MIDDLETOWN, NY – Not many companies can claim a strong community presence for 125 years, but Orange Bank & Trust has done just that since 1892.
The bank celebrated its 125th anniversary on Friday with the naming of its headquarters on Dolson Avenue in Middletown in honor of the Morrison family that has been so instrumental in the longevity of the bank and the welfare of the residents and businesses in Orange County and beyond.
The Morrison family was involved with the financial stability of the bank following the crash of 1929. “My grandfather personally contributed to keeping the bank open during the Great Depression” commented William Morrison, “and from there uncles, cousins, and family members have been involved over the past 112 years”.
Originally, the bank focused on Orange County families and businesses, but now extends its support to Westchester, Dutchess, and Rockland counties through it’s 14 branches. Orange Bank & Trust has just over one billion dollars of assets.
“We are an independent bank, with no ties, and locally controlled”, said Lou Heimbach, who is the Chairman of the Board. “We’ve not only been around for 125 years, but we’ve been successful for all that time, helping to improve the economy for residents and helping businesses thrive.” That is a pretty significant accomplishment in longevity in a time where many banks are buying up other banks to stay alive or improve their bottom line.
“It’s a great honor to be the President and CEO of such a great institution”, said Michael Gilfeather. “We’ve known and felt the presence of the Morrison family since the very beginning. Their support of the bank is really the support of the entire community.”
“Our goal is to improve the economy in the area.”, added Heimbach.