Orange County Bancorp reports Q4 EPS 63c, consensus 70c

Reports Q4 tangible book value per share $15.80. Reports Q4 CET1 capital ratio 14.12%. “Orange Bank closed out 2024 with another solid quarter,” said company president and CEO Michael Gilfeather. “Earnings of $7.2 million for the three months ended December 31, 2024 increased our full year total to $27.9 million. Though below our record $29.5 million in earnings the prior year, I am pleased by the results given challenges in the current interest rate environment and significant charges related to a non-performing participation loan. Additionally, given our historically conservative approach to credit quality, we have taken provisions to adequately reserve for charges associated with the previously disclosed participation loan.”