In the 1920s, Hudson City Savings Bank opened its second branch office, and moved from the old headquarters on Newark Avenue, to 587 Summit Avenue in Jersey City. The company survived the aftermath of the stock market crash of 1929 when many other banks closed. By the end of the Great Depression of the 1930s, it had accumulated US$11 million in assets and held US$800,000 in reserves. By the end of the 1940s, the savings bank had opened at least three Jersey City branches, with over US$26 million in assets.