Hudson City Bancorp Inc (HCBK)

[Bulldog2002]

Hudson City Bancorp, Inc. Announces Earnings Release DateJanuary 6, 2009 12:43 PM ET advertisement

Article tools E-mail this article Print-friendly version Discuss this articleStocks mentioned in this articleHudson City Bancorp Inc (HCBK) Stock Quote, Chart, News, Add to WatchlistRelated newsForbes Names Hudson City Best-Managed Bank in America Two Years in a RowStandout 2008 fund managers staying defensive
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PARAMUS, N.J., Jan. 6 /PRNewswire-FirstCall/ -- Hudson City Bancorp, Inc. HCBK, the holding company for Hudson City Savings Bank, will report the results of operations for the quarter ended December 31, 2008 on Wednesday, January 21, 2009. The earnings release, detailing the results of operations and financial condition of Hudson City Bancorp, will be issued prior to the opening of equity markets on that date.


Hudson City Bancorp, which maintains its corporate office in Paramus, New Jersey, is the largest savings bank in the United States. Forbes recently named Hudson City "The Best-Managed Bank of 2008". In addition, The Wall Street Journal Shareholder Scoreboard of 1,000 companies across 75 industry groups cited Hudson City as the #2 bank in the country for a 5-year average return of 23.6%. Hudson City is a well-established community banking institution with a long-standing tradition of service excellence. Hudson City is recognized as The Most Efficient Bank in the country, which enables it to deliver significant values to customers in the form of competitive deposit yields and mortgage rates, lower closing fees and a straight-forward, streamlined mortgage process. Hudson City is ranked in the top twenty-five U.S. financial institutions by asset size and currently operates a total of 127 branch offices in the New York metropolitan area. Deposit accounts at Hudson City are FDIC-insured to the maximum allowed by law.

[Bulldog2002]

Forbes Names Hudson City Best-Managed Bank in America Two Years in a RowJanuary 7, 2009 8:39 AM ET advertisement

Article tools E-mail this article Print-friendly version Discuss this articleStocks mentioned in this articleHudson City Bancorp Inc (HCBK) Stock Quote, Chart, News, Add to WatchlistRelated topicsEconomic IndicatorsRelated newsStandout 2008 fund managers staying defensiveKohl's, AT&T could be stronger when recession endsHudson City Bancorp, Inc. Announces Earnings Release DateEuro crosses $1.37 in European tradingMich. gov facing pressure to stop new coal plants
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PARAMUS, N.J., Jan. 7 /PRNewswire-FirstCall/ --Hudson City Bancorp, Inc. ("Hudson City") HCBK, the largest savings bank in the United States, was named one of the Best Big Companies in America and singled out as The Best-Managed Bank in America again in 2008 by Forbes magazine. Forbes selects the Platinum 400 -- the Best Big Companies in America -- on such factors as sales and earnings growth, debt to total capital, earnings outlook and stock market returns.


According to Ronald E. Hermance, Jr., Chairman, President and Chief Executive Officer of Hudson City, "This is our year to shine. While 2008 was a year of unprecedented turbulence across the financial services industry, Hudson City Bancorp not only survived, but thrived during one of the worst economic downturns in decades. 2008 marks our tenth straight year of record earnings."


According to Forbes, The Platinum 400 companies are separated into 26 industry groups upon which they are ranked by numerous growth rates and valuation measures. "Our methodology ranks companies both on one- and five-year data, in order to take into account long-term success and latest performance. Guided by these rankings and other data, such as analyst reviews and accounting and governance ratings, our editors chose one company as the best managed for each industry." Hudson City received this honor in both 2007 and 2008.


Forbes also named Hudson City One of The Best Recession Stocks. According to the report: "One theory that has not held up, especially in 2008, is that financial services are a safe place to invest during a downturn. We have only identified one Platinum 400 bank, Hudson City Bancorp,that met our screening criteria. Our editors also selected this Paramus, N.J., outfit as the best-managed company in the banking industry."


