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Contact: Neil Cotiaux, FHLBank Pittsburgh: 412-288-2851; cell 412-335-9488
Kenneth R. Shoemaker, president and CEO, Orrstown Bank, 717-532-6114

Orrstown Bank President & CEO Honored for Community Commitment: Special Award Cites Ken Shoemaker's Role in Affordanle Housing

LITITZ, PA, June 26, 2006 — Kenneth R. Shoemaker, president and chief executive officer of Orrstown Bank, Shippensburg, PA, today received a special award from the Affordable Housing Advisory Council of FHLBank Pittsburgh for his lifelong commitment to affordable housing and community investment.
Each year, the Advisory Council, which serves the Bank and its Board of Directors, selects an individual who exemplifies FHLBank Pittsburgh’s vision of placing a safe, warm home and steady work within the grasp of every person. FHLBank, a wholesale bank created by Congress to provide a steady stream of low-cost funding for housing, has nearly 340 member financial institutions across Delaware, Pennsylvania and West Virginia. Shoemaker received the special Council Award at a regional gathering of FHLBank members in Lititz, PA.

“Once a year, we honor one person among the leadership ranks of our members whose personal commitment to affordable housing and community development stands head and shoulders above the pack,” said John J. Bendel, director of Community Investment for FHLBank. “As president of Orrstown Bank for nearly 20 years, Ken Shoemaker has set the bar high for his fellow bankers in his quest to achieve important and lasting results in the community through his own good works as well as those of his financial institution.”

Under Shoemaker’s leadership, Orrstown Bank has forged partnerships with community development organizations to expand the supply of affordable housing and to enhance the livability of local neighborhoods. During Shoemaker’s tenure, Orrstown Bank has received four Affordable Housing Program grants totaling more than $250,000 from FHLBank Pittsburgh. These projects have provided apartments for seniors in Shippensburg, affordable housing for those who suffer from mental illness in Mechanicsburg, and new and rehabbed homes for first-time buyers in Carlisle.

In addition to a long list of prior community service, Shoemaker is currently president of Main Street Non-Profit Redevelopment Corporation, an organization he helped found. Main Street’s mission is to enhance and beautify Shippensburg’s central business district and to lessen the burden of local government. He also serves as chairman of the Council of Trustees for Shippensburg University, as a director for Cumberland Valley School of Music and as a trustee for Carlisle Regional Medical Center. In 2002, Shoemaker was named Business Person of the Year by the Shippensburg Chamber of Commerce.

Mr. Shoemaker joined Orrstown Bank in 1986 and was named president and chief executive officer in 1987. Orrstown Bank’s principal service areas are Franklin and Cumberland counties. It operates 13 banking offices.

Established in 1932 to provide a steady stream of low-cost housing finance to its membership, FHLBank Pittsburgh has expanded its mission in recent years to include financing for business startup and expansion and a variety of community and economic development projects. The Bank is one of twelve FHLBanks, all private cooperatively owned banks using private capital for a public mission.