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While many banks have watched their earnings erode in recent years, Greater Hudson Bank in Middletown, N.Y., is bucking the trend — it first became profitable last year and has reported its fifth consecutive quarterly profit.
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September 24
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.
