Orange County Bancorp, Inc. Announces Third Quarter 2024 Financial Results

On October 30, 2024, Orange County Bancorp, Inc. (NASDAQ: OBT) reported its financial performance for the third quarter of 2024. The company’s net interest income increased by $467 thousand, or 2.1%, reaching $23.0 million for the quarter ended September 30, 2024, compared to $22.5 million for the same period in 2023. The net interest margin also grew by 3 basis points to 3.81% for the quarter, up from 3.78% in the previous year.

Total loans experienced a growth of $49.0 million, or 2.8%, totaling $1.8 billion at September 30, 2024, compared to $1.7 billion at the end of 2023. Similarly, total deposits rose by $101.3 million, or 5.0%, amounting to $2.1 billion at September 30, 2024, from $2.0 billion at the end of 2023. Book value per share increased by $4.77, reaching $34.03 at September 30, 202

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Orange County Bancorp’s 8K filing here.

About Orange County Bancorp

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Orange County Bancorp, Inc, through its subsidiaries, provides commercial and consumer banking products and services, and trust and wealth management services to small businesses, middle-market enterprises, local municipal governments, and individuals. It accepts various deposits, including interest-bearing and noninterest-bearing demand accounts, money market deposit accounts, savings accounts, and certificates of deposit.

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