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 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.
Orange County Bancorp declared a $0.20 cash dividend per share on August 18, 2022. The dividend is set to be paid on September 15, 2022 to shareholders recorded by September 2, 2022. This action reflects the company's commitment to shareholder returns and financial stability. With total assets exceeding $2 billion, Orange County Bancorp continues to support its community and offers investment advisory services through its subsidiary, Hudson Valley Investment Advisors, Inc.
Orange County Bancorp (Nasdaq: OBT) reported Q2 2022 net income of $2.1 million ($0.38/share), a 59.4% decline from $5.2 million in Q2 2021. This drop is attributed to a significant increase in the provision for loan losses to $5.5 million from $809 thousand last year, due to impaired syndicated loans. Despite this, total assets rose 11.7% to $2.4 billion, fueled by a 15.1% increase in deposits and 13.9% growth in loans. Net interest income grew 19.7%, demonstrating strong loan demand amidst a challenging rate environment.
Orange County Bancorp (NASDAQ:OBT) announced the appointment of Jonathan Rouis as board chair effective June 17, 2022, succeeding Lou Heimbach, who remains a director. Rouis, a CPA and director since 2018, has extensive experience and was an active board member. The company also appointed Richard Rowley as chairman of Hudson Valley Investment Advisors effective April 26, 2022. Both leaders are expected to advance the company's growth and market position.
Orange County Bancorp has declared a cash dividend of $0.20 per share, payable on June 15, 2022, to shareholders of record on June 2, 2022. This decision reflects the company's commitment to returning value to its shareholders. With over $2.0 billion in total assets, Orange County Bancorp operates through its subsidiary, Orange Bank & Trust Company, and Hudson Valley Investment Advisors. This dividend announcement signals the company’s solid financial position and ongoing confidence in its growth and stability.
Orange County Bancorp reported a net income of $5.3 million for Q1 2022, representing a 6.1% increase from Q1 2021. However, return on average assets declined to 0.95%, and return on average equity fell to 11.87%, primarily due to an increase in shares post-IPO. Total assets grew by 6.5% to nearly $2.3 billion, driven by significant loan growth of 16.7%. Despite increased provisions for loan losses, non-interest income rose to $3.0 million. The tangible book value per share decreased by 10.3% amid rising interest rates, reflecting challenges in the current market.
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