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Paramus, N.J.-Based Hudson City Bancorp Ranks First in Cost Efficiency.
Knight Ridder/Tribune Business News, September, 2002
By Richard Newman, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News
Sep. 26--Hudson City Bancorp, parent company of Hudson City Savings Bank, was the most cost-efficient bank holding company in the nation during the first three months of 2002, according to new rankings published by the trade newspaper American Banker.
Its 26.07 percent efficiency ratio led the nation's 500 largest banks.
The ratio means the company spent a little more than 26 cents to generate each $1 in income.
The formula excludes gains or losses from securities trading.
Other New Jersey bank holding companies ranking among the top 40 for holding down operating costs were Amboy Bancorp in Old Bridge (No. 14), Hudson United Bancorp in...
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