Welcome to our dedicated page for Orange Cnty Bancorp news (Ticker: OBT), a resource for investors and traders seeking the latest updates and insights on Orange Cnty Bancorp stock.
Orange County Bancorp Inc (OBT) provides timely financial updates through this centralized news hub, serving investors and community stakeholders. Access official press releases and market-moving announcements from New York's mid-Hudson Valley banking leader, known for integrating traditional services with Orange Wealth Management solutions.
This resource delivers essential updates including quarterly earnings, strategic partnerships, and regulatory developments. Track announcements about commercial lending programs, wealth management expansions, and community banking initiatives that reflect OBT's dual focus on regional service and financial innovation.
Key updates cover leadership changes, product launches, and regulatory filings, with historical context from the company's 125-year operational legacy. Subscribers and analysts will find organized access to material events impacting OBT's market position in competitive regional banking.
Bookmark this page for streamlined monitoring of Orange County Bancorp's financial trajectory. Combine real-time updates with the institution's established reputation for personalized banking and wealth advisory services across Orange County and surrounding regions.
Orange County Bancorp (NASDAQ: OBT) has appointed Michael Listner as Chief Risk Officer (CRO), effective immediately. Previously the Co-Chief Credit Officer, Listner will lead the organization's risk management strategy and support future growth. He has been with the bank since 2018, enhancing credit analytics and expanding lending operations in the Hudson Valley. Under Listner's leadership, the bank aims to strengthen its risk management capabilities as it enters a new growth phase. The institution holds over $2.0 billion in total assets, reflecting its commitment to innovation and community service.
Orange County Bancorp, Inc. declared a cash dividend of $0.23 per share on February 16, 2023. This dividend will be paid on March 15, 2023, to shareholders who are on record by March 3, 2023. The company, which operates as the parent of Orange Bank & Trust Company and Hudson Valley Investment Advisors, boasts over $2.0 billion in total assets, a milestone achieved through long-term commitment and innovation in banking.
Orange County Bancorp, Inc. (OBT) reported a record net income of $9.1 million for Q4 2022, marking a 65% increase from Q4 2021 due to rising interest income. The annual net income reached $24.4 million, a 14.4% increase year-over-year. Total assets grew by 6.8% to $2.3 billion, with total loans increasing 21.5% to $1.6 billion. Deposits rose by 3.1% to $2.0 billion. The net interest margin improved by 32.9% to 4.12% in Q4. However, book value per share decreased 24.5% to $24.48 due to rising interest rates affecting market values.
Orange County Bancorp (NASDAQ:OBT) announced the retirement of CFO Robert Peacock, effective March 15, 2023. He will be succeeded by Michael Lesler, currently SVP Chief Accounting Officer. Lesler, who joined the bank in 2021, brings over 20 years of banking experience, including prior roles at BCB Bank and Clifton Savings Bank. The transition aligns with the bank's leadership succession plan aimed at ensuring a smooth leadership change and continued strategic direction.
Orange Bank & Trust Company is relocating its Goshen Office to a historic building at 54 West Main Street, Goshen, NY. The move is part of the Bank's expansion strategy due to increased client demand and will feature a larger space, updated design, and enhanced facilities. A sneak peek event on November 29 showcased the renovation plans, attended by local officials. Renovations are expected to complete in Q1 2023. The Bank, a subsidiary of Orange County Bancorp, Inc. (Nasdaq: OBT), has over $2 billion in assets and a commitment to community engagement.
Orange County Bancorp declared a cash dividend of $0.23 per share, payable on December 15, 2022, to shareholders recorded by December 2, 2022. As the parent company of Orange Bank & Trust and Hudson Valley Investment Advisors, it operates over $2.0 billion in total assets. This dividend reflects the company's ongoing commitment to returning income to shareholders while maintaining its robust growth strategy.
Orange County Bancorp (Nasdaq: OBT) reported record net income of $7.9 million for Q3 2022, a 40.8% increase from $5.6 million in Q3 2021. Total assets increased by $225.8 million (10.5%) to $2.4 billion, while total deposits rose $273.2 million (14.3%) to $2.2 billion. Net interest income surged $5.5 million (34.9%) to $21.4 million. Despite strong growth, book value per share declined by 25.6% due to rising market interest rates impacting the investment portfolio.
Orange County Bancorp (NASDAQ: OBT) appointed Marianna R. Kennedy to its Board of Directors effective October 1, 2022. Michael Gilfeather, CEO, expressed confidence in her extensive financial expertise. Kennedy, a partner at Drake Loeb PLLC, specializes in business transactions and represents regional businesses in various financial matters. She brings a wealth of experience from her roles on multiple boards, including the SUNY Orange Foundation. Orange County Bancorp manages over $2 billion in assets and has a strong commitment to community growth.
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