Hudson Valley Holding said TARP not needed
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- January
- 15
Hudson Valley Holding Corp. of Yonkers said that it does not need to use the asset protection services that the U.S. government is providing to banks in the wake of the financial crisis. The assistance effort, the Treasury Department’s Capital Purchase Program, is widely known as TARP. Hudson Valley Holding Corp. is the parent company of two local banks, Hudson Valley Bank and New York National Bank.
“Hudson Valley is extremely well capitalized,” James J. Landy, president and chief executive officer, said in a written statement. “We exceed all current regulatory capital requirements to be considered in the highest category, ’well-capitalized,’ and we remain financially strong and profitable despite difficult economic times.”
This entry was posted
on Thursday, January 15th, 2009 at 3:18 pm by Jay Loomis.
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Category: Banking
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