Net interest income reached $27.9 million in 2026Q1, reflecting an 18.1% year-over-year expansion despite a net interest margin that has remained constrained between 0.9% and 1.1% over the last ten quarters.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|
| Net Interest Income | 108.33M | 104.06M | 91.77M | 88.39M | 78.09M | 60.46M | 48.74M | 43.28M | 35.91M | 30.26M | 25.84M | 21.08M | 0 | 0 | 0 | -3.26M |
| NII Growth % | 62.45% | 13.39% | 3.82% | 13.19% | 29.15% | 24.05% | 12.61% | 20.52% | 18.66% | 17.13% | 22.59% | - | - | - | 100% | - |
| Net Interest Margin % | 4% | 3.91% | 3.66% | 3.56% | 3.41% | 2.82% | 2.93% | 3.52% | 3.37% | 3.15% | 2.84% | 2.56% | 0% | 0% | 0% | -0.51% |
| Interest Income | 137.49M | 134.98M | 127.23M | 117.77M | 84.22M | 64.43M | 53.46M | 48.3M | 38.7M | 33.13M | 29.76M | 25.23M | 0 | 0 | 0 | 0 |
| Interest Expense | 29.16M | 30.93M | 35.46M | 29.38M | 6.13M | 3.97M | 4.72M | 4.84M | 2.79M | 2.87M | 3.92M | 4.16M | 0 | 0 | 0 | 3.26M |
| Loan Loss Provision | 7.55M | 7.75M | 7.71M | 7.87M | 9.52M | 2.43M | 5.41M | 2.19M | 2.46M | 1.78M | 1.79M | 5.88M | 0 | 0 | 0 | 27.59M |
| Non-Interest Income | 18.75M | 23.15M | 15.86M | 13.3M | 11.78M | 11.57M | 10.97M | 9.26M | 9.18M | 9.23M | 8.53M | 8.46M | 28.4M | 26.57M | 25.34M | 30.85M |
| Non-Interest Income % | 12% | 14.64% | 11.08% | 10.15% | 12.27% | 15.22% | 17.02% | 16.09% | 19.17% | 21.8% | 22.27% | 25.11% | 100% | 100% | 100% | 100% |
| Total Revenue | 156.24M | 158.13M | 143.09M | 131.07M | 96M | 76M | 64.43M | 57.56M | 47.88M | 42.36M | 38.29M | 33.7M | 28.4M | 26.57M | 25.34M | 30.85M |
| Revenue Growth % | 32.33% | 10.51% | 9.17% | 36.52% | 26.32% | 17.96% | 11.94% | 20.23% | 13.01% | 10.65% | 13.62% | 18.67% | 6.88% | 4.85% | -17.87% | - |
| Non-Interest Expense | 68.85M | 67.9M | 65.1M | 56.67M | 50.08M | 42.92M | 39.78M | 36.12M | 33.44M | 31.22M | 28.21M | 25.57M | 20.65M | 16.09M | 15.25M | 3.42M |
| Efficiency Ratio | 44.07% | 42.94% | 45.5% | 43.24% | 52.16% | 56.48% | 61.74% | 62.74% | 69.86% | 73.69% | 73.69% | 75.87% | 72.71% | 60.54% | 60.17% | 11.1% |
| Operating Income | 50.68M | 51.56M | 34.82M | 37.15M | 30.28M | 26.68M | 14.52M | 14.41M | 9.18M | 6.5M | 4.36M | -1.91M | 10.95M | 10.48M | 10.53M | 9.85M |
| Operating Margin % | 32.44% | 32.6% | 24.33% | 28.34% | 31.54% | 35.1% | 22.53% | 25.03% | 19.17% | 15.35% | 11.38% | -5.67% | 38.57% | 39.46% | 41.56% | 31.94% |
| Operating Income Growth % | - | 48.07% | -6.27% | 22.7% | 13.49% | 83.75% | 0.76% | 56.96% | 41.17% | 49.22% | 328.05% | -117.45% | 4.48% | -0.46% | 6.88% | - |
| Pretax Income | 54.86M | 51.56M | 34.82M | 37.15M | 30.28M | 26.68M | 14.52M | 14.41M | 9.18M | 6.5M | 4.36M | -1.91M | 7.75M | 8.12M | 10.09M | 9.85M |
| Pretax Margin % | 35.11% | 32.6% | 24.33% | 28.34% | 31.54% | 35.1% | 22.53% | 25.03% | 19.17% | 15.35% | 11.38% | -5.67% | 27.29% | 30.56% | 39.83% | 31.94% |
| Income Tax | 10.66M | 9.94M | 6.93M | 7.67M | 5.91M | 5.39M | 2.84M | 2.93M | 1.63M | 4.15M | 721K | -1.75M | 1.55M | 1.61M | 2.31M | 2.25M |
| Effective Tax Rate % | 19.44% | 19.28% | 19.92% | 20.65% | 19.53% | 20.2% | 19.56% | 20.32% | 17.73% | 63.85% | 16.54% | 91.63% | 20.04% | 19.83% | 22.92% | 22.86% |
| Net Income | 44.19M | 41.61M | 27.88M | 29.48M | 24.36M | 21.29M | 11.68M | 11.48M | 7.55M | 2.35M | 3.64M | -160K | 6.2M | 6.51M | 7.78M | 7.6M |
| Net Margin % | 28.29% | 26.32% | 19.49% | 22.49% | 25.38% | 28.01% | 18.13% | 19.95% | 15.77% | 5.55% | 9.5% | -0.47% | 21.82% | 24.5% | 30.7% | 24.64% |
| Net Income Growth % | 61.9% | 49.25% | -5.41% | 21% | 14.45% | 82.27% | 1.72% | 52.03% | 221.22% | -35.36% | 2373.13% | -102.58% | -4.79% | -16.33% | 2.35% | - |
| Net Income (Continuing) | 44.19M | 41.61M | 27.88M | 29.48M | 24.36M | 21.29M | 11.68M | 11.48M | 7.55M | 2.35M | 3.64M | -160K | 6.2M | 6.51M | 7.78M | 7.6M |
| EPS (Diluted) | 3.31 | 3.33 | 2.47 | 2.62 | 2.17 | 2.14 | 1.30 | 1.28 | 0.94 | 0.30 | 0.93 | -0.04 | 1.58 | 1.66 | 1.98 | 1.93 |
| EPS Growth % | 41.08% | 34.82% | -5.73% | 20.74% | 1.4% | 64.62% | 1.56% | 36.17% | 213.33% | -67.74% | 2373.84% | -102.59% | -4.82% | -16.16% | 2.59% | - |
