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/

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