HCBK (MM)

Notes to Financial Statements

December 31, 2013 and 2012

The following plan information provides only a general description of the provisions of the Profit Incentive Bonus Plan of Hudson City Savings Bank (the “Plan”). The Summary Plan Description or Plan Document should be referred to for a more complete description of the Plan’s provisions.

The Plan is a participant-directed, defined contribution profit-sharing plan sponsored by Hudson City Savings Bank (the Bank) under the provisions of Section 401(a) of the Internal Revenue Code (the IRC), which includes a qualified cash or deferred arrangement as described in Section 401(k) of the IRC, for the benefit of eligible employees of the Bank. It is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA).

A full-time employee becomes eligible to participate on the first of the month following the third month of his or her employment if he or she is at least 21 years old. A part-time employee becomes eligible to participate upon attaining the minimum age of 21, is employed a minimum of three months, and meets the eligibility rule of 1,000 work hours in one anniversary year, as defined.

On August 27, 2012, the Hudson City Bancorp, Inc. (the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) with M&T Bank Corporation (“M&T”) and Wilmington Trust Corporation (“WTC”). The Merger Agreement provides that, upon the terms and subject to the conditions set forth therein, the Company will merge with and into WTC, with WTC continuing as the surviving entity.

On April 12, 2013, M&T and the Company announced that additional time would be required to obtain a regulatory determination on the applications necessary to complete the proposed Merger. On April 13, 2013, M&T and the Company entered into Amendment No. 1 to the Merger Agreement. Amendment No. 1, among other things, extended the date after which either party may elect to terminate the Merger Agreement from August 27, 2013 to January 31, 2014. On December 17, 2013, M&T and the Company announced that they entered into Amendment No. 2 (“Amendment No. 2”) to the Merger Agreement. Amendment No. 2 extends the date after which either party may terminate the Merger Agreement if the Merger has not yet been completed from January 31, 2014 to December 31, 2014, and provides that the Company may terminate the Merger Agreement at any time if it reasonably determines that M&T is unlikely to be able to obtain the requisite regulatory approvals in time to permit the closing to occur on or prior to December 31, 2014. While M&T and the Company extended the date after which either party may elect to terminate the Merger Agreement from January 31, 2014 to December 31, 2014, there can be no assurances that the Merger will be completed by that date or that the Company will not exercise its right to terminate the Merger Agreement in accordance with its terms. The impact of the Merger on the Plan has yet to be determined.

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PROFIT INCENTIVE BONUS PLAN OF

HUDSON CITY SAVINGS BANK

Notes to Financial Statements

December 31, 2013 and 2012

The Plan maintains an account for each participant. Participants can elect to receive the Bank’s profit-sharing bonus in cash and/or defer it into the Plan. Each participant is fully vested in participant contributions. Non-elective employer contributions vest at the rate of 20% per year until fully vested after five years. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account balances.

Forfeitures are applied to reduce the Plan’s administrative expenses. In 2013, $3,555 of forfeitures was used to offset the plan’s administrative expenses. In 2012, no forfeitures were used to reduce the plan’s administrative expenses. At December 31, 2013 and 2012, there were $68 and $3,499, respectively, of forfeitures that were available to reduce the Plan’s future administrative expenses.

Each participant’s account is credited with the respective contribution and an allocation of plan earnings and charged with an allocation of administrative expenses. Allocations are based on participant earnings or account balances, as defined.

The Human Resources and Benefits Committee, as appointed by the Board of Directors of the Plan Sponsor, is responsible for administering Plan operations. The Committee is named fiduciary, which has the authority to control and manage the operation and administration of the Plan. In addition, they have authority over the Plan’s investments.

Participants are eligible to make pre-tax and after-tax personal contributions to the Plan. The amount contributed may not exceed 60% of compensation for the payroll period, as defined, subject to certain limitations. Total pre-tax contributions may not exceed the Internal Revenue Service annual limit, which was $17,500 for 2013 and $17,000 for 2012. Participants age 50 or over may contribute an additional tax-deferred contribution subject to an annual limit of $5,500 for both 2013 and 2012.

