Seeking Alpha

Hudson City earnings

  • HCBK EPS of $0.10 compares to $0.15 a year ago.
  • Net interest income of $159.9M off 28.7% Y/Y as NIM fell to 1.64% from 2.12%.
  • Provision for loan losses fell to $12.5M from double that amount a year ago thanks to stabilizing home prices and shrinkage in loan portfolio.
  • Adjusted noninterest income of $2.4M vs. $2.9M a year ago.
  • Closing date for merger with M&T Bank (MTB) extended until Jan. 31, 2014.
  • CEO: "Profitable growth opportunities remains scarce ... the recent increase in longer-term interest rates did not have a measurable effect on us ... these rates remained too low to compel us to pursue balance sheet growth."
  • Earlier: Earnings report. (PR)
From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs