Oct 9 - Bridge Bancorp Inc. (Nasdaq: BDGE) has completed its previously announced public offering of common stock. The company sold 1,926,250 shares of common stock at a price of $20.75 per share, for gross proceeds of approximately $40 million, which include 251,250 shares sold pursuant to the option granted to the underwriters. The net proceeds of the offering, after deducting underwriting discounts and commissions and offering expenses, were approximately $37.5 million. The purpose of the offering was in part to provide additional capital to Bridge Bancorp to support its acquisition of FNBNY Bancorp Inc. and for general corporate purposes.
RBC Capital Markets, LLC acted as sole book-running manager and Sandler O'Neill + Partners, L.P. was co-manager for the offering.
About Bridge Bancorp Inc.
Bridge Bancorp Inc. is a bank holding company engaged in commercial banking and financial services through its wholly owned subsidiary, The Bridgehampton National Bank. Established in 1910, the bank, with assets of approximately $1.7 billion and a primary market area of Suffolk County, Long Island, operates 23 retail branch locations. Through this branch network and its electronic delivery channels, it provides deposit and loan products and financial services to local businesses, consumers and municipalities. Title insurance services are offered through the bank's wholly owned subsidiary, Bridge Abstract. Bridge Investment Services, a division of the bank, offers financial planning and investment consultation. On Sept. 27, 2013, the company entered into a definitive agreement to acquire FNBNY Bancorp Inc. and its wholly owned subsidiary, the First National Bank of New York. For more information about the company, visit www.bridgenb.com.