Press Release
Approval of Application by The Westchester Bank Holding Corporation, Yonkers, New York
May 9, 2008

NEW YORK—The Federal Reserve Bank of New York approved the application by The Westchester Bank Holding Corporation, Yonkers, New York, for prior approval of the Board of Governors of the Federal Reserve System (the “Board”), to become a one-bank holding company through the acquisition of all the voting stock of the Westchester Bank, a proposed de novo New York State-chartered commercial bank located in Yonkers, New York, pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956, as amended.

According to standard procedure, the proposal cannot be completed for 15 days.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.