Business Beat: Bridge Bancorp announces second quarter earnings

08/02/2011 4:41 PM |

• Bridge Bancorp, Inc., the parent company of Bridgehampton National Bank, announced earnings of $2.5 million for its second quarter, ended June 30, amounting to 38 cents per share.

The second quarter earnings were affected by $265,000 of after-tax acquisition costs in connection with its merger with Hamptons State Bank that closed on May 27.

Bridge Bancorp has total assets of $1.19 billion, a 23 percent increase over its assets at the end of the second quarter in 2010. Deposits were at $1.07 billion, a 25 percent increase over the 2010 deposits for the same period last year. The bank declared a quarterly dividend of 23 cents per share.

“The activity for the company during this quarter and first half of 2011 has been significant,” Bancorp president and CEO Kevin O’Connor said.