PARAMUS, N.J., Feb. 27, 2015 /PRNewswire/ -- Hudson City
Bancorp, Inc. (NASDAQ: HCBK), the holding company for Hudson City
Savings Bank (the "Bank"), announced today that the Office of the
Comptroller of the Currency ("OCC") has terminated the memorandum
of understanding ("MOU") entered into with the Bank on March 30, 2012.
Denis J. Salamone, Chairman and
Chief Executive Officer commented, "We are pleased that the OCC has
terminated the MOU. This achievement reflects the hard work and
determination of the Hudson City staff. In the course of
satisfying the terms of the MOU, the Bank, among other things,
developed a state-of-the-art enterprise risk management department
as part of a "three lines of defense" organizational structure and
implemented enhanced risk management policies, procedures and
systems. We believe these accomplishments, along with our
strong ethical corporate culture, provide Hudson City with the
necessary governance structure and risk management framework to
meet the challenges facing all financial institutions in this
current environment."
Hudson City Bancorp, Inc. maintains its corporate offices in
Paramus, New Jersey. Hudson City
Savings Bank, a well-established community financial institution
serving its customers since 1868, is the largest thrift institution
headquartered in New Jersey. Hudson City Savings Bank
currently operates a total of 135 banking offices in the
New York metropolitan and
surrounding areas.
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SOURCE Hudson City Bancorp, Inc.