Orange Cnty Bancorp Inc Stock Price, News & Analysis

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.

Orange Bank & Trust Company has promoted Anthony Pili to Senior Vice President. Mr. Pili, who joined the organization in 2018, has driven significant growth in cash management services while overseeing marketing strategies leading up to the Bank's initial public offering. Under his leadership, the Bank has achieved triple-digit growth in cash management verticals. The Bank currently has over $2 billion in assets and has expanded its presence with new branches and strategic acquisitions.

Orange Bank & Trust Company has appointed David P. Dineen as Senior Vice President and Director of Wealth Services, overseeing Private Banking and Trust Services. Dineen brings over 35 years of banking experience, having held senior positions at several financial institutions, including Republic Bank and Capital One Bank. His extensive background in relationship management and private banking aligns with the bank's strategic goals. Orange Bank & Trust Company has more than $2.0 billion in total assets and continues to expand its services in the Hudson Valley region.

Orange County Bancorp (NASDAQ: OBT) has promoted Elizabeth Jones to Senior Vice President and Chief Operating Officer of Orange Bank & Trust Company. Jones, who joined the Bank in 2016, has successfully led several operational projects, including a key core conversion. In her new role, she will oversee all bank and loan operations, compliance, audit, IT departments, and facilities. CEO Michael Gilfeather highlighted Jones' decisive leadership and her integral role in fostering the bank's culture.

Orange County Bancorp has announced a cash dividend of $0.20 per share, payable on March 15, 2022, to shareholders recorded on March 2, 2022. The company, with over $2.0 billion in total assets, operates as the parent of Orange Bank & Trust Company and Hudson Valley Investment Advisors, Inc. This decision reflects the company's commitment to return value to its shareholders while maintaining its strong financial position.

Orange County Bancorp (NASDAQ:OBT) reported a significant increase in net income for 2021, rising by $9.6 million (82.1%) to a record $21.3 million, equivalent to $4.28 per share. Q4 net income also grew by 61.8% year-over-year, reaching $5.5 million. The company's total assets surged 28.6% to $2.1 billion, with average loans increasing 20% to $1.2 billion. Additionally, the successful IPO raised $38.5 million for further growth and visibility. Key growth was evident across all business segments, including a 17.9% revenue increase from trust and asset advisory services.

Orange County Bancorp (NASDAQ:OBT) announced the appointment of Kevin J. Keane to its Board of Directors, effective January 21, 2022. Keane, Managing Partner of PKF O'Connor Davies, brings extensive experience and leadership that align with the bank's expansion strategy into Westchester County. His proven track record of business growth and commitment to community involvement is expected to enhance the board's oversight. The bank has seen significant growth over 125 years, currently holding over $2.0 billion in assets.