Bridge Bancorp Inc. Announces Stock Repurchase
Bridgehampton, NY October 17th, 2000
Bridge Bancorp Inc., (the "Company") (NASDAQ/OTC:BDGE), the holding company for
The Bridgehampton National Bank (the "Bank"), announced that its Board of
Directors approved a stock repurchase. The Company has purchased 20,000 shares
on the open market, which represents approximately .5% of the Company's
4,237,597 outstanding shares.
Thomas J. Tobin, President and Chief Executive Officer stated that the Board of
Directors and management are committed to growing long term value for the
Company stockholders and believe the repurchase of common stock represents a
sound investment of Company funds. The repurchased shares will be used for
general corporate purposes.
The Bridgehampton National Bank is the oldest independent commercial bank
headquartered on the South Fork of Long Island. The Bank operates retail
branches in Bridgehampton, East Hampton, Greenport, Mattituck, Montauk,
Southampton, Southampton Village, and Southold. BNB's ninth branch office, which
will open later this year, will be located on the corner of Bay Street and
Division Street, in Sag Harbor. The Bridgehampton National Bank is locally
directed and managed and is a member of the Independent Bankers Association of
America, the Independent Bankers Association of New York State and the Federal
Deposit Insurance Corporation. Bridgehampton National Bank is an Equal Housing
Lender and an Equal Opportunity Employer.
This release may contain certain forward-looking statements that are based on
management's current expectations regarding economic, legislative, and
regulatory issues that may impact the Company's earnings in future periods.
Factors that could cause future results to vary materially from current
management expectations include, but are not limited to, general economic
conditions, changes in interest rates, deposit flows, real estate values, and
competition; changes in accounting principles, policies or guidelines; changes
in legislation or regulation; and other economic, competitive, governmental,
regulatory and technological factors affecting the Company's operations,
pricing, products and services.
