Company Profile
- Orange County Bancorp, Inc. (NASDAQ: OBT) (“Orange”) is the BHC for main subsidiary, Orange Bank & Trust Company (“the bank”), which operates 16 branches in the NYC MSA, primarily within the Lower Hudson Valley. Among community banks (<$10 billion in assets), OBT holds the 2nd-largest deposit market share in that region. While the legacy footprint is centered in Orange County, future growth is expected to come primarily from Westchester, Rockland, and Bronx Counties. These are markets where management has extensive experience leading institutions that were primarily acquired by larger banks, leaving a gap in the competitive landscape that Orange is positioned to fill. Given the disruption in its markets, organic balance sheet growth has been fairly strong in recent years, which is expected to persist in the high-single digits.
- Unlike many banks operating in the competitive NYC MSA, Orange boasts an enviable deposit franchise, which is primarily…