YONKERS, N.Y., Jan. 26, 2015 /PRNewswire/ -- Hudson Valley Bank (HVB), a wholly-owned subsidiary of Hudson Valley Holding Corp. (NYSE: HVB), announced today the closing of its previously announced sale of A.R. Schmeidler & Co., Inc. (ARS), HVB's wholly-owned registered investment advisor and broker dealer firm to Pine Street Asset Management, through their subsidiary Artemis US IV LLC.
Silver Lane Advisors acted as financial advisor to HVB and Day Pitney LLP served as legal counsel.
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, deposit, financing, trust and investment management services, in addition to specialized services, such as asset based lending and equipment financing, across varied industries nationwide. With $3.1 billion in assets, $2.8 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.
SOURCE Hudson Valley Holding Corp.