Orrstown Financial Services in Shippensburg, Pa., has acquired Wheatland Advisors in Lancaster, Pa.
The $1.4 billion-asset Orrstown said in a press release Monday that the investment adviser will keep its name and that Richard Heilig, the firm's former owner, will "play an active role in managing clients." Orrstown did not disclose the price it paid.
Orrstown has been expanding in Lancaster County, where it has a branch and a financial office. At least two more branches are expected to open in coming months.