Orange County Bancorp Q3 net income up 15.1% to $9.0M; EPS $1.61

Orange County Bancorp, Inc. /DE/

2023-Q3 EPS reported $3.79

Net income of $9.0M ($1.61 EPS) vs $7.9M ($1.40) a year ago; net interest margin improved to 3.78%.
Total assets reached $2.5B (+7.0% from year-end 2022); loans grew 8.8% to $1.7B; deposits rose 6.6% to $2.1B.
Trust & investment advisory income up 15% to $2.6M; provision for credit losses fell to $837K from $2.1M.
Book value per share $25.49 (+4.1% vs Dec 2022); tangible book value $24.34.
Bank maintained well-capitalized status; Tier 1 capital ratio 9.26%; non-performing loans 0.56% of total loans.

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