Business Briefs: Valentine’s Menu, Restaurant Week, BNB Year End Results
The 1770 House & Chef Michael Rozzi Present Valentine’s Tasting Menu
The 1770 House Restaurant & Inn will offer an $85 Valentine’s Day four-course tasting menu with a dozen signature dishes by Chef Michael Rozzi. Chef Rozzi’s tasting menus “build like a crescendo,” and start off with small bites and lighter flavors that gradually grow into big full flavors and multi-layer dishes. Winter warming specials are at the heart of the menu offered in a historic and romantic ambience.
Among the first course bites are duo of oysters on the half shell and Chef Rozzi’s signature and spicy Montauk fluke tartare, warm mushroom salad and a beet and pomelo salad. Second course selections include Maine lobster bisque with tarragon and brandy, butternut squash and winter truffle risotto, seared Hudson Valley foie gras and seared local sea scallops with green curry. The third course main entrée choices are roasted codfish with winter truffle sauce, Rohan duck breast, dry-rubbed Berkshire pork filet and New York strip steak. The fourth course will be a selection of Chef Rozzi’s house-made desserts.
The optional fifth course is Chef Rozzi’s new cheese menu that is sourced from the United Kingdom and Ireland. A goat’s milk cheddar is by Mary Quicke of Devon and a cow’s milk, “Caerphilly,” is from Wales. Other cow’s milk cheeses are Irish with “Gubbeen” from Cork City and “Cashel Blue” from County Tipperary. All cheeses are served with local apple compote, East End honey and house-made crostini. The cheeses are $9 each.
Luxury accommodations at The 1770 House are currently available at discounted winter rates. The 1770 House is located at 143 Main Street in East Hampton. For more information please call (631) 324-1770 or visit 1770house.com.
Now Introducing: East End Restaurant Week
In honor of the 15th anniversary of Hamptons Restaurant Week, the brains behind the annual promotion, Long Island Restaurant and Hospitality Group, is introducing a rendition of the event: East End Restaurant Week.
The promotion, scheduled for March 26 through April 2, was created to garner positive publicity and generate additional business for East End restaurants during the slowest time of year, and as a kick-start to the spring season. Beginning as a South Fork promotion, over the last 14 years it has grown to encompass all of the East End, including the North Fork.
“We’ve always received a tremendous amount of support from the North Fork,” LIRHG President, Steve Haweeli said. “It’s time we recognize that and show our appreciation for all restaurateurs involved.”
Participating restaurants will offer a three-course prix fixe menu for $28.95, each night they are open, except Saturdays, when the menu may only be offered until 7 p.m. Each participant must offer three options per course.
The promotion will also feature a new lodging component offering an option for a discounted getaway to the East End. Participating lodging properties will offer a minimum 10-percent discount off a stay during the promotion. This lodging and dining promotion offers a great off-season getaway to one of the most beautiful regions on the east coast.
East End Restaurant Week is a win-win for participants and consumers, alike. Diners can experience new restaurants and lodging properties they might not otherwise try at an affordable price. For over the last decade, restaurateurs have reported a surge in business during the promotion, some by more than 50-percent. East End Restaurant Week is presented by Long Island Restaurant and Hospitality Group.
For a full list of participants and for more information, visit eastendrestaurantweek.com.
February Happenings at Southampton Publick House
This February, the Southampton Publick House will offer a number of dining and drink specials. On Valentine’s Day, enjoy two-for-one entrees in the dining room and an open mic “Fat Tuesday” on February 28 at 8 p.m.
In the taproom, the $12 brew plate special is served at the bar until 3 p.m. and includes one draft beer and the special of the day. Monday Night Madness offers $5 pints, $6 wings and $7 burger platters, with a happy hour from 4 to 7 p.m. Monday through Friday. On Tuesdays, get two-for-one entrees all day, and Ladies’ Night on Wednesday features drafts and drink specials, and DJ Tony in the taproom at 10 p.m.
Open Mic night for East End musicians will be hosted at 8 p.m. on Thursdays by David Kirshy to go along with the “Thirsty Thursday” special with $5 pints, $8 Tito’s cocktails and ½ priced appetizers. Also on Thursday’s, enjoy “Prime Time Thursday’s,” with a 3-course prime rib dinner.
On the weekends, enjoy an all night happy hour starting 4 p.m. with DJ Dory at 10 p.m. and a “Saturday Night Publick Affair” with music by DJ JetSet at 10 p.m. and brunch on Saturday’s & Sunday’s at $18 per person from 12 to 3 p.m.
The Southampton Publick House is open year round and located at 62 Jobs Lane in Southampton. For more information, go to publick.com, or call (631) 283-2800.
Bridge Bancorp, Inc. Fourth Quarter and Year End Results
Bridge Bancorp, Inc. (NASDAQ:BDGE), the parent company of The Bridgehampton National Bank (“BNB”) has announced fourth quarter and year-end results for 2016.
“2016 reflected another strong year for our company as we built on the organization we’ve worked to create both organically and through acquisition. In addition to adding customers and growing loans and deposits we launched our ‘Believe iN Beyond’ initiative. This created a company stronger and better prepared for further expansion,” Kevin M. O’Connor, President and CEO said.
“We also implemented financial and organizational changes to improve financial strength, risk management processes and operating structure providing a platform more appropriate for a bank approaching $5 billion in assets. All of this was accomplished while achieving record earnings and delivering strong results.”
Highlights of the company’s financial results for the quarter and year include record net income of $9.2 million, an increase of $1.2 million or 15% over 2015, and $.50 per diluted share for the quarter, record net income of $35.5 million, an increase of $14.4 million or 68% over 2015, and $2.00 per diluted share for the year. The returns on average assets and equity were .93% and 9.50%, respectively, for the 2016 fourth quarter and .92% and 9.82%, respectively, for the full year. Net interest income increased $2.3 million to $30.2 million, with a net interest margin of 3.41% for the 2016 fourth quarter and increased $24.8 million to $120.9 million, with a net interest margin of 3.48% for the year as compared to the same periods the prior year.
“As many expected, the Federal Reserve raised rates in December and is expected to continue doing so throughout 2017. This will present new challenges for the industry as it has been quite some time since the Fed’s last sustained rate increase. We have been, and will continue to be, thoughtful about our asset/liability mix and how to best position our balance sheet for this new environment,” Mr. O’Connor added.
“Additionally, we anticipate our effective income tax rate in 2017 will remain between 34% and 35%. However, the effective income tax rate may change materially should changes to current tax law be enacted in 2017. Any changes to current tax law may also have an impact on our deferred tax position.”
The total assets of $4.1 billion at December 2016, 7% higher than December 2015, and loan growth of $190 million or 8% compared to December 2015. There were deposits of $2.9 billion at December 2016, including $1.2 billion in non-interest bearing demand deposits.
“During the fourth quarter we took advantage of the market’s positive outlook for financial stocks and raised close to $50 million in common equity. This strengthened our balance sheet and will enable us to take advantage of opportunities in our marketplace. Long Island continues to be one of the most attractive banking markets in the country and our model of on-the-ground bankers and local decision makers gives us a competitive advantage,” stated Mr. O’Connor.