Hudson Valley Holding Prices 3.6 Million Common Shares
October 28, 2009 (FinancialWire) — Hudson Valley Holding Corp. (NASDAQ: HUVL) said it has priced a public offering of 3.6 million shares of common stock at $25.00 per share for total gross proceeds of $90 million. Fox-Pitt Kelton Cochran Caronia Waller and Raymond James & Associates are serving as joint bookrunning managers.
The company said it expects to close the sale of the common shares on October 30. Hudson has granted the underwriters a 30-day option to purchase up to an additional 540,000 shares of common stock to cover over-allotments.
Yonkers, New York-based Hudson Valley Holding is the parent company of two independently owned local banks, Hudson Valley Bank and New York National Bank. Hudson Valley Bank is a Westchester-based bank with 33 branches located in Westchester, Rockland, the Bronx, Manhattan, Queens and Brooklyn in New York and Fairfield County and New Haven County, in Connecticut.
NYNB is a Bronx-based bank serving the local communities of the Bronx and Upper Manhattan with three branches.
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