Record Income for Bridge Bancorp


Bridge Bancorp, Inc.,  the parent company of the Bridgehampton National Bank, has broken its quarterly record for net income and earnings per share, it announced. The bank recorded net income of $4.5 million, with earnings per share of 39 cents for the second quarter of 2014. These figures represent a 49 percent rise from the same period a year ago. The bank also recorded an increase in net interest income from $4.5 million to $16.8 million for the same period.

The number of loans have also grown by 33 percent, a dollar increase of some $300 million, the banking company reported. The bank also reported a 27-percent increase in assets to $2.2 billion. In other news, the bank said that deposits had increased 20 percent to $1.75 billion.

The company declared a dividend of 23 cents for the quarter.

“Our expanded footprint and larger capital base allows our team of dedicated bankers to deliver BNB’s brand of community banking services across a greater section of Long Island and into the boroughs of NYC,” said Kevin M. O’Connor, the president and CEO of Bridge Bancorp, Inc.