In contrast, Buffalo, N.Y.-based M&T has 28 branches spread across Bucks, Chester, Delaware, Montgomery and Philadelphia Counties with local deposits of $1.04 billion.
Based on local deposits as of June 30, 2011, the transaction involves the 13th- and 14th-biggest banks in the eight-county Philadelphia region.
Once the deal gains regulatory and shareholder approval, M&T would become the 10th-biggest bank locally based on local deposits. With $2.01 billion in local deposits, M&T would hurdle current No. 10 National Penn Bank and its deposits of $1.90 billion in the region.
A combined M&T/Hudson City would continue to lag behind Susquehanna Bank, which had local deposits of $2.06 billion - taking into account its acquisition of Graystone Tower Bank in February.
M&T would climb a little closer to fellow New York bank First Niagara Bank, which had $2.40 billion in local deposits as of June 30, 2011.
Both New York banks have been busy acquirers. First Niagara bought Harleysville National Bank to enter the Philadelphia market in April 2010. M&T - a bigger institution that had total deposits of $62.5 billion as of June 30 - has completed 23 acquisitions in 25 years, including the purchase of Wilmington Trust in May 2011.
Even with its absorption of Hudson City, M&T would remain far behind the Big Three of the Philadelphia banking market: TD Bank ($15.25 billion), Wells Fargo Bank ($15.02 billion) and Citizens Bank of Pennsylvania ($10.43 billion).
If nothing else, the M&T/Hudson City transaction is another example of the slow consolidation that continues to reduce the number of banks in the region. The FDIC market-deposit data, which will be updated in October, listed 116 separate banks with local deposits as of June 2011 - a number sure to shrink in the absence of new bank formation.
One of the region's larger health information technology firms, NextGen Healthcare Information Systems, can get overlooked because it's owned by Quality Systems Inc., of Irvine, Calif.
NextGen, a developer of electronic health-records technology, accounted for about 75 percent of Quality Systems' revenue of $429.8 million for its fiscal year ended March 31. However, Quality Systems' shares are down about 61 percent over the last 52 weeks.
The company recently survived a proxy fight involving shareholder Ahmed D. Hussein, who owns more than 15 percent of the company's common stock. Hussein had nominated seven people, including himself, to serve on the board.
While shareholders voted Hussein and one of his nominees, Patrick B. Cline, onto the board, they also reelected seven of the directors put forward by Quality Systems. Cline was a cofounder of Horsham-based NextGen. Cline retired as president and chief strategy officer of Quality Systems in December.
Last week, Quality Systems announced that Scott Decker, who has been president of the NextGen division since 2009, will resign as of Sept. 7. The company said that Decker, 45, "has accepted an executive-level position at a noncompetitive company within the healthcare sector."
Contact Mike Armstrong at 215-854-2980 or marmstrong@phillynews.com, or @PhillyInc on Twitter. Read his blog, "PhillyInc," at www.phillyinc.biz.
