Greater Hudson in N.Y. Switches CEOs

Greater Hudson Bank (GHDS) in Middletown, N.Y., has named its next chief executive.

Edward Lutz, the co-vice chairman of the bank's board, will become president and CEO, the $316 million-asset company announced Friday. He succeeds Eric Wiggins.

The bank did not immediately respond to a request for further details.

Lutz was part of a group of investors that recapitalized Greater Hudson in 2008. He is a former director at Union State Bank and the Berkshire Bank, and has worked as a regulator for the Federal Deposit Insurance Corp., Greater Hudson said.

Wiggins had led Greater Hudson for five years, it said. Through the first half of this year the bank reported a $1 million profit, according to the FDIC.

The bank was founded in 2002 and has five branches in upstate New York.