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.