Business Context and Reporting Period
Orange County Bancorp, Inc. filed a Form 8-K dated December 21, 2023, reporting a board-related development involving the Company and its wholly owned subsidiary, Orange Bank & Trust Company.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, or other financial metrics.
Material Change
- Director Terry Saturno advised the boards that she will not stand for re-election at the Company’s next annual meeting.
- Ms. Saturno will resign from the boards of both Orange County Bancorp and Orange Bank & Trust Company effective May 16, 2024.
- She did not cite any disagreement with either the Company or the Bank in connection with her resignation.
Guidance, Outlook, Risks, and Unusual Items
The filing provides no financial guidance, outlook, risk discussion, contingencies, or unusual financial items. The reported board transition could require monitoring for any subsequent disclosures regarding board composition or succession.
Investor Verification Items
- Verify the effective date of Ms. Saturno’s resignation: May 16, 2024.
- Review the Company’s next annual meeting materials for the resulting board composition and any replacement director nominee.
- Confirm through subsequent filings whether any additional governance changes were announced.