Orange County Bancorp, Inc S-3, filed Dec 1, 2022

Orange County Bancorp, Inc. (OBT)

S-3 2022-12-01

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Added on October 22, 2026

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	Large accelerated filer ☐			Accelerated filer ☐
	Non-accelerated filer ☒			Smaller reporting company ☒
				Emerging growth company ☒

	Page
IMPORTANT NOTICE ABOUT INFORMATION PRESENTED IN THIS PROSPECTUS AND THE ACCOMPANYING PROSPECTUS SUPPLEMENT		i
IMPLICATIONS OF BEING AN EMERGING GROWTH COMPANY		i
ABOUT THIS PROSPECTUS		1
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS		1
WHERE YOU CAN FIND MORE INFORMATION		3
RISK FACTORS		4
OUR COMPANY		4
USE OF PROCEEDS		5
DESCRIPTION OF THE SECURITIES		6
Description of Debt Securities		6
Description of Common Stock		14
Description of Warrants		15
Description of Purchase Contracts		16
Description of Units		17
Description of Subscription Rights		17
PLAN OF DISTRIBUTION		19
LEGAL OPINION		20
EXPERTS		20

Securities and Exchange Commission registration fee	$	11,020
Listing fees		*
Accounting fees and expenses		*
Legal fees and expenses		*
Blue Sky expenses		*
Printing		*
Trustee’s expenses		*
Transfer agent fees and expenses		*
Miscellaneous expenses		*
Total	$	*

	1.1			Form of Underwriting Agreement for any Offering of Securities*
	3.1			Certificate of Incorporation of Orange County Bancorp, Inc. (incorporated by reference to Exhibit 3.1 to the Registration Statement on Form S-1 of Orange County Bancorp, Inc. (File No. 333-257781), initially filed with the Securities and Exchange Commission on July 9, 2021)
	3.2			Bylaws of Orange County Bancorp, Inc. (incorporated by reference to Exhibit 3.2 to the Registration Statement on Form S-1 of Orange County Bancorp, Inc. (File No. 333-257781), initially filed with the Securities and Exchange Commission on July 9, 2021)
	4.1			Form of Common Stock Certificate of Orange County Bancorp, Inc. (incorporated by reference to Exhibit 4.1 to the Registration Statement on Form S-1 of Orange County Bancorp, Inc. (File No. 333-257781), initially filed with the Securities and Exchange Commission on July 9, 2021)
	4.2			Form of 4.25% Fixed-to-Floating Rate Subordinated Note due 2030 of Orange County Bancorp, Inc. (incorporated by reference to Exhibit 4.2 to the Registration Statement on Form S-1 of Orange County Bancorp, Inc. (File No. 333-257781), initially filed with the Securities and Exchange Commission on July 9, 2021)
	4.4			Form of Indenture for Senior Debt Securities
	4.5			Form of Note for Senior Debt Securities*
	4.6			Form of Indenture for Subordinated Debt Securities
	4.7			Form of Note for Subordinated Debt Securities*
	4.10			Form of Warrant Agreement (including Form of Warrant Certificate)*
	4.11			Form of Purchase Contract Agreement*
	4.12			Form of Unit Agreement*
	4.13			Form of Subscription Rights Agreement (including form of rights certificate)*
	5.1			Opinion of Luse Gorman, PC
	8.1			Opinion of Counsel as to Certain Federal Income Tax Matters*
	23.1			Consent of Crowe LLP
	23.2			Consent of Luse Gorman, PC (included in Exhibit 5.1)
	24.1			Power of Attorney (contained on signature page of this filing)
	25.1			Form T-1 Statement of Eligibility of the trustee under the Indenture for Senior Debt Securities**
	25.2			Form T-1 Statement of Eligibility of the trustee under the Indenture for Subordinated Debt Securities**
	107			Filing Fee Table

Signatures	Title	Date
/s/ Michael J. Gilfeather Michael J. Gilfeather	President, Chief Executive Officer and Director (Principal Executive Officer)	December 1, 2022
/s/ Robert L. Peacock Robert L. Peacock	Senior Executive Vice President and Chief Financial Officer (Principal Financial Officer)	December 1, 2022
/s/ Michael Lesler Michael Lesler	Senior Vice President, Controller and Chief Accounting Officer (Principal Accounting Officer)	December 1, 2022
/s/ Jonathan F. Rouis Jonathan F. Rouis	Chairman of the Board	December 1, 2022
/s/ Louis Heimbach Louis Heimbach	Director	December 1, 2022
/s/ Gregory F. Holcombe Gregory F. Holcombe	Director	December 1, 2022
/s/ Kevin J. Keane Kevin J. Keane	Director	December 1, 2022

