Paramus, New Jersey: Hudson City Bancorp, Inc. announced net income of $39.1 million for the quarter ended December 31, 2014 as compared to net income of $45.8 million for the quarter ended December 31, 2013.
Diluted earnings per share amounted to $0.08 for the fourth quarter of 2014 as compared to diluted earnings per share of $0.09 for the fourth quarter of 2013. For the year ended December 31, 2014, the Company reported net income of $158.0 million as compared to net income of $185.2 million for the year ended December 31, 2013. Diluted earnings per share amounted to $0.32 for the year ended December 31, 2014 as compared to diluted earnings per share of $0.37 for the year ended December 31, 2013.
Hudson City Bancorp is the holding company for Hudson City Savings Bank. The Bank’s Tier 1 leverage capital ratio increased to 11.74% at December 31, 2014 as compared to 10.82% at December 31, 2013. The Bank’s total risk-based capital ratio increased to 28.75% at December 31, 2014 as compared to 25.31% at December 31, 2013.
Early stage loan delinquencies (defined as loans that are 30 to 89 days delinquent) decreased $65.8 million to $407.6 million at December 31, 2014 from $473.4 million at December 31, 2013. The ratio of net charge-offs to average loans decreased to 0.16% for the year ended December 31, 2014 as compared to 0.25% for 2013. Non-performing loans decreased $197.2 million to $852.0 million at December 31, 2014 as compared to $1.05 billion at December 31, 2013 due in part to the sale of a pool of $112.1 million of non-performing residential mortgage loans guaranteed by the Federal Housing Administration during the third quarter of 2014.
