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Hudson City Bancorp, Inc. Message Board

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  • postacct2000 postacct2000 Dec 27, 2005 4:30 PM Flag


    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.

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