SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 14, 2007
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Hudson Valley Holding Corp.
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(Exact Name of Registrant as specified in charter)
New York 030525 13-3148745
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(State or other jurisdic- (Commission (IRS Employer
tion of incorporation) File Number) Identification No.)
21 Scarsdale Road, Yonkers New York 10707
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (914) 961-6100
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Not applicable
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(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a.-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 4.01. CHANGES IN THE REGISTRANT'S CERTIFYING ACCOUNTANT.
The Audit Committee of the Board of Directors of Hudson Valley Holding Corp.
(The "Registrant") has completed a process to consider the selection of the
Registrant's independent registered public accounting firm for the year ending
December 31 2007. This process included consideration of audit firms in addition
to Deloitte & Touche LLP ("D&T"), which is the firm the Audit Committee engaged
to act as the Registrant's independent registered accounting firm for 2006.
(a) Outgoing independent registered public accounting firm:
(i) On November 14, 2007, the Audit Committee of the Board of
Directors of the Registrant dismissed D&T as the Registrant's
independent registered public accounting firm.
(ii) The reports of D&T on the financial statements as of and for
the years ended December 31, 2006 and 2005 contained no
adverse opinion or disclaimer of opinion and were not
qualified or modified as to uncertainty, audit scope or
accounting principles. The report of D&T on the Registrant's
financial statements as of and for the year ended
December 31, 2006 included an explanatory paragraph regarding
the Registrant's change in its method of accounting for its
defined benefit pension plans adopted by the Registrant on
December 31, 2006.
(iii) During the years ended December 31, 2005 and 2006 and through
November 14, 2007, there have been no disagreements with D&T
on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure, which
disagreements, if not resolved to the satisfaction of D&T,
would have caused them to make reference thereto in their
reports on the financial statements for such years.
(iv) During the years ended December 31, 2005 and 2006, and through
November 14, 2007, there were no reportable events within the
meaning of item 304(a)(1)(v) of Regulation S-K.
(v) The Registrant has provided D&T with a copy of the above
statements and requested that D&T furnish the Registrant with
a letter stating whether or not D&T agrees with such
statements. A copy of this letter, dated November 20, 2007, is
filed as Exhibit 16.1 to this Form 8-K.
(b) Incoming independent registered accounting firm:
(i) On November 14, 2007, the Audit Committee of the Board of
Directors of the Registrant engaged Crowe Chizek and Company
LLC ("Crowe") to serve as the Registrant's independent
registered public accounting firm as of and for the year ended
December 31, 2007.
(ii) During the years ended December 31, 2005 and 2006, and through
November 14, 2007, the Registrant did not consult with Crowe
regarding any of the matters or events set forth in Item
304(a)(2)(i) or (ii) of Regulation S-K.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
Exhibit No. Description
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16.1 Letter from Deloitte & Touche LLP dated November 20, 2007.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
HUDSON VALLEY HOLDING CORP.
By: /s/ Stephen R. Brown
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Senior Executive Vice President,
Chief Financial Officer and
Treasurer
November 20, 2007