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 announced a quarterly cash dividend of $0.13 per share of common stock. The dividend will be paid on March 17, 2025 to shareholders of record as of March 4, 2025. Orange County Bancorp is the parent company of Orange Bank & Trust Company and Hudson Valley Investment Advisors.
Orange County Bancorp (OBT) reported Q4 2024 net income of $7.2 million ($0.63 per share), down from $8.1 million ($0.72 per share) in Q4 2023. Full-year 2024 net income was $27.9 million ($2.47 per share), compared to $29.5 million ($2.62 per share) in 2023.
Key financial highlights include: Net Interest Income increased 3.8% to $91.8 million for 2024; Total Loans grew 3.9% to $1.8 billion; Total Deposits rose 5.6% to $2.2 billion; and Book value per share increased 11.8% to $16.35. The company's Trust and investment advisory income rose 16.7% to $3.3 million in Q4 2024.
The bank maintained strong capital ratios with Tier 1 capital to average assets at 10.23%, and total capital to risk-weighted assets at 15.37%. Assets under management in the Wealth Management Division reached $1.8 billion, up 12.9% from 2023.
Orange County Bancorp (Nasdaq: OBT) announced a strategic realignment of its internal divisions, unifying its wealth management services under the new brand Orange Wealth Management. The reorganization combines Hudson Valley Investment Advisors and the bank's trust and private banking offerings under one umbrella, to be led by Senior Vice President David P. Dineen as Managing Director of Wealth Management.
The initiative aims to provide comprehensive wealth management solutions, integrating investment guidance, estate planning, and personal banking services. Hudson Valley Investment Advisors, acquired by the company in 2012 with $465 million in assets under management (AUM), has grown to manage over $1.7 billion in AUM. The strategic move positions the company to capitalize on the upcoming 'Great Wealth Transfer' of more than $80 trillion in assets, particularly focusing on high-net-worth individuals and business owners.
Orange County Bancorp (Nasdaq: OBT) has adjusted the record date for its previously announced two-for-one forward stock split to January 8, 2025, due to U.S. markets closing on January 9 in observance of former President Jimmy Carter's passing. Record holders of common stock will receive one additional share after market close on January 10, 2025, with split-adjusted trading beginning on January 13, 2025.
The split will be implemented through an amendment to the Company's Certificate of Incorporation, increasing the total outstanding shares from approximately 5.7 million to 11.4 million. The stock's par value will be reduced from $0.50 to $0.25 per share.
Orange County Bancorp (Nasdaq: OBT) announced a two-for-one forward stock split of its common stock. Shareholders of record on January 9, 2025, will receive one additional share after market close on January 10, 2025. Trading on a split-adjusted basis will begin on January 13, 2025.
The split will increase outstanding shares from approximately 5.7 million to 11.4 million, with the stock's par value reducing from $0.50 to $0.25. The company aims to make stock ownership more accessible and attract new investors while maintaining focus on consistent performance and shareholder value enhancement.
Orange County Bancorp (Nasdaq: OBT) has announced a $0.25 cash dividend per share of common stock, representing a $0.02 increase from the previous dividend. The dividend will be paid on December 16, 2024 to shareholders of record as of December 4, 2024. The company operates through its subsidiaries Orange Bank & Trust Company and Hudson Valley Investment Advisors.
Orange County Bancorp (OBT) reported Q3 2024 net income of $3.2 million ($0.57 per share), down from $9.0 million ($1.61 per share) in Q3 2023. The decline was primarily due to a significant $7.2 million provision for credit losses, mainly attributed to a problematic office space loan. Despite challenges, net interest income increased 2.1% to $23.0 million, and total deposits grew 5.0% to $2.1 billion. The company's loan portfolio expanded 2.8% to $1.8 billion, while trust and investment advisory income rose 20.1% to $3.1 million.
Orange County Bancorp, Inc. (NASDAQ:OBT), parent company of Orange Bank & Trust Co., has appointed Jonathan Schiller, RPh, MBA, to its Board of Directors, effective October 1, 2024. Schiller, an entrepreneur with extensive senior leadership experience, is the founder, President, and CEO of Hospicom Inc., a medical education and consulting company serving Fortune 100 pharmaceutical and biotechnology firms.
Schiller's background includes founding the Society of Academic Medicine and Strategically Speaking Inc. He holds a BS in Pharmacy from St. John's University and an MBA from Columbia University Business School. Michael Gilfeather, Company President and CEO, praised Schiller's proven business leadership and unique scientific and analytic experience, expressing confidence in his contribution to overseeing the future affairs of the Company and the Bank.
Orange Bank & Trust Company, a 132-year-old financial institution in New York's Hudson Valley, has expanded its Private Banking Division with the appointment of Keith Blackman as AVP and Private Banking Officer in Goshen. Blackman brings over 20 years of experience in Private Banking, having worked at notable institutions such as Independence Community Bank, Signature Bank, TD Bank, and J.P. Morgan Chase Bank. His most recent role was Associate Relationship Manager at Key Private Bank.
The Private Banking Division, part of Orange Wealth Management, focuses on simplifying clients' finances, banking, investments, and estate planning needs. This strategic hire underscores the bank's commitment to enhancing its specialized services and maintaining strong client relationships.
Orange County Bancorp, Inc. (NASDAQ:OBT), the parent company of Orange Bank & Trust Company and Hudson Valley Investment Advisors, has declared a cash dividend of $0.23 per share of its common stock. The dividend was announced by the Board of Directors on August 15, 2024, and will be paid on September 16, 2024 to shareholders of record as of September 4, 2024. This decision demonstrates the company's commitment to providing returns to its shareholders and may indicate confidence in its financial stability and future prospects.
