Orange County Bancorp (OBT) announced that its Board of Directors declared a two-for-one forward stock split of the company’s common stock. Each record holder of common stock on Thursday, January 9, 2025 will receive one additional share of common stock after the market close on Friday, January 10, 2025. Trading is expected to commence on a split-adjusted basis at market open on Monday, January 13, 2025. The Stock Split will be effectuated by the filing of an amendment to the company’s Certificate of Incorporation and will result in a proportionate increase in the number of shares of authorized common stock. The company anticipates that the outstanding shares of common stock after the Stock Split will increase from approximately 5.7M shares to 11.4M shares. The par value per share of the company’s common stock will be reduced from 50c par value to 25c par value.
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