U.S.B. Holding Co., Inc. is a bank holding company that provides financial services through its wholly owned subsidiaries. The Company and its subsidiaries derive substantially all of their revenue and income from providing banking and related financial services, primarily to customers in Rockland and Westchester Counties, Manhattan, New York City and Long Island, New York; Northern New Jersey, and Southern Connecticut, as well as Orange, Putnam and Dutchess Counties, New York. Union State Bank is the Company's commercial banking subsidiary. As of December 31, 2001, it had 22 branches.