January 11, 2024

On January 9, 2024, Catskill Hudson Bank, Kingston, NY and its parent company, Catskill Hudson Bancorp, Inc., announced the signing of a definitive merger agreement with Hudson Valley Credit Union, Poughkeepsie, NY, pursuant to which Catskill Hudson Bank will merge with and into Hudson Valley Credit Union, with Hudson Valley Credit Union as the surviving institution in a series of transactions. Pursuant to the merger agreement, stockholders of Catskill Hudson Bancorp, Inc. will receive $40.50 in cash for each share of common stock held, representing an aggregate purchase price of approximately $28.6 million.

The combined institution will have approximately $7.4 billion in total assets and 32 full-service branches throughout the Hudson Valley and Capital Regions.

Luse Gorman is serving as legal counsel to Catskill Hudson Bancorp, Inc. and Catskill Hudson Bank in the transaction. The Luse Gorman team consists of Jeff Cardone, Ben Azoff, Michael Brown, Agata Troy and Brendan Saxon.

Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past five years and more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.