Last $24.61 USD
Change Today -0.10 / -0.40%
Volume 3.6K
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As of 2:19 PM 08/22/14 All times are local (Market data is delayed by at least 15 minutes).

bridge bancorp inc (BDGE) Key Developments

Bridge Bancorp, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Announces Impairment Charges for the Second Quarter Ended June 30, 2014

Bridge Bancorp, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company's net income $4.318 million or $0.37 per basic and diluted share compared to $3.252 million or $0.36 basic and diluted per share, for the same period in 2013. The increase in net income reflects growth in earning assets generating higher net interest income and lower credit costs, with offsetting decreases in other income and increases in operating expenses. Interest income was $18.730 million, compared to $14.108 million for the last year. Net interest income was $16.815 million compared to $12.306 million for the last year. Income before income taxes was $6.483 million compared to $4.819 million for the last year. Return on average total assets was 0.80% compared to 0.79% for the last year. Return on average stockholders' equity was 9.84% compared to 10.74% for the last year. Core net income and diluted core earnings per share were $4.528 million and $0.39 per share against $3.043 million or $0.33 per share respectively. Core returns on average assets and equity for the second quarter of 2014 were 0.84% and 10.32%, respectively, compared to 0.74% and 10.05%, respectively for 2013. For the six months, the company's net income was $4.724 million or $0.41 per diluted share compared to $6.365 million or $0.70 per diluted share, for the same period in 2012. Interest income was $36.088 million compared to $27.839 million for the last year. Net interest income was $32.351 million compared to $24.234 million for the last year. Income before income taxes was $7.108 million compared to $9.393 million for the last year. Return on average total assets was 0.46% compared to 0.79% for the last year. Return on average stockholders' equity was 0.85% compared to negative return on average stockholders' equity of 0.74% for the last year. Core net income and diluted core earnings per share were $8.599 million and $0.74 per share against $5.926 million or $0.66 per share respectively Core returns on average assets and equity for the six months of 2014 were 0.83% and 9.83%, respectively, compared to 0.74% and 9.99%, respectively for 2013. The company announced net charge-offs for the second quarter ended June 30, 2014. For the quarter, net charge-offs were $0.2 million, $0.2 million lower than the second quarter of 2013.

Bridge Bancorp, Inc. Announces Second Quarter 2014 Dividend, Payable on July 31, 2014

Bridge Bancorp, Inc. announced the declaration of a quarterly dividend of $0.23 per share. The dividend will be payable on July 31, 2014 to shareholders of record as of July 17, 2014.

Bridge Bancorp, Inc. Announces Resignation of Antonia Donohue, Board of Director

On June 2, 2014 Director Antonia Donohue informed Bridge Bancorp, Inc. that she resigned from the Board of Directors in order to pursue other opportunities. The resignation was effective upon receipt of the notice.

Bridge Bancorp, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2014

Bridge Bancorp, Inc. reported earnings results for the first quarter ended March 31, 2014. Net income for the first quarter ended March 31, 2014 was $406,000, or $0.04 per share, compared to $3.11 million, or $0.35 per share, for the same quarter ended March 31, 2013. Net interest income for the first quarter ended March 31, 2014 was $15.54 million, compared to $11.93 million for the same quarter ended March 31, 2013. Income before income taxes for the first quarter ended March 31, 2014 was $625,000, compared to $4.57 million for the same quarter ended March 31, 2013.

Bridge Bancorp, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Announces Net Charge-Offs for the First Quarter Ended March 31, 2014

Bridge Bancorp, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company announced interest income of $17,358,000 compared to $13,731,000 for the same period a year ago. Net interest income was $15,536,000 compared to $11,928,000 for the same period a year ago. Income before income taxes was $625,000 compared to $4,574,000 for the same period a year ago. Net income was $406,000 compared to $3,113,000 for the same period a year ago. Basic and diluted earnings per share were $0.04 compared to $0.35 for the same period a year ago. Core return on average total assets was 0.83% compared to 0.74% for the same period a year ago. Core return on average stockholders' equity was 9.32% compared to 9.92% for the same period a year ago. Core net income was $4,011,000 or $0.35 per diluted share compared to $2,883,000 or $0.32 per diluted share for the same period a year ago. At the end of the period, tangible book value per share was $13.26 compared to $13.28 for the same period a year ago. For the first quarter ended March 31, 2014, the company announced net charge-offs were $0.3 million.

 

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