BUFFALO, N.Y. and PARAMUS, N.J., Jan. 29, 2013 -- M&T Bank and Hudson City Savings Bank announced today the collective efforts of employees, customers, directors and retirees have raised $824,143 for the American Red Cross Hurricane Sandy Relief Fund. The money will be directed to American Red Cross chapters in New Jersey, Staten Island and Long Island to assist people in communities recovering from the natural disaster.
"Even with the resources available to us, my office was closed for almost six weeks," said Selena McLeod, branch manager of Hudson City Savings Bank's Midland Beach Office on Staten Island. "But sadly there are many other individuals and businesses in this hard hit area that are having a much harder time getting back on their feet. These contributions will go a long way toward helping them recover. I am extremely proud that our two institutions — and so many individuals associated with them — have contributed so much to help those in areas like this."
"This generous response from our employees, associates and customers will help a lot of people during their time of need," said Brian Stone, administrative vice president for commercial banking at M&T Bank's Long Island regional headquarters in Melville. "This was one of the worst storms to hit Long Island in decades and there are a lot of local businesses that are still getting back on their feet to this day."
The storm also impacted individuals and businesses across New Jersey.
"Many of our customers were severely affected, and these contributions will provide sorely needed help," said Leonard Conticello, regional vice president for Hudson City's retail branches located along the New Jersey shore.
"Behind the grand total of the economic impact in New Jersey, there are thousands of families that have experienced devastating personal losses and are still trying to rebuild their homes and lives. We hope these contributions can be used to aid them in this long process," said Paula Mandell, senior vice president managing M&T Bank's Saddle Brook, New Jersey commercial banking office.
M&T Bank and Hudson City Savings Bank each made initial commitments of $250,000 to the American Red Cross during the first week of November. The employees, directors and retirees of both M&T Bank and Hudson City Savings Bank donated a combined $157,657 to the relief effort. M&T Bank matched all of those contributions for an additional $157,657. Bank customers made $8,829 of donations at bank branches in November and December to round out the grand total of $824,143.
On August 27, 2012, Hudson City Bancorp, Inc. (NASDAQ: HCBK) and M&T Bank Corporation (NYSE: MTB) announced they have entered into a definitive agreement under which Hudson City will merge into a subsidiary of M&T, expanding the premier community banking franchise in the eastern United States. The merger has been approved by the boards of directors of each company, and is subject to certain conditions, including regulatory approvals and approval by M&T's and Hudson City's common shareholders.
M&T Bank is the principal bank subsidiary of Buffalo-based M&T Bank Corporation, which serves customers at branch offices located in New York, Pennsylvania, Maryland, Virginia, West Virginia, Delaware and the District of Columbia. For further information visit www.mtb.com/newsroom.
Hudson City Bancorp, Inc. maintains its corporate offices in Paramus, New Jersey. Hudson City Savings Bank, a well-established community financial institution serving its customers since 1868, is the largest thrift institution headquartered in New Jersey. Hudson City Savings Bank currently operates a total of 135 branch offices in the New York metropolitan and surrounding areas.
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