Orange County Bancorp, Inc. Appoints Michael Listner Chief Risk Officer

Rhea-AI Summary

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.

Positive

• Appointment of Michael Listner as Chief Risk Officer, expected to enhance risk management.
• Listner's previous experience as Co-Chief Credit Officer will aid in strategic risk oversight.
• The bank has over $2.0 billion in total assets, indicating stability and growth potential.

Negative

• Potential concerns about continuity in leadership as the bank adapts to Listner's new role.

MIDDLETOWN, NY / ACCESSWIRE / February 28, 2023 / Orange County Bancorp, Inc. (the "Company") (NASDAQ:OBT), parent company of Orange Bank & Trust Co. (the "Bank") announced today the appointment of Senior Vice President Michael Listner to the role of Chief Risk Officer (CRO). Michael previously served as Co-Chief Credit Officer at the Bank. A key advisor to Bank executives overseeing credit analytics and lending, Listner will lead the organization's enterprise risk management strategy and support its future growth.

"Powerful risk management is integral to the banking industry, and we have been fortunate to have Michael's leadership and expertise over the past five years," said President & CEO, Michael Gilfeather. "His deep and multi-faceted work with us and other industry experience position him perfectly to manage the Bank's risk management capabilities as we enter our next phase of growth."

With this new role, Listner assumes responsibility for risk management across the Bank, including credit and risk assessment, the development and implementation of risk management strategy, and oversight of risk management systems for all business segments and operational units.

Listner joined Orange Bank in 2018 as First Vice President - Senior Credit Officer responsible for credit administration, including managing and directing the Bank's loan portfolio and supervision of all credit-related matters. In 2020, he was promoted to Senior Vice President - Chief Credit Officer, where his extensive experience in credit analysis has helped the Bank significantly expand its lending throughout the Hudson Valley.

Michael has a Master of Business Administration from NYU Stern School of Business and a BS in Finance and Economics from Villanova University.

About Orange County Bancorp Inc.

Orange County Bancorp, Inc. is the parent company of Orange Bank & Trust Company and Hudson Valley Investment Advisors, Inc. Orange Bank & Trust Company is an independent bank that began with the vision of 14 founders over 130 years ago. It has grown through ongoing innovation and an unwavering commitment to its community and business clientele to more than $2.0 billion in total assets.

Forward Looking Statements

Certain statements contained herein are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as "may," "will," "believe," "expect," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of those terms. Forward looking statements are subject to numerous risks and uncertainties, including, but not limited to, those related to the real estate and economic environment, particularly in the market areas in which the Company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, credit risk management, asset-liability management, the financial and securities markets and the availability of and costs associated with sources of liquidity. Further, given its ongoing and dynamic nature, it is difficult to predict what the continuing effects of the COVID-19 pandemic will have on our business and results of operations. The pandemic and related local and national economic disruption may, among other effects, continue to result in a material adverse change for the demand for our products and services; increased levels of loan delinquencies, problem assets and foreclosures; branch disruptions, unavailability of personnel and increased cybersecurity risks as employees work remotely.

The Company wishes to caution readers not to place undue reliance on any such forward looking statements, which speak only as of the date made. The Company wishes to advise readers that the factors listed above could affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake and specifically declines any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact:
Candice Varetoni
AVP Marketing Officer
cvaretoni@orangebanktrust.com

SOURCE: Orange County Bancorp, Inc.

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https://www.accesswire.com/741325/Orange-County-Bancorp-Inc-Appoints-Michael-Listner-Chief-Risk-Officer

FAQ

Who is the new Chief Risk Officer of Orange County Bancorp?

Michael Listner has been appointed as the new Chief Risk Officer.

What experience does Michael Listner bring to his role as CRO?

Listner previously served as Co-Chief Credit Officer and has been with the bank since 2018.

What are Michael Listner's responsibilities as Chief Risk Officer?

He will oversee risk management, credit assessment, and the development of risk management strategies.

How does Michael Listner's appointment impact Orange County Bancorp?

His leadership is expected to strengthen the bank's risk management as it pursues future growth.