Orange County Bancorp, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 01, 2024 at 03:28 pm EST
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Orange County Bancorp, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net interest income was USD 22.15 million compared to USD 22.83 million a year ago. Net income was USD 8.12 million compared to USD 9.07 million a year ago. Basic earnings per share from continuing operations was USD 1.44 compared to USD 1.61 a year ago.
For the full year, net interest income was USD 88.39 million compared to USD 78.09 million a year ago. Net income was USD 29.48 million compared to USD 24.36 million a year ago. Basic earnings per share from continuing operations was USD 5.24 compared to USD 4.33 a year ago.
Orange County Bancorp, Inc. is a bank holding company. Through its subsidiaries, Orange Bank & Trust Company, a New York state-chartered trust company (the Bank) and Hudson Valley Investment Advisors, Inc., a investment advisor (HVIA), the Company offers full- service commercial and consumer banking products and services and trust and wealth management services to small businesses, middle-market enterprises, local municipal governments and individuals in the Lower Hudson Valley region, the New York metropolitan area and nearby markets in Connecticut and New Jersey. Its segments include Banking Business and Wealth Management. The Banking Business segment involves the delivery of loan and deposit products to its customers through the Bank. The Wealth Management segment, which includes asset management and trust services to individuals and institutions through HVIA and the Bank, which provides trust and investment management fee income in its wealth management business segment.
ORANGE COUNTY BANCORP, INC. 
