Hudson Valley Holding to continue FDIC program
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- December
- 31
Hudson Valley Holding Corp., the Yonkers-based parent company of Hudson Valley Bank and New York National Bank, said that it will continue to participate in a federal program designed to strengthen public confidence in the financial system.
Under the Temporary Liquidity Guarantee Program, the government said that it will provide full insurance coverage of non-interest bearing deposit accounts, regardless of dollar amount.
The program, which covered Hudson Valley and other institutions insured by the Federal Deposit Insurance Corp., was set to expire unless individual banks opted to continue their participation.“Although Hudson Valley is and has always been a safe, sound, and strong organization, we wanted to provide our customers with the most comprehensive deposit insurance protection offered by the U.S. government,” James J. Landy, president and chief executive officer, said in a written statement.
This entry was posted
on Wednesday, December 31st, 2008 at 3:18 pm by Jay Loomis.
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Category: Banking
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