Corrected: Orange County Bancorp Q2 net income rises 31% to record, boosted by tax benefit

Orange County Bancorp

28/07/2026 21:28

Corrects Net Interest Income to $28.4 mln, from $3.3 mln, in table

Overview
US regional bank's Q2 net income rose 31% to record $13.7 mln
Q2 EPS climbed 17% to $1.02, driven by higher net interest income and tax benefit
Net interest margin rose to 4.44% from 4.06% on lower deposit costs

Outlook
Orange County Bancorp anticipates loan growth to return to more normal levels
Wealth Management division appears to be stabilizing after earlier staff changes

Result Drivers
NET INTEREST INCOME - Higher loan yields and reduced deposit costs drove net interest income growth
TAX BENEFIT - One-time reversal of deferred tax valuation allowance boosted net income
CREDIT LOSS RECOVERY - Net recovery in provision for credit losses due to slower loan growth and improved portfolio
NON-INTEREST INCOME DECLINE - Valuation loss on loans held-for-sale and absence of prior-year gains weighed on non-interest income

Company press release: ID:nGNX6DStHb

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
 
$1.02
 
Q2 Net Income
 
$13.7 mln
 
Q2 Net Interest Income
 
$28.4 mln
 
Q2 Net Interest Margin
 
4.44%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Orange County Bancorp Inc is $39.50, about 4.8% above its July 27 closing price of $37.68
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads
July 27 - Northwest Bancshares Q2 net income rises 59% to record on higher net interest income
July 27 - German American Bancorp Q2 net income rises 21% to record high
July 28 - CF Bankshares Q2 net income rises, sees core earnings to grow in H2 2026

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)