YONKERS, New York, Aug. 30, 2011 /PRNewswire/ -- William E. Griffin, Chairman of the Board of Hudson Valley Bank, has announced that Vincent T. Palaia has been elected as a Director of the Bank.
Mr. Palaia has been a senior executive with Hudson Valley for the past 23 years. He joined the Bank in 1988 and was named to his current position, Executive Vice President and Chief Lending Officer, in 1997. In that time, the Bank has grown significantly. When he first came to Hudson Valley, the Bank had approximately $200 million in its loan portfolio, which has grown to about $2 billion today.
Mr. Palaia has more than 40 years of experience in community banking in the New York Metropolitan area. He started his career with National Bank of Westchester in 1967 and subsequently worked for Lincoln Bank and Chase Bank in various capacities.
A resident of Greenburgh, NY, he has been active in a number of civic and business organizations throughout the area, including Junior Achievement, the Lions Club, local Chambers of Commerce and the New York Business Development Corp. He also spent two years of active duty in the U.S. Navy.
"Vinny has a great depth of banking knowledge and experience and will be a great addition to the Board," Mr. Griffin said. "His expertise in the credit arena will be especially beneficial in maintaining the strength of our loan portfolio in these particularly challenging times for the industry. Vinny has been a long-time and important member of the Hudson Valley family. He will retain his current position. We believe that as a Board member, he will provide valuable insight, counsel and strategies to contribute to the continued growth and success of the Bank."
Hudson Valley Bank is a Westchester based bank with more than $2.8 billion in assets, serving the metropolitan area with 35 branches located in Westchester, Rockland, the Bronx, Manhattan and Brooklyn in New York and in Fairfield County and New Haven County in Connecticut. HVB specializes in providing a full range of financial services to small businesses, professional service firms, not-for-profit organizations and individuals; and provides investment management services through a subsidiary, A. R. Schmeidler & Co., Inc. Hudson Valley Holding Corp. is the parent company of Hudson Valley Bank. Hudson Valley Holding Corp.'s common stock is traded on the NYSE under the ticker symbol "HVB" and is included in the Russell 3000®. Additional information about Hudson Valley Bank can be obtained at www.hudsonvalleybank.com.
SOURCE Hudson Valley Bank