Hudson Valley Holding Corp. operates as the holding company for Hudson Valley Bank, N.A. that provides financial services. The company provides banking and related services to businesses, professionals, municipalities, not-for-profit organizations, and individuals within its market area. The company has 18 branch offices in Westchester County, New York; 5 in Manhattan, New York; 4 in Bronx County, New York; 2 in Rockland County, New York; 1 in Kings County, New York; 5 in Fairfield County, Connecticut; and 1 in New Haven County, Connecticut. Lending The company is engaged in various lending activities, which are primarily categorized as real estate, commercial and industrial, individual, and lease financing. Real Estate Loans: Real estate loans primarily include loans collateralized by interim and permanent commercial mortgages, construction mortgages, and residential mortgages, including home equity loans. Commercial real estate loans are offered by the company on a fixed or variable rate basis with approximately 10 year terms. Amortizations range approximately 25 years. The company also originates 15 year fixed rate self-amortizing commercial mortgages. Construction loans are short-term loans (approximately 18 months) secured by land for both residential and commercial development. The company offers various home equity line of credit products. These products include credit lines on primary residences, vacation homes, and 1-4 unit residential investment properties. Commercial and Industrial Loans: The company’s commercial and industrial loan portfolio consists primarily of commercial business loans and lines of credit to businesses and professionals. These loans are made to finance the purchase of inventory, new or used equipment, or other short or long-term working capital purposes. These loans are secured by corporate assets, with real estate as secondary collateral, and are also offered on an unsecured basis. These loans have variable rates of interest. Loans to Individuals and Leasing: The company offers installment loans and reserve lines of credit to individuals. The company also originates lease financing transactions. These transactions are primarily conducted with businesses, professionals, and not-for-profit organizations and provide financing primarily for office equipment, telephone systems, computer systems, energy saving improvements, and other special use equipment. Securities Portfolio As of December 31, 2012, the company’s investment portfolio included U.S. Treasury and government agencies; mortgage-backed securities – residential; obligations of states and political subdivisions; other debt securities; and mutual funds and other equity securities. Deposits The company offers deposit products ranging in maturity from demand-type accounts to certificates of deposit with maturities of approximately five years. It solicits certain types of deposits from outside its market area, primarily from certain professionals and government agencies. The company offers deposit pick up services for certain business customers. It has 26 automated teller machines at various locations. Portfolio Management Services The company provides investment management services to its customers and others through a subsidiary, A. R. Schmeidler & Co., Inc. Other Services The company also offers a software application designed to meet the specific administrative needs of bankruptcy trustees through a marketing and licensing agreement with the application vendor. Strategy The company’s strategy is to operate community-oriented banking institutions dedicated to providing personalized service to customers and focusing on products and services for selected segments of the market. Supervision and Regulation The company is registered as a bank holding company under the Bank Holding Company Act of 1956. As a bank holding company, the company is regulated by and subject to the supervision of the Board of Governors of the Federal Reserve System (FRB) and is required to file with the FRB an annual report and such other information as might be required. The bank is subject to the supervision of, and to regular examination by, the Office of the Comptroller of the Currency. The bank’s deposits are insured up to applicable limits by the Deposit Insurance Fund of the Federal Deposit Insurance Corporation (FDIC). The bank’s authority to extend credit to its directors, executive officers and 10 percent stockholders, as well as to entities controlled by such persons, is governed by the requirements of the National Bank Act, Sarbanes-Oxley Act of 2002, and Regulation O of the FRB thereunder. Under the Community Reinvestment Act, as implemented by Interagency Appraisal and Evaluation guidelines, the bank has a continuing and affirmative obligation consistent with its safe and sound operation to help meet the credit needs of the company’s entire community, including low and moderate income neighborhoods. A.R. Schmeidler & Co., Inc. is a money manager registered as an investment adviser under the federal Investment Advisers Act of 1940. History Hudson Valley Holding Corp. was founded in 1972.
hudson valley holding corp
(HVB:New York Consolidated)
21 Scarsdale Road
Yonkers, NY 10707
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To contact HUDSON VALLEY HOLDING CORP, please visit www.hudsonvalleybank.com. Company data is provided by Capital IQ. Please use this form to report any data issues.