Chief credit officer Michael Moore resigned Friday, Orrstown said in a statement filed with the U.S. Securities and Exchange Commission. Terry Miller, director of Orrstown’s Special Assets Group, resigned June 29, the bank said.
“Both individuals resigned from the Bank to pursue other business opportunities,” the statement said.
Orrstown, which reported losses of $32 million for 2011, is operating under enforcement orders with federal and state regulators requiring the bank to strengthen its board and management and improve the quality of its loan portfolio.
Shares of its holding company, Orrstown Financial Services Inc., trade on the Nasdaq under the ticker symbol ORRF.