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February 06, 2016 11:08 AM ET

Thrifts and Mortgage Finance

Company Overview of Hudson City Bancorp, Inc.

Company Overview

As of November 1, 2015, Hudson City Bancorp, Inc. was acquired by Wilmington Trust Corporation. Hudson City Bancorp, Inc. operates as the holding company of Hudson City Savings Bank that provides various banking products and services in the United States. Its deposit products include passbook and statement savings accounts, interest-bearing transaction accounts, checking accounts, money market accounts, and time deposits, as well as IRA accounts and qualified retirement plans. The company’s loan portfolio comprises one-to four-family residential first mortgage loans; multi-family and commercial mortgage loans; construction loans; consumer loans consisting of fixed-rate second mortgage loans ...

West 80 Century Road

Paramus, NJ 07652

United States

Founded in 1868

1,438 Employees

Phone:

201-967-1900

Key Executives for Hudson City Bancorp, Inc.

Hudson City Bancorp, Inc. does not have any Key Executives recorded.

Hudson City Bancorp, Inc. Key Developments

Hudson City Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

Hudson City Bancorp, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company has posted net interest income of $37,231,000 against $104,938,000 a year ago. Loss before income tax expense was $21,193,000 against income before income tax expense of $62,331,000 a year ago. Net loss was $16,814,000 or $0.03 basic and diluted per share against net income of $62,331,000 or $0.03 basic and diluted per share a year ago. For the nine months, the company has posted net interest income of $169,415,000 against $354,956,000 a year ago. Income before income tax expense was $47,121,000 against $198,470,000 a year ago. Net income was $24,733,000 or $0.05 basic and diluted per share against $118,829,000 or $0.24 basic and diluted per share a year ago. Net cash used in operating activities was $23,427,000 against net cash from operating activities of $129,543,000 a year ago. Purchases of premises and equipment, net was $732,000 compared to $2,494,000 a year ago.

M&T Bank Corp. Plans to Eliminate 24% of Hudson City Bancorp Inc.'s Workforce

M&T Bank Corp. is making plans to pay out approximately $7 million in severance packages to eliminate 24% of Hudson City Bancorp Inc.'s workforce. The company will cut 366 jobs between January and August, most of which will be back-office administrative positions that already exist in Buffalo and other parts of M&T's multi-state footprint. That leaves 1,155 former Hudson City positions that M&T will retain, boosting the latter's overall workforce to more than 16,500. M&T plans to hire about 40 business bankers in New Jersey to join the region's existing commercial lending team, which numbers about 140.

Hudson City Bancorp, Inc.(NasdaqGM:HCBK) dropped from Russell 1000 Index

Hudson City Bancorp, Inc. will be removed from Russell 1000 Index.

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