YONKERS, N.Y., June 24 /PRNewswire-FirstCall/ -- Hudson Valley Holding Corp. (Nasdaq: HUVL), is set to join the broad-market Russell 3000® Index when Russell Investments reconstitutes its family of U.S. indexes on June 25, according to a preliminary list of additions posted June 11 on www.russell.com.
Annual reconstitution of Russell's U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. As a member of the Russell 3000® Index, which remains in place for one year, Hudson Valley also automatically would be included in the Russell 2000® Index, which measures the performance of the small-cap equity universe. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
President and CEO James J. Landy stated, "We are honored that Hudson Valley has been selected to join the Russell 3000® Index. It is an important achievement for our Company and the inclusion will increase our visibility within the investment community."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.9 trillion in assets currently are benchmarked to them. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.
Total returns data for the Russell 3000® and other Russell Indexes is available at http://www.russell.com/Indexes/performance/default.asp.
Hudson Valley Holding Corp. (HUVL), headquartered in Yonkers, NY, is the parent company of Hudson Valley Bank (HVB). Hudson Valley Bank is a Westchester based bank with more than $2.8 billion in assets, serving the metropolitan area with 36 branches located in Westchester, Rockland, the Bronx, Manhattan, Queens and Brooklyn in New York and Fairfield County and New Haven County, in Connecticut. HVB specializes in providing a full range of financial services to businesses, professional services firms, not-for-profit organizations and individuals; and provides investment management services through a subsidiary, A. R. Schmeidler & Co., Inc. Hudson Valley Holding Corp.'s common stock is traded on the NASDAQ Global Select Market under the ticker symbol "HUVL". Additional information on Hudson Valley Bank can be obtained on their web-site at www.hudsonvalleybank.com.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements relate to future events or our future financial performance. We have attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "expects," "intends," "may," "plans," "potential," "predicts," "should" or "will" or the negative of these terms or other comparable terminology. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from our future results, level of activity, performance or achievements expressed or implied by these forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to:
- a continued or unexpected decline in the economy in the New York Metropolitan area;
- increases in loan losses or in the level of nonperforming loans;
- unexpected increases in our allowance for loan losses;
- our failure to maintain required regulatory capital levels;
- further declines in value in our investment portfolio;
- a continued or unexpected decline in real estate values within our market areas;
- higher than expected FDIC insurance premiums;
- unexpected changes in interest rates;
- additional regulatory oversight which may require us to change our business model;
- the imposition on us of liabilities under federal or state environmental laws;
- those risk factors identified in our SEC filings, including our Form 10-K for the fiscal year ended December 31, 2009, and subsequent quarterly report on Form 10-Q for fiscal quarter ended March 31, 2010.
Forward looking statements speak only as of the date such statements are made. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.
SOURCE Hudson Valley Holding Corp.