Greater Hudson Bank has expanded into Westchester County through a recent opening of a 2,300-square-foot branch on North Broadway in White Plains.
The Hudson Valley-based bank operates branches in Middletown, Warwick and Bardonia.
In the Greater Hudson 2009 annual report, President and CEO Eric Wiggins said “our intended growth in Westchester is a natural extension of our geographic presence in the Hudson Valley and will help to better serve our customers.”
Bank earnings for the first quarter of 2010 were substantially up from last year.
Reported net income for the three months ending March 31, 2010, was $159,000 compared to a net loss of $582,000 in 2009.
Total assets grew to $200.4 million, up $100.9 million or 84.5 percent from last year.
In the first quarter earnings report, Wiggins said, “On a year over year basis, Greater Hudson has shown tremendous growth in both deposits and loans outstanding. Our margins continue to improve as we achieved our fourth consecutive profitable quarter. As we enter the Westchester County market this May with a branch in White Plains, we are very excited about our prospects for continued growth.”
Greater Hudson Bank N.A. was founded in 2002 and is headquartered in Middletown.
