Hudson City
-
特色服务: 长期活动:
The year just past will be remembered as a period of extraordinary challenge and change for the banking industry. Financially, many watched helplessly as their hard-earned assets fell victim to plummeting financial markets and a recessionary economy. Others lost their jobs, their homes, or sadly both, while the rest of us were swept up by the uncertainties that such a volatile climate brings. Some of the oldest and most venerable institutions are now gone––liquidated or merged––victims of the recession, the housing market collapse, or the de-leveraging of financial companies and hedge funds.
2008 marked our tenth consecutive year of record earnings. 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. Our balance sheet remains strong, and our business continues to thrive even as the marketplace struggles. All of this came to pass while the rest of our industry sagged under the weight of misguided values and risky business practices fueled by imprudent optimism.
In December, Forbes magazine selected this Paramus, N.J., outfit as "the best-managed company in the banking industry. Hudson City is the only bank to receive this honor two years in a row. And if that wasn’t enough, Forbes also named Hudson City one of the best recession stocks. Forbes said, 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. 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.
Hudson City starts with the premise that banking customers want excellent service and convenience. At Hudson City, these attributes are coupled with high deposit yields, low fees, a straightforward streamlined loan process, and competitive mortgage rates. Hudson City’s industry leading efficiency, superior asset quality, and capital adequacy place the Bank in a unique position of providing better value to customers in the products and services that we offer.
For example, the Bank averages $158 million in deposits-per-branch compared to the national average of $71 million for FDIC-insured institutions. This is evidence of the trust and confidence that customers place in the Bank. As customers look for a safe haven from the turbulent markets, we have been able to attract them to our deposit products. We will continue to work hard to provide better values and earn our customer’s trust and confidence.
While Hudson City’s growth rate in assets has exceeded 20% over the last 10 years, we know our business must be carefully managed. As evidence of this priority, we have controlled costs better than any other large bank in the country. In fact, Hudson City has consistently been named The Most Efficient Bank in America––another name for being the nation’s low-cost provider. Our efficiency ratio in 2008 was more than 60% better than the average of the Nation’s 50 largest banks––that is 19.15% compared to an industry average efficiency ratio of 62.31% for banks and thrifts with assets over $10 billion. These cost savings enable us to provide some of the best values in the New York metropolitan area.
At Hudson City, our goal has always been simple. We will continue to succeed in the marketplace by providing better value, while remaining focused, efficient, loyal, and trustworthy. To some, this may sound simplistic or even naive, but time and time again, we’ve found that it’s a business model that is easier to describe than to replicate.
In these turbulent times, everything is subject to change except our core values––which have stood the test of time for more than a century. On behalf of the Board of Directors, management and staff of Hudson City, we thank you for your confidence. We will continue to lead the Bank in a way that makes you proud—with quality, passion, and integrity