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UPDATE: M&T Bank Corporation Receives Approval for Hudson City Bancorp Merger

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Hudson City Bancorp, Inc. (NASDAQ: HCBK) ("Hudson City") and M&T Bank Corporation (NYSE: MTB) ("M&T") announced today that M&T has received regulatory approval from the Federal Reserve to complete the merger with Hudson City. 

The transaction is expected to be completed on or about November 1, 2015, pending approval by the New York State Department of Financial Services and the satisfaction of customary closing conditions. 

"At M&T, we are deeply committed to the success of the customers and communities we serve, and we look forward to the opportunity to bring that strong commitment to Hudson City's markets," said Robert G. Wilmers, M&T Chairman and CEO.  "M&T also brings a wider array of banking solutions and services.  As a thrift, Hudson City focused primarily on deposits and mortgages.  M&T will create a comprehensive banking franchise that provides a full range of checking and savings accounts, debit and credit cards, home equity and other lending options, investment and insurance services, small business and commercial banking services as well as our renowned wealth management and corporate trust solutions through Wilmington Trust."

"In 2012, Hudson City developed a strategic plan to transform into a community

See full press release

 

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