Orange nty Bancorp(US:OBT) Globenewswireยท2025-10-29 20:15Core Insights - Orange County Bancorp, Inc. reported a significant increase in net income for Q3 2025, reaching $10.0 million, a 211.5% increase from $3.2 million in Q3 2024, driven by higher net interest income and non-interest income, along with a reduced provision for credit losses [1][10][11] Financial Performance - Net income for the nine months ended September 30, 2025, was $29.2 million, compared to $20.7 million for the same period in 2024 [1][10] - Net interest income rose by $4.0 million, or 17.3%, to $27.0 million for Q3 2025, compared to $23.0 million in Q3 2024 [11][12] - Non-interest income increased by $2.6 million, or 62.6%, to $6.8 million for Q3 2025, compared to $4.2 million in Q3 2024 [16] Asset and Deposit Growth - Total loans increased by $119.9 million, or 6.6%, reaching $1.9 billion at September 30, 2025, compared to $1.8 billion at December 31, 2024 [22][24] - Total deposits rose by $125.5 million, or 5.8%, to $2.3 billion at September 30, 2025, from $2.2 billion at year-end 2024 [5][24] Capital and Book Value - Book value per share increased by $3.86, or 23.6%, from $16.35 at December 31, 2024, to $20.21 at September 30, 2025 [2][34] - Stockholders' equity increased by approximately $84.6 million during the first nine months of 2025, reaching $270.1 million at September 30, 2025 [26] Efficiency and Cost Management - Non-interest expense for Q3 2025 was $16.8 million, reflecting a 5.6% increase from $16.0 million in Q3 2024, with an improved efficiency ratio of 49.9% [17][42] - The cost of deposits decreased to 1.13%, down 17 basis points from the previous quarter [5][6] Wealth Management Division - The Wealth Management division's trust and investment advisory income increased by $416 thousand, or 13.3%, to $3.5 million for Q3 2025 compared to $3.1 million for Q3 2024 [7][28]