Orange County Bancorp, Inc., a prominent financial entity encompassing Orange Bank & Trust Co. and Hudson Valley Investment Advisors, Inc., has announced a significant adjustment to its stock split record date amidst the closure of U.S. markets on January 9 as a tribute to the late former President Jimmy Carter.
The Company declared a two-for-one forward stock split (the “Stock Split”) with the record date rescheduled to Wednesday, January 8, 2025, due to market closure on January 9 for the national day of mourning for former President Carter. Shareholders registered as of January 8 will be entitled to an additional share of common stock after market close on Friday, January 10. Trading post-split will commence on Monday, January 13.
This transformative Stock Split involves amending the Company’s Certificate of Incorporation to double the authorized common stock shares from approximately 5.7 million to 11.4 million shares. Furthermore, the par value per share will decrease from $0.50 to $0.25 post-split.
Orange County Bancorp is renowned as the parent company of Orange Bank & Trust Company and Hudson Valley Investment Advisors, Inc., institutions rooted in community commitment and financial excellence over many decades. The bank boasts assets totaling around $2.5 billion and traces its inception back over a century with a vision driven by its founders.
In navigating forward-looking strategies, it’s essential to acknowledge potential risks such as economic fluctuations, regulatory changes impacting financial institutions, cybersecurity threats, geopolitical tensions, and market dynamics that could influence future performance outcomes significantly.
For inquiries or further information about this development at Orange County Bancorp Inc., please contact Michael Lesler – EVP & Chief Financial Officer at [email protected] or call (845) 341-5111.
In conclusion, Orange County Bancorp’s decision regarding the Stock Split amid honoring former President Jimmy Carter underlines its commitment not just towards financial growth but also social responsibility and respect for historical figures who have shaped our nation’s legacy.
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