This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Bridge Bancorp, Inc. Reports Fourth Quarter And Year End 2012 Results

Stocks in this article: BDGE

"During the fourth quarter of 2012, loans increased $66 million or 36% on an annualized basis. Much of this growth occurred in December, as customers were anxious to close, prior to year end due to uncertainty around the potential "Fiscal Cliff" and future income tax rates," noted Mr. O'Connor.

Asset quality measures remained strong as non-performing assets ("NPA") at December 2012 declined 15% to $3.5 million from $4.2 million at December 2011. This represents only 0.22% of total assets, compared to 0.31% at December 2011. For 2012, the allowance for loan losses increased $3.6 million to $14.4 million. The allowance as a percentage of total loans at December 2012 remained stable at 1.81% compared to 1.77% at December 2011.

Stockholders' equity grew $11.7 million to $118.7 million, reflecting the capital raised through the Dividend Reinvestment Plan, as well as continued earnings growth, net of dividends. Overall, Tier 1 capital increased to $132.9 million or 12% higher than the December 2011 level. In addition, the Company's capital levels reflect five dividend payments to shareholders in 2012, as the payment of the fourth quarter 2012 dividend was accelerated and paid in December. The Company's capital ratios exceed all regulatory minimums, and it continues to be classified as well capitalized.

Challenges & Opportunities

"Five years after the financial crisis, the Banking environment remains uncertain, as we deal with the fallout from both regulatory activity and the economic impact of decisions made during and subsequent to the crisis. The costs, in terms of compliance and greater capitalization, continue impacting shareholder expectations and returns. Additionally, the persistently low level of market interest rates has created opportunities for borrowers, but substantial challenges for banks and other financial intermediaries. The eventuality of rising rates is arguably our industry's greatest challenge and threat, creating margin pressures and ultimately impacting credit, as businesses adjust and manage with potentially higher borrowing costs. The credit environment appears to be stabilizing and our Company and many of our customers avoided significant damage from the effects of Hurricane Sandy, however, the continued confidence of consumers and businesses remains critical to future economic activity.

3 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs