September 22, 2009, 2009 (FinancialWire) — Hudson Valley Holding Corp. (NASDAQ: HUVL) said it will delay a $90 million underwritten offering of common stock as a result of a technical issue under New York corporate law relating to preemptive rights.

The company plans to file a preliminary proxy statement with the SEC under which it will seek approval from its stockholders to amend its certificate of incorporation to eliminate preemptive rights.

Hudson Valley has scheduled a stockholders meeting for October and said it will resume the offering shortly thereafter subject to receiving the required vote.

Yonkers, New York-based Hudson Valley Holding is the parent of Hudson Valley Bank and New York National Bank.

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