Mission & History
Mission
The mission of Hudson Valley Bank is to remain a financially strong, independent, local bank serving customers in select markets in ways that exceed their expectations, thereby creating superior shareholder returns and exceptional employee career opportunities
History
Hudson Valley Bank is the largest independently-owned commercial bank based in Westchester County, New York. The Bank was founded in 1972 by a group of ten forward-thinking business and professional men, who had strong ties to Yonkers and envisioned a truly local bank to serve the financial needs of the community.
Hudson Valley Bank first opened its doors in a trailer, which served as its headquarters while a more permanent home was being built on East Grassy Sprain Road and Tuckahoe Road in Yonkers. From an initial capitalization of $2.5 million, Hudson Valley Bank had over $10 million in assets at year-end, a sign of its very bright future. From that humble beginning, Hudson Valley Bank has grown into a major financial institution with clients ranging from individuals to municipalities and law firms to construction companies and real estate developers to health care and not-for-profit organizations throughout the metropolitan area.
Today, Hudson Valley Bank has more than $2.7 billion in assets and branches throughout the metropolitan area; a subsidiary investment management firm, A. R. Schmeidler & Co., Inc.; a charitable foundation, the Hudson Valley National Foundation; and a full range of products and services tailored to the needs of the communities it serves.
From deposits and loans to investment and leasing, Hudson Valley Bank offers comprehensive services to help individuals and businesses achieve their financial goals. Hudson Valley Bank offers many highly customized business banking products, such as its innovative Attorney Trust Account that helps lawyers manage their clients’ trust and escrow accounts and comply with New York State regulations, and customized lock boxes and tenant security accounts for property managers. In addition to providing traditional delivery systems through its Branch network, Hudson Valley Bank offers deposit pick-up services, Online Banking, Easy Access Telephone Banking and ATMs.
Hudson Valley Bank is recognized throughout the industry for its financial strength and quality. But what truly distinguishes the Bank is its personalized service and long-term relationships with its customers. Hudson Valley Bank strives to be the best and remains committed, not only to remaining independent, but to serving the individual banking needs of our customers and the communities where they live and work.
Since its founding in 1981, the Hudson Valley National Foundation has contributed over $5.5 million in funds raised at its annual charitable golf and tennis outings to hundreds of local not-for-profit organizations.
Hudson Valley Bank owes its success to the dedication and support of all the members of the Hudson Valley “family” past and present -- its Founders, Staff, Executive Management, Board of Directors, Business Development Board and Shareholders. Most importantly, Hudson Valley Bank would not be what it is today without the continued trust and loyalty of its customers and many friends. Following this time-tested philosophy, Hudson Valley Bankers will continue to provide the courteous and personal attention that is a vital component of the Bank’s unique and successful style of “Relationship Banking.”
Despite its significant growth over the past 39 years, Hudson Valley Bank has remained true to its original mission and takes great pride in helping companies grow and people build their futures.
Key dates in Hudson Valley Bank’s history:
| 1972 - | First Branch opened in trailer on East Grassy Sprain Road, Yonkers |
| 1973 - | Bank moved to modern five-story office building at 35 East Grassy Sprain Road |
| 1974 - | Rockledge Branch opened in Yonkers |
| 1976 - | Getty Square Branch opened in Yonkers |
| 1977 - | Lake Avenue Branch opened in Yonkers |
| 1981 - | McLean Avenue Branch opened in Yonkers |
| - | Hudson Valley National Foundation established to support local charities |
| 1983 - | Hudson Valley Holding Corp. formed |
| - | Elmsford Branch opened -- first Branch outside of Yonkers |
| 1985 - | Mount Kisco Branch opened |
| 1986 - | Mortgage Banking subsidiary formed (ended in 1995 after nine years of operation when its functions were merged into the Bank’s direct operations) |
| - | Crain’s New York Business ranks Hudson Valley the 15th most profitable among 127 banks in the New York area |
| 1987 - | First White Plains Branch opened on Central Avenue |
