ConnectOne Bancorp, the parent company of ConnectOne Bank, has completed its previously announced merger with Greater Hudson Bank.

As per the agreement, Greater Hudson Bank has now been merged with and into ConnectOne Bank.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Greater Hudson Bank merger: Background

In July last year, both the entities signed an agreement to merge ConnectOne Bank and Greater Hudson Bank through an all-stock transaction valuing around $76.3m.

As per the agreement, each outstanding Greater Hudson Bank common stock share will be exchanged for 0.245 shares of ConnectOne common stock.

Greater Hudson director Daniel Rifkin has been inducted into the ConnectOne’s board of directors, as part of the deal.

ConnectOne chairman and CEO Frank Sorrentino said: “Our acquisition of the commercially-focused Greater Hudson Bank is both a financially attractive transaction and a compelling expansion opportunity in a complimentary market.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“It allows us to better serve the Hudson Valley region by adding experienced bankers to our team and by offering a product set that rivals the largest institutions, while continuing to deliver the level of client service synonymous with our commitment to be ‘a better place to be’.”

As of 31 March 2018, Greater Hudson franchise had $401.7m in deposits and $340.7m in loans.

Established in 2002, the bank used to provide customised banking services, commercial mortgages, and business credit lines.

The acquisition strengthens ConnectOne’s New York operations and its footprint in the Hudson Valley region.