Officer Departs Hudson Valley Bank for New Opportunity
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"This is a great opportunity for Mike,"
About
Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements, in addition to those risk factors disclosed in the Hudson Valley's Annual Report on Form 10-K for the year ended
- the OCC and other bank regulators may require us to further modify or change our mix of assets, including our concentration in certain types of loans, or require us to take further remedial actions;
- our inability to deploy our excess cash, reduce our expenses and improve our operating leverage and efficiency;
- our inability to pay quarterly cash dividends to shareholders in light of our earnings, the current and future economic environment,
Federal Reserve Board guidance, our Bank's capital plan and other regulatory requirements applicable to Hudson Valley orHudson Valley Bank ; - the possibility that we may need to raise additional capital in the future and our ability to raise such capital on terms that are favorable to us;
- further increases in our non-performing loans and allowance for loan losses;
- ineffectiveness in managing our commercial real estate portfolio;
- lower than expected future performance of our investment portfolio;
- a lack of opportunities for growth, plans for expansion (including opening new branches) and increased or unexpected competition in attracting and retaining customers;
- continued poor economic conditions generally and in our market area in particular, which may adversely affect the ability of borrowers to repay their loans and the value of real property or other property held as collateral for such loans;
- lower than expected demand for our products and services;
- possible impairment of our goodwill and other intangible assets;
- <i>our inability to manage interest rate risk;
- the revenue from our asset management subsidiary may not remain at current levels;
- increased expense and burdens resulting from the regulatory environment in which we operate and our inability to comply with existing and future regulatory requirements;
- our inability to maintain regulatory capital above the minimum levels
Hudson Valley Bank has set as its minimum capital levels in its capital plan provided to the OCC, or such higher capital levels as may be required; - proposed legislative and regulatory action may adversely affect us and the financial services industry;
- future increased
Federal Deposit Insurance Corporation , orFDIC , special assessments or changes to regular assessments; - potential liabilities under federal and state environmental laws;
- regulatory limitations on dividends payable by Hudson Valley or
Hudson Valley Bank .
We assume no obligation for updating any such forward-looking statements at any given time.
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