Daily News: May 13, 2013

Hudson Valley Bank Names Indiveri EVP, CFO

Hudson Valley Holding Corp. named Michael J. Indiveri, CPA to serve as executive vice president and chief financial officer.

Indiveri has more than 20 years of experience serving as a commercial banks and thrift CFO, most recently at Amalgamated Bank in New York City. In addition, he is chairman of the Audit Committee and a member of the Governance and Nominating Committee at Retail Opportunity Investments Corporation, a NASDAQ listed company, where he has served as a member of the board of directors since the real estate investment trust’s (REIT) inception in 2007.

“We’re delighted to be adding a seasoned financial executive with considerable industry experience along with extensive knowledge of our market area,” president and chief executive officer Stephen R. Brown said. “Michael is a highly regarded bank executive in Metro New York whom we’ve known for years, and his proven experience in strategic plan execution and financial performance enhancement is a tremendous asset to Hudson Valley. We are focused on becoming a more nimble, sophisticated and competitively positioned bank, and attracting such high caliber talent with a track record of building long-term shareholder value will aid our progression along this path.”

Prior to Hudson Valley, Indiveri provided independent financial and accounting consulting services to a community bank with nearly $1 billion in assets. From 2007 to 2011, he was executive vice president and CFO of Amalgamated. From 1997 until 2007, Indiveri served as executive vice president and CFO and a member of the board of directors of Yonkers’ City & Suburban Federal Savings Bank, where he was recruited to join a new management team that successfully turned around the $670 million-asset thrift and operated it until its sale to another local community bank for a premium of about 220% of tangible book value.

Indiveri has also served as CFO of New York Federal Savings Bank and Savings Bank of Rockland County, spent seven years in the corporate finance group at Chase Manhattan Bank, and began his banking career at City Federal Savings Bank in 1977.