Hudson City Earns 12 Cents Per Share

It’s almost irrelevant at this point, but Hudson City ($HCBK) reported third-quarter earnings of 12 cents per share which was two cents below expectations. No matter. M&T is still going through with the merger plans.

Hudson City Bancorp, Inc., the holding company for Hudson City Savings Bank (the “Bank”), reported today net income of $55.9 million for the quarter ended September 30, 2012 as compared to net income of $84.2 million for the quarter ended September 30, 2011. Diluted earnings per share amounted to $0.11 for the third quarter of 2012 as compared to diluted earnings per share of $0.17 for the third quarter of 2011. Included in the 2012 third quarter earnings was $6.1 million of expenses related to the previously announced merger with M&T Bank Corporation (“M&T”). Operating earnings for the third quarter of 2012, which excludes merger-related expenses, amounted to $59.6 million or $0.12 per diluted share (non-GAAP measures).

HCBK will also pay out another dividend of eight cents per share. The stock is currently up this morning.

Posted by on October 24th, 2012 at 9:55 am


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