In the barbell structure of banking (huge financial institutions on one end, mom and pops on the other), Hudson United Bank had not advertised to consumers in more than two years, so they had no real identity with consumers. Research showed a large percentage of their customers were over age sixty and banked with them for no other reason other than that they were nearby. Assets were dwindling and employee morale was low.
It was a great opportunity to re-brand a company at the most opportune moment. Hudson United Bank occupied the sweet middle spot with assets above $10 billion, but on a more personal, consumer-friendly, regional level. As a mid-sized bank, HUB was able to better leverage various benefits over their large competitors; from service, to local initiatives and competitive rates.
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Billion Sale to TD Bank