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USD ($)

USD ($) / shares
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    &lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
    &lt;!-- Begin Block Tagged Accounting Policy: HCBK-20110331_note8_accounting_policy_table1 - hcbk:FairValueOfFinancialInstrumentsPolicyTextBlock--&gt;
    &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif"&gt;
    &lt;div align="left" style="font-size: 10pt; margin-top: 6pt"&gt;In accordance with ASC Topic 820, we group our assets at fair value in three levels, based on the
    markets in which the assets are traded and the reliability of the assumptions used to determine
    fair value. These levels are:
    &lt;/div&gt;
    &lt;div align="left" style="font-size: 10pt; margin-top: 6pt"&gt;&lt;b&gt;&amp;#8226;&lt;/b&gt; Level 1 &amp;#8212; Valuation is based upon quoted prices for identical instruments traded in active
    markets.
    &lt;/div&gt;
    &lt;div align="left" style="font-size: 10pt; margin-top: 6pt"&gt;&lt;b&gt;&amp;#8226;&lt;/b&gt; Level 2 &amp;#8212; Valuation is based upon quoted prices for similar instruments in active markets,
    quoted prices for identical or similar instruments in markets that are not active and model-based
    valuation techniques for which all significant assumptions are observable in the market.
    &lt;/div&gt;
    &lt;div align="left" style="font-size: 10pt; margin-top: 6pt"&gt;&lt;b&gt;&amp;#8226;&lt;/b&gt; Level 3 &amp;#8212; Valuation is generated from model-based techniques that use significant assumptions
    not observable in the market. These unobservable assumptions reflect our own estimates of
    assumptions that market participants would use in pricing the asset or liability. Valuation
    techniques include the use of option pricing models, discounted cash flow models and similar
    techniques. The results cannot be determined with precision and may not be realized in an actual
    sale or immediate settlement of the asset or liability.
    &lt;/div&gt;
    &lt;div align="left" style="font-size: 10pt; margin-top: 6pt"&gt;We base our fair values on the price that would be received to sell an asset in an orderly
    transaction between market participants at the measurement date. ASC Topic 820 requires us to
    maximize the use of observable inputs and minimize the use of unobservable inputs when measuring
    fair value.
    &lt;/div&gt;
    &lt;/div&gt;
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    &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif"&gt;
    &lt;div align="left" style="font-size: 10pt; margin-top: 6pt"&gt;In January&amp;#160;2010, FASB issued an accounting standards update regarding disclosure requirements for
    fair value measurement. This update provides amendments to fair value measurement that require new
    disclosures related to transfers in and out of Levels 1 and 2 and activity in Level 3 fair value
    measurements. The update also provides amendments clarifying level of disaggregation and
    disclosures about inputs and valuation techniques along with conforming amendments to the guidance
    on employers&amp;#8217; disclosures about postretirement benefit plan assets. This update is effective for
    interim and annual reporting periods beginning after December&amp;#160;15, 2009, except for the disclosures
    about purchases, sales, issuances, and settlements in the rollforward of activity in Level 3 fair
    value measurements which are effective for fiscal years beginning after December&amp;#160;15, 2010, and for
    interim periods within those fiscal years. This accounting standards update did not have a
    material impact on our financial condition, results of operations or financial statement
    disclosures.
    &lt;/div&gt;
    &lt;/div&gt;
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    &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman',Times,serif"&gt;
    &lt;div align="left" style="font-size: 10pt; margin-top: 6pt"&gt;In April&amp;#160;2011, FASB issued Accounting Standard Update (&amp;#8220;ASU&amp;#8221;) No.&amp;#160;2011-02, Receivables (Topic 310):
    A Creditor&amp;#8217;s Determination of Whether a Restructuring Is a Troubled Debt Restructuring. This ASU
    amends Topic 310 and provides additional guidance to creditors for evaluating whether a
    modification or restructuring of a receivable is a troubled debt restructuring. The amendments in
    this update are effective for the first interim or annual period beginning on or after June&amp;#160;15,
    2011 and should be applied retrospectively to the beginning of the annual period of adoption. The
    new guidance will require creditors to evaluate modifications and restructurings of receivables
    using a more principles-based approach, which may result in more modifications and restructurings
    being considered troubled debt restructurings. For purposes of measuring impairment of these
    receivables, an entity should apply the amendments prospectively for the first interim or annual
    period beginning on or after June&amp;#160;15, 2011. Early adoption is permitted. We do not expect this
    accounting standards update will have a material impact on our financial condition, results of
    operations or financial statement disclosures.
    &lt;/div&gt;
    &lt;/div&gt;
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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 3-5
 -Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 114
 -Paragraph 20
 -Subparagraph b

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Emerging Issues Task Force (EITF)
 -Number 92-5

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Statement of Position (SOP)
 -Number 01-6
 -Paragraph 13

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