Hudson River Bancorp of Hudson, N.Y., has agreed to buy an equity interest in Bostwick Group, a local insurance agency. Terms of the deal were not disclosed.

The alliance between $881 million-asset Hudson River and Bostwick Group would let Hudson market insurance products to its customers for the first time. The agency offers commercial and personal property and casualty insurance as well as life, health, and employee benefits.

The Bostwick Group, which had $2.5 million of revenue in 1998, has offices in six upstate New York counties. Hudson River is the parent of Hudson River Bank and Trust Co., which has 13 branches in New York State.

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