Hudson City Bancorp, Inc., based in Paramus, in the U.S. state of New Jersey, is a bank-holding company for Hudson City Savings Bank, its only subsidiary, the largest savings bank in New Jersey and one of the oldest banks in the United States, with US$50 billion in assets. It is now a fully publicly held entity and a member S&P 500 stock market Index. In 2005 its US$3.93 billion secondary offering of common stock was the largest in United States banking history. At the time it was also the seventh largest domestic public offering in United States history The bank avoided the excesses of the housing boom and as labeled "best bank of 2007" by Forbes. M&T Bank agreed to acquire Hudson City on August 27, 2012.