SECTION OF TRUST INDENTURE ACT		SECTION OF INDENTURE
310(a)(1) and (2)		7.09
310(a)(3) and (4)		Not applicable
310(a)(5)		7.09
310(b)		7.08 and 7.10
311(a) and (b)		7.13
312(a)		5.01 and 5.02(a)
312(b) and (c)		5.02(b) and (c)
313(a)		5.04(a)
313(b)(1)		Not applicable
313(b)(2)		5.04(b)
313(c)		5.04(c)
313(d)		5.04(d)
314(a)		5.03
314(b)		Not applicable
314(c)(1) and (2)		14.04
314(c)(3)		Not applicable
314(d)		Not applicable
314(e)		15.05
314(f)		Not applicable
315(a), (c) and (d)		7.01
315(b)		7.14
315(e)		6.14
316(a)(1)		6.12
316(a)(2)		Omitted
316(a) last sentence		8.04
316(b)		6.08
316(c)		8.06
317(a)		6.03 and 6.04
317(b)		4.03(a)
318(a)		15.07

		Page(s)
ARTICLE 1 DEFINITIONS		1

SECTION 1.01.	Definitions	1

ARTICLE 2 ISSUE, EXECUTION, REGISTRATION AND EXCHANGE OF SECURITIES		5

SECTION 2.01.	Amount Unlimited; Issuable in Series	5

SECTION 2.02.	Form of Trustee’s Certificate of Authentication	5

SECTION 2.03.	Form of Securities Generally; Establishment of Terms of Series	6

SECTION 2.04.	Securities in Global Form	8

SECTION 2.05.	Denominations; Record Date; Payment of Interest	9

SECTION 2.06.	Execution, Authentication, Delivery and Dating of Securities	9

SECTION 2.07.	Exchange and Registration of Transfer of Securities	11

SECTION 2.08.	Temporary Securities	12

SECTION 2.09.	Mutilated, Destroyed, Lost or Stolen Securities	12

SECTION 2.10.	Cancellation	13

SECTION 2.11.	Book-Entry Only System	13

ARTICLE 3 REDEMPTION OF SECURITIES		14

SECTION 3.01.	Redemption of Securities, Applicability of Section	14

SECTION 3.02.	Notice of Redemption, Selection of Securities	14

SECTION 3.03.	Payment of Securities Called for Redemption	15

SECTION 3.04.	Redemption Suspended During Event of Default	15

ARTICLE 4 PARTICULAR COVENANTS OF THE COMPANY		15

SECTION 4.01.	Payment of Principal, Premium and Interest	15

SECTION 4.02.	Offices for Notices and Payments	16

SECTION 4.03.	Provisions as to Paying Agent	16

SECTION 4.04.	Statement as to Compliance	17

SECTION 4.05.	Corporate Existence	17

SECTION 4.06.	Waiver of Covenants	17


ARTICLE 5 SECURITYHOLDER LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE		17

SECTION 5.01.	Securityholder Lists	17

SECTION 5.02.	Preservation and Disclosure of Lists	18

SECTION 5.03.	Reports by the Company	18

SECTION 5.04.	Reports by the Trustee	18

ARTICLE 6 REMEDIES		19

SECTION 6.01.	Events of Default; Acceleration of Maturity	19

SECTION 6.02.	Rescission and Annulment	20

SECTION 6.03.	Collection of Indebtedness and Suits for Enforcement by Trustee	20

SECTION 6.04.	Trustee May File Proofs of Claim	21

SECTION 6.05.	Trustee May Enforce Claims Without Possession of Securities	21

SECTION 6.06.	Application of Money Collected	21

SECTION 6.07.	Limitation on Suits	22

SECTION 6.08.	Unconditional Right of Securityholders to Receive Principal and Interest	22

