Exhibit 99.1

FOR IMMEDIATE RELEASE
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Hudson Valley Holding Corp.             Contact:  Wendy Croker
21 Scarsdale Road                                 VP, Shareholder Relations
Yonkers, NY 10707                                 (914) 771-3214


                          HUDSON VALLEY HOLDING CORP.
                       ANNOUNCES STOCK REPURCHASE PROGRAM

      Yonkers, N.Y., May 31, 2005 - William E. Griffin, Chairman of the Board of
Hudson Valley Holding Corp. announced the approval by the Board of Directors of
a program, effective June 1, 2005, to repurchase up to 75,000 of its shares at a
price of $44.00 per share, or a price of $53.00 per share for a transaction of
at least 2,500 shares. This offer expires August 30, 2005.

      Griffin, noting the continued strong financial performance of the Company,
said the Board increased the per share repurchase price by $6.50 to $44.00 and
by $9.75 to $53.00 for transactions of at least 2,500 shares.

      Hudson Valley Holding Corp., headquartered in Yonkers, NY, is the parent
company of Hudson Valley Bank, an independently owned local Bank, with $1.9
billion in assets, serving the metropolitan area with 19 branches located in the
Bronx, Manhattan and Westchester and a loan production office in Queens. The
Bank specializes in providing a full range of financial services to small
businesses, professional services firms, not-for-profit organizations and
individuals; and provides investment management services through a subsidiary,
A. R. Schmeidler & Co., Inc. The Company's stock is traded under the ticker
symbol "HUVL" on the OTC Bulletin Board. Additional information on the Bank can
be obtained on our web-site at www.hudsonvalleybank.com.
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This press release contains forward-looking statements made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995. These
statements refer to future events or our future financial performance. We have
attempted to identify forward-looking statements by terminology including
"anticipates," "believes," "can," "continue," "expects," "intends," "may,"
"plans," "potential," "predicts," "should" or "will" or the negative of these
terms or other comparable terminology. These statements are only predictions and
involve known and unknown risks, uncertainties and other factors that may cause
our or the banking industry's actual results, level of activity, performance or
achievements to be materially different from any future results, level of
activity, performance or achievements expressed or implied by these
forward-looking statements. Factors that may cause actual results to differ
materially from those contemplated by such forward-looking statements include,
but are not limited to, material adverse changes in Hudson Valley Bank's
operations or earnings, or a decline in the economy in the New York Metropolitan
area. Although we believe that the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future results, levels of
activity, performance or achievements.