MIDDLETOWN, N.Y. – Orange Bank & Trust Company, a mainstay financial institution in New York’s Hudson Valley for more than 133 years, is doubling down on its commitment to the region’s construction and trade sectors with a strategic investment in specialized banking services tailored to the unique needs of contractors, developers, and skilled trades professionals.

In a significant move to support this deepened focus, the Bank has appointed Patrick Smith, Senior Vice President and seasoned industry banker, to lead the initiative. Smith, previously a Relationship Manager at the Bank’s Mount Vernon branch, brings a wealth of experience and insight into the financial intricacies of the construction industry. His appointment signals the Bank’s intent to further integrate itself into the economic framework of a region undergoing substantial development.

“The construction and trade industries are a key component within the communities in which we serve, and we are excited to build upon our expertise in these areas of our business,” said Michael Gilfeather, President and CEO of Orange Bank & Trust. “We recognize the importance contractors and developers place on relationships, including working with the same trusted sub-contractors—for example, architects, suppliers, plumbers, and electricians—and the Bank has become one of these trusted partners.”

This initiative expands upon Orange Bank & Trust’s longstanding relationship with the construction and trades community. Over the years, the Bank has steadily grown its construction lending portfolio and earned a reputation as a go-to financial institution for local and regional contractors. The Bank’s footprint within the Lower Westchester and Northern Bronx industrial corridor positions it ideally to meet growing demand in these key markets.

According to Gilfeather, leveraging advanced technology and relationship banking is key to maintaining this momentum. “Patrick’s deep understanding of the unique financial needs of these clients enables us to further enhance our offerings and deliver even greater value to them. In addition, the Bank is combining its unique AI abilities with internal and external data to identify connections between clients and prospects, while increasing efficiency and client satisfaction,” he said.

One long-standing client, Frank Petrillo, President of Petrillo Stone, praised the Bank’s tailored approach and depth of understanding of industry needs. “With a comprehensive suite of customized products, in-depth industry knowledge, and a significant client base of contractors, developers, and related businesses, Orange Bank is the ideal choice for local trades,” Petrillo said. “The Bank’s high-touch, personalized service model has been instrumental in building strong, lasting relationships with its contractor clientele.”

Patrick Smith is expected to drive growth in the Bank’s construction portfolio by continuing to strengthen existing relationships while bringing new clients into the fold. “Patrick Smith, SVP of Orange Bank & Trust Company, will spearhead the Bank’s new dedicated focus on construction and trade clients,” the Bank said in a release.

Orange Bank & Trust’s new initiative comes at a time when the construction industry faces both challenges and opportunities, with labor shortages, rising costs, and complex supply chains balanced by the strong demand for housing, infrastructure, and commercial development.

The Bank’s efforts underscore its role as a stable, knowledgeable financial partner. By tailoring lending and banking products to the industry, offering personalized service, and investing in dedicated leadership, Orange Bank & Trust aims to be a catalyst for continued growth in construction and trades across the Hudson Valley.
With more than $2.5 billion in assets, Orange Bank & Trust is the Hudson Valley’s premier commercial bank, offering services in commercial lending, business banking, payment processing, and wealth management. The Bank has been instrumental in supporting community development, job creation, and investment in regional infrastructure, and it continues to be recognized as one of New York’s best places to work.

Originally reported by News Channel Nebraska.