- Net income for Q4 2022 reached a quarterly record $9.1 million, a $3.6 million, or 65.0% increase, over net income of $5.5 million in Q4 2021, due primarily to increased interest income
- Net income for fiscal year 2022 reached a record $24.4 million, a $3.1 million, or 14.4% increase, over net income of $21.3 million in fiscal year 2021, also due primarily to increased interest income
- Total assets increased $144.8 million, or 6.8%, to $2.3 billion at December 31, 2022 from $2.1 billion at December 31, 2021
- Total loans grew $278.0 million, or 21.5%, to $1.6 billion at December 31, 2022 from $1.3 billion at December 31, 2021
- Total deposits were $2.0 billion at December 31, 2022, as compared to $1.9 billion at December 31, 2021, an increase of $60.0 million, or 3.1%
- Net interest margin for Q4 2022 rose 102 basis points, or 32.9%, to 4.12% from 3.10% for Q4 2021
- Annualized return on average assets of 1.58% for the three months ended December 31, 2022 increased 56 basis points, or 54.9%, versus the same period in 2021
- Annualized return on average equity of 19.41% for the three months ended December 31, 2022 increased 733 basis points, or 60.7%, versus the same period in 2021
Orange County Bancorp, Inc. Announces Record Quarterly and Annual Earnings:
Jan 26, 2023
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