Exhibit 99.1


FOR IMMEDIATE RELEASE

Hudson Valley Holding Corp.                          CONTACT
21 Scarsdale Road                                    Stephen R. Brown
Yonkers, NY 10707                                    Sr. EVP, CFO & Treasurer
                                                     (914) 771-3212 (Earnings)

                                                     Wendy Croker
                                                     VP, Shareholder Relations
                                                     (914) 771-3214 (Dividend)

                           HUDSON VALLEY HOLDING CORP.
                       REPORTS RECORD NINE MONTH EARNINGS
                           AND ANNOUNCES CASH DIVIDEND

         YONKERS, NY, October 26, 2004 ... James J. Landy, President and Chief
Executive Officer, Hudson Valley Holding Corp., announced earnings for the nine
month period ended September 30, 2004. Earnings for the nine month period were
$20.2 million, compared to $18.2 million for the same period in 2003. Diluted
earnings per share were $2.99 compared to $2.72 for the same period last year.
Net earnings from operations (which excludes after-tax net gains on sales of
securities in both periods) increased by $4.8 million, or 32.2% compared to the
same period last year. Mr. Landy emphasized that this significant growth in
earnings from operations was the result of strong loan demand and continued
deposit growth. In addition, Mr. Landy announced that as of September 30, 2004,
assets totaled $1.9 billion, deposits totaled $1.3 billion, and net loans
totaled $822 million.

         Further, William E. Griffin, Chairman of the Board, noted the continued
excellent performance of the Company and announced that the Company has declared
a cash dividend of $0.44 per share payable to all shareholders of record as of
the close of business November 5, 2004. The dividend will be sent to
shareholders on or about November 17, 2004.

         Hudson Valley Holding Corp., headquartered in Yonkers, NY, is the
parent company of Hudson Valley Bank, Westchester's largest independently owned
Bank with 19 branches located in the Bronx, Manhattan and Westchester and loan
production offices in Dutchess County and Queens. The Bank specializes in
providing a full range of financial services to small businesses, professional
services firms, not-for-profit organizations and individuals; and provides
investment management services through a subsidiary, A. R. Schmeidler & Co, Inc.
The Company's stock is traded under the ticker symbol "HUVL" on the OTC Bulletin
Board. Additional information on the Bank can be obtained on our web-site at
www.hudsonvalleybank.com.

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