Hudson Valley Holding (HVB) in Yonkers, N.Y., has appointed a large investor to its board.
The $3 billion-asset said in a press release Thursday that Matthew Lindenbaum, principal of Basswood Capital Management, had become a director. Lindenbaum is also vice chairman of Community National Bank in Long Island, N.Y.
Lindenbaum's "extensive banking experience in the New York area, as well his established track record of success navigating the financial markets over his career, provide the necessary skills to position Hudson Valley for continued success going forward," James Landy, Hudson Valley's chairman, said in the release.
Basswood disclosed in a regulatory filing Thursday that it had requested the board seat. The company controls about 9.8% of Hudson Valley's common stock.