Orange County Bancorp Announces Retirement Of CFO Robert Peacock In 2023, Says Senior Vice President, Chief Accounting Officer Michael Lesler To Succeed Peacock

Orange County Bancorp, Inc. (the "Company") (NASDAQ:OBT), parent company of Orange Bank & Trust Co. (the "Bank") announced today the retirement of Robert Peacock, Senior Executive Vice President and Chief Financial Officer, effective March 15, 2023. He will be succeeded by Michael Lesler, who currently serves as Senior Vice President and Chief Accounting Officer and Controller.

"Rob has been a valued member of our executive team since he joined us in 2018 and his expertise and stewardship have been important to the bank's strategic direction and growth," said Michael Gilfeather, President and CEO. "We are tremendously grateful for his tireless commitment, sound judgement and steadfast leadership. I know I speak on behalf of everyone here at the Bank when I say Rob will be greatly missed."

"Fortunately, the impact of this transition will be softened by the Bank's leadership succession plan, which over a year ago identified the need to supplement senior management with someone with significant financial experience, knowledge, and leadership potential. This led to Michael joining our team, with the presumption he could eventually assume the CFO role," Gilfeather added. "Since then, Michael's demonstrated financial management experience, as well as strategic and operational savvy, have played a critical role in developing and executing our strategy. This and his deep understanding of our operating environment, industry, and organization made the decision to make Michael our next CFO an easy one. I congratulate him on his new role and responsibilities."

Lesler joined the Bank in 2021 with over 20 years of banking industry experience, including extensive executive leadership roles in financial and operational management. Prior to joining, Lesler served as Executive Vice President and Chief Operating Officer of BCB Bank and, prior to that, held the same role at Clifton Savings Bank. He also held the positions of Chief Financial Officer, Chief Operating Officer, and President at Bank of New Jersey, where he served for 11 years.

"Building on the disciplined momentum generated by Rob and Michael represents an incredibly exciting opportunity," said Lesler. "I couldn't be more excited to continue my efforts and collaboration with this great team as CFO."