MIDDLETOWN- Orange County Bancorp, Inc., parent company of Orange Bank & Trust Co. and Hudson Valley Investment Advisors, Inc. announced today it has been added to the Russell 2000’s Index, one of the most widely watched stock market indexes comprised of 2,000 small-cap U.S. companies.
The recognition represents a significant milestone in the company’s 131-year history, reflecting its continued growth and reputation as an important contributor to New York’s Hudson Valley small-business economy. The last full year ending Dec. 31, 2022, was the company’s most successful on record, with $24.4 million in earnings representing a $3.1 million, or 14.4 percent, increase over 2021. The bank also grew its loan portfolio $278 million, or 21.5 percent, during the period, to $1.6 billion, and saw total deposits reach approximately $2.0 billion both as of year end 2022.
“Earning a position in the Russell 2000 Index – one of the most closely followed stock market indexes in the country and seen by many as a true bellwether of the economy – is a testament to our Company’s outstanding growth and the successful model we’ve built for regional business banking,” said Michael J. Gilfeather, Company President and CEO. “The additional visibility the Russell 2000 Index provides encourages us to continue to expand the quality of service and results we seek to deliver to our clients and investors every day.”
Widely regarded as the Hudson Valley’s premier financial institution for commercial lending, business banking, and wealth management services, the Company has more than $2.4 billion in assets and plays a vital role in spurring region-defining real estate projects, creating jobs for generations of residents, servicing regional municipalities, and maximizing investment in community-serving non-profits. The bank operates 15 offices across New York’s Orange, Rockland, Westchester and Bronx Counties, and employs more than 200 of the industry’s most knowledgeable and client-focused bankers.
