Overview

* Orange County Bancorp ( OBT ) Q3 net income rises 211.5% yr/yr to $10 mln

* Net interest income for Q3 increases 17.3% to $27 mln

* Company's net interest margin grows 45 basis points to 4.26%

Outlook

* Company cites robust regional economic activity amid uncertain political and interest rate risks

* Company notes Federal Reserve rate cut may pressure interest rates downward

* Company highlights strategic reduction in deposit costs amid Fed policy changes

Result Drivers

* NET INTEREST INCOME - Driven by a $3.5 mln increase in interest and fees on loans

* DEPOSIT GROWTH - Total deposits increased by $125.5 mln, contributing to lower interest expenses

* CREDIT LOSS PROVISION - Reduced provision for credit losses due to lower specific reserves

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.75

Q3 Net $10.01

Income mln

Q3 Net $26.94

Interest mln

Income

Q3 Net 4.26%

Interest

Margin

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 ( OBT ) is $30.00, about 19.5% above its October 28 closing price of $24.14

* The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release:

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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.)