While you are correct about the initial public offering, there were no splits after the last $10/share offer in 2005. Any bank customer who bought at that time and held was not well served by management.
Hernance blew it with his greedy strategy of borrowing from Federal Home Loan Bank and thinking he could use that money to make higher interest mortgage loans/other in\vestments. He highly leveraged the bank and, in the end, destroyed it after a 140+ year history.
Hudson. Was a mutual savings bank for the 1st 100 years. And the strategy of borrowing from the fhlb was good until regulators stopped it. The only reason to buy the stock is greed u want to make money
The bank has done a poor job of running it's affairs that's why it's being bought at a discount to book as opposed to MTB which is trading nears its highs and above book value. If you've owned the stock for all that time congrats, but I think at this point a few people feel it was a poor showing. Don't forget Hermance sold a huge chunk of his stock several years back at higher prices and never bought back a share.