On October 30, 2024, Orange County Bancorp, Inc. (NASDAQ: OBT) reported its financial performance for the third quarter of 2024. The company’s net interest income increased by $467 thousand, or 2.1%, reaching $23.0 million for the quarter ended September 30, 2024, compared to $22.5 million for the same period in 2023. The net interest margin also grew by 3 basis points to 3.81% for the quarter, up from 3.78% in the previous year.
Total loans experienced a growth of $49.0 million, or 2.8%, totaling $1.8 billion at September 30, 2024, compared to $1.7 billion at the end of 2023. Similarly, total deposits rose by $101.3 million, or 5.0%, amounting to $2.1 billion at September 30, 2024, from $2.0 billion at the end of 2023. Book value per share increased by $4.77, reaching $34.03 at September 30, 202
About Orange County Bancorp
Orange County Bancorp, Inc, through its subsidiaries, provides commercial and consumer banking products and services, and trust and wealth management services to small businesses, middle-market enterprises, local municipal governments, and individuals. It accepts various deposits, including interest-bearing and noninterest-bearing demand accounts, money market deposit accounts, savings accounts, and certificates of deposit.
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