MIDDLETOWN – Orange County Trust Company, founded 124 years ago, has changed its name to support its strategic plan for future growth and expand its operations regionally with a focus on business banking. The institution is now called Orange Bank & Trust Company.
The name change was formally announced on Friday at the bank’s headquarters on Dolson Avenue in the Middletown.
Gilfeather, with scissors, surrounded by business leaders, elected officials, for the ceremonial ribbon cutting
In recent years, the bank, which for over a century had branches just in Orange County, spread its wings and opened locations in Dutchess, Westchester and Rockland counties, noted bank President Michael Gilfeather.
“In order to remain independent, and remain independent for a long
time, and that’s our goal, we needed to grow,” he told a ribbon
cutting ceremony crowd. “The nature of our business is in order
to continue long into the future, we just need to have more revenues because
we have more regulatory, we have more IT challenges, and in order to do
that, we needed to get larger and expand,”
Gilfeather said that because of the branch expansion and growth of the bank, the number of employees has also grown.