Note 20 — Segment Information

The Company's reportable segments are determined by the Chief Financial Officer, who is the designated Chief Operating Decision Maker (“CODM”), based upon information provided about the Company's products and services offered, primarily distinguished between banking and wealth management services provided by the Bank's wealth management division. They are also distinguished by the level of information provided to the CODM, who uses such information to review performance of various components of the business. Financial performance of the Company's business segments is evaluated by the CODM through evaluation of revenue sources, significant expenses, and budget to actual results in assessing the performance of the Company's segments and in determining the allocation of resources. The CODM reviews revenue sources to evaluate product pricing and significant expense to assess performance of each segment to evaluate compensation of certain employees. Segment pretax profit or loss is used to assess the performance of the banking segment by monitoring the margin between interest revenue and interest expense. Segment pretax profit or loss is used to assess the performance of the Wealth Management Division by monitoring wealth management fee income and AUM. Loans, investments, and deposits primarily provide the revenues in the banking operation and wealth management fee income provide the revenues for the Wealth Management Division. Interest expense, provision for credit losses, salaries and benefits expense, occupancy costs, and technology expense provide the significant expenses in the banking segment, while salaries and benefits, occupancy, and technology costs are the significant expenses in the Wealth Management Division. All operations are domestic.

Management uses certain methodologies to allocate income and expense to the business segments. Certain expenses are allocated to segments based on proportionate use of services and related expenses. These include support unit expenses such as technology fees, administrative costs, operational expenses, and other charges associated with support functions. Taxes are allocated to each segment based on the effective rate for the period shown.

Banking

The Banking segment includes: commercial real estate, commercial real estate construction, commercial and industrial, multifamily, residential real estate, home equity, and consumer lending activities; cash management services; escrow management; deposit gathering; operation of ATMs; telephone and internet banking services; merchant credit card services and customer support and sales.

Wealth Management

The Wealth Management Division, which includes our trust department and OIA, consists of: investment management services provided for individual and institutional customers; personal trust services, including but not limited to, trustee, administrator, and custodian; as well as other planning and advisory services.

The following tables present the statements of income and total assets for the Company’s reportable segments for the years ended December 31, 2025 and 2024:


	At or for the twelve months ended December 31, 2025
	Banking		Wealth Management		Total Segments
Net interest income	$	104,056	$	—	$	104,056
Noninterest income		9,042		14,106		23,148
Provision for credit loss - investments		—		—		—
Provision for credit loss		(7,748)		—		(7,748)
Noninterest expenses
Salaries		(23,713)		(4,681)		(28,394)
Employee benefits		(8,622)		(1,000)		(9,622)
Occupancy expense		(4,510)		(618)		(5,128)
Professional fees		(5,565)		(626)		(6,191)
Directors' fees and expenses		(1,203)		(42)		(1,245)
Computer software expense		(7,105)		(708)		(7,813)
FDIC assessment		(1,320)		—		(1,320)
Advertising expenses		(1,891)		(82)		(1,973)
Advisor expenses related to trust income		—		(90)		(90)
Telephone expenses		(816)		(52)		(868)
Intangible amortization		(286)		—		(286)
Other		(3,945)		(1,025)		(4,970)
Total noninterest expenses		(58,976)		(8,924)		(67,900)
Income tax expense		(8,854)		(1,088)		(9,942)
Net income	$	37,520	$	4,094	$	41,614
Total assets	$	2,648,560	$	10,817	$	2,659,377


	At or for the twelve months ended December 31, 2024
	Banking		Wealth Management		Total Segments
Net interest income	$	91,766	$	—	$	91,766
Noninterest income		3,723		12,249		15,972
Provision for credit loss- investments		1,900		—		1,900
Provision for credit loss		(9,610)		—		(9,610)
Noninterest expenses
Salaries		(22,229)		(5,246)		(27,475)
Employee benefits		(7,934)		(1,004)		(8,938)
Occupancy expense		(4,194)		(596)		(4,790)
Professional fees		(5,465)		(466)		(5,931)
Directors' fees and expenses		(1,006)		(47)		(1,053)
Computer software expense		(5,459)		(493)		(5,952)
FDIC assessment		(1,308)		—		(1,308)
Advertising expenses		(1,464)		(111)		(1,575)
Advisor expenses related to trust income		—		(113)		(113)
Telephone expenses		(695)		(51)		(746)
Intangible amortization		(286)		—		(286)
Other		(6,031)		(1,012)		(7,043)
Total noninterest expenses		(56,071)		(9,139)		(65,210)
Income tax expense		(6,282)		(653)		(6,935)
Net income	$	25,426	$	2,457	$	27,883
Total assets	$	2,499,898		10,029	$	2,509,927

Historical Timeline

Fiscal Year	Filed
2025	Mar 16, 2026	Showing above
2024	Mar 17, 2025

2023	Mar 29, 2024

2022	Mar 24, 2023

2021	Mar 30, 2022

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Orange County Bancorp, Inc. /DE/ Segments Disclosure

Historical Timeline

About Segments Disclosures

Other Available Disclosures