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- by manilatimes.net
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Orange County Bancorp, Inc. Announces Record Second Quarter 2025 Earnings
Net Income increased $2.3 million, or 27.4%, to $10.5 million for the quarter ended June 30, 2025 from $8.2 million for the quarter ended June 30, 2024Net Interest Income grew $1.0 million, or 4.2%, to $25.1 million for the quarter ended June 30, 2025, as compared to $24.1 million for the quarter ended June 30, 2024Total Deposits rose $123.4 million, or 5.7%, to $2.3 billion at June 30, 2025, from $2.2 billion at year-end 2024Total Loans increased $102.1 million, or 5.6%, to $1.9 billion at June 30, 2025, from $1.8 billion at year-end 2024Book value per share increased $2.55, or 15.6%, to $18.90 at June 30, 2025, from $16.35 at December 31, 2024Trust and investment advisory income rose 14.8%, to $3.4 million for the quarter ended June 30, 2025, from $3.0 million for the quarter ended June 30, 2024 MIDDLETOWN, N.Y., July 30, 2025 (GLOBE NEWSWIRE) -- Orange County Bancorp, Inc. (the 'Company” - Nasdaq: OBT), parent company of Orange Bank & Trust Company (the 'Bank”) and Hudson Valley Investment Advisors, Inc. ('HVIA”), today announced net income of $10.5 million, or $0.87 per basic and diluted share, for the three months ended June 30, 2025. This compares with net income of $8.2 million, or $0.73 per basic and diluted share, for the three months ended June 30, 2024. The increase in earnings per share, basic and diluted, was due primarily to increases in net interest income and total noninterest income partially offset by an increase in non-interest expense during the current period. For the six months ended June 30, 2025, net income reached $19.2 million, or $1.64 per basic and diluted share, as compared to $17.5 million, or $1.55 per basic and diluted share, for the six months ended June 30, 2024.