Hudson City Bancorp reports fourth-quarter net income of $137 million
Hudson City Bancorp (HCBK) on Wednesday reported fourth-quarter net income of $137 million, or 28 cents a share, matching the consensus estimate of analysts polled by Thomson Reuters. Hudson City earned $135 million, or 27 cents a share, the previous quarter and $124 million, or 25 cents a share, during the fourth quarter of 2008.
Earnings for all of 2009 were $527 million, or $1.07 a share, increasing from $446 million, or 90 cents a share, for 2008. Hudson City’s return on average assets for 2009 was 0.92% and its return on average equity was 10.18%, increasing from 0.91% and 9.36% in 2008, according to SNL Financial. Net loan charge-offs totaled $47 million during 2009, up from $4.4 million in 2008, and the company built reserves through the year, setting aside loan loss provisions of $138 million.