Hudson City Bancorp Q1 Profit Falls - Quick Facts

(RTTNews) - Hudson City Bancorp, Inc. (HCBK), the holding company for Hudson City Savings Bank , reported that its net income for the first-quarter ended March 31, 2015 fell to $5.9 million from $42.5 million last year. Earnings per share amounted to $0.01 compared to earnings per share of $0.09 in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.02 per share for the quarter. Analysts' estimates typically exclude special items.

Net interest income decreased to $75.6 million from $132.3 million for the first quarter of 2014. Total interest and dividend income for the first quarter decreased 19.7%, to $250.9 million from $312.5 million in the prior year.

The Company's Board of Directors did not declare a dividend for the first quarter of 2015. The Board made this decision after considering the level of earnings for the first quarter, the importance of paying dividends out of current earnings and the regulatory evaluation of any dividend request. The Company is required to seek regulatory approval prior to declaring a dividend.