Orange County Bancorp, Inc. reported a notable increase in its financial performance for the second quarter of 2025, with net income rising to $10.5 million, a 27.4% increase from $8.2 million in the same period last year. For the first half of 2025, net income reached $19.2 million, up 9.5% from $17.5 million in the prior year. The growth in net income was primarily driven by a $1.0 million increase in net interest income and a significant $3.5 million rise in noninterest income, which included gains from the sale of a branch and bank-owned life insurance proceeds.
Total assets for the company increased by $96.3 million, or 3.8%, to $2.6 billion as of June 30, 2025, compared to $2.5 billion at the end of 2024. This growth was largely attributed to a $99.7 million increase in net loans, which reached $1.9 billion, and a $25.3 million rise in cash and due from banks. However, investment securities available for sale decreased by $33.0 million during the same period. The company’s total deposits also saw a 5.7% increase, amounting to $2.3 billion, driven by growth in non-interest-bearing and interest-bearing demand deposits.
In terms of operational developments, Orange County Bancorp completed a follow-on common stock offering in June 2025, generating approximately $46.0 million in gross proceeds, which contributed to the increase in stockholders' equity to $252.6 million, a 36.1% rise from $185.5 million at the end of 2024. The company’s loan portfolio composition showed a significant increase in commercial real estate loans, which rose by $72.4 million, and commercial real estate construction loans, which increased by $30.5 million. However, residential real estate and consumer loans experienced declines.
The company’s provision for credit losses was $2.1 million for the second quarter, slightly down from $2.2 million in the same quarter last year, reflecting lower specific reserves associated with certain loans. The allowance for credit losses increased to $28.4 million, representing 1.48% of total loans, compared to 1.60% a year earlier. Non-performing loans rose to $11.7 million, or 0.61% of total loans, primarily due to a single non-accrual commercial real estate loan.
Looking ahead, Orange County Bancorp remains focused on maintaining a strong liquidity position and capitalizing on growth opportunities in its market areas. The company anticipates that its strategic initiatives, including the continued focus on deposit growth and loan originations, will support its financial performance in the coming quarters. The management is also closely monitoring economic conditions and interest rate fluctuations, which could impact future earnings and operational strategies.
About Orange County Bancorp, Inc. /DE/
Orange County Bancorp, Inc. is a bank holding company providing community-focused banking, trust, and wealth management services in the Lower Hudson Valley. Through its subsidiaries, it offers commercial, consumer, and municipal banking, along with asset management and trust services. The company emphasizes personalized service, relationship banking, and diversified loan and deposit portfolios to serve small to medium-sized businesses, high-net-worth clients, and local governments.
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