SOURCE: Hudson City Bancorp

April 04, 2007 10:00 ET

Hudson City Receives Top Rankings in Wall Street Journal Annual Shareholder Scoreboard

PARAMUS, NJ -- (MARKET WIRE) -- April 4, 2007 -- Hudson City Bancorp, Inc. ("Hudson City") (NASDAQ: HCBK) received top rankings in shareholder return, according to the The Wall Street Journal's 2007 Annual Shareholder Performance Scoreboard.

The Wall Street Journal Scoreboard of 1,000 companies across 75 industry groups cited Hudson City as the #2 bank in the country for a 5-year average return of 30.29 percent. The total returns are compounded annually through year-end 2006.

"I am extremely proud of our fine organization and its superior performance for our shareholders, our customers and our community," said Ronald E. Hermance, Jr., Chairman, President and Chief Executive Officer of Hudson City.

As the third largest thrift in the U.S. and the largest savings bank in New Jersey, Hudson City has had an exceptional track record of growth. Its total assets have grown from $8.5 billion in 1999 to over $35 billion today. This represents a 23% compounded annual growth rate in assets, and reflects a 24% compounded annual growth rate in residential mortgage lending business from 1999 through December 2006.

Since the beginning of 2007, Hudson City was named to the Forbes Platinum 400 list of the "best of the biggest publicly traded companies in America," and has been selected for inclusion in the S&P 500 Index.

Hudson City Savings Bank, among the top fifty banks in the United States by asset size, is recognized as The Most Efficient Bank in the country. This enables Hudson City to deliver significant values to customers in the form of higher deposit yields, competitive mortgage rates, lower fees, and a straightforward, streamlined loan process. Hudson City, the largest savings bank headquartered in New Jersey, also serves customers throughout the surrounding metropolitan area with branches located in Westchester, Fairfield, Putnam, and Rockland counties, as well as in Long Island, Staten Island, and the New Jersey suburbs of Philadelphia. Deposit accounts at Hudson City are FDIC insured to the maximum allowed by law.

This release may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and may be identified by the use of such words as "may," "believe," "expect," "anticipate," "should," "plan," "estimate," "predict," "continue," and "potential" or the negative of these terms or other comparable terminology. Examples of forward-looking statements include, but are not limited to, estimates with respect to the financial condition, results of operations and business of Hudson City Bancorp and statements about the benefits of the merger between Hudson City Bancorp and Sound Federal Bancorp that are subject to various factors which could cause actual results to differ materially from these estimates. Any or all of the forward-looking statements in this release and in any other public statements made by Hudson City may turn out to be wrong. They can be affected by inaccurate assumptions Hudson City might make or by known or unknown risks and uncertainties. Consequently, no forward-looking statement can be guaranteed. Hudson City does not intend to update any of the forward-looking statements after the date of this release or to conform these statements to actual events.

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    Tom Phillips