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Overview
Orange County Bancorp Inc is a storied financial institution with a legacy spanning more than 125 years, rooted in the mid‐Hudson Valley region of New York. As a multifaceted financial services provider, the company offers comprehensive personal, commercial, and wealth management solutions, underscored by a commitment to local ownership and rapid, responsive service. Its integrated banking services, which include personal loans, savings products, business loans, deposit accounts, and Internet banking, are complemented by a robust wealth management division that delivers trust, investment advisory, and estate planning services.
Banking and Financial Services
At its core, Orange County Bancorp Inc focuses on providing a broad spectrum of banking products. Banking services such as personal and business loans, deposit facilities, and online banking offer convenience and reliability to local residents, small businesses, municipalities, and non‐profit organizations. The bank emphasizes the strength of its local presence with strategically located branches in key communities, thus ensuring that its clients receive timely and personalized support.
Wealth Management and Advisory Services
The company has effectively combined traditional banking with advanced wealth management and investment advisory services by integrating Hudson Valley Investment Advisors into its service framework, now operating under the Orange Wealth Management brand. This consolidation leverages decades of financial expertise to offer tailored solutions, including trust services, investment advisory, and estate planning, that meet the evolving needs of both high-net-worth individuals and business owners. Such strategic realignment underscores the emphasis on fee-based revenue streams, while enriching the overall customer experience through a more integrated advisory model.
Core Business Model
The company’s revenue generation is primarily driven by its banking segment through net interest income, complemented by fee-generating wealth management services. By focusing on a diverse mix of financial products, Orange County Bancorp Inc manages to balance traditional banking operations with the more complex, advisory-driven wealth management services. This dual approach not only supports stable revenue streams but also offers clients a wide portfolio of solutions designed to safeguard their financial well-being.
Market Position and Competitive Edge
Orange County Bancorp Inc is uniquely positioned as a regional bank with deep local roots and a strong commitment to community-based ownership. Its ability to act decisively in local markets affords it a competitive advantage, enabling efficient risk management and tailored responses to market challenges. The company’s long history of providing financial stability, along with its continuous innovation in service delivery, reinforces its reputation as a trusted partner in the financial sphere.
Commitment to Expertise and Trusted Advisory
Emphasizing deep industry knowledge and a strategic approach to wealth management, Orange County Bancorp Inc employs robust risk management practices to navigate a dynamic interest rate environment. Its advisory services are underpinned by systematic evaluations of credit quality, asset growth, and deposit management, ensuring resilience and continuity of financial strength without compromising on personalized service. This philosophy is central to its mission, which is to combine the breadth of a full-service bank with the nimbleness of a locally owned institution.
Community Integration and Service Excellence
Beyond its financial offerings, the company holds a significant place in its community. It has built enduring relationships with local businesses, municipalities, and residents by maintaining a service-oriented approach that prioritizes trust, independence, and accessibility. This integrated mix of community engagement and professional expertise makes Orange County Bancorp Inc a key correspondent in the financial services landscape, providing not just banking products but also a comprehensive trusted financial partnership.
Key Takeaways
- Comprehensive suite of banking products and wealth management services
- Strong local presence with deep community integration
- Balanced revenue model combining net interest income with fee-based advisory services
- Emphasis on agile decision-making and effective risk management
- Dedicated to delivering personalized, efficient, and secure financial solutions
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.
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