Fourteen local businessmen, who became the founding directors, formed
Riverside Bank. They felt that there was a need for a small local commercial
bank to service the needs of small to medium sized businesses and
professionals that the larger banks were not servicing. This is still the
philosophy of the existing Board and Management of the bank today.
Riverside Bank opened for business in February 1988 as a New York State
chartered commercial bank. The bank is a publicly owned, FDIC insured
institution with an emphasis placed on providing service within a limited
market area to small and medium sized businesses, professionals and
individuals. Our original location in downtown Poughkeepsie continues to
serve as the main office of the bank. In March 1998, the bank expanded into
the Town of Poughkeepsie and opened a branch in Red Oaks Mill. In April
2001, the bank further expanded by opening a branch in Newburgh, in Orange
County. In September 2002, the bank expanded into Southern Dutchess County
by opening a branch in Fishkill. As of December 31, 2012, the bank had total
assets of $227 million.