Orange Bank & Trust Company Promotes Robert Peacock, CFO to Senior Executive Vice President

Rhea-AI Summary

Orange Bank & Trust Company has promoted Robert Peacock from Chief Financial Officer to Senior Executive Vice President. This decision reflects his significant contributions to the bank's strategy amid economic challenges such as low interest rates and margin compression. Since his appointment as CFO in 2018, the bank's assets have grown from $1 billion to over $1.6 billion. Peacock brings extensive experience from Spencer Savings Bank and FinPro, Inc. The bank, with over $1.5 billion in assets, also plans to expand its operations with new branches in Bronx and Nanuet in 2021.

Positive

• Promotion of Robert Peacock to Senior Executive Vice President indicates strong leadership and trust from the Board.
• Significant growth in bank assets from $1 billion in 2018 to over $1.6 billion under Peacock's financial leadership.
• Expansion plans include new branches in Bronx and Nanuet, indicating growth and commitment to community.

Negative

• None.

MIDDLETOWN, NY / ACCESSWIRE / February 24, 2021 / The Board of Directors and Michael Gilfeather, President and CEO of Orange Bank & Trust Company announce the promotion of Chief Financial Officer, Robert Peacock to Senior Executive Vice President.

"Robert is involved with every key aspect of our strategy. In a year of unprecedented economic and operational challenges including historically low interest rates and industry wide margin compression, Robert used his expertise and financial acumen to help management leverage those challenges to our advantage." explained Mr. Gilfeather.

"I'm honored by the confidence the board and the CEO have placed in me," said Mr. Peacock. "It is a pleasure and honor to work with our roster of highly bright and dedicated bankers as we implement the bank's strategy to be the premier business bank and wealth management provider in the Hudson Valley."

Peacock joined Orange Bank and Trust in 2018 with an extensive background in financial management and strategic planning. He served as Executive Vice President and Chief Financial Officer for Spencer Savings Bank, a $2.7 billion bank in Elmwood Park, New Jersey. Prior to that he was Managing Director for FinPro, Inc. a leading bank consulting firm where managed consulting engagements specializing in bank-startups from concept, management team selection, regulatory application and capital raising assistance.

Since Mr. Peacock's appointment to CFO, the Bank has grown from just over $1 billion in assets in 2018 to over $1.6 billion today. Mr. Peacock holds a Master of Business Administration and a BS in Finance and Statistics both from The Wharton School of the University of Pennsylvania.

About Orange Bank & Trust Company

Orange Bank & Trust Company is an independent bank that began with the vision of 14 founders over 125 years ago. It has grown through conservative banking practices, ongoing innovation and an unwavering commitment to its community and business clientele to more than $1.5 billion in total assets. In recent years, Orange Bank & Trust has added branches in Rockland and Westchester Counties. In the spring of 2021, the Bank will be opening new offices in the Bronx and Nanuet, Rockland County.

Contact:
Candice Varetoni
cvaretoni@orangebanktrust.com
845-341-5043

SOURCE: Orange County Bancorp, Inc.

View source version on accesswire.com:
https://www.accesswire.com/631710/Orange-Bank-Trust-Company-Promotes-Robert-Peacock-CFO-to-Senior-Executive-Vice-President

FAQ

Who has been promoted at Orange Bank & Trust Company?

Robert Peacock has been promoted to Senior Executive Vice President.

What are the recent growth figures for Orange Bank & Trust Company?

The bank's assets have grown from $1 billion in 2018 to over $1.6 billion.

What new branches is Orange Bank & Trust planning to open?

New branches are planned to open in the Bronx and Nanuet, Rockland County in 2021.

What challenges has Orange Bank & Trust Company faced recently?

The bank has navigated unprecedented economic challenges, including low interest rates and industry-wide margin compression.