Quarterly ResultApr 28, 2026, 05:07 PM
OBT Q1 Net Income +29.6% to $11.3M; EPS $0.85; NIM 4.40%
AI Summary
Orange County Bancorp, Inc. announced record first quarter earnings for 2026, with net income increasing 29.6% to $11.3 million and earnings per share growing 10.4% to $0.85. The company reported a 45 basis point increase in Net Interest Margin to 4.40% and a 1.7% rise in total deposits to $2.4 billion. While total loans remained stable, the Wealth Management division experienced a 5.0% decrease in earnings.
Key Highlights
- Net Income increased 29.6% to $11.3 million for the quarter ended March 31, 2026.
- Earnings per share grew 10.4% to $0.85 for the quarter ended March 31, 2026.
- Net Interest Margin increased 45 basis points to 4.40% for the three months ended March 31, 2026.
- Total Deposits increased 1.7% to $2.4 billion at March 31, 2026.
- Book value per share grew 2.3% to $21.75 at March 31, 2026.
- Total Loans remained relatively level at approximately $2.0 billion at March 31, 2026.
- Wealth Management earnings decreased 5.0% to $3.3 million for the three months ended March 31, 2026.