Hudson Valley Holding (HVB) in Yonkers, N.Y., announced Friday that the chief administrative officer of its bank is leaving to take the helm of a New York trust.
Michael Gilfeather is stepping down from his position in order to serve as president and chief executive of Orange County Trust Company in Middletown, N.Y. Gilfeather has been with the $3 billion-asset Hudson for nine years. He previously served as the senior manager for The Bank of New York's Manhattan retail banking operations. His resignation is effective April 3.
Hudson Valley did not say whether it plans to name a replacement for Gilfeather. A call to the company was not immediately returned.
The $667 million-asset Orange County Trust was previously led by president and CEO Terry Saturno, according to its website. Orange County did not immediately return a call seeking comment.
Hudson Valley announced earlier this week that it has appointed a large investor to its board.
The company 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 Great Neck, 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.