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Hudson City Bancorp, Inc. Message Board

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  • mrbone2000 mrbone2000 Aug 28, 2012 7:59 AM Flag

    tangible book value at 6-30-12 was $9.08

    The serious issue is that the clown in charge of the bank did not manage interest rate risk very well. It has nothing to do with the quality of their loan portfolio as the resident idiot on this board incessantly implied.
    The huge problem were the loans HCBK took from Federal Home Loan Bank a few years back. Those loans carry a higher interest rate than what the bank can get from their own mortgages/other investments . A terrible mistake by greedy Hernance that has now come to roost. He walks away with millions I'm sure while shareholders get shafted and NJ loses one of its oldest financial institutions. Just another son of a beech executive who destroys a fine company and walsk away scot free.

10.120.00(0.00%)Oct 30 4:00 PMEDT