Orange County Bancorp, Inc. Declares Two-for-One Stock Split
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) ha annunciato uno scorporo azionario in rapporto due a uno delle proprie azioni ordinarie. Gli azionisti registrati il 9 gennaio 2025 riceveranno un'azione aggiuntiva dopo la chiusura del mercato il 10 gennaio 2025. Le contrattazioni su base rettificata in seguito allo scorporo inizieranno il 13 gennaio 2025.
Lo scorporo porterà ad un aumento delle azioni in circolazione da circa 5,7 milioni a 11,4 milioni, mentre il valore nominale delle azioni passerà da $0,50 a $0,25. L'azienda mira a rendere la proprietà azionaria più accessibile e ad attrarre nuovi investitori, mantenendo al contempo l'attenzione su una performance costante e sul miglioramento del valore per gli azionisti.
Orange County Bancorp (Nasdaq: OBT) anunció un dividendo de acciones en una proporción de dos por uno de sus acciones ordinarias. Los accionistas registrados el 9 de enero de 2025 recibirán una acción adicional después del cierre del mercado el 10 de enero de 2025. La negociación en base ajustada por el dividendo comenzará el 13 de enero de 2025.
El dividendo aumentará las acciones en circulación de aproximadamente 5,7 millones a 11,4 millones, con el valor nominal de la acción reduciéndose de $0,50 a $0,25. La compañía tiene como objetivo hacer que la propiedad de acciones sea más accesible y atraer nuevos inversores, mientras se mantiene enfocada en un rendimiento constante y en la mejora del valor para los accionistas.
오렌지 카운티 뱅콥 (Nasdaq: OBT)는 일반 주식에 대해 2대 1 비율의 주식 분할을 발표했습니다. 2025년 1월 9일 기준 주주들은 2025년 1월 10일 장 마감 후 추가로 한 주를 받게 됩니다. 분할 조정된 거래는 2025년 1월 13일부터 시작됩니다.
이번 분할로 인해 발행 주식 수는 약 570만에서 1140만으로 증가하며, 주당 액면가는 $0.50에서 $0.25로 줄어듭니다. 회사는 주식 소유를 더 용이하게 하고 새로운 투자자를 유치하는 것을 목표로 하며, 동시에 일관된 성과와 주주 가치를 증대하는 데 주력하고 있습니다.
Orange County Bancorp (Nasdaq: OBT) a annoncé un fractionnement d'actions au ratio de deux pour un de ses actions ordinaires. Les actionnaires enregistrés au 9 janvier 2025 recevront une action supplémentaire après la clôture du marché le 10 janvier 2025. Les transactions sur une base ajustée au fractionnement commenceront le 13 janvier 2025.
Ce fractionnement augmentera le nombre d'actions en circulation d'environ 5,7 millions à 11,4 millions, le montant nominal des actions passant de 0,50 $ à 0,25 $. L'entreprise vise à rendre la propriété des actions plus accessible et à attirer de nouveaux investisseurs tout en maintenant son attention sur une performance constante et l'amélioration de la valeur pour les actionnaires.
Orange County Bancorp (Nasdaq: OBT) gab eine 2-für-1 Aktienaufspaltung seiner Stammaktien bekannt. Aktionäre, die am 9. Januar 2025 im Aktienregister stehen, erhalten nach Marktschluss am 10. Januar 2025 eine zusätzliche Aktie. Der Handel auf der Basis der aufgeteilten Aktien beginnt am 13. Januar 2025.
Die Aufspaltung wird die ausstehenden Aktien von etwa 5,7 Millionen auf 11,4 Millionen erhöhen, während der Nennwert der Aktie von 0,50 $ auf 0,25 $ sinkt. Das Unternehmen hat sich zum Ziel gesetzt, den Aktienbesitz zugänglicher zu machen und neue Investoren zu gewinnen, während es gleichzeitig den Fokus auf eine konstante Leistung und die Verbesserung des Wertes für die Aktionäre beibehält.
- Stock split could increase stock liquidity and accessibility for retail investors
- No dilution of shareholder value as proportional ownership remains unchanged
- Potential to attract new investors with lower per-share trading price
- None.
Insights
The mechanics of this split will effectively double the outstanding shares from 5.7 million to 11.4 million, while halving the par value from
A key technical consideration is the timing - with the record date set for January 9, 2025 and split-adjusted trading commencing January 13, this gives the market adequate time to process the change. The split also suggests management's confidence in the bank's growth trajectory and their commitment to making the stock more accessible to a broader range of investors.
This stock split announcement comes at an interesting time for regional banks. With rising interest rates and ongoing industry consolidation, Orange County Bancorp's decision indicates a strategic positioning for growth. The split could facilitate easier participation in potential future capital raises or M&A activities by creating a more flexible share structure.
For comparison, regional banks typically implement stock splits when they've achieved substantial share price appreciation and want to maintain competitive trading ranges within their peer group. The timing suggests Orange County Bancorp's management sees an opportunity to capitalize on their current market position and potentially attract institutional investors who may have specific price-per-share trading parameters.
The reduction in par value, while technical in nature, also provides additional flexibility in the bank's capital structure. Think of it as creating smaller 'building blocks' that can be more easily utilized for future strategic initiatives.
MIDDLETOWN, N.Y., Dec. 26, 2024 (GLOBE NEWSWIRE) -- Orange County Bancorp, Inc. (the “Company” - Nasdaq: OBT), parent company of Orange Bank & Trust Co. and Hudson Valley Investment Advisors, Inc., today announced that its Board of Directors declared a two-for-one forward stock split (the “Stock Split”) of the Company’s common stock. Each record holder of common stock on Thursday, January 9, 2025 will receive one additional share of common stock after the market close on Friday, January 10, 2025. Trading is expected to commence on a split-adjusted basis at market open on Monday, January 13, 2025.
The Stock Split will be effectuated by the filing of an amendment to the Company’s Certificate of Incorporation and will result in a proportionate increase in the number of shares of authorized common stock. The Company anticipates that the outstanding shares of common stock after the Stock Split will increase from approximately 5.7 million shares to 11.4 million shares. The par value per share of the Company’s common stock will be reduced from
Michael Gilfeather, President and CEO, noted, “We are pleased to announce that the Board of Directors has determined that this Stock Split in in the best interest of our shareholders, as we anticipate the reduced trading price per share and the additional amount of shares outstanding will make stock ownership more available and promote new investor interest. Our strategy remains focused on the consistency of our performance and a commitment to enhancing shareholder value.”
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 125 years ago. It has grown through innovation and an unwavering commitment to its community and business clientele to approximately
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, inflation, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, increased levels of loan delinquencies, problem assets and foreclosures, credit risk management, asset-liability management, cybersecurity risks, geopolitical conflicts, public health issues, the financial and securities markets and the availability of and costs associated with sources of liquidity.
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.
For further information:
Michael Lesler
EVP & Chief Financial Officer
mlesler@orangebanktrust.com
Phone: (845) 341-5111
FAQ
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