Catskill Hudson bank holds two ribbon cuttings

By FRITZ MAYER

NARROWSBURG, NY — The branches actually opened on October 1, but grand opening ceremonies were held on November 26. It was the first time in the bank’s brief history that it held two ribbon cuttings on the same day.

The locations were branch offices of the Catskill Hudson bank, located in the Peck’s Markets buildings in Callicoon and Narrowsburg. At the Narrowsburg ceremony, which began at 2:00 p.m., officers from the bank held a ribbon made of real paper money of denominations ranging up to $20. The money from the ribbon was to be donated to the Delaware Valley Arts Alliance.

The bank was formed as the Community Bank of Sullivan County in 1993, changed its name in December 2006, and now has seven branches in Sullivan County and one each in Ulster and Orange counties.

President and CEO Glenn Sutherland said that another branch will open in Youngsville in the early part of 2008. Later in the year, the bank plans to open a branch in Livingston Manor.

After that, Sutherland said, expansion plans will focus more on locations in Orange and Ulster counties.

With the addition of Catskill Hudson, there are now three banks in western Sullivan County. Sutherland said the bank reasonably expects to capture a third of the market here, and that the branches can be profitable because they are small facilities without a lot of overhead.