Bridge Bancorp, Inc. the parent company of The Bridgehampton National Bank, announced record core net income in 2015, the company announced Jan. 29.
The bank had record core net income for both the year and the fourth quarter of operations, it said in a press release. Core net income jumped 49 percent in 2015 over 2014 and was up 75 percent in the fourth quarter compared to the same period in 2014.
“This was a successful and transformative year for BNB,” said Bridge Bancorp president and CEP Kevin O’Connor. “We delivered sizable increases in net income, earnings per share, and many other financial results. Our scale and reach grew organically and through the acquisition of Community National Bank as we added new customers and expanded relationships, increasing loans and deposits and creating a branch network stretching from Montauk to Manhattan.”
Total assets of the bank grew to $3.8 billion at year-end, 65 percent higher than 2014. Loans exceeded $2.4 billion at year-end. Deposits were $2.84 billion at year end, a 55-percent increase compared to 2014.
The bank declared a dividend of 23 per share during the fourth quarter.
“These milestones were the result of our BNB team delivering on our board’s vision, coupled with a resilient economy and customers and business partners who have a shared vision for success. We are proud of the 2015 achievements and poised to deliver on the challenges of 2016 and beyond,” O’Connor, said in a press release announcing the results.
