lohud.com

Sponsored by:

Business in the Burbs

Movers, shakers and newsmakers

Archive for the 'Banking' Category

Tompkins draws down $21M to buy Sleepy Hollow Bancorp

May
13

Tompkins Financial Corp. used $21 million of a $25 million credit line with JPMorgan Chase Bank to finance its $30.2 million purchase of Sleepy Hollow Bancorp Inc., Tompkins disclosed in a regulatory filing today.

The deal, which merged Mahopac National Bank with Sleepy Hollow Bancorp, closed Friday.

The six Sleepy Hollow banks, in Pleasantville, Ossining, Yonkers and Sleepy Hollow, are now known as Mahopac National Bank’s Sleepy Hollow Division, said Tompkins, based in Ithaca.

The merger created a regional banking subsidiary with $750 million in assets and 15 branches in Westchester, Putnam and Dutchess counties, Tompkins said.

Posted by David Schepp on Tuesday, May 13th, 2008 at 4:10 pm | del.icio.us Digg
Print Print | Email Email | Post a Comment »

Tompkins gets approval for acquisition

April
23

Tompkins Financial Corp. of Ithaca said this morning it has gotten all the regulatory and shareholder approvals it needs for its purchase of Sleepy Hollow Bancorp Inc.

Tompkins, the parent company of Mahopac National Bank, announced last November it agreed to pay $30.2 million in cash for the parent of Sleepy Hollow Bank. The deal is expected to be completed May 7.

The five Sleepy Hollow Bank branches will be known as the Sleepy Hollow Division of Mahopac National Bank. Customer accounts will be transferred May 9, giving the combined Mahopac National Bank $750 million in assets, 14 branches and one limited service office in Westchester, Putnam and Dutchess counties.

Posted by Allan Drury on Wednesday, April 23rd, 2008 at 10:12 am | del.icio.us Digg
Print Print | Email Email | Post a Comment »

IBM buys Mass. software company

April
18

IBM Corp. acquired Diligent Technologies Corp., a Framingham, Mass., technology company, the Armonk-based computing giant said today.

Terms of the deal weren’t disclosed.

Diligent, which has operations in Tel Aviv, Israel, develops “de-duplication” software that helps organizations reduce the amount and cost of of physical storage needed in data centers. Diligent will be folded into Armonk-based IBM’s System Storage business unit, Big Blue said.

Separately, IBM said it signed a $2.8 billion agreement with Cetelem, a subsidiary of French banking giant BNP-Paribas, to upgrade Cetelem’s consumer financial services operations in Argentina.

Posted by David Schepp on Friday, April 18th, 2008 at 2:45 pm | del.icio.us Digg
Print Print | Email Email | Post a Comment »

Advertisement

Hudson Valley Bank to open first Brooklyn branch

April
17

Hudson Valley Bank plans to open a new branch in Brooklyn, the Yonkers-based financial-services company said today.

The planned office, at 16 Court Street, will focus on serving the needs of attorneys and nonprofit organizations, as well as other businesses and individuals, in downtown Brooklyn, bank President and Chief Executive Officer James J. Landy said.

The branch is expected to open in early summer.

Hudson Valley Bank has 26 branches in Westchester, Rockland, New York City and Stamford, Conn. It is a unit of Hudson Valley Holding Corp., which also owns New York National Bank, formerly NYNB Bank.

Posted by David Schepp on Thursday, April 17th, 2008 at 10:55 am | del.icio.us Digg
Print Print | Email Email | Post a Comment »

Starwood Hotels enters $375M loan pact

April
15

Starwood Hotels & Resorts Worldwide Inc. has entered into a $375 million loan agreement with various lenders as part of an amended credit agreement, the hotelier disclosed in a regulatory filing today.

Proceeds from the loan will be used to repay debt, to pay fees and expenses related to the repayment and for general corporate purposes, the White Plains-based company said.

Posted by David Schepp on Tuesday, April 15th, 2008 at 4:27 pm | del.icio.us Digg
Print Print | Email Email | Post a Comment »

Yonkers banker opens new branch in Manhattan

April
14

Hudson Valley Bank has opened a new branch on Manhattan’s West Side, it said today.

The office, at 112 W. 34th St., near Herald Square and Penn Station, joins three others the Yonkers-based financial-services company operates in Manhattan.

Hudson Valley Bank is a unit of Hudson Valley Holding Corp., which also owns NYNB Bank.

Posted by David Schepp on Monday, April 14th, 2008 at 4:50 pm | del.icio.us Digg
Print Print | Email Email | Post a Comment »

Advertisement
About this blog
Business in the Burbs is our online news blog about businesses based or operating in the Lower Hudson Valley. Visitors here will also find items of interest to consumers in the region. Most contributions are from business reporters and editors covering Westchester, Rockland and Putnam counties.

Enter your email address to get daily updates from Business in the Burbs sent to your inbox:

About the Authors

Categories

Other recent entries


Latest LoHud Business news


Links

Monthly Archives