Hudson City Bancorp Q3 Profit Drops - Quick Facts

(RTTNews) - Hudson City Bancorp, Inc. (HCBK), the holding company for Hudson City Savings Bank, reported lower net income of $42.7 million, or $0.09 a share for the third quarter, compared with $55.9 million, or $0.11 a share last year. On average, 8 analysts polled by Thomson Reuters expected earnings per share of $0.08 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly net interest income decreased 31.4% to $139.4 million, from $203.3 million in the 2012 period, reflecting the overall decrease in the average balance of interest-earning assets and interest-bearing liabilities, the continued low interest rate environment and an increase in the average balance of Federal funds sold and other overnight deposits.

In addition, the board declared a quarterly cash dividend of $0.04 per share, payable on November 29, 2013 to shareholders of record on November 8, 2013.