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