Bridge Bancorp, Inc. and Dime Community Bancshares, Inc. Announce Bridge Bancorp Fourth Quarter 2020 Dividend
January 08 2021 - 4:15PM
Bridge Bancorp, Inc. (the “Company”) (NASDAQ: BDGE), the holding
company for BNB Bank, and Dime Community Bancshares, Inc. (“Dime”)
(NASDAQ:DCOM), the holding company for Dime Community Bank,
announced the declaration by the Company of a quarterly dividend of
$0.24 per share. The dividend will be paid on February 12, 2021 to
the Company’s shareholders of record as of February 5, 2021. The
Company’s shareholders as of the record date will include the
former Dime shareholders following the expected February 1, 2021
consummation of the merger of equals between the Company and Dime.
Pursuant to the merger agreement dated July 2020, Dime will not
declare its typical quarterly dividend. As previously
disclosed, each Dime share will be exchanged for 0.648 shares of
the Company at the closing of the transaction. The Company
continues its trend of uninterrupted dividends.
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 Bank,
with assets of approximately $6.3 billion, operates 39 branch
locations serving Long Island and the greater New York metropolitan
area. Through its branch network and its electronic delivery
channels, BNB Bank provides deposit and loan products and financial
services to local businesses, consumers and municipalities. Title
insurance services are offered through BNB Bank's wholly- owned
subsidiary, Bridge Abstract. Bridge Financial Services, Inc., a
wholly-owned subsidiary of BNB Bank, offers financial planning and
investment consultation. For more information visit
www.bnbbank.com.
About Dime Community Bancshares,
Inc.
Dime Community Bancshares, Inc. is the holding
company for Dime Community Bank, a New York State-chartered
community commercial bank that was founded in 1864. Dime Community
Bank is headquartered in Brooklyn, NY and operates 28 banking
offices located throughout Brooklyn, Queens, the Bronx, Nassau and
Suffolk Counties, New York. More information on Dime Community
Bancshares, Inc. and Dime Community Bank can be found on Dime's
website at www.dime.com.
On July 1, 2020, the Company and Dime entered
into an Agreement and Plan of Merger, pursuant to which Dime will
merge with and into the Company, and Dime Community Bank will merge
with and into BNB Bank. Following the merger, the Company
will operate under the name “Dime Community Bancshares, Inc.” and
BNB Bank will operate under the name “Dime Community Bank.” All
shareholder and regulatory approvals have been obtained for the
transaction, and the merger is expected to close effective February
1, 2021.
Bridge Bancorp, Inc
Investor Relations Contact
John M. McCafferyExecutive Vice President –
Chief Financial OfficerPhone: 631-537-1001; Ext. 7290Email:
jmccaffery@bnbbank.com
Dime Community Bancshares,
Inc.
Investor Relations Contact:
Avinash ReddySenior Executive Vice President –
Chief Financial OfficerPhone: 718-782-6200; Ext. 5909Email:
areddy@dime.com
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