Q3 EPS of $0.93 With 4.45% Net Interest Margin; Net Income $12.5M
OBT sits 64% above its 52-week low of $23.245.
Summary
Orange County Bancorp reported Q3 EPS of $0.93, up 24.6% year over year, net income of $12.5 million, and a net interest margin of 4.45%. The margin figure is the key line for a small bank trading near its 52-week high, since the last reported quarter showed a 45 basis point NIM expansion alongside a 135% jump in non-performing loans. The headline gives no credit-quality update, so the NPL trend from the prior quarter remains the open question. Shares sit just below the $40.10 high, leaving little room for disappointment on asset quality.
At the time of this announcement, OBT was trading at $38.10 on NASDAQ in the Finance sector, with a market capitalization of approximately $510.8M. The 52-week trading range was $23.25 to $40.10. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.