The Bank may allow participants to enter into a special contribution agreement to make contributions up to 100% of cash bonuses paid on a uniform and non-discriminatory basis that are made for such participants during the Plan Year.

Participants in the Plan may designate the funds into which their contribution shall be invested. A participant may transfer a portion of his or her account balance among the funds as outlined in the Plan.

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PROFIT INCENTIVE BONUS PLAN OF

HUDSON CITY SAVINGS BANK

Notes to Financial Statements

December 31, 2013 and 2012

Participants may make rollover contributions to the Plan, which represent distributions from a qualified IRA or other qualified plan.

The Plan provides for automatic escalating enrollment for all new participants. If an employee meets the Plan’s eligibility requirements, automatic enrollment begins at a pre-tax contribution rate of 3% of eligible compensation, as defined in the Plan Document. Employees may elect to opt out of the automatic enrollment, or they may opt out of or change the percentage of the automatic escalating contribution option at any time.

Each participant may direct his or her account into one or more of 22 investment options offered by the Plan or in the Hudson City Bancorp, Inc. Common Stock Fund, a self-directed investment option. The Plan allows participants to change their investment election at any time unless restrictions are placed on a specific fund. In addition, the Plan allows participants to change their contribution percentage at any time.

Under the terms of the agreement with the Bank, participants and/or beneficiaries are eligible for payments following termination of employment for any reason, including death or disability. These payments can be made either in a lump-sum distribution or in equal annual installments over a period not to exceed 15 years. If the vested balance of a participant’s account balance is $5,000 or less, payment will be made in a lump-sum distribution. Subject to such terms and conditions as may be established from time to time by the plan administrator, participants may elect to receive shares of Hudson City Bancorp common stock, which are held in the Hudson City Bancorp, Inc. Common Stock Fund. Participants may receive either the entire portion of their interest in the Hudson City Bancorp, Inc. Common Stock Fund in shares of Hudson City Bancorp common stock, in cash, or part in shares and part in cash. The maximum number of shares of Hudson City Bancorp common stock that they may receive will be the number of whole shares attributable to their interest in the Hudson City Bancorp, Inc. Common Stock Fund. Any remaining amount distributed will be paid in cash.

During employment, a participant may make withdrawals of all or certain portions of his or her vested account balance, subject to certain restrictions as set forth in the Plan Document. Certain withdrawals, such as hardship withdrawals, preclude the participant from making further contributions or withdrawals under the Plan for six months after the receipt of the distribution.

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PROFIT INCENTIVE BONUS PLAN OF

HUDSON CITY SAVINGS BANK

Notes to Financial Statements

December 31, 2013 and 2012

The accompanying financial statements of the Plan have been prepared on the accrual basis of accounting and present the net assets available for benefits and the changes in those net assets, in accordance with U.S. Generally Accepted Accounting Principles.

The Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures, defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements.

The Plan uses fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. The Plan did not have any liabilities that were measured at fair value at December 31, 2013 or 2012. The Plan’s investments are recorded at fair value on a recurring basis. Additionally, from time to time, the Plan may be required to record at fair value other assets or liabilities on a non-recurring basis.

In accordance with ASC Topic 820, the Plan groups its assets at fair value in three levels, based on the markets in which the assets are traded and the reliability of the assumptions used to determine fair value. These levels are:

The Plan bases its fair values on the price that would be received to sell an asset in an orderly transaction between market participants at the measurement date. ASC Topic 820 requires the Plan to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

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PROFIT INCENTIVE BONUS PLAN OF

HUDSON CITY SAVINGS BANK

Notes to Financial Statements

December 31, 2013 and 2012

The Plan’s mutual fund investments are stated at net asset value which represents the fair value of the securities held in such funds and quotes are readily available. The investment in Hudson City Bancorp, Inc. Common Stock Fund is comprised of the Hudson City Bancorp common stock and money market fund, and is valued at estimated fair value, which is determined based on the unit value of the fund. The unit value of the fund is determined by Fidelity Management Trust Company (the “Trustee”), which is sponsoring the fund by dividing the fund’s net assets at fair value by its units outstanding at the valuation date. Securities transactions are recognized on the trade date (the date the order to buy or sell is executed).

