Ronald E. Hermance Jr. Elected to Board of Directors, The Federal Home Loan Bank of New York
November 17 2004 - 10:39AM
PR Newswire (US)
Ronald E. Hermance Jr. Elected to Board of Directors, The Federal
Home Loan Bank of New York PARAMUS, N.J., Nov. 17
/PRNewswire-FirstCall/ -- Ronald E. Hermance Jr., President and
CEO, Hudson City Bancorp Inc. and Hudson City Savings Bank, has
been elected to the Board of Directors of the Federal Home Loan
Bank of New York by its member institutions in New Jersey. The
Federal Home Loan Bank of New York, one of the 12 regional Home
Loan Banks, serves over 300 community lenders headquartered in New
Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The
Federal Home Loan Bank of New York is part of the congressionally
chartered, nationwide Federal Home Loan Bank System, which was
created in 1932 to provide a flexible credit source for community
lenders. Ronald E. Hermance Jr. has a 16-year tenure with Hudson
City Savings Bank. He joined the Bank in 1988 as Senior Executive
Vice President, Chief Operating Officer, and was duly elected to
the Board of Directors. In 1997, he became the eleventh President
in the Bank's 136-year history and was promoted to Chief Executive
Officer in January 2002. Hudson City Bancorp, the parent company of
Hudson City Savings Bank, the largest savings bank headquartered in
New Jersey, also serves customers throughout metropolitan New York
and Philadelphia. Since going public in 1999, its assets have grown
from $8.5 billion to almost $20 billion without making an
acquisition, earning it a top spot among the Fastest-Growing
Companies in the New York metro area by Crain's Business New York.
Its success has been recognized nationally by such publications as
Forbes, BusinessWeek, and The Wall Street Journal. In fact,
American Banker, the leading industry magazine, has consistently
named Hudson City one of the Most Efficient Banks in the United
States. Mr. Hermance, an active member within his community, serves
on five Boards. He resides in Ridgewood, New Jersey, with his wife
Kris and three children. Hudson City Savings Bank is a
well-established community banking institution with a long-standing
tradition of service excellence. Hudson City is recognized as one
of the most efficient banks in the country, which enables it to
deliver significant values to customers in the form of higher
deposit yields, competitive mortgage rates, lower closing fees and
a straightforward, streamlined process. Hudson City, the largest
savings bank headquartered in New Jersey, also serves customers
throughout metropolitan New York and Philadelphia. Deposit accounts
at Hudson City are FDIC insured to the maximum allowed by law.
DATASOURCE: Hudson City Savings Bank CONTACT: Ralph Weeks,
+1-201-987-1900, ext. 1352, or Lynn La Sala, +1-201-670-7600, both
for Hudson City Savings Bank Web site:
http://www.hudsoncitysavingsbank.com/
Copyright