Orange County Bancorp in Middletown, N.Y., raised $35.2 in net proceeds from its initial public offering.
The $1.9 billion-asset company said in a press release Monday that it sold nearly 1.2 million shares of common stock at $33.50 a share. About 150,000 shares were sold as part of the underwriters’ overallotment option.
The company said in a prospectus that net proceeds could be used to support growth in areas such as lending and wealth management and to financial strategic acquisitions, among other things.
Piper Sandler and Stephens were the joint book-running managers.