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Monday, August 27, 2012 - 2:56 PM
M&T Bank To Buy Hudson City Bancorp In $3.7 Billion Deal
Hudson City Savings Bank (0 stars) - DetailsFrom Reuters
M&T Bank hasn't been kind to the internet accounts of the banks they have acquired in the past. WTDirect is one example. When M&T Bank acquired WTDirect's parent, Wilmington Trust, WTDirect's rates were slashed (from 0.76% to 0.25%). So I don't have much hope for Hudson City's internet money market and CD rates.
M&T Bank Corp said it would buy Hudson City Bancorp Inc in a stock and cash deal worth $3.7 billion, expanding its franchise in the eastern United States and taking a step toward the long-awaited consolidation of regional banks.Read more
M&T Bank hasn't been kind to the internet accounts of the banks they have acquired in the past. WTDirect is one example. When M&T Bank acquired WTDirect's parent, Wilmington Trust, WTDirect's rates were slashed (from 0.76% to 0.25%). So I don't have much hope for Hudson City's internet money market and CD rates.
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