Business: Fashion For a Cause, BNB Announces Growth

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Courtesy All Against Abuse Fashion Lab

Goldberg’s and Hamptons Bev: A Possible Sale in Their Future

Listed for just shy of $6 million, the property that is home to Goldberg’s bagels and Hampton Beverage is now on the market.

Located just outside East Hampton Village off Montauk Highway, the 10,856-square-foot commercial building is comprised of three units — with four-and-a-half baths between them — sited on 1.5 acres with 45 parking spaces.

Douglas Elliman’s Justin Agnello, Hara Kang and James Keogh represent the property, which has approximately $24,000 in yearly taxes and is zoned Neighborhood Business.

For more information, visit elliman.com.

Bridge Bancorp Reports Second Quarter Results

Bridge Bancorp, Inc. — the parent company of BNB Bank — recently announced growth in loans and deposits in the second quarter, and a net income of $6.7 million, or $0.34 per diluted share, inclusive of pre-tax net securities losses of $7.9 million, or $0.31 per diluted share after tax, related to the company’s balance sheet restructure.

Excluding the impact related to the balance sheet restructure, net income for the second quarter was $12.9 million, or $0.65 per diluted share, and net interest income increased $3.1 million over 2017 to $33.9 million, with a net interest margin of 3.31 percent.

As of June 30, total assets of $4.4 billion were 5 percent higher year over year, and the bank saw loan growth of $384 million, of 14 percent, as compared to June 30, 2017 — and $78 million, or 5 percent annualized, from December 31, 2017.

The bank saw deposit growth of $494 million, or 16 percent year over year, and $219 million, or 13 percent annualized, from December 31, 2017. There was a non-public, non-brokered deposit growth of $371 million — again, 16 percent year over year — and $209 million, or 17 percent annualized, from December 31, 2017.

Non-performing assets of $1.8 million were $900,000 than this time last year, and $5.2 million lower than December 31, 2017. But the bank reported continued solid reserve coverage and strong capital ratios, and declared a dividend of $0.23 during the quarter.

“Our second quarter results demonstrate our ability to successfully operate in this very competitive marketplace under increasingly challenging conditions,” Kevin O’Connor, president and CEO, said in a press release. “We continue to add new relationships, along with loans and deposits, while improving our credit metrics, adjusted net interest margin, and expense ratio. This quarter we also focused on strategically repositioning our balance sheet considering the new interest rate environment.”

For more information, visit ­­­­­­bnbbank.com.

The home at 317 Noyac Road in North Sea. Courtesy photo

East Enders Star in ‘Below Deck Mediterranean’

Danielle Lise Desrochers is no stranger to reality television.

On Tuesday, August 7, the Douglas Elliman agent appeared on Bravo’s “Below Deck Mediterranean,” following her listing’s starring role almost four years back on “Kourtney and Khloe Take the Hamptons” at 317 Noyac Road in North Sea.

Even better, there were three more East Enders in the same episode: Lizzz Kritzer, president of Kritzer Marketing; Michelle Reilly, co-owner of Herbert Rist Liquor Store in Southampton; and Amy Musto, a Southampton artist and publishing executive.

For more information, visit bravotv.com/below-deck-mediterranean.

Blue Carreon Home Trunk Show

Lisa Salzer-Wiles, the force behind the jewelry label Lulu Frost, will be front and center during a trunk show at Blue Carreon Home, located at 74 Montauk Highway — Red Horse Plaza, Suite 6 — in East Hampton, on Saturday, August 11 from 11 a.m. to 3 p.m.

For more information, call (631) 907-4158 or visit bluecarreonhome.com.

Making A Statement Against Abuse with Fashion

Normally, shoppers at The Retreat Boutique thrift their finds, and leave.

But on Wednesday, August 22, they can choose to turn them into art, with the help of MAGO — painter, activist and provocateur.

The first installment of the All Against Abuse Fashion Lab — a series designed to acquaint patrons with the hip, vintage, casual and luxury labels that the boutique offers for men and women — will include a stenciling lesson from the artist, who will offer his own collection of original designs painted on his store finds, and a wine tasting from Jamesport Vineyards.

The fashion lab will be held from 6 to 8 p.m. at The Retreat Boutique thrift store in the Bridgehampton Commons, located at 2044 Montauk Highway. Admission is free, but registration is required, and all proceeds will support the work of the Retreat. A selection of MAGO’s paintings will be available for purchase through Labor Day.

For more information, visit theretreatinc.org/event/fashion-lab.

Virtuoso Welcomes Gurney’s Into the Fold

Gurney’s Montauk Resort & Seawater Spa has been accepted into Virtuoso’s portfolio of luxury travel partners, “comprised of the finest luxury hotels, resorts, cruise lines, airlines, tour operators and other suppliers worldwide,” according to a press release.

Inclusion in Virtuoso will open up new sales and marketing opportunities to the network’s 17,500 travel advisors and their clientele. With agencies that sell more than $23.7 billion annually, the network is one of the most significant players in the luxury travel market.

“Virtuoso’s acceptance process is incredibly selective, so becoming a preferred partner is a true honor,” George Filopoulos, owner of Gurney’s Resorts, said in a press release. “The reputation Virtuoso member advisors have for outstanding dedication to their clients is a perfect fit with our own bespoke approach to service. Now that we’re part of this renowned network, we look forward to offering Virtuoso advisors and their clients special amenities, values and experiences that surpass their expectations.”

Under the ownership of Filopoulos and Lloyd Goldman, the four-year, multi-phase refresh of Gurney’s Montauk Resort & Seawater Spa began in 2014 and has returned the year-round spa destination to “the epicenter of the Hamptons experience,” the release said. The facelift included new guest rooms, revamps of the Beach Club and the ocean-fed, seawater swimming pool — the only of its kind in the United States — and a renovated lobby and banqueting facilities.

“Today, the resort boasts exclusive wellness and lifestyle programming year-round, including sought-after studio classes and nightly entertainment,” the release said. “Following the success of the flagship property, Gurney’s Resorts expanded to Newport, Rhode Island, and opened a second resort in Montauk and oceanfront Residences.”

For more information, call (631) 668-2345 or visit gurneysresorts.com/montauk.

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