Orange County Bancorp, Inc. · NASDAQ:OBT
Orange County Bancorp — Investor Presentation (May 2022)
15 slides from Orange County Bancorp's investor presentation, May 5, 2022
Slide 1: Investor Presentation May 2022
orange ORD. BANCO! , Inc. INVESTOR Presentation May 2022
Slide 2: Forward Looking Statements
Forward Looking Statements Forward - Looking Statements This presentation contains, and future oral and written statements by us and our management may contain, forward - looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act
Slide 3: Franchise Overview
Franchise Overview 3 1) See Slide 15 for non - GAAP reconciliation information. 2) Bank - level regulatory data. 3) There are 3 branches located in Middletown. Background ▪ Bank was established in 1892 and has operated successfully for over 130 years ▪ Successfully completed IPO and NASDAQ listing o
Slide 4: Structure & Scope: Balanced, Client-Driven Business Model
Structure & Scope Balanced, Client - Driven Business Model 4 Business Banking Private Banking Orange Wealth Management • 15 branches • Focus on small to medium sized businesses in the communities served • Seasoned lenders with significant regional and industry expertise • Comprehensive product offer
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 ($000) Source: FDIC, S&P Global Market Intelligence. Note : FIDC deposit data as of June 30, 2021. 1) Defined as Lower Hudson Valley region, includes Orange,
Slide 6: Business Strategy
Business Strategy 6 Note: Financial data as of March 31, 2022. Leverage Relationships to Drive Organic Growth Derive Loan Growth Through Differentiated Service Continue to Grow Core Deposit Franchise Continue to Build Fee - Based Business Capitalize on Market Disruption Strategic Expansion • The Ban
Slide 7: Consistent History of Growth
$1,066 $1,230 $1,665 $2,143 $2,281 2018 2019 2020 2021 2022Q1 $738 $892 $1,083 $1,253 $1,322 2018 2019 2020 2021 2022Q1 $109 $122 $135 $183 $165 2018 2019 2020 2021 2022Q1 $905 $1,083 $1,489 $1,914 $2,074 2018 2019 2020 2021 2022Q1 Consistent History of Growth 7 Current Success is Attributed to Disc
Slide 8: Strong and Consistent Historical Profitability
3.71 3.88 3.36 3.15 3.08 3.36 3.33 3.09 3.15 3.17 2018 2019 2020 2021 YTD 2022 OBT Local Peers $35.9 $43.3 $48.7 $60.5 $16.3 $10.0 $9.8 $11.4 $12.1 $3.0 $45.9 $53.1 $60.1 $72.6 $19.3 2018 2019 2020 2021 YTD 2022 Net Interest Income Noninterest Income 0.73% 0.97% 0.76% 1.06% 0.95% 8.18% 9.94% 9.02% 1
Slide 9: Loan Composition
Loan Composition 9 Note: Financial data as of March 31, 2022. 1) CRE Loans as a % of Total Risked - Based Capital; Bank - level regulatory data. 2) Excluding PPP loans. CRE 65% C&I 19% CRE Construction 8% Residential RE 5% Home Equity 1% Consumer 1% PPP 1% Total Loans: $ 1.3 Billion 375% CRE Concent
Slide 10: Leading Core Deposit Franchise
0.14% 0.13% 0.24% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% Avg. Fed Funds Rate OBT Local Peers Leading Core Deposit Franchise Areas of Focus • Keys to Success x Dedicated Deposit Relationship managers x Investment into Treasury / Cash management product suite • Escrow x Attractable DDA capture • Mu
Slide 11: First Quarter 2022 Highlights & Below Peer Valuation
First Quarter 2022 Highlights & Below Peer Valuation 11 ▪ Significant organic growth continues ― QoQ gross loan growth ex. PPP was 21.8% (annualized) ― Deposit inflows continue ▪ Solid profitability metrics ― Annualized ROAA and ROAE of 0.95% and 11.89% ▪ Credit quality remains strong ― Net charge -
Slide 12: Investment Highlights
Strong, Low Cost Deposit Base: 36% Noninterest bearing, 13bps Total Cost 1 Highly Attractive Market Geography and Scarcity Value of Franchise Complementary Offerings in Private Banking and Trust & Wealth Businesses Demonstrated Loan Growth Driven by Differentiated Service Strong and Experienced Mana
Slide 13: 13
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Slide 14: Senior Leadership Team
14 Michael J. Gilfeather President & Chief Executive Officer Robert Peacock Senior Executive Vice President Chief Financial Officer Michael Coulter Executive Vice President Chief Lending Officer Joseph A. Ruhl Executive Vice President Regional President – Westchester Greg Sousa Executive Vice Presid
Slide 15: Non-GAAP Reconciliation
Non - GAAP Reconciliation 15 Dollar Values in Thousands As of the Year Ended December 31, 3 months Ended, 2018 2019 2020 2021 3/31/2022 Total Common Equity 109,279 122,063 135,423 182,836 164,549 Goodwill 5,359 5,359 5,359 5,359 5,359 Other Intangibles 2,535 2,249 1,963 1,678 1,606 Less: Total Intan
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