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WCBJ WESTCHESTER COUNTY BUSINESS JOURNAL YOUR only SOURCE FOR regional BUSINESS NEWS | May 7, 2012 | VOL. 48, No. 19 HV Bank, 40 years old, expands in Rockland I Adding to the honor, AVR was one of only two residential developers in the nation to receive the award as a new homebuilder. “Overall, we kind of fly under the radar,” Eickelbeck said of AVR, whose homebuilding division, while delaying the start of some of its projects in the region, seems to have survived what he called the “brutal, extremely difficult” housing market of recent years better than many of its competitors. Founded by owner Allan V. Rose, AVR Realty Inc. has built, acquired and developed more than 30 million square feet of commercial and residential space nationwide in its roughly 45-year history. Its diverse properties include the n 1972, Hudson Valley Bank consisted of a trailer on East Grassy Sprain Road in Yonkers. It had $10 million in assets after its first 12 months in business. Humble beginnings indeed. Today, as the bank approaches its 40th anniversary on May 12, it ranks among the tri-state region’s largest community banks with more than $2.8 billion in assets. While still based in Yonkers, Hudson Valley Bank – a subsidiary of Hudson Valley Holding Corp. – now operates 36 branches in Westchester, Rockland, Fairfield County, Conn., and New York City, with the newest branch opening in Suffern in January. Hudson Valley Bank’s presence across the Hudson is still relatively minor: Suffern became its second full-service location in Rockland. A New City branch opened in 2007. However, CEO and President James J. Landy said Rockland is turning into an area of strategic importance, and compared the circumstances underlying the bank’s expansion there to those that initially led to its establishment 40 years ago. “When the bank was formed 40 years ago it was because of all these money center banks coming in and buying up the local banks,” said Hudson Valley Holding Corp. CEO and President James J. Landy. “There was no local bank left at that time in the Yonkers community.” Similarly, Landy said a void was left in Rockland following Cleveland-based KeyCorp’s November 2007 takeover of U.S.B. Holding Co. Inc. and its banking subsidiary Union State Bank, which was at the time one of the predominant community banks in the county. “We saw the vacuum there,” he said. “As a result, it was a natural extension for us to cross the river. In the past we didn’t go over to Rockland because that need for our style bank was Building, page 6 Bank, page 6 Mark Eickelbeck, chief operating officer of AVR Homebuilders, at the company’s new development in Fishkill. Building green in a ‘brutal’ market BY JOHN GOLDEN T he weighty crystal award that a Yonkers real estate developer recently picked up in Washington, D.C., was on display at the sales center at Overlook Pointe, a residential development overlooking the Hudson River where construction activity this spring could signal a long-awaited turn in the region’s housing market. “We’re very honored by this,” said Mark C. Eickelbeck, chief operating officer of AVR Homebuilders, a division of AVR Realty Inc. in Yonkers. He was speaking of the 2012 Energy Star Partner of the Year award presented to his company by federal Environmental Protection Agency officials. BY PATRICK GALLAGHER A revitalized YWCA in White Plains • 2

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