United States

Profile: Bridge Bancorp Inc (BDGE.OQ)

BDGE.OQ on NASDAQ Stock Exchange Global Select Market

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Bridge Bancorp, Inc., incorporated on October 13, 1988, is a bank holding company for The Bridgehampton National Bank (the Bank). The Bank engages in commercial and consumer banking business, including accepting time, savings and demand deposits from the consumers, businesses and local municipalities surrounding its branch offices. These deposits, together with funds generated from operations and borrowings, are invested primarily in commercial real estate loans; multi-family mortgage loans; home equity loans; construction loans; residential mortgage loans; secured and unsecured commercial and consumer loans; Federal Home Loan Bank (FHLB), Federal National Mortgage Association (FNMA), Government National Mortgage Association (GNMA) and Federal Home Loan Mortgage Corporation (FHLMC) and non-agency mortgage-backed securities, collateralized mortgage obligations and other asset backed securities; New York State and local municipal obligations, and the United States government sponsored entity (U.S. GSE) securities. The Bank's operations include Bridgehampton Community, Inc. (BCI), which is its real estate investment trust subsidiary; Bridge Abstract LLC (Bridge Abstract), which is a financial title insurance subsidiary, and Bridge Financial Services LLC (Bridge Financial Services), which is an investment services subsidiary.

The Bank also offers the Certificate of Deposit Account Registry Service (CDARS) program, which provides multi-millions of Federal Deposit Insurance Corporation (FDIC) insurance on certificate of deposit (CD) deposits to its customers. In addition, the Bank offers merchant credit and debit card processing, automated teller machines, cash management services, lockbox processing, online banking services, remote deposit capture, safe deposit boxes, individual retirement accounts, as well as investment services through Bridge Financial Services, which offers a range of investment products and services through a third party broker dealer. The Bank's customer base consists of small businesses, municipal relationships and consumer relationships.

The Bank has approximately six owned properties, including its headquarters and branch office in Bridgehampton, and over five branches located in Montauk, Southold, Westhampton Beach, Southampton Village, and East Hampton Village. The Bank leases approximately 30 additional properties as branch locations, which include over 20 in Suffolk County, approximately nine in Nassau County, over one in Queens and approximately one in Manhattan. The Bank subleases a portion of the leased property located in Patchogue and Melville, New York. The Bank leases approximately two properties as loan production offices, which include one in Riverhead, New York and one in New York City.

Lending Activities

The Bank's loan portfolio consists primarily of real estate loans secured by commercial and residential real estate properties located in the Bank's principal lending areas of Nassau and Suffolk Counties that are located on Long Island. The Bank offers commercial real estate mortgage loans; multi-family loans; residential real estate mortgage loans; commercial, financial and agricultural loans; real estate construction and land loans, and installment/consumer loans. The Bank's total loans amount to approximately $2.40 billion.

Investment Activities

The Bank's investment securities are classified as securities available for sale and securities held to maturity. The Bank's total securities available for sale amount to approximately $0.80 billion. Its total securities held to maturity amount to approximately $0.20 billion. The Bank's total investment securities amount to approximately $1.01 billion.

Source of Funds

The Company's sources of funds are dependent on dividends from the Bank, its own earnings, additional capital raised and borrowings. The Bank generates non-interest income, such as fee income on deposit accounts and merchant credit and debit card processing programs, investment services and net gains on sales of securities and loans. The Bank's total deposits amount to approximately $2.84 billion.

Company Address

Bridge Bancorp Inc

2200 Montauk Hwy
BRIDGEHAMPTON   NY   11932-4001
P: +1631.5371000

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