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In the banking world, Ron Hermance was known as a skillful leader who helped build Hudson City Bancorp into a $38 billion-asset company that largely avoided the credit implosions that doomed many other banks during the financial crisis.
September 12 -
Deposits and assets have fallen, and some customers and employees have fled, while Hudson City in Paramus, N.J., has been stuck in an M&A limbo. But the situation might save buyer M&T Bank some headaches later if it can just close the deal.
June 2 -
Quarterly profits plunged at Hudson City Bancorp in Paramus, N.J., last quarter as it awaits regulatory approval to be sold to M&T Bank.
July 23 -
BB&T is back the business of buying banks for the first time in several years, even though most of its peers think regulators are opposed to big-bank M&A. BB&T's investments in compliance improvements make its executives feel confident about getting new deals done, CEO Kelly King says.
September 8
Hudson City Bancorp continues to reorganize its management team and board following the death of chairman and chief executive officer Ronald Hermance on Sept. 11.
Dennis Salamone, who
Meanwhile, Hudson City promoted Anthony Fabiano to succeed Salamone as president and chief operating officer. Fabiano most recently served as an executive vice president of finance and administration for Hudson City, based in Paramus, N.J.
Fabiano was also elected to be a director on the company's board.
Fabiano joined Hudson City in 2006 when the company acquired Sound Federal Bancorp. Prior to this position, he was the chief financial officer of MSB Bancorp.
In a press release, Salamone described Fabiano as a "highly skilled and versatile executive who is well liked and respected by his peers."
Hudson City agreed in August 2012
