BRIDGEHAMPTON, N.Y., Oct. 25, 2013 (GLOBE NEWSWIRE) -- Bridge Bancorp, Inc. (Nasdaq:BDGE), the parent company of The Bridgehampton National Bank (BNB), today announced third quarter results for 2013. The Company's reported net income and earnings per share for the quarter ended September 30, 2013 was $3.1 million or $.34 per share including $0.3 million in acquisition costs, net of tax, associated with the proposed merger of FNBNY Bancorp and its wholly owned subsidiary, the First National Bank of New York (collectively "FNBNY") announced on September 30, 2013. Highlights of the Company's quarterly financial results include:
- Core net income of $3.4 million and $.37 per share, a 1% increase in net income over 2012.
- Core returns on average assets and equity of .77% and 10.69%, respectively.
- Net interest income of $13.0 million, an increase of $1.2 million over 2012, with a net interest margin of 3.21%.
- Total assets of $1.7 billion at September 2013, 9% higher than September 2012.
- Loans aggregating $933 million, with growth of $201 million or 27%, compared to September 2012.
- Deposits of $1.46 billion, an 11% increase compared to the third quarter of 2012.
- Continued solid asset quality metrics and reserve coverage.
- Tier 1 Capital increased by $15.3 million or 12% from September 2012.
- Declared quarterly dividend of $.23 per share in October 2013.