Slide 1: Investor Presentation November 2024
INVESTOR Presentation November 2024
Slide 2: Safe Harbor Statement and Disclaimer
Safe Harbor Statement and Disclaimer Forward - Looking Statements This presentation contains, and future oral and written statements by us and our management may contain, forward - looking stateme nts within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities E
Slide 3: Franchise Overview
Franchise Overview 3 1) There are 3 branches located in Middletown. Background ▪ Successfully completed IPO and NASDAQ listing in August 2021 ▪ Bank was established in 1892 and has operated successfully for 132 years ▪ Headquartered in Middletown, NY ▪ Premier business bank in the Hudson Valley regi
Slide 4: Structure & Scope: Balanced, Client-Driven Business Model
Structure & Scope Balanced, Client - Driven Business Model 4 Business Banking Private Banking Orange Wealth Management • 16 branches • Focus on small to medium size businesses in the communities served • Seasoned lenders with significant regional and industry expertise • Comprehensive product offeri
Slide 5: Franchise Scarcity Value in Highly Attractive Markets
Franchise Scarcity Value in Highly Attractive Markets 5 Attractive Demographics in a Large, Growing Addressable Market Median Household Income ($000s) 2UDQJH 1< :HVWFKHVWHU 1< 5RFNODQG 1< 6WDWH RI 1< 8 6 2YHUDOO OBT Growth Markets Orange County Westchester & Rockland Counties Bronx County • Attracti
Slide 6: Business Strategy
Business Strategy 6 Note: Financial data as of September 30, 2024 (unaudited) unless otherwise noted. Leverage Relationships to Drive Organic Growth Derive Loan Growth Through Relationship - Based Model Continue to Grow Core Deposit Franchise Continue to Build Fee - Based Business Strategic Expansio
Slide 7: Consistent History of Growth
)< )< )< 4 )< )< )< 4 )< )< )< 4 )< )< )< 4 Consistent History of Growth 7 Note: Financial data as of September 30, 2024 is unaudited. Source: Company filings. Current Success is Attributed to Disciplined Organic Growth Gross Loans ($M) Total Assets ($M) Consolidated Equity Ex. AOCI ($M) Total Depos
Slide 8: Strong and Consistent Historical Profitability
)< )< )< <7' 1HW ,QWHUHVW ,QFRPH 1RQLQWHUHVW ,QFRPH )< )< )< <7' ò 52$ 52$( )< )< )< <7' Strong and Consistent Historical Profitability 8 Net Interest Margin (%) Net Income ($M) Pre - Provision Revenue ($M) ROAA and ROAE (%) Success Maintaining Strong Profitabilit y Metrics $72 .6 $9 0.1 $ 101.8 $8
Slide 9: Loan Composition
Loan Composition 9 1) CRE and C&D loans as a % of Total Risk - Based Capital; Bank level Call Report data. Note: Financial data as of September 30, 2024 (unaudited) unless otherwise noted. Total Loans: $1.7 Billion Commercial - Focused Portfolio with Conservative Concentrations ▪ Advantageous, relat
Slide 10: Overview of Commercial Real Estate Portfolio
Overview of Commercial Real Estate Portfolio 10 Note: Financial data as of September 30, 2024 (unaudited) unless otherwise noted. CRE Portfolio Geographic Composition CRE Portfolio by Property Type Limited exposure to core NYC metro area with only 4% of the CRE portfolio in Manhattan Non - owner - o
Slide 11: Overview of Multifamily Portfolio
Overview of Multifamily Portfolio 11 Note: Financial data as of September 30, 2024 (unaudited) unless otherwise noted. Multifamily Portfolio Detail Multifamily Portfolio Geographic Composition Weighted Average LTV 56.7% Average Loan Size $2.27 Million % of Total Multifamily Portfolio Portfolio Chara
Slide 12: CRE Office Portfolio Overview
CRE Office Portfolio Overview 12 Note: Financial data as of September 30, 2024 (unaudited) unless otherwise noted. Office Portfolio Overview Office Portfolio Geographic Composition % of Total Office Portfolio Portfolio Characteristic None % of Portfolio in Bronx and Queens None % of Portfolio in Man
Slide 13: Credit Quality
Credit Quality 13 1) Local peers include NASDAQ, NYSE and NYSEAM traded U.S. banks and thrifts in the NYC MSA with total assets under $50 billion as of Q3 2024, excluding merger targets and mutuals; peer data sourced from S&P Capital IQ Pro. Note: Financial data as of September 30, 2024 (unaudited)
Slide 14: Liquidity Overview
Liquidity Overview 14 Note: Financial data as of September 30, 2024 (unaudited) unless otherwise noted. Strong Recent Deposit Growth and Significant Borrowing Capacity • Borrowings consist of both short - term and long - term borrowings and provide the Company with one of its sources of funding • Ma
Slide 15: Leading Core Deposit Franchise
Leading Core Deposit Franchise Areas of Focus Keys to Success x Dedicated deposit relationship managers x Investment into customer experience/cash management product suite x Obtain deposit relationships at loan origination Escrow x Attractive DDA capture Municipal Deposits x Comprise 16.0% of total
Slide 16: Conservatively Managed Securities Portfolio
8 6 *RYHUQPHQW $JHQFLHV 0RUWJDJH EDFNHG 6HFXULWLHV &RUSRUDWH 6HFXULWLHV 0XQLFLSDO 6HFXULWLHV Conservatively Managed Securities Portfolio 16 Note: Financial data as of September 30, 2024 (unaudited) unless otherwise noted. ▪ $469.5 million in securities, primarily concentrated in mortgage - backed se
Slide 17: Investment Highlights
Ability to Take Advantage of M&A Driven Market Disintermediation Successful and Ongoing Expansion of Market Footprint Highly Attractive Market Geography and Scarcity Value of Franchise Stable, Low - Cost Deposit Base: 48% Transaction Accounts, 131 bps Total Cost 1 Demonstrated Loan Growth Driven by