Orange County Bancorp Announces Two-for-One Stock Split

Orange County Bancorp, Inc. (NASDAQ: OBT) disclosed in a filing with the SEC on December 26, 2024, that the company is set to undergo a two-for-one forward stock split. This decision, authorized by the Board of Directors, will entail an amendment to the Company’s Certificate of Incorporation, as amended, and will result in a proportional increase in the number of authorized common stock shares.

As a result of the stock split, each record holder of Orange County Bancorp’s common stock as of the market close on Thursday, January 9, 2025, will receive an additional share of common stock. The distribution of the additional shares will occur after the market closes on Friday, January 10, 2025. Trading activities, following the stock split, are anticipated to commence on a split-adjusted basis at the market opening on Monday, January 13, 2025.

The Board of Directors views this stock split as beneficial for their shareholders. Orange County Bancorp foresees that the reduced trading price per share and the increased number of outstanding shares will enhance stock accessibility and engender fresh interest from investors. The par value per share of the common stock will also be lowered from $0.50 to $0.25 as a result of the split.

In a statement, Michael Gilfeather, President and CEO, expressed satisfaction that the Board of Directors concluded that the stock split would be advantageous for shareholders. He emphasized that the company’s strategic focus remains on delivering consistent performance and improving shareholder value.

Orange County Bancorp, Inc. operates as the parent company of Orange Bank & Trust Company and Hudson Valley Investment Advisors, Inc. Orange Bank & Trust Company, founded over 125 years ago, has expanded its total assets to approximately $2.5 billion through unwavering commitment and innovation. Hudson Valley Investment Advisors, Inc., a Registered Investment Advisor located in Goshen, NY, was acquired by the company in 2012.

The company advises readers to exercise caution when interpreting forward-looking statements. Factors such as economic conditions, competitive products, regulatory changes, interest rates, credit risks, and geopolitical factors could influence the company’s financial performance in the future. Orange County Bancorp does not commit to releasing updates to forward-looking statements to reflect changes in circumstances or events after the initial statement date.

For additional information, individuals can contact Michael Lesler, EVP & Chief Financial Officer, via email at [email protected] or by phone at (845) 341-511.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Orange County Bancorp’s 8K filing here.

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.