YONKERS, NY – October 24, 2014 — John Seward, a Benzinga* Staff Writer early this afternoon divulged that the Yonkers, New York- based Hudson Valley Holding Corp. (NYSE: HVB), which operates in Westchester County is on the auction block according to sources unnamed, but cited by Bloomberg, the premier business and financial market news site.
Hudson Valley recently traded at $22.51 per share, a 19 percent up-tick. The bank holding company, with assets of about $3.23 billion and 18 branches. News agencies speculate that HVB may be sold to Sterling Bancorp (NYSE: STL) or People’s United Financial Inc. (NASDAQ: PBCT).
Hudson’s net income for the period ended June 30 fell by about a third and both its net interest income and loan portfolio were nearly flat.
People’s, with assets of $33.92 billion, operates about 400 branches in much of New England and New York, while Sterling has assets of about $7 billion and about two dozen branches in the New York Metropolitan area.
According to Bloomberg, Hudson Valley is working with Stifel Financial Corp. and Keefe, Bruyette & Woods Inc. on the sale; People’s and Sterling were each down about 0.7 percent recently.
*Benzinga is an elite financial media outlet. Their partners include Goldman Sachs, Knight Capital, TD Ameritrade, Microsoft, TD Ameritrade, Trade Station, Market Watch, Forbes, FOX Busiess, Investor’s business Daily, MSN Money, and optionshouse.
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doesn’t matter nobody holds these bums accountable
we hold them accountable, stop voting them back into office. One and done sounds good
Cuomo is the PIMP of YO, what other city has a loan from NYS to fund school, while NYS has a $6 Billion surplus thanks to bank fines????????????NO CITY LEADERSHIP….taxpayers lose again. NYC got $400 million additional money instantly with no loans?