Hudson City Sees Takeover Targets ; Ceo Eyes Fla. For a Bank Acquisition

Summary

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Hudson City Bancorp, the largest bank based in New Jersey, is a leading candidate to buy a smaller bank this year, and is even considering deals 1,000 miles away, including lenders near collapse that could go cheap.

Chairman and Chief Executive Officer Ron Hermance has been telling investors and analysts that he is looking at possible takeover targets and is especially interested in Florida, where many of his tri-state area customers have second homes and where he already has a customer base of online depositors.

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Hudson City Sees Takeover Targets ; Ceo Eyes Fla. For a Bank Acquisition

Hudson City's management "considers Florida particularly attractive," Bob Ramsey, bank analyst at FBR Capital Markets, said in a recent note to investors. The state has "so...

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