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Bridge Bancorp, Inc. (NASDAQ: BDGE) announced that it will report its second quarter earnings after market close on July 28, 2020. The company, which operates through BNB Bank with approximately $6.1 billion in assets, will host a conference call on July 29, 2020, at 10:00 AM ET to discuss the results. BNB Bank serves Long Island and the greater New York metropolitan area with 39 branches, offering various financial services and products.
Bridge Bancorp, Inc. (NASDAQ: BDGE) has announced a quarterly dividend of $0.24 per share, which will be paid on July 27, 2020, to shareholders on record as of July 20, 2020. This declaration continues the company's pattern of uninterrupted dividends. Bridge Bancorp operates under BNB Bank, which has approximately $6.1 billion in assets and serves the Long Island and greater New York metropolitan area through its 39 branches.
Bridge Bancorp and Dime Community Bancshares announced a merger valued at approximately $489 million, combining their strengths to create a premier community bank in New York. The merged entity will have over $11 billion in assets and 66 branches, enhancing market share and operational capabilities. This merger aims to accelerate shareholder value with a projected 7% GAAP EPS increase for Bridge and 40% for Dime. The new entity will operate under the Dime Community Bancshares name, with a board consisting of equal members from both companies.
BNB Bank, a subsidiary of Bridge Bancorp (NASDAQ: BDGE), has initiated the distribution of $50,000 in Federal Home Loan Bank of New York Small Business Recovery Grants to local non-profits. This effort is part of a larger $5 million grant program aimed at supporting businesses impacted by the COVID-19 pandemic in New York. BNB plans to allocate a total of $100,000 to qualifying organizations experiencing at least a 25% revenue loss, providing up to $10,000 per grant. The funding will assist in vital services such as job training and financial education.
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