BRIDGEHAMPTON, N.Y., Oct. 23, 2012 (GLOBE NEWSWIRE) -- Bridge Bancorp, Inc. (Nasdaq:BDGE), the parent company of The Bridgehampton National Bank, today announced net income and earnings per share for the third quarter of 2012. Highlights for the quarter include:
- Net income of $3.4 million and $.39 per share for the quarter, a 21% increase in net income over 2011.
- Returns on average assets and equity of .93% and 12.11%, respectively.
- Net interest income of $11.8 million, an increase of $0.3 million over 2011, with a net interest margin of 3.55%.
- Total assets of $1.57 billion at September 2012, 22% higher than September 2011.
- Loans of $732.5 million, 22% higher than September 2011.
- Deposits of $1.31 billion, 14% higher than September 2011.
- Continued solid asset quality metrics and increased reserve coverage.
- Tier 1 Capital increased by $38 million or 41% from September 2011.
- Quarterly dividend of $.23 per share declared.