Orange Bank & Trust Company's Growth Strategy Leads to Sale of Fishkill Branch
MIDDLETOWN, N.Y. (December 13, 2017) — The Board of Directors of Orange Bank & Trust Company and CEO Michael Gilfeather today announced that Orange Bank & Trust Company (OBTC) has agreed to sell its bank branch located in Fishkill, New York to Salisbury Bank and Trust Company, a Massachusetts-based bank.
“The changes are in line with the Bank’s planned 2018 initiatives and position us for future growth,” said Gilfeather. “While it was a difficult decision to leave the Fishkill area, having just one Dutchess location did not allow us to leverage our capabilities in a way that makes long-term sense. Our recent success in Westchester and Rockland counties, coupled with our solid presence in Orange County will drive future growth so we remain a leading community bank."
The branch sale is subject to customary closing conditions and is expected to be completed on or before May 1, 2018.
About Orange Bank & Trust Company
An independent community bank beginning with a dream of 14 founders over 125 years ago, Orange Bank and Trust, through conservative banking practices, innovation and commitment to its community, now has assets approaching one billion dollars. Orange Bank & Trust has branches in Orange, Rockland and Westchester counties. While growing, Orange Bank & Trust has continued to focus on providing community banking, based on personal relationships for businesses, governments, organizations and individuals.