Hudson City Bancorp Inc.
Hudson City Bancorp Inc. is the holding company for the largest U.S. savings and loan, Hudson City Savings Bank. The Paramus, N.J., retail savings bank also buys mortgages and mortgage-backed securities and other securities issued by U.S. government-sponsored enterprises. It has more than 125 branches in New York, New Jersey and Connecticut.
The company has a reputation as a well-managed bank with a conservative culture. Known as a jumbo mortgage specialist focused on profitable loans, this focus helped it largely sidestep troubled subprime mortgages. The bank is cash-rich and well-positioned to take market share from rivals. Even so, it remains to be seen how its bottom line withstands fallout from layoffs among its affluent customers in the New York region.