Orange County Bancorp to Acquire Hudson Valley Investment Advisors

Ticker: OBT · Form: 8-K · Filed: Jun 20, 2024 · CIK: 1754226

Orange County Bancorp, Inc. /De/ 8-K Filing Summary
FieldDetail
CompanyOrange County Bancorp, Inc. /De/ (OBT)
Form Type8-K
Filed DateJun 20, 2024
Risk Levelmedium
Pages2
Reading Time3 min
Key Dollar Amounts$0.50
Sentimentneutral

Sentiment: neutral

Topics: acquisition, wealth management, asset purchase

TL;DR

OCBC buying HVIA assets to boost wealth management. Deal expected Q4 2024.

AI Summary

Orange County Bancorp, Inc. announced on June 20, 2024, that it has entered into a definitive agreement to acquire substantially all of the assets and assume certain liabilities of Hudson Valley Investment Advisors, Inc. (HVIA). The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions. This acquisition will expand Orange County Bancorp's wealth management capabilities.

Why It Matters

This acquisition will bolster Orange County Bancorp's wealth management services, potentially leading to increased fee income and a more diversified revenue stream for the company.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential regulatory hurdles, and the possibility that the acquired entity may not perform as expected.

Key Players & Entities

  • Orange County Bancorp, Inc. (company) — Acquiring company
  • Hudson Valley Investment Advisors, Inc. (company) — Target company
  • June 20, 2024 (date) — Announcement date
  • fourth quarter of 2024 (date) — Expected closing period

FAQ

What is the primary purpose of this 8-K filing?

This 8-K filing is to report the entry into a definitive agreement for Orange County Bancorp, Inc. to acquire substantially all of the assets and assume certain liabilities of Hudson Valley Investment Advisors, Inc.

When is the acquisition of Hudson Valley Investment Advisors, Inc. expected to close?

The acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions.

What type of business is Hudson Valley Investment Advisors, Inc.?

While not explicitly stated in the provided text, the name 'Hudson Valley Investment Advisors, Inc.' and the context of the acquisition by a bank holding company suggest it is involved in investment advisory or wealth management services.

What are the key terms of the agreement between Orange County Bancorp and Hudson Valley Investment Advisors?

Orange County Bancorp, Inc. has entered into a definitive agreement to acquire substantially all of the assets and assume certain liabilities of Hudson Valley Investment Advisors, Inc.

What is the filing date of this 8-K report?

The filing date of this 8-K report is June 20, 2024.

Filing Stats: 640 words · 3 min read · ~2 pages · Grade level 11 · Accepted 2024-06-20 07:30:18

Key Financial Figures

  • $0.50 — registered Common Stock, par value $0.50 OBT The Nasdaq Stock Market, LLC

Filing Documents

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure On June 20, 2024, Orange County Bancorp, Inc. (the "Company"), parent company of Orange Bank & Trust Company and Hudson Valley Investment Advisors, made available and distributed to analysts and prospective investors a slide presentation. The slide presentation will be reviewed with certain analysts and certain institutional investors at the Stephens Inc. Summer Bank Bash on June 20, 2024. The presentation materials include information regarding the Company's operating and growth strategies and financial performance. The slide presentation is furnished in this Current Report on Form 8-K, pursuant to this Item 7.01, as Exhibit 99.1, and is incorporated herein by reference. This Current Report and the information included below and furnished as exhibits hereto shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended ("Exchange Act"), nor shall it be incorporated by reference into a filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing. The furnishing of the information in this Current Report is not intended to, and does not, constitute a determination or admission by the Company that the information in this report is material or complete, or that investors should consider this information before making an investment decision with respect to any security of the Company or any of its affiliates.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (a)

Financial statements of businesses acquired. None

Financial statements of businesses acquired. None. (b) Pro forma financial information. None. (c) Shell company transactions: None. (d) Exhibits. 99.1 Presentation Materials of Orange County Bancorp, Inc. 104 Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. ORANGE COUNTY BANCORP, INC. DATE: June 20, 2024 By: /s/Michael Lesler Michael Lesler Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR

View on ReadTheFiling | About | Contact | Privacy | Terms

Data from SEC EDGAR. Not affiliated with the SEC. Not investment advice. © 2026 OpenDataHQ.