Orange County Bancorp, Inc. ( (OBT) ) has released its Q4 earnings. Here is a breakdown of the information Orange County Bancorp, Inc. presented to its investors.
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Orange County Bancorp, Inc. is a financial services company operating primarily in the banking and investment sectors. It serves as the parent company of Orange Bank & Trust Co. and Hudson Valley Investment Advisors, Inc., focusing on providing banking and investment advisory services.
In its latest earnings report, Orange County Bancorp, Inc. announced a net income of $27.9 million for the fiscal year ending December 31, 2024, a slight decrease from the previous year’s earnings. Despite challenges in the interest rate environment and non-performing loans, the company saw growth in net interest income and trust and investment advisory income.
Key financial metrics for the company include a 3.9% increase in total loans to $1.8 billion and a 5.6% increase in total deposits to $2.2 billion. Net interest income rose by 3.8% to $91.8 million, while the net interest margin improved slightly to 3.83%. The company’s wealth management division also performed well, with a 16.7% increase in trust and investment advisory income for the fourth quarter.
Looking ahead, the management of Orange County Bancorp remains cautiously optimistic, focusing on maintaining conservative credit quality and strategically managing liquidity and funding costs. The company aims to leverage its wealth management division further to enhance customer satisfaction and drive growth.
