Orange County Bancorp reports record FY 2023 net income $29.5M, up 21% YoY; Q4 net income $8.1M, down 10.5%

Orange County Bancorp, Inc. /DE/

2023-FY EPS reported $5.24

Net income for full year 2023 reached $29.5M ($5.24 per share), up $5.1M or 21.0% from $24.4M in 2022.
Net interest margin for 2023 was 3.78%, a 26-basis-point increase from 2022.
Total loans grew $177.6M (11.3%) to $1.8B; total deposits rose $64.4M (3.3%) to $2.0B at Dec 31, 2023.
Book value per share increased $4.78 (19.5%) to $29.26; tangible book value per share $28.12.
Q4 2023 net income was $8.1M ($1.44 per share) versus $9.1M ($1.61 per share) in Q4 2022, down 10.5%.

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