At a time when the economy is facing an extraordinary level of uncertainty, Hudson City's traditional approach to banking has been applauded by the national media covering Wall Street and Main Street alike. On June 23, 2008, Investor's Business Daily reported, "Hudson looks like one of those rare stocks that -- thanks to smart management -- will skip the subprime pain." On August 14, 2008, the New York Times reported, "Hudson City is one of the few bright spots in an industry beset with gloom and doom." On October 3, 2008, ABC News said, "As big banks crumbled and Wall Street threatened to bring down Main Street, there was a little bank that quietly moved forward and watched its status rise."



Hudson City Bancorp, Inc., the largest savings bank in the United States by market capitalization, is recognized as The Most Efficient Bank in the country. This enables Hudson City to deliver significant values to customers in the form of higher deposit yields, competitive mortgage rates, lower fees, and a straightforward, streamlined loan process. Hudson City, headquartered in New Jersey, also serves customers throughout the surrounding metropolitan New York area with branches located in Westchester, Fairfield, Putnam, and Rockland counties, as well as in Long Island, Staten Island, and the New Jersey suburbs of Philadelphia. Deposit accounts at Hudson City are FDIC insured to the maximum allowed by law.


This release may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and may be identified by the use of such words as "may," "believe," "expect," "anticipate," "should," "plan," "estimate," "predict," "continue," and "potential" or the negative of these terms or other comparable terminology. Examples of forward-looking statements include, but are not limited to, estimates with respect to the financial condition, results of operations and business of Hudson City Bancorp that are subject to various factors which could cause actual results to differ materially from these estimates. Any or all of the forward-looking statements in this release and in any other public statements made by Hudson City may turn out to be wrong. They can be affected by inaccurate assumptions Hudson City might make or by known or unknown risks and uncertainties. Consequently, no forward-looking statement can be guaranteed. Hudson City does not intend to update any of the forward-looking statements after the date of this release or to conform these statements to actual events.

[Bulldog2002]

Time to test 17.57.....

[Bulldog2002]

Added HCBK today! Looks like a great entry point!

[SeriousStockStoke]

HCBK smokin the other banks.

Their traditional lending style is just awesome!!! I was a Wachovia shareholder and removed myself from that sinking ship to board the Carpathia of banks in my opinion lol. Buying incrementally and re-investing the dividends for the long term. I think Hudson City will exit this housing led recession in very good shape and benefit from a complete leveling of the playing field for mortgages.


Keep On Keepin On Hudson City.




*Position: Long HCBK

[Heedapeeker™]

Note to self.

It was a good day for HCBK.

Then, AH happened.

[Heedapeeker™]

Hudson City Bancorp 4Q Earnings Rise
Wednesday January 23, 9:20 am ET
Hudson City Bancorp 4th-Quarter Earnings Rise 12 Percent on Jump in Net Interest Income


PARAMUS, N.J. (AP) -- Hudson City Bancorp said Wednesday fourth-quarter earnings rose 12 percent due to a 15 percent jump in net interest income.
Fourth-quarter net income rose to $77.5 million, or 16 cents per share, from $69.2 million, or 13 cents per share, during the same period the previous year.

Source: http://biz.yahoo.com/ap/080123/earns_hudson_city_bancorp.html?.v=1

[Heedapeeker™]

PARAMUS, N.J., Jan. 14 /PRNewswire-FirstCall/ -- Ronald E. Hermance, Jr., Chairman, President and Chief Executive Officer of Hudson City Bancorp, Inc. ('Hudson City') (Nasdaq: HCBK), the largest savings bank headquartered in New Jersey and the second largest thrift in the United States, was recently named Banker of the Year by Jim Cramer of Cramer's nationally syndicated Mad Money program on CNBC.

The award follows the Bank being named The Best-Managed Bank of 2007 by Forbes. According to Forbes, 'Bank revenue has grown an average 17% over the past five years. Hudson City's stock, up 22% over the past three years, easily beat its fellow thrifts, down 23%.'

In naming Hermance as recipient of the inaugural George Bailey Banker of the Year Award, (named after the movie character in It's a Wonderful Life) Cramer noted, 'Hudson City is the only bank that we're recommending...Even as the financial sector continues to reel from the subprime-mortgage loan crisis, one bank is showing others how to do business the old fashioned way. Hermance runs a lean, mean banking machine.'

