OREANDA-NEWS. M&T Bank Corporation (NYSE: MTB) (“M&T”) announced today that it completed its acquisition of Hudson City Bancorp, Inc. (NASDAQ: HCBK) (“Hudson City”). Effective November 1, 2015, Hudson City merged into a subsidiary of M&T and Hudson City Savings Bank merged into M&T Bank.  

The acquisition of Hudson City adds approximately $19 billion in loans, and expands M&T’s franchise by 135 branches, which are located in New Jersey (97 branches), downstate New York (29 branches) and Fairfield County, Connecticut (9 branches), along with 123 ATMs. M&T now operates more than 800 retail and commercial branches and 1,600 ATMs in eight states and the District of Columbia.

Hudson City’s branches will continue to operate under the Hudson City name, as a division of M&T Bank, until they are converted to M&T’s network, which is expected to occur in the first quarter of 2016. Customers will receive additional information before their accounts and branches are converted to M&T’s network.  

“We now have a tremendous opportunity to build on Hudson City’s rich 147-year-old tradition of customer and community service, and to expand M&T’s community-focused banking model to new markets and new customers,” said Robert G. Wilmers, Chairman and CEO of M&T.

“M&T is a bank with a long and successful history under the leadership of Bob Wilmers. They will bring to our customers and the communities we serve many additional products and services. Our customers will see these positive changes and quickly realize that M&T possesses the same character and culture of integrity and customer care they were accustomed to at Hudson City,” said Denis J. Salamone, Chairman and Chief Executive Officer of Hudson City. Upon closing of the transaction, Mr. Salamone joined the M&T and M&T Bank Boards of Directors.