Take a look at page 147 of the HCBK second step prospectus, if you have it around. OTS permission required for take over in first three years. Plus, OTS can ALWAYS reject a takeover transaction, citing public interest concerns. Regulated industry and all that. It's part of the "price" for FDIC insurance.
More importantly, HCBK hasn't yet deployed a good chunk of the $$ it raised in the conversion. Until it does so, purchaser would be buying a lot of unleveraged cash, which would command oh, about 100 cents on the dollar. PA2000