EXHIBIT 99.1
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FOR IMMEDIATE RELEASE
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HUDSON VALLEY HOLDING CORP. CONTACT: WENDY CROKER
21 SCARSDALE ROAD FIRST VP, SHAREHOLDER RELATIONS
YONKERS, NY 10707 (914) 771-3214
HUDSON VALLEY HOLDING CORP.
ANNOUNCES STOCK REPURCHASE PROGRAM
Yonkers, N.Y., February 26, 2008 -- William E. Griffin, Chairman of the
Board of Hudson Valley Holding Corp., announced the approval by the Board of
Directors of a program, effective February 27, 2008, to repurchase up to 250,000
shares of its common stock at a price of $52.75 per share. This offer expires
May 27, 2008.
Griffin, noting the continued strong financial performance of the Company,
said the Board increased the per share repurchase price by $0.75 to $52.75.
Hudson Valley Holding Corp. (HUVL), headquartered in Yonkers, NY, is the parent
company of two independently owned local banks, Hudson Valley Bank (HVB) and New
York National Bank (NYNB). Hudson Valley Bank is a Westchester based bank with
more than $2 billion in assets, serving the metropolitan area with 25 branches
located in Westchester, Rockland, the Bronx, Manhattan and Queens, NY, and in
Fairfield County, CT. HVB specializes in providing a full range of financial
services to businesses, professional services firms, not-for-profit
organizations and individuals; and provides investment management services
through a subsidiary, A. R. Schmeidler & Co., Inc. NYNB is a Bronx based bank
with approximately $140 million in assets serving the local communities of the
South Bronx, Upper Manhattan and Roosevelt Island with five branches. NYNB
provides a full range of financial services to individuals, small businesses and
not-for-profit organizations in its local markets. Hudson Valley Holding Corp.'s
stock is traded under the ticker symbol "HUVL" on the OTC Bulletin Board.
Additional information on Hudson Valley Bank and New York National Bank can be
obtained on their respective web-sites at www.hudsonvalleybank.com and
www.nynb.com.
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This press release contains forward-looking statements made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995. These
statements refer to future events or our future financial performance. We have
attempted to identify forward-looking statements by terminology including
"anticipates," "believes," "can," "continue," "could," "estimates," "expects,"
"intends," "may," "plans," "potential," "predicts," "should" or "will" or the
negative of these terms or other comparable terminology. These statements are
only predictions and involve known and unknown risks, uncertainties and other
factors that may cause our or the banking industry's actual results, level of
activity, performance or achievements to be materially different from any future
results, level of activity, performance or achievements expressed or implied by
these forward-looking statements. Factors that may cause actual results to
differ materially from those contemplated by such forward- looking statements
include, but are not limited to, material adverse changes in the Company's
operations or earnings, or a decline in the economy in the New York Metropolitan
area. Although we believe that the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future results, levels of
activity, performance or achievements.