Orange County Bancorp, Inc. Announces Record First Quarter Earnings:
Orange County Bancorp reported record first quarter earnings with net income rising 29.6% year-over-year to $11.3 million, driven by a 45 basis point expansion in net interest margin to 4.40%. Operational metrics improved as deposits grew by $39.4 million and the efficiency ratio bettered to 55.9%, though Wealth Management AUM declined 13% due to market volatility.
Key figures
- Eps
- 0.85
- Efficiency Ratio
- 55.9%
- Net Interest Income
- $27.9 million
- Net Interest Margin
- 4.40%
- Non Performing Loans
- $26.1 million
- Non Performing Loan Ratio
- 1.34%
AI analysis
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