Orange County Bancorp, Inc. Adjusts Stock Split Record Date as US Markets Close on January 9 in Honor of National Day of Mourning for Former President Jimmy Carter
Orange County Bancorp (Nasdaq: OBT) has adjusted the record date for its previously announced two-for-one forward stock split to January 8, 2025, due to U.S. markets closing on January 9 in observance of former President Jimmy Carter's passing. Record holders of common stock will receive one additional share after market close on January 10, 2025, with split-adjusted trading beginning on January 13, 2025.
The split will be implemented through an amendment to the Company's Certificate of Incorporation, increasing the total outstanding shares from approximately 5.7 million to 11.4 million. The stock's par value will be reduced from $0.50 to $0.25 per share.
Orange County Bancorp (Nasdaq: OBT) ha modificato la data di registrazione per il frazionamento azionario di due a uno precedentemente annunciato al 8 gennaio 2025, a causa della chiusura dei mercati statunitensi il 9 gennaio in osservanza della scomparsa dell鈥檈x Presidente Jimmy Carter. I titolari di titolo delle azioni ordinarie riceveranno un'ulteriore azione dopo la chiusura del mercato il 10 gennaio 2025, mentre l'inizio della negoziazione con il frazionamento avverr脿 il 13 gennaio 2025.
Il frazionamento sar脿 attuato tramite un emendamento al Certificato di Incorporazione della Societ脿, aumentando il totale delle azioni in circolazione da circa 5,7 milioni a 11,4 milioni. Il valore nominale delle azioni sar脿 ridotto da 0,50 $ a 0,25 $ per azione.
Orange County Bancorp (Nasdaq: OBT) ha ajustado la fecha de registro para su divisi贸n de acciones en dos por uno previamente anunciada al 8 de enero de 2025, debido al cierre de los mercados estadounidenses el 9 de enero en conmemoraci贸n del fallecimiento del ex Presidente Jimmy Carter. Los tenedores de acciones comunes recibir谩n una acci贸n adicional despu茅s del cierre del mercado el 10 de enero de 2025, con el inicio de la negociaci贸n ajustada por la divisi贸n comenzando el 13 de enero de 2025.
La divisi贸n se implementar谩 mediante una enmienda al Certificado de Incorporaci贸n de la Compa帽铆a, aumentando el total de acciones en circulaci贸n de aproximadamente 5,7 millones a 11,4 millones. El valor nominal de las acciones se reducir谩 de 0,50 $ a 0,25 $ por acci贸n.
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Orange County Bancorp (Nasdaq: OBT) a modifi茅 la date d'enregistrement pour son fractionnement d'actions de deux pour un pr茅c茅demment annonc茅 au 8 janvier 2025, en raison de la fermeture des march茅s am茅ricains le 9 janvier en m茅moire de l'ancien Pr茅sident Jimmy Carter. Les d茅tenteurs d'actions ordinaires recevront une action suppl茅mentaire apr猫s la fermeture du march茅 le 10 janvier 2025, le trading ajust茅 pour le fractionnement commen莽ant le 13 janvier 2025.
Le fractionnement sera mis en 艙uvre par un amendement aux statuts de la Soci茅t茅, augmentant le total des actions 茅mises d'environ 5,7 millions 脿 11,4 millions. La valeur nominale de l'action sera r茅duite de 0,50 $ 脿 0,25 $ par action.
Orange County Bancorp (Nasdaq: OBT) hat das Stichtagsdatum f眉r den zuvor angek眉ndigten zwei-zu-eins Aktiensplit auf den 8. Januar 2025 verschoben, da die US-M盲rkte am 9. Januar zum Gedenken an den ehemaligen Pr盲sidenten Jimmy Carter geschlossen sind. 础办迟颈辞苍盲谤别 der Stammaktien erhalten nach Handelsschluss am 10. Januar 2025 eine zus盲tzliche Aktie, wobei der handel nach dem Split am 13. Januar 2025 beginnt.
Der Split wird durch eine 脛nderung des Gesellschaftsvertrags der Gesellschaft umgesetzt, wodurch sich die insgesamt ausgegebenen Aktien von etwa 5,7 Millionen auf 11,4 Millionen erh枚hen wird. Der Nennwert der Aktie wird von 0,50 $ auf 0,25 $ pro Aktie gesenkt.
- Stock split will improve stock liquidity and potentially make shares more accessible to retail investors
- Total market capitalization remains unchanged, preserving shareholder value
- None.
Insights
For retail investors unfamiliar with splits: imagine having a
MIDDLETOWN, N.Y., Jan. 02, 2025 (GLOBE NEWSWIRE) -- Orange County Bancorp, Inc. (the 鈥淐ompany鈥� 鈥� Nasdaq: OBT), parent company of Orange Bank & Trust Co. and Hudson Valley Investment Advisors, Inc., today announced that the record date of its previously declared two-for-one forward stock split (the 鈥淪tock Split鈥�) of the Company鈥檚 common stock will be Wednesday, January 8, 2025 as a result of U.S. equity markets closing on January 9, 2025 to observe and honor the passing of former President Jimmy Carter. Each record holder of common stock on Wednesday, January 8, 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鈥檚 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 5.7 million shares to 11.4 million shares. The par value per share of the Company鈥檚 common stock will be reduced from
About Orange County Bancorp, Inc
Orange County Bancorp, Inc. is the parent company of Orange Bank & Trust Company and Hudson Valley Investment Advisors, Inc. Orange Bank & Trust Company is an independent bank that began with the vision of 14 founders over 125 years ago. It has grown through innovation and an unwavering commitment to its community and business clientele to approximately
Forward-Looking Statements
Certain statements contained herein are 鈥渇orward-looking statements鈥� within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渂elieve,鈥� 鈥渆xpect,鈥� 鈥渆stimate,鈥� 鈥渁nticipate,鈥� 鈥渃ontinue,鈥� or similar terms or variations on those terms, or the negative of those terms. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, those related to the real estate and economic
environment, particularly in the market areas in which the Company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, inflation, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, increased levels of loan delinquencies, problem assets and foreclosures, credit risk management, asset-liability management, cybersecurity risks, geopolitical conflicts, public health issues, the financial and securities markets and the availability of and costs associated with sources of liquidity.
The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company wishes to advise readers that the factors listed above could affect the Company鈥檚 financial performance and could cause the Company鈥檚 actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake and specifically declines any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
For further information:
Michael Lesler
EVP & Chief Financial Officer
Phone: (845) 341-5111
FAQ
When is the record date for Orange County Bancorp's (OBT) stock split in 2025?
When will OBT's split-adjusted shares begin trading?
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