Orange County Bancorp, Inc. /DE/OBT

Orange County Bancorp, Inc. is a New York-based trust company that promises to protect the financial security of individuals with disabilities through Supplemental Needs Trust services, complete with stock-photo solemnity on its trust-services page. The company’s media rail leans on “Bank Statement” commercials that spotlight local business owners, but the latest 10-Q tells a quieter story: for the quarter ending 31 March 2026, the bank reported net income attributable to the parent of $11.3 million, diluted earnings per share of $0.85 on 13.4 million diluted shares, assets of $2.71 billion, and liabilities of $2.41 billion, leaving stockholders’ equity of $291.7 million. Operating cash flow for the period was $10.2 million, while capital expenditure amounted to $563,000-enough to upgrade the office printer and buy a desk plant, not to fund a digital pivot.

The trust-services page and the bank’s media rail still read like a 2018 brochure, but the EDGAR filings show a balance sheet that is quietly solid: no gains or losses on securities sales in the quarter, and a shrinking trust book that fell from $1.9 billion at 31 December 2025 to $1.6 billion at 31 March 2026. The company’s official product rail confirms the trust-services focus, while the SEC submissions JSON confirms the absence of securities-derived income in the period. The gap between the polished story and the plain numbers is wide enough to park a photocopier in.

For evidence, dig into the 10-Q filed 11 May 2026, which records the $291.7 million equity base, $11.3 million net income, $0.85 diluted EPS, $10.2 million operating cash flow, and $563,000 of capital expenditure for the quarter ending 31 March 2026. The trust book shrinkage is documented in the same filing, while the SEC submissions JSON confirms no securities gains or losses. The trust-services page and media rail provide couleur locale, but the filings supply the only numbers that matter.

The operating model is straightforward: Orange Bank & Trust acts as agent or fiduciary for customers’ assets, which totalled $1.6 billion at 31 March 2026, down from $1.9 billion at year-end 2025. There were no proceeds from sales of securities and no associated gains or losses in the quarter, according to the 10-Q. The trust-services page promises to “protect the financial security” of beneficiaries with Supplemental Needs Trust offerings, while the balance sheet quietly manages $2.71 billion in assets and $2.41 billion in liabilities. The discrepancy between the marketing and the mechanics is not a bug; it is the feature.

If you need a chart, the SEC filings and the company’s own rails are the only products on offer today. The EDGAR index for CIK 1754226 is the authoritative source for every filing, and the companyfacts JSON confirms the absence of securities gains or losses. The media and trust-services pages supply the flavour, but the numbers are what they are. The gap between the polished story and the plain numbers remains the only consistently reproducible outcome.

What changed: net income of $11.3 million, $0.85 diluted EPS, and a shrinking trust book. What remains unproven: any material diversification beyond the core trust-services franchise or any step-change in capital efficiency. What would deepen the file: a segment-level breakout in the next 10-Q, a disclosure of fee-per-trust trends, or an update on the $563,000 of capital expenditure-was it a printer, a pot plant, or something more strategic?