- Total Assets increased $250 million, or 11.7%, to $2.4 billion at June 30, 2022 from $2.1 billion at December 31, 2021
- Total Loans grew $180 million, or 13.9%, to $1.5 billion at June 30, 2022 from $1.3 billion at December 31, 2021
- Total Deposits reached $2.2 billion at June 30, 2022, as compared to $1.9 billion at December 31, 2021, representing an increase of $289 million, or 15.1%
- Net Income for Q2 2022 was $2.1 million, a decrease of $3.1 million, or 59.4%, from net income of $5.2 million for Q2 2021, due to an increase in the provision for loan losses
- Provision for Loan Losses of $5.5 million for Q2 2022 increased from $809 thousand in Q2 2021 due to two impaired loan relationships within the syndicated loan segment and growth in the loan portfolio
- Annualized return on average assets of 0.65% for the six months ended June 30, 2022 declined 0.44% versus the same period in 2021
- Annualized return on average equity of 8.84% for the six months ended June 30, 2022 declined 6.11% versus the same period in 2021
- Trust and asset advisory business revenue remained level at approximately $4.7 million for the six months ended June 30, 2022, as compared to the same period in 2021
Orange County Bancorp, Inc. Announces Second Quarter Results
Aug 01, 2022
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