As described in ASC Topic 946-210-45-9, Fully Benefit-Responsive Investment Contracts , investment contracts held by a defined contribution plan are required to be reported at fair value. The Plan’s investment in the Fidelity Advisor Stable Value Portfolio Class I Fund (“Stable Value Fund”) is deemed to be fully benefit-responsive. The fair value of fully benefit-responsive investment contracts in the Stable Value Fund is calculated using a discounted cash flow model, which considers recent fee bids as determined by recognized dealers, discount rate and the duration of the underlying portfolio securities. The contract value represents contributions plus earnings, less participant withdrawals and administrative expenses.

The assets of the Plan are primarily financial instruments, which are monetary in nature. As a result, interest rates have a more significant impact on the Plan’s performance than the effects of general levels of inflation. Interest rates do not necessarily move in the same direction or in the same magnitude as the prices of goods and services as measured by the consumer price index. Investments in funds are subject to risk conditions of the individual mutual fund objectives, stock market, interest rates, economic conditions and world affairs. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the statement of net assets available for plan benefits. Investment in the Hudson City Bancorp, Inc. Common Stock Fund amounted to $30,130,649 and $28,452,493 at December 31, 2013 and 2012, respectively. This represents 40.7% and 44.1% of total investments at December 31, 2013 and 2012, respectively.

Benefits are recorded when paid.

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PROFIT INCENTIVE BONUS PLAN OF

HUDSON CITY SAVINGS BANK

Notes to Financial Statements

December 31, 2013 and 2012

In preparing the Plan financial statements in conformity with U.S. generally accepted accounting principles, estimates and assumptions have been made relating to the reporting of assets and liabilities and changes therein, and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.

Management has evaluated events and transactions through the date these financial statements were issued and determined that no additional disclosure or adjustments were necessary.

There were no Plan amendments during the years 2013 and 2012.

The Plan has adopted an approved prototype plan, which received an Internal Revenue Service (“IRS”) determination letter dated March 31, 2008, which stated that the Plan and its underlying trust qualify under the applicable provisions of the Internal Revenue Code (the “IRC”), and therefore are exempt from federal taxes. The Plan has been amended since receiving the determination letter. However, the Plan Administrator and the Plan’s tax counsel believe that the Plan is designed and operated in compliance with the applicable requirements of the IRC.

U.S. generally accepted accounting principles require plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan Administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2013 and 2012, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The Plan Administrator believes it is no longer subject to income tax examinations for the years prior to 2008.

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PROFIT INCENTIVE BONUS PLAN OF

HUDSON CITY SAVINGS BANK

Notes to Financial Statements

December 31, 2013 and 2012

Although it has not expressed an intention to do so, the Bank has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of plan termination, participants will become 100% vested in their accounts. The impact of the Merger on the Plan has yet to be determined.

Plan fees and expenses, including fees and expenses incurred in providing administrative services by external service providers, are paid from Plan assets. In 2013, forfeitures of $3,555 were used to offset Plan expenses (none in 2012). Expenses paid by the Plan include recordkeeping and trustee’s fees. However, investment management and audit services are paid by the Plan Sponsor. Expenses incurred by the funds, including investment management fees paid to the advisor of those funds, are reflected in the net asset value of the funds and included in net realized gains (losses) and changes in net unrealized appreciation in fair value of investments.

A participant, in case of need, may apply to the plan administrator for a loan in an amount equal to or less than 50% of the vested account balance, from a minimum of $1,000 up to a maximum of $50,000. The loans are secured by the participant’s account. The period of repayment shall not exceed five years unless the loan is to be used in conjunction with the purchase of the principal residence of the participant, in which case the period shall not exceed ten years.

Interest is charged at a commercially reasonable rate, with all interest on loans being paid back into the borrower’s plan account. Principal and interest is paid ratably through payroll deductions. As of December 31, 2013, the interest rates on these loans ranged from 4.25% to 8.50%, with maturities ranging from April 28, 2014 through April 30, 2019.

Certain Plan investments are shares of mutual funds managed by an affiliate of the Trustee, Fidelity Investment International Operations Company, Inc. (Fidelity). Fidelity is also the recordkeeper. In addition, the Plan invests in shares of common stock issued by the Company. Therefore, these transactions qualify as party-in-interest transactions. Fees paid to the Trustee and affiliates of the Trustee amounted to approximately $42,700 and $30,000 for the years ended December 31, 2013 and 2012, respectively.

