secwatch.observer — SEC 8-K summary
======================================

Issuer:     Orange County Bancorp, Inc. /DE/ (OBT)
CIK:        0001754226
Form:       8-K
Filed at:   2024-02-01T23:59:59+00:00
Accession:  0000943374-24-000038
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1754226/000094337424000038/0000943374-24-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1754226/000094337424000038/form8k_013124.htm
  HTML page:      https://secwatch.observer/filing/0000943374-24-000038

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer