Profits at Hudson Valley Holding Corp. in Yonkers, N.Y., plummeted 96% from a year earlier, to $300,000.

"Despite difficult times for the economy in general and the banking industry in particular, we managed to show a profit in this very challenging economic environment," James J. Landy, the $2.6 billion-asset company's president and chief executive officer, said in a press release issued Wednesday.

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