Hudson City Bancorp is the holding company for Hudson City Savings Bank, one of the largest thrifts in the US. Founded in 1868, the bank has around 135 branches in the New York City metropolitan area, including northern New Jersey; Long Island; and Fairfield County, Connecticut; as well as central New Jersey and that state's Philadelphia suburbs. Serving middle- to high-income consumers, it issues and purchases high-quality first residential mortgages, which account for about 99% of its loan portfolio. It originates loans through mortgage bankers and brokers, and (to a lesser extent) on a wholesale basis nationwide. M&T Bank acquired Hudson City Bancorp in November 2015 for $3.7 billion.