Bridge Bancorp Announces Approval of Stock Repurchase Program
February 19 2019 - 9:00AM
Bridge Bancorp, Inc. (the “Company”) (NASDAQ®: BDGE), the holding
company for BNB Bank (“BNB”), announced today that its Board of
Directors has approved a stock repurchase program for up to
1,000,000 shares of its common stock. The Company may repurchase
the shares from time to time through open market purchases,
privately negotiated transactions or in any other manner that is
compliant with applicable securities laws. This program
replaces the previously authorized repurchase plan.
The stock repurchase program does not obligate the Company to
purchase shares. There is no guarantee as to the exact number of
shares that may be repurchased by the Company pursuant to this
program, which is subject to market conditions, the cost of
repurchasing shares, the availability of alternative investment
opportunities, liquidity, and other factors deemed appropriate.
About Bridge Bancorp, Inc.
Bridge Bancorp, Inc. is
a bank holding company engaged in commercial banking and financial
services through its wholly owned subsidiary, BNB Bank. Established
in 1910, BNB, with assets of approximately $4.7 billion, operates
39 branch locations serving Long Island and the greater New York
metropolitan area. In addition, the Bank operates one loan
production office in Manhattan. Through its branch network and its
electronic delivery channels, BNB provides deposit and loan
products and financial services to local businesses, consumers and
municipalities. Title insurance services are offered through BNB's
wholly owned subsidiary, Bridge Abstract. Bridge Financial
Services, Inc., a wholly owned subsidiary of BNB, offers financial
planning and investment consultation. For more information
visit www.bnbbank.com. BNB has a rich tradition of
involvement in the community, supporting programs and initiatives
that promote local business, the environment, education,
healthcare, social services and the arts. |
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of that term as set forth in Rule 175 of the Securities
Act of 1933 and Rule 3b-6 of the Securities Exchange Act of 1934.
Such statements are generally contained in sentences including the
words “may” or “expect” or “could” or “should” or “would” or
“believe” or “anticipate.” The Company cautions that these
forward-looking statements are subject to numerous assumptions,
risks and uncertainties that could cause actual results to differ
materially from those contemplated by the forward-looking
statements, including those risk factors described in the Company’s
Annual Report on Form 10-K. These forward-looking statements are
made as of the date of this press release, and the Company assumes
no obligation to update the forward-looking statements or to update
the reasons why actual results could differ from those projected
in the forward-looking statements.
Contact: |
John M. McCaffery |
|
Executive Vice President |
|
Chief Financial Officer |
|
(631) 537-1001, ext. 7290 |
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