**EXHIBIT 21**

**SUBSIDIARIES OF THE REGISTRANT**

 

| **Parent**                            |   | **Subsidiary**                                 |   | **Percent of****Ownership** |   | **State of****Incorporation or****Organization of****Parent/Subsidiary** |
|---------------------------------------|--------|------------------------------------------------|--------|-----------------------------|--------|--------------------------------------------------------------------------|
|                                       |   |                                                |   |                             |   |                                                                          |
|                                  |   |                                           |   |                        |   |                                                                     |
| Hudson River Bancorp, Inc.            |   | Hudson River Bank & Trust Company          |   | 100%                        |   | Delaware/NewYork                                                         |
|                                  |   |                                           |   |                        |   |                                                                     |
| Hudson River Bancorp, Inc.            |   | C. W. Bostwick, Inc.                           |   | 76.3%                       |   | Delaware/NewYork                                                         |
|                                  |   |                                           |   |                        |   |                                                                     |
| Hudson River Bank & Trust Company |   | Hudson City Associates, Inc.                   |   | 100%                        |   | New York                                                                 |
|                                  |   |                                           |   |                        |   |                                                                     |
| Hudson River Bank & Trust Company |   | Hudson River Mortgage Corporation              |   | 100%                        |   | New York                                                                 |
|                                  |   |                                           |   |                        |   |                                                                     |
| Hudson River Bank & Trust Company |   | Hudson River Funding Corp.                     |   | 99.9%                       |   | New York                                                                 |
|                                  |   |                                           |   |                        |   |                                                                     |
| Hudson River Bank & Trust Company |   | Hudson City Centre, Inc.                       |   | 100%                        |   | New York                                                                 |
|                                  |   |                                           |   |                        |   |                                                                     |
| Hudson River Bank & Trust Company |   | Hudson River        Financial Management, Inc. |   | 100%                        |   | New York                                                                 |
|                                  |   |                                           |   |                        |   |                                                                     |
| Hudson River Bank & Trust Company |   | HRBT Services Corp.                            |   | 100%                        |   | New York                                                                 |
|                                  |   |                                           |   |                        |   |                                                                     |
| Hudson River Bank & Trust Company |   | Hudson River Commercial Bank                   |   | 100%                        |   | New York                                                                 |