WASHINGTON (dpa-AFX) - Hudson City Bancorp, Inc. (HCBK), the holding company for Hudson City Savings Bank, reported first-quarter net income of $73.0 million compared to a net loss of $555.7 million in the year ago quarter. Earnings per share amounted to $0.15 for the first quarter of 2012 compared to a net loss per share of $1.13 for the first quarter of 2011. The net loss for the first quarter of 2011 was the result of a restructuring of the Company's balance sheet.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.15 per share for the quarter. Analysts' estimates typically exclude special items.
Operating earnings and operating earnings per share amounted to $93.7 million and $0.19 per share, respectively, for the first quarter of 2011.
Net interest income for the quarter declined to $234.12 million from $256.40 million in the prior year quarter. Total non-interest income decreased to $2.79 million, up from $105.21 million in year ago quarter.
The company also reported that the Board of Directors declared a quarterly cash dividend of $0.08 per share payable on May 25, 2012 to shareholders of record on May 10, 2012.
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