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Orange County Bancorp, Inc. (NASDAQ:OBT) announced that on Tuesday, Director Gustave “Gus” J. Scacco resigned from the company’s Board of Directors. According to a statement released in a regulatory filing, Mr. Scacco also stepped down as Chief Executive Officer and Chief Investment Officer of Hudson Valley Investment Advisors, Inc., a subsidiary of Orange County Bancorp. The company, which trades at a P/E ratio of 10.3x and maintains an impressive 18-year streak of consistent dividend payments, currently shows signs of being undervalued based on InvestingPro’s Fair Value analysis.
The company, headquartered in Middletown, New York, disclosed the leadership changes in a Form 8-K submitted to the Securities and Exchange Commission. No additional details regarding the reasons for Mr. Scacco’s resignation were provided in the filing.
This information is based on a press release statement contained in the SEC filing.
In other recent news, Orange Bank & Trust Company announced the promotion of Elizabeth Jones to Executive Vice President. Jones, who joined the bank in 2016, has held several key positions, including Chief Operating Officer since 2022. Her promotion reflects her continued contributions to the company, as she previously advanced to Director of Operations in 2021 and then to Senior Vice President, Chief Operating Officer in 2022. This development highlights Orange Bank & Trust’s commitment to advancing its leadership team from within. The company did not disclose any additional financial or strategic updates at this time. There were no recent earnings reports or revenue figures released in conjunction with this announcement. Additionally, no mergers or acquisitions were reported, nor were there any analyst upgrades or downgrades mentioned. This promotion is part of the company’s ongoing efforts to strengthen its executive team.
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