Hudson City serves New York, New Jersey and Connecticut and has stayed away from the speculative markets of Florida and California.

'Hudson City operates much more efficiently than its competitors,' said Hermance during an interview with Cramer. 'On average, the top banks in the country spend 55 cents of every dollar on overhead costs while Hudson City spends 25.6 cents. The higher efficiency enables the Bank to give our customers better deposit yields, lower fees, and competitive mortgage rates,' said Hermance.

'The in-born efficiency is not something any bank can create now,' he said. 'It has to have occurred 20 to 25 years ago, with getting the right kind of lease, employees, pensions, everything. You have to make that kind of investment years ahead of time.'

According to Hermance, total assets for the Bank have consistently grown from $8.5 billion to over $42 billion since first going public in 1999. Residential mortgage lending grew at a compounded annual rate of 24% over the same time period and the average deposits per branch of $124 million is 80% higher than the national average of $69 million of FDIC insured banks.

In addition to the Jim Cramer Mad Money and Forbes awards, Hudson City was added to the S&P 500 Index in February 2007. It also received top rankings in the Wall Street Journal's 2007 Annual Shareholder Performance Scoreboard. The Wall Street Journal cited Hudson City as the number two bank in the country as ranked by a five-year average return of 30.29% and the New York Times has recognized Hudson City's strong performance as well. On September 25, 2007, Hudson City was cited as the top-performing bank in the S&P 500 over the past year with a 15.6% return.

Hudson City Savings Bank, among the top fifty banks in the United States by asset size, is recognized as The Most Efficient Bank in the country. This enables Hudson City to deliver significant values to customers in the form of higher deposit yields, competitive mortgage rates, and lower fees. Hudson City, the largest savings bank headquartered in New Jersey, also serves customers throughout the surrounding metropolitan area with branches located in Westchester, Fairfield, Putnam, and Rockland counties, as well as in Long Island, Staten Island, and the New Jersey suburbs of Philadelphia. Deposit accounts at Hudson City are FDIC insured to the maximum allowed by law.

This release may contain certain 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, and may be identified by the use of such words as 'may,' 'believe,' 'expect,' 'anticipate,' 'should,' 'plan,' 'estimate,' 'predict,' 'continue,' and 'potential' or the negative of these terms or other comparable terminology. Examples of forward-looking statements include, but are not limited to, estimates with respect to the financial condition, results of operations and business of Hudson City Bancorp that are subject to various factors which could cause actual results to differ materially from these estimates. Any or all of the forward-looking statements in this release and in any other public statements made by Hudson City may turn out to be wrong. They can be affected by inaccurate assumptions Hudson City might make or by known or unknown risks and uncertainties. Consequently, no forward-looking statement can be guaranteed. Hudson City does not intend to update any of the forward-looking statements after the date of this release or to conform these statements to actual events.

SOURCE Hudson City Bancorp, Inc.



Source: PR Newswire (January 14, 2008 - 11:47 AM EST)

News by QuoteMedia

[*MARINE 1*]

will do tnx

[Heedapeeker™]

Take a peek at that CEO interview Cramer did last week (post #9), very interesting. It reminds me of a bank I worked for that's similar to this (Southern National Bank of NC, headed up by Glen Orr) which got swallowed up by BB&T. Not saying that will happen here, but its possible!

[*MARINE 1*]

The article caught my eye yesterday so I decided to look into it this morning. So far my year's been really good so adding Hudson city to the mix might be a good deal.



Good luck on the board:)

[Heedapeeker™]

Thanks for posting that PR! I was just catching up on my haunts this morning because I actually had some work to do yesterday (I hate when that happens).

2008 looks promising for HCBK. This and CPST are putting some nice green spots on my streamers!

BTW, Welcome to the HCBK board!

