BUFFALO, N.Y., Oct. 9, 2015 /PRNewswire/ -- M&T Bank
Corporation (NYSE: MTB) ("M&T") announced today that it has
received approval from the New York
State Department of Financial Services to complete the
merger of M&T Bank with Hudson City Savings Bank as part of its
acquisition of Hudson City Bancorp, Inc. (NASDAQ: HCBK)
("Hudson City").
The transaction, which has already been approved by the Federal
Reserve and shareholders of both companies, is expected to be
completed on or about November 1,
2015 pending the satisfaction of customary closing
conditions.
Election materials were mailed on September 30, 2015 to holders of record of
Hudson City common stock at the
close of business on September 21,
2015. Shareholders of Hudson City have until 5:00 p.m., Eastern Daylight Time, on Friday, October 30, 2015 to elect the form of
consideration they wish to receive in the transaction.
Shareholders with questions regarding the election materials
or who wish to obtain copies of the election materials should
contact Georgeson, the Information Agent for the merger, at
866-482-5026.
About Hudson City Bancorp, Inc.
Hudson City is a Delaware corporation organized in 1999 and
serves as the holding company of its only subsidiary, Hudson City
Savings Bank. Hudson City Savings Bank conducts its
operations out of its corporate offices in Paramus in Bergen
County, New Jersey and through 135 banking offices in the
New York metropolitan area.
About M&T Bank Corporation
M&T is a financial
holding company headquartered in Buffalo, New York. M&T's principal
banking subsidiary, M&T Bank, operates banking offices in
New York, Pennsylvania, Maryland, Virginia, West
Virginia, Delaware and the
District of Columbia. Trust-related services are provided by
M&T's Wilmington Trust-affiliated companies and by M&T
Bank.
Forward-Looking Statements
This release may contain
certain "forward looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995 that are based on
certain assumptions and describe future plans, strategies and
expectations of Hudson City and
M&T. Such forward-looking statements may be identified by
the use of such words as "may," "believe," "expect," "anticipate,"
"should," "plan," "estimate," "predict," "continue," and
"potential" or the negative of these terms or other comparable
terminology. Examples of forward-looking statements include, but
are not limited to, estimates with respect to the financial
condition, results of operations and business of Hudson City and M&T, and their respective
strategies, plans, objectives, expectations, and intentions,
including the merger, and other statements contained in this
release that are not historical facts. Hudson City's and M&T's ability to predict
results or the actual effect of future plans or strategies,
including the merger and Hudson
City's implementation of its Strategic Plan, is inherently
uncertain and actual results and performance could differ
materially from those contemplated or implied by these
forward-looking statements. They can be affected by inaccurate
assumptions Hudson City and
M&T might make or by known or unknown risks and
uncertainties. Factors that could cause assumptions to be
incorrect include, but are not limited to, changes in interest
rates, general economic conditions, legislative, regulatory and
public policy changes, further delays in closing the merger and the
ability of Hudson City or M&T
to obtain regulatory approvals and meet other closing conditions to
the merger. These risks and uncertainties should be considered in
evaluating forward-looking statements and undue reliance should not
be placed on such statements. For a summary of important factors
that could affect Hudson City's
forward-looking statements, please refer to Hudson City's filings with the Securities and
Exchange Commission ("SEC") available at www.sec.gov. For a summary
of important factors that could affect M&T's forward-looking
statements, please refer to M&T's filings with the SEC
available at www.sec.gov. Neither Hudson City nor M&T intends to update any
of the forward-looking statements after the date of this release or
to conform these statements to actual events.
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SOURCE M&T Bank Corporation