ORANGE COUNTY BANCORP, INC. ANNOUNCES FIRST QUARTER RESULTS
MIDDLETOWN, N.Y., APRIL 27, 2020 – Orange County Bancorp, Inc. (the “Company” – OTCQX: OCBI), parent of Orange Bank & Trust Co. (the “Bank”) and Hudson Valley Investment Advisors, Inc. (HVIA), today announced net income of $2.4 million, or $0.54 per share, for the three months ended March 31, 2020. This compares with net income of $2.9 million, or $0.65 per share, for the three months ended December 31, 2019 and $2.2 million, or $0.50 per share, for the three months ended March 31, 2019.
“While I am pleased with the Bank’s results for the quarter, the economic hardship and concerns our customers and the community are experiencing as a result of the COVID-19 shutdown dulls any sense of celebration.” said Michael Gilfeather, President and Chief Executive Officer. “In my opinion, the most remarkable thing about the quarter, though strong financially, was the commitment of our team to help clients effectively manage these challenging circumstances.
To read our full press release click here.