[*MARINE 1*]

Did you notice yesterday:

Forbes Names Hudson City The Best-Managed Bank of the Year
PARAMUS, N.J., Jan. 7 /PRNewswire-FirstCall/ -- Hudson City Bancorp, Inc. ('Hudson City') (Nasdaq: HCBK), the largest savings bank headquartered in New Jersey and the second largest thrift in the United States, was named The Best-Managed Bank of 2007. According to Forbes, 'Revenue has grown an average 17% over the past five years. Hudson City's stock, up 22% over the past three years, easily beat its fellow thrifts, down 23%.'

'Hudson City is running on all cylinders,' said Ronald E. Hermance, Jr., Chairman, President and Chief Executive Officer of Hudson City. 'Total assets for the Bank have consistently grown from $8.5 billion to over $42 billion since first going public in 1999. Our residential mortgage lending grew at a compounded annual rate of 24% over the same time period. At Hudson City, the average deposits per branch of $124 million are 80% higher than the national average of $69 million of FDIC insured banks. The growth-rate in our new geographic markets, known as some of the most lucrative markets in the country, has exceeded our expectations. We anticipate additional growth in these new areas and our existing markets as we continue to be the lowest cost provider in the country. This is achieved with an efficiency ratio of 25.6%, better than half the national average. In addition, recent reports rank our mortgage quality in the top one percent among the largest mortgage lenders.' said Hermance.

According to Forbes, 'Unlike at some other regional banks, Chief Executive Ronald Hermance Jr. ignored the call of exotic loans to people with subpar credit. Instead, he and Hudson City stuck to making 'jumbo' prime loans that have been their bread and butter for years. . . That proves a strong incentive to underwrite responsibly, and it shows: Nonperforming assets are just 0.26%, compared with 1.65% at the nation's largest thrift. . . .'

Hudson City's performance has not gone unnoticed by Wall Street. In February, Hudson City was added to the S&P 500 Index. It also received top rankings in the Wall Street Journal's 2007 Annual Shareholder Performance Scoreboard. The Wall Street Journal cited Hudson City as the number two bank in the country as ranked by a five-year average return of 30.29%. The New York Times has recognized Hudson City's strong performance as well. On September 25, 2007, Hudson City was cited as the top-performing bank in the S&P 500 over the past year with a 15.6% return.

Hudson City Savings Bank, among the top fifty banks in the United States by asset size, is recognized as The Most Efficient Bank in the country. This enables Hudson City to deliver significant values to customers in the form of higher deposit yields, competitive mortgage rates, and lower fees. Hudson City, the largest savings bank headquartered in New Jersey, also serves customers throughout the surrounding metropolitan area with branches located in Westchester, Fairfield, Putnam, and Rockland counties, as well as in Long Island, Staten Island, and the New Jersey suburbs of Philadelphia. Deposit accounts at Hudson City are FDIC insured to the maximum allowed by law.

This release may contain certain 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, and may be identified by the use of such words as 'may,' 'believe,' 'expect,' 'anticipate,' 'should,' 'plan,' 'estimate,' 'predict,' 'continue,' and 'potential' or the negative of these terms or other comparable terminology. Examples of forward-looking statements include, but are not limited to, estimates with respect to the financial condition, results of operations and business of Hudson City Bancorp that are subject to various factors which could cause actual results to differ materially from these estimates. Any or all of the forward-looking statements in this release and in any other public statements made by Hudson City may turn out to be wrong. They can be affected by inaccurate assumptions Hudson City might make or by known or unknown risks and uncertainties. Consequently, no forward-looking statement can be guaranteed. Hudson City does not intend to update any of the forward-looking statements after the date of this release or to conform these statements to actual events.

SOURCE Hudson City Bancorp, Inc.



Source: PR Newswire (January 7, 2008 - 2:45 PM EST)

News by QuoteMedia
www.quotemedia.com

[SeriousStockStoke]

Link for Cramer interview with HCBK CEO

http://www.cnbc.com/id/22489316/?__source=yahoo%7Cheadline%7Cquote%7Ctext%7C&par=yahoo

Hope that works. I didn't get to watch it yet cause I still have dial-up internet lol. Yeah, I know I should stop being cheap and switch to cable already lol. However, I don't have to watch the interview to know that this company knows how to lend money.
An average of 40% required for a downpayment. Now that's the way you run a bank!!!!


