Orange County Trust Changes Name Promises Further Growth in Region
Real Estate In-Depth | August 10, 2016
MIDDLETOWN—Orange County Trust Company announced recently it changed its name to Orange Bank & Trust Company. With the new name change and signage comes word from bank officials that the bank plans to continue to grow its operations in the region.
The name change supports the bank’s strategic plan to remain independent, position itself for future growth and expand its operations regionally with a focus on business banking. Bank customers will notice new signs and materials at all of the bank’s locations, while finding the same bankers dedicated to serving their needs through personal relationships.
Orange Bank & Trust marked the introduction of the new name at a recent ceremony at its Middletown headquarters on Dolson Avenue where CEO Michael Gilfeather and Board Chairman Louis Heimbach unveiled the new name and signage.
During a 2015 strategic research and branding initiative, focus groups revealed that, in neighboring counties, the name “Orange County Trust Company” sounded more like an investment house than a full service commercial bank, bank officials stated. The new name eliminates confusion about what Orange Bank & Trust provides to its customers by adding the word “Bank.” The bank’s new logo emphasizes “Orange” as a reminder of the county where the bank was founded and highlights the bright and positive future that the bank envisions for the region.
“Although our name and logo are changing, we are still the same community-focused bank continuing to deliver top-notch relationship based service to our customers in Orange, Dutchess, Westchester and Rockland counties” said Gilfeather. “Orange Bank & Trust is committed to growth by expanding geographically and by enhancing the products and services we offer. To that end, we have opened two new branches in Mamaroneck and Mount Pleasant, with more to come. In order to support this growth, we move into the future with one clear, consistent, name and message.”
The name change was approved by the Board of Directors on Jan. 22, 2016. In addition, the bank obtained a trademark on the new name.
Orange Bank & Trust now has an asset level of approximately $900 million. In recent years, Orange Bank and Trust has added branches, expanded into Rockland, Westchester and Dutchess counties and acquired Hudson Valley Investment Advisors to provide wealth management services.
According to its website, in addition to its locations in Orange County (Middletown 3), Montgomery, Chester, Vails Gate, Goshen and Newburgh, the bank also has branch operations in Fishkill, White Plains, New City, Mamaroneck and Mount Pleasant.
Photo Caption: Orange Bank & Trust CEO Michael Gilfeather addressed business leaders and public officials on July 29th at the bank’s headquarters on Dolson Avenue in Middletown.