Orange County Bancorp, a New York bank with 14 full-service branches across the Lower Hudson Valley, raised $34 million by offering 1 million shares at $33.50, within the range of $32 to $35. The company offered 0.1 million more shares than anticipated.
Orange County Bancorp is a bank holding company that operates through its wholly owned subsidiaries Orange Bank & Trust and Hudson Valley Investment Advisors. The company offers full-service commercial and consumer banking products and services and trust and wealth management services to small businesses, middle-market enterprises, local municipal governments, and affluent individuals. It also offers a variety of deposit accounts to businesses and consumers, including a full line of municipal banking accounts, through its 14 branch offices and one loan production office. As of March 31, 2021, the company had $1.9 billion in assets, $1.2 billion in loans, $1.7 billion in deposits, and $135 million in stockholders' equity.
Orange County Bancorp plans to list on the Nasdaq under the symbol OBT. Piper Sandler, and Stephens Inc. acted as joint bookrunners on the deal.