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PROFIT INCENTIVE BONUS PLAN OF

HUDSON CITY SAVINGS BANK

Notes to Financial Statements

December 31, 2013 and 2012

Individual investments in excess of 5% of the fair value of net assets available for benefits at December 31, 2013 and 2012 are as follows:

For the years ended December 31, 2013 and 2012, the Plan’s net realized gains (losses) and changes in unrealized appreciation in fair value of investments is as follows:

The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

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The following table presents the Plan’s fair value hierarchy for those investments measured at fair value at December 31, 2012:

The following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2013 and 2012.

Mutual funds: the mutual funds are recorded at net asset value which represents the fair value of the securities held in such funds and quotes are readily available. There are no restrictions on redemptions.

Stable Value Fund: the Stable Value Fund invests primarily in fully benefit responsive investment contracts issued by insurance companies, banks and other financial institutions, and other authorized instruments. The fair value of fully benefit-responsive investment contracts is calculated using a discounted cash flow model, which considers recent fee bids as determined by recognized dealers, discount rate and the duration of the underlying portfolio securities.

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PROFIT INCENTIVE BONUS PLAN OF

HUDSON CITY SAVINGS BANK

Notes to Financial Statements

December 31, 2013 and 2012

Hudson City Bancorp, Inc. Common Stock Fund: The fair value of the Hudson City Bancorp, Inc. Stock Fund is based on the combined year end closing price of Hudson City Bancorp, Inc. common stock and monies held in a Fidelity money market fund used to meet daily liquidity needs. Both securities are valued based on the quoted market price of shares trading in active markets held by the Plan at year end. The Hudson City Bancorp, Inc. Common Stock Fund is tracked on a unitized basis, which allows for daily settling of trades by participants.

The Plan had no transfers of investments between Levels 1 and 2 classifications during the years ended 2013 and 2012. Also, the Plan held no Level 3 investments during the years ended 2013 and 2012.

The Plan is invested in the Fidelity Advisor Stable Value Class I Fund (the “Fund”), a common/collective trust that invests primarily in fully benefit responsive investment contracts issued by insurance companies, banks and other financial institutions, and other authorized instruments, which are benefit responsive.

The fair value of the Fund is calculated by applying the Plan’s ownership interest in the Fund to the total reported net asset value at fair value of the Fund at the end of the reporting period. The underlying assets owned by the Fund primarily consist of fixed income securities, asset-backed securities and synthetic guaranteed investment contracts (“wrap contracts”). The fair values of fixed income securities and asset-backed securities are based on the values of the underlying debt securities, which are valued using quoted prices on similar assets (Level 2 inputs). The wrap contracts are fair valued using a discounted cash flow model that considers recent fee bids as determined by recognized dealers, the appropriate discount rate, and the duration of the underlying portfolio securities.

The Plan’s investment in the Fund, which is a stable value pooled fund and carries a “benefit responsiveness” feature that allows plan participants to make exchanges or request benefit payment at contract value. The Fund satisfies the requirements to be “fully benefit-responsive” investment contract and is eligible for contract value accounting treatment prescribed by ASC Subtopic 962-325 “Investments – Other”, which requires that fully benefit-responsive investment contracts held in a defined-contribution plan be reported at fair value. However, contract value is the relevant measurement attribute for that portion of the net assets available for benefits of a defined-contribution plan attributable to fully benefit-responsive investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under terms of the Plan. The Statement of Net Assets Available for Benefits presents the fair value of these investment contracts as well as their adjustment from fair value to contract value. The Statement of Changes in Net Assets Available for Benefits is prepared on a contract value basis.

The average market yield earned by the Fund was 1.76% for 2013 and 1.74% for 2012.

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PROFIT INCENTIVE BONUS PLAN OF

HUDSON CITY SAVINGS BANK

Notes to Financial Statements

December 31, 2013 and 2012

The following is a reconciliation of the financial statements to the Form 5500 at December 31, 2013 and 2012:

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