Superintendent of Financial Services Linda A. Lacewell today announced that the Department of Financial Services (DFS) has approved the application of Orange Bank & Trust Company to open and operate two new branch office locations in the Borough of the Bronx, and Nanuet, Town of Clarkstown in Rockland County. The anticipated opening date of the Bronx branch will be in October 2020; and the anticipated opening date of the Nanuet branch will be in January 2021.

“DFS is committed to assisting New York chartered banking institutions to expand their services throughout New York,” said Superintendent Lacewell. “Today’s approval helps this important mission to ensure our communities have access to much needed credit and other vital banking services.”

“Orange Bank & Trust is a relationship based Bank focused on small business. We have operated in each market from nearby branches and now we are excited that we have received approval from the Department of Financial Services and look forward to serving the banking needs of the residents in the Bronx and Nanuet areas,” said Michael Gilfeather, President and Chief Executive Officer of Orange Bank & Trust Company.

With the addition of these two new office branches, Orange Bank & Trust Company has DFS authorization to operate 15 branch offices in New York. The bank is headquartered in Middletown, New York, and has total assets of $1.3 billion as of March 31, 2020.

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