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Orange National Bancorp, parent of Orange National...

Orange National Bancorp, parent of Orange National Bank in Orange, reported net income of $1.3 million for 1988, a 34% increase over $969,000 in earnings the previous year. Revenue rose 21% to $13.3 million last year from $11 million the previous year. For the fourth quarter, the company posted net income of $407,000, a 47% increase over $276,000 in earnings in the last quarter of 1987. Quarterly revenue rose 31% to $3.8 million last year from $2.9 million in the last quarter of 1987. The company’s assets were $150 million at the end of December, a 20% increase over $124.7 million in assets a year earlier. Total deposits rose 21% to $135.8 million at the end of the year from $112.6 million a year earlier, while total loans grew 9% to $93.1 million from $85.6 million.


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