Hudson Valley Holding Corp. Names Scott J. Skorobohaty Chief Banking Officer

YONKERS, N.Y., July 2, 2014 /PRNewswire/ -- Hudson Valley Holding Corp. (NYSE: HVB) named Scott J. Skorobohaty to serve as Executive Vice President, Chief Banking Officer of the commercial bank serving small- and mid-sized businesses, professional services firms, not-for-profit organizations and individuals in metropolitan New York.

"Over his nearly 20 year career in banking and real estate, Scott has developed particular expertise in driving business development, creating and expanding product offerings, strengthening existing relationships and recruiting and managing teams of bankers," stated President and Chief Executive Officer, Stephen R. Brown.  "This proficiency will make him a valuable addition to our bank's Executive Management team as we continue to strengthen our sales efforts and position our company for future expansion and diversification in growing loans and deposits."

Before joining Hudson Valley, Skorobohaty served as a Principal of The Vortex Group LLC, a commercial real estate company specializing in tenant representation in Metro New York.  In addition, Scott's prior extensive banking experience included being an initial investor and Executive Vice President, Head of Private Banking with BankUnited, N.A. and various business development roles with Capital One and North Fork Bank where, in each institution, he led development of sales strategies and recruited business development teams resulting in significant growth of the bank's balance sheet.

"We are excited to have Scott join our team.  Scott will focus on growing our business across all product lines where he will work with our experienced bankers to maximize our growth potential and provide our customers with a premier client experience that is second to none," Mr. Brown said.

Skorobohaty began his career in banking after earning his B.S. in Business Administration, Management from the University of Denver where he also received his M.B.A. in Finance.

About Hudson Valley Holding Corp. Through its Hudson Valley Bank subsidiary, headquartered in Yonkers, N.Y., Hudson Valley Holding Corp. (NYSE: HVB) serves small- and mid-sized businesses, professional services firms, not-for-profit organizations and their principals throughout metropolitan New York. The company focuses on building strategic relationships with its niche customers, providing a full range of banking, trust and investment management services in addition to specialized services, such as asset based lending and equipment financing, across varied industries nationwide.   With $3.0 billion in assets, $2.6 billion in deposits and 28 branches, Hudson Valley is the largest bank headquartered in Westchester County.   Its common stock is traded on the New York Stock Exchange and is a Russell 3000® Index component.  More information is available at www.hudsonvalleybank.com.

Forward Looking Statements
Hudson Valley Holding Corp. ("Hudson Valley") has made in this press release various forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to earnings, credit quality and other financial and business matters for periods subsequent to March 31, 2014. These statements may be identified by such forward-looking terminology as "expect", "may", "will", "anticipate", "continue", "believe" or similar statements or variations of such terms.  Hudson Valley cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, and that statements relating to subsequent periods increasingly are subject to greater uncertainty because of the increased likelihood of changes in underlying factors and assumptions. Actual results could differ materially from forward-looking statements.

Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements, in addition to those risk factors disclosed in the Hudson Valley's Annual Report on Form 10-K for the year ended December 31, 2013 include, but are not limited to:

• the Office of the Comptroller of the Currency (the "OCC") and other bank regulators may require us to further modify or change our mix of assets, including our concentration in certain types of loans, or require us to take further remedial actions;
• our inability to deploy our excess cash, reduce our expenses and improve our operating leverage and efficiency;
• our ability to pay quarterly cash dividends to shareholders in light of our earnings, the current and future economic environment, Federal Reserve Board guidance, our Bank's capital plan and other regulatory requirements applicable to Hudson Valley or Hudson Valley Bank;
• the possibility that we may need to raise additional capital in the future and our ability to raise such capital on terms that are favorable to us;
• further increases in our non-performing loans and allowance for loan losses;
• ineffectiveness in managing our commercial real estate portfolio;
• lower than expected future performance of our investment portfolio;
• inability to effectively integrate and manage the new businesses and lending teams;
• a lack of opportunities for growth, plans for expansion (including opening new branches) and increased or unexpected competition in attracting and retaining customers;
• continued poor economic conditions generally and in our market area in particular, which may adversely affect the ability of borrowers to repay their loans and the value of real property or other property held as collateral for such loans;
• lower than expected demand for our products and services;
• possible additional impairment of our goodwill and other intangible assets;
• our inability to manage interest rate risk;
• increased expense and burdens resulting from the regulatory environment in which we operate and our ability to comply with existing and future regulatory requirements;
• our inability to maintain regulatory capital above the minimum levels Hudson Valley Bank has set as its minimum capital levels, or such higher capital levels as may be required;
• proposed legislative and regulatory action may adversely affect us and the financial services industry;
• legislative and regulatory actions (including the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act and related regulations) may subject us to additional regulatory oversight which may result in increased compliance costs and/or require us to change our business model;
• future increased Federal Deposit Insurance Corporation, or FDIC, special assessments or changes to regular assessments;
• potential liabilities under federal and state environmental laws;
• legislative and regulatory changes to laws governing New York State's taxation of HVB's REIT subsidiary.

We assume no obligation for updating any such forward-looking statements at any given time.

SOURCE Hudson Valley Holding Corp.