Hudson City Bancorp, Inc. (NASDAQ:HCBK) defers 2013 Annual Shareholders Meeting


Dallas, Texas 09/19/2013 (Financialstrend) – Hudson City Bancorp, Inc. (NASDAQ:HCBK) is Hudson City Savings Bank’s holding company. It announced that the Annual Shareholders Meeting will be held on 18 December 2013. October 28 will be the voting-record date. The 2013 Annual Shareholder Meeting has been postponed because of the company’s pending merger with a 100%-owned M&T Bank Corporation subsidiary, Wilmington Trust Corporation.

The company announced that keeping in view the previously-announced delay in closure of the Merger as well as extension of this Merger Agreement through to 31 January 2014; they have decided to now schedule the 2013 Annual Shareholder Meeting on 18 December 2013. This is in compliance with NASDAQ’s corporate-governance requirements. If the Merger closing takes place before 18 December 2013, the meeting will not be held.

Wednesday trading

In Wednesday’s trading, Hudson City Bancorp, Inc. (NASDAQ:HCBK) stock rose by 0.76%. The opening price of the shares was $9.14 which climbed to an intraday high of $9.33 and then dipped to close at $9.25. Approximately 3.98 million shares were traded on Wednesday. The average volume of shares traded over 30 days was 3.21 million. The company has a market capitalization of $4.89 billion.

About the company

Hudson City Bancorp, Inc. (NASDAQ:HCBK) is the holding-company of Hudson City Savings Bank, its subsidiary which is a federal-stock savings bank. It is a consumer and community oriented retail savings-bank. It offers traditional deposit-products, residential real-estate mortgage loans as well as consumer loans. Apart from this, it buys mortgages and MBS and some other securities that have been issued by the U.S government-sponsored enterprises (GSEs), as well as some other investments that are permitted by the applicable regulations and laws.

Hudson City Bancorp, Inc. (NASDAQ:HCBK) substantially retains all the loans that it originates from its portfolio.