Booyah!!!!! Ready to board this baby once there is blood in the streets and the fear is at its max.

Just sittin in cash & gold and waiting patiently.............

[Heedapeeker™]

Hi Serious,

I didn't find anything on the last night's CEO interview at Cramer's site today. Unusual to say the least.

Regards,
Heed

[Heedapeeker™]

Hudson City Bancorp, Inc. Announces Earnings Release Date
PARAMUS, N.J., Jan. 4 /PRNewswire-FirstCall/ -- Hudson City Bancorp, Inc. (Nasdaq: HCBK), the holding company for Hudson City Savings Bank, will report the results of operations for the quarter ended December 31, 2007 on Wednesday, January 23, 2008. The earnings release, detailing the results of operations and financial condition of Hudson City Bancorp, will be issued prior to the opening of equity markets on that date.

Hudson City Bancorp maintains its corporate office in Paramus, New Jersey. Its wholly owned subsidiary, Hudson City Savings Bank, is a well-established community banking institution with a long-standing tradition of service excellence. Hudson City is recognized as one of the most efficient banks in the country, which enables it to deliver significant values to customers in the form of competitive deposit yields and mortgage rates, lower closing fees and a straight-forward, streamlined mortgage process. Hudson City is ranked in the top fifty U.S. financial institutions by asset size and currently operates a total of 119 branch offices in the New York metropolitan area. Deposit accounts at Hudson City are FDIC-insured to the maximum allowed by law.

SOURCE Hudson City Bancorp, Inc.



Source: PR Newswire (January 4, 2008 - 11:57 AM EST)

[SeriousStockStoke]

Thanks for the Welcome.

Hudson City is one of the last few lenders that requires a down payment. Lending traditionally like that makes walking away from a mortgage more painful for borrowers because they have something to lose; their downpayment lol. It's a shame that so many other lenders strayed from this traditional approach because it is seriously biting them on the ass now along with their shareholders lol. I was holding onto some Wachovia, but I had to ditch it. There is much more pain to come for that bank because they acuired a California lender (Golden West) right at the height of the business cycle. We all know how bad the housing market is in California. What a bunch of retards right? I would love to see Ken Thompson giving the ax because Wachovia does have some positive aspects, they just need a change in management.

I have no intention of buying any of the banks right now because it is absolutely nuts out there, and no one knows who owns what right now. However, as I said, if HCBK gets unfairly punished and drops to my price of $13.50 I'll be starting a position. Honestly, I don't think the financial sector will calm down until sometime during the second or third quarter.


Best of Luck and again thanks for the welcome

[Heedapeeker™]

Any dips below my entry and I’ll average down.

Cramer did an interview with the CEO, Ronald Hermance, on Mad Money tonight. I was impressed with the guy, he had a convincing spiel. If only half of what the he said is true I don’t think many people are going to walk away from the type of loans he makes.

If there’s a recap of the Cramer interview on his site tomorrow, I’ll post a link to it.

BTW, welcome to the board and thanks for posting. I was beginning to think I started a personal diary.

[SeriousStockStoke]

$13.50 is the sweet spot with HCBK.

The $BKX is a mess right now obviously, however if this small responsible lender (HCBK)retraces back to $13.50 I'll be a buyer.
However, I'm keeping an eye on their allowance for loans losses. Even though their delinquencies have remained low, they haven't provisioned enough for losses and that could hurt them if non-performing loans were to suddenly increase. I really like this bank though, along with WFC and USB. When we finally hit a bottom in the $BKX these three will be the ones I'll be looking to for value.


Best of Luck

[Heedapeeker™]

Jumped in at EOD today.

First buy @ $14.17.

GL to me LOL!

[Heedapeeker™]

CAUTION: This company was pumped on Mad Money tonight. So if you're not in it, but you're thinking about buying it, you may want to wait a 2 or 3 days for the flippers to exit.

[Heedapeeker™]

This board (iBox) is Under Construction!