| EPS (Basic) | - | 3.33 | 2.47 | 2.62 | 2.17 | 2.14 | 1.30 | 1.28 | 0.94 | 0.30 | 0.93 | -0.04 | 1.58 | 1.66 | 1.98 | 1.93 |
| Diluted Shares Outstanding | 13.35M | 12.51M | 11.3M | 11.26M | 11.24M | 9.94M | 9.02M | 8.97M | 8.07M | 7.83M | 3.91M | 3.91M | 3.91M | 3.92M | 3.93M | 3.93M |
CRE concentration and provisioning
As reported in recent financial filings, OBT has demonstrated a consistent upward trajectory in net interest income, reaching $27.9 million in 2026Q1, which represents an 18.1% year-over-year growth rate, suggesting that the bank is successfully navigating the current interest rate environment through disciplined loan volume expansion.
The consistent growth in NII suggests that the bank's commercial lending engine remains effective at capturing yield despite broader industry headwinds. Investors should monitor whether this momentum can be sustained without compromising credit quality as the bank expands into more competitive urban markets like the Bronx.
Based on the provided quarterly data, OBT's net interest margin has remained relatively stable, hovering between 0.9% and 1.1% over the last ten quarters, indicating that the bank has managed to balance asset yields against the rising cost of deposits in a competitive regional landscape.
The narrow range of NIM fluctuation suggests a degree of resilience in the bank's funding base, likely supported by its sticky, high-net-worth deposit relationships. However, the lack of significant margin expansion warrants further investigation into whether deposit betas are beginning to accelerate as the bank scales.
According to the bank's income statement data, the efficiency ratio has fluctuated between 40.7% and 50.8% over the past ten quarters, reflecting the inherent costs of maintaining a high-touch, advisory-led service model while simultaneously pursuing geographic expansion into new New York metropolitan territories.
The variability in the efficiency ratio appears to correlate with periods of aggressive expansion, suggesting that overhead absorption may be temporarily pressured by the costs of entering new markets. Analysts should watch for a stabilization of this ratio as these new offices reach a more mature operating scale.
As evidenced by the quarterly income statements, provision for credit losses has shown significant volatility, peaking at $7.2 million in 2024Q3 before dropping to zero in 2026Q1, which may indicate a reactive approach to credit risk management rather than a strictly formulaic, through-the-cycle provisioning strategy.
The sharp swings in provision expense suggest that the bank's earnings are highly sensitive to specific credit events or changes in management's outlook on the CRE portfolio. This volatility makes it difficult to ascertain the true underlying credit risk, necessitating a closer look at non-performing asset trends.
Based on the reported figures, non-interest income has shown meaningful variability, reaching a high of $7.3 million in 2025Q2 before falling to zero in 2026Q1, which highlights a potential dependency on lumpy, transaction-based wealth management fees rather than purely recurring, stable AUM-based revenue streams.
The absence of fee income in the most recent quarter is a notable outlier that warrants further investigation into the sustainability of the wealth management segment. If this revenue stream remains inconsistent, the bank's ability to rely on fee income as a buffer against interest rate volatility may be overstated.
Quick answers to the most common questions about buying OBT stock.
Orange County Bancorp, Inc. (OBT) is profitable, generating $41.6M in net income for the fiscal year ending 2025 with a net profit margin of 26.3%.
Orange County Bancorp, Inc. (OBT) reported an operating income of $51.6M, resulting in an operating profit margin of 32.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Orange County Bancorp, Inc. (OBT) generated $119.5M in gross profit for the year, representing a gross profit margin of 75.5%. This demonstrates the company's core pricing power and production efficiency.