| 1988 - | Thornwood Branch opened |
| 1990 - | First bank to participate in the Reverse Mortgage Program, in conjunction with the Westchester County Office for the Aging, to allow seniors to borrow money on the equity in their home |
| - | Peekskill Branch opened |
| - | Bank installs automated teller machines |
| 1991 - | Getty Square Branch moves to larger facility at 61 South Broadway, Yonkers |
| 1993 - | Headquarters relocated from East Grassy Sprain Road to 21 Scarsdale Road, Yonkers |
| - | Mount Kisco Office relocated to larger, more visible facility with a drive-in window |
| - | Mount Vernon Branch opened |
| 1995 - | Port Chester Branch opened |
| 1996 - | Bank named one of Top 25 Performing Community Banks in the nation by KPMG |
| 1998 - | New Rochelle Business Center opened (desks replace traditional teller stations, and the Center offers a conference room and sitting area, where clients can watch stock market reports and check their accounts online) |
| 1999 - | Tremont Avenue Business Center opened |
| - | Awarded Preferred Lending Provider status (PLP) from the U.S. Department of Small Business Administration (SBA) |
| 2000 - | Hudson Valley Leasing Corp. formed |
| - | Bank web site, www.hudsonvalleybank.com, established |
| 2001 - | Internet banking product introduced |
| 2002 - | Second Bronx Branch opened at Allerton Avenue |
| - | First Manhattan Branch opened in the Lincoln Building |
| - | Branch opened in Headquarters building at 21 Scarsdale Road |
| 2003 - | Full service Branch opened on Church Street in downtown White Plains |
| - | Loan Production Offices opened in Fishkill and Queens (since discontinued) |
| 2004 - | Second full service Manhattan Branch opened in the Woolworth Building in lower Manhattan |
| - | Bank acquires A. R. Schmeidler & Co., Inc., a prestigious New York City-based investment management firm |
| - | Bank announces agreement to purchase New York National Bank, a Bronx-based community bank, subject to regulatory approval |
| 2005 - | First Queens Branch opened in Rego Park |
| - | Bank named one of Top 20 industry earnings performers for banks with $500 million or more in assets by the Independent Community Bankers of America (ICBA) |
| - | Third Manhattan Branch opens at 350 Park Avenue |
| - | Bank reaches $2 billion in assets |
| - | Bank records $1 billion in loans |
| 2006 - | Acquisition of New York National Bank finalized. Now operates as NYNB Bank, a subsidiary of Hudson Valley Holding Corp. |
| - | NYNB’s system integration with HVB’s allows customers of both banks to use any of HVB’s 21 branches or NYNB’s 5 branches |
| - | A. R. Schmeidler’s management assets reach $900 million |
| 2007 - | First Rockland County branch opened in New City. |
| - | Hudson Valley Bank converted to a national charter with approval from the Office of the Comptroller of the Currency (OCC) |
| - | As part of conversion, restored NYNB Bank’s name to New York National Bank |
| - | Opened Mamaroneck Branch |
| - | Opened first branch in Connecticut in Stamford |
| - | Introduced customer remote deposit service and branch remote capture |
| 2008 - | Fourth Manhattan branch opened on West side at 34th St. |
| - | Rego Park Branch closed in favor of new convenient street level location in Flushing |
| - | New Flushing Branch opens at 162-05 Crocheron Avenue |
| - | Downtown Brooklyn Branch opens on Court Street |
| - | Second Connecticut branch opens in Westport at 420 Post Road West |
| - | Greenwich, CT branch opens at 500 West Putnam Avenue |
| - | Latest CT branch opens in Fairfield, CT at 2000 Post Road |
| 2009 - | New Lockbox TS service launched |
| - | Eastchester Branch opens at 111 Brook Street |
| - | Fifth CT branch opens in Milford at 54 Broad Street |
| - | Business and Personal online banking upgrade |
| - | Sixth Connecticut branch opens at 2505 Main Street, Stratford |
| - | Institutes Connecticut Business Development Board |
| - | Company lists stock on NASDAQ Global Select Market |
| - | Company closes on underwritten common stock offering with net proceeds of approximately $93.3 million |
| 2010 - | New York National Bank merged into Hudson Valley Bank. Now operates as a Division of Hudson Valley Bank. |
| - | Approved for branch at Hutch Metro Center in the Bronx |
| - | Hutch Metro Branch opens in September |
| 2011 - | Bank signs agreement with Fiserv for new core processing system |
| - | Flushing Branch sold to BankAsiana |
| - | Company moves common stock to NYSE listing under new ticker symbol "HVB" |
| - | e-Statements launched |
| - | Bank approved to open branch in Suffern |
| 2012 - | Suffern Branch opens |
