Orange County Bancorp Q2 net income jumps 331% to $9.1M; EPS $1.61 vs $0.38

Orange County Bancorp, Inc. /DE/

2023-Q2 EPS reported $2.19

Net income $9.1M for Q2 2023 vs $2.1M in Q2 2022; diluted EPS $1.61 vs $0.38.
Total loans grew 9.2% to $1.7B; total deposits rose 8.3% to $2.1B, from year-end 2022.
Non-performing loans improved to 0.32% of total loans, down from 0.54% at Dec 31, 2022.
Net interest margin expanded to 3.81% from 3.14% a year ago; efficiency ratio improved to 55.8%.
Tangible book value per share increased 7.7% to $25.08; trust and advisory income up 10% to $2.6M.

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