SECTION 6.09.	Restoration of Rights and Remedies	22

SECTION 6.10.	Rights and Remedies Cumulative	23

SECTION 6.11.	Delay or Omission Not Waiver	23

SECTION 6.12.	Control by Securityholders	23

SECTION 6.13.	Waiver of Past Defaults	23

SECTION 6.14.	Undertaking for Costs	24

SECTION 6.15.	Waiver of Stay or Extension Laws	24

ARTICLE 7 CONCERNING THE TRUSTEE		24

SECTION 7.01.	Duties and Responsibilities of Trustee	24

SECTION 7.02.	Reliance on Documents, Opinions, etc.	25

SECTION 7.03.	No Responsibility for Recitals, etc.	26

SECTION 7.04.	Ownership of Securities	26

SECTION 7.05.	Moneys to be Held in Trust	26


SECTION 7.06.	Compensation and Expenses of Trustee	27

SECTION 7.07.	Officers’ Certificate or Opinion of Counsel as Evidence	27

SECTION 7.08.	Disqualifications; Conflicting Interest of Trustee	27

SECTION 7.09.	Eligibility of Trustee	27

SECTION 7.10.	Resignation or Removal of Trustee	28

SECTION 7.11.	Acceptance by Successor Trustee	28

SECTION 7.12.	Successor by Merger, etc.	29

SECTION 7.13.	Limitations on Rights of Trustee as Creditor	29

SECTION 7.14.	Notice of Default	29

SECTION 7.15.	Appointment of Authenticating Agent	30

ARTICLE 8 CONCERNING THE SECURITYHOLDERS		31

SECTION 8.01.	Action by Securityholders	31

SECTION 8.02.	Proof of Execution by Securityholders	31

SECTION 8.03.	Who Are Deemed Absolute Owners	32

SECTION 8.04.	Company-Owned Securities Disregarded	32

SECTION 8.05.	Revocation of Consents; Future Securityholders Bound	32

SECTION 8.06.	Record Date	32

ARTICLE 9 SECURITYHOLDERS’ MEETINGS		33

SECTION 9.01.	Purposes of Meeting	33

SECTION 9.02.	Call of Meetings by Trustee	33

SECTION 9.03.	Call of Meetings by Company or Securityholders	33

SECTION 9.04.	Qualifications for Voting	33

SECTION 9.05.	Regulations	34

SECTION 9.06.	Voting	34

ARTICLE 10 SUPPLEMENTAL INDENTURES		34

SECTION 10.01.	Supplemental Indentures without Consent of Securityholders	34

SECTION 10.02.	Supplemental Indentures with Consent of Holders	36


SECTION 10.03.	Compliance with Trust Indenture Act; Effect of Supplemental Indentures	37

SECTION 10.04.	Notation on Securities	37

ARTICLE 11 CONSOLIDATION, MERGER, SALE OR CONVEYANCE		37

SECTION 11.01.	Company May Consolidate, etc., on Certain Terms	37

SECTION 11.02.	Successor Corporation Substituted	37

SECTION 11.03.	Opinion of Counsel and Officers’ Certificate to be Given Trustee	38

ARTICLE 12 SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED MONEYS		38

SECTION 12.01.	Discharge of Indenture	38

SECTION 12.02.	Deposited Moneys to be Held in Trust by Trustee	38

SECTION 12.03.	Paying Agent to Repay Moneys Held	39

SECTION 12.04.	Return of Unclaimed Moneys	39

ARTICLE 13 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS		39

SECTION 13.01.	Indenture and Securities Solely Corporate Obligations	39

ARTICLE 14 DEFEASANCE AND COVENANT DEFEASANCE		39

SECTION 14.01.	Applicability of Article	39

SECTION 14.02.	Defeasance and Discharge	39

SECTION 14.03.	Covenant Defeasance	40

SECTION 14.04.	Conditions to Defeasance or Covenant Defeasance	40

SECTION 14.05.	Deposited Money and U.S. Government Obligations to be Held in Trust; Other Miscellaneous Provisions	41

ARTICLE 15 MISCELLANEOUS PROVISIONS		42

SECTION 15.01.	Benefits of Indenture Restricted to Parties and Securityholders	42

SECTION 15.02.	Provisions Binding on Company’s Successors	42

SECTION 15.03.	Addresses for Notices, etc., to Company and Trustee	42

SECTION 15.04.	Notice to Holders of Securities; Waiver	42

SECTION 15.05.	Evidence of Compliance with Conditions Precedent	43

SECTION 15.06.	Legal Holidays	43


SECTION 15.07.	Trust Indenture Act to Control	43

SECTION 15.08.	Execution in Counterparts	44

SECTION 15.09.	Governing Law; Waiver of Jury Trial	44

SECTION 15.10.	Severability	44

SECTION 15.11.	Interpretations	44

SECTION 15.12.	U.S.A. Patriot Act	45

ARTICLE 16 RANKING OF SECURITIES		45

SECTION 16.01.	Ranking	45

	[ ], as Trustee

	By:	[ ], as Authenticating Agent
	By:
	Authorized Signatory Date:

	ORANGE COUNTY BANCORP, INC.

	By:
		[ ]
		[ ]


	[ ], as Trustee

	By:
		[ ]
		[ ]

	ORANGE COUNTY BANCORP, INC.

	By:
		[ ]
		[ ]

	[  ], as Trustee

	By:
		[ ]
		[Vice President]