Bridge Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Twelve Months Ended December 31, 2015; Realizes Net Charge-Offs for the Fourth Quarter of 2015
January 29, 2016 at 01:00 pm
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Bridge Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and twelve months ended December 31, 2015. For the quarter, the company reported net interest income of USD 27.904 million compared to USD 17.737 million a year ago. Income before income taxes was USD 12.142 million compared to USD 6.564 million a year ago. Net income was USD 7.995 million compared to USD 4.168 million a year ago. Basic and diluted earnings per share was USD 0.46 compared to USD 0.36 a year ago. Return on average total assets was 0.88% compared to 0.73% a year ago. Return on average stockholders' equity was 9.27% compared to 9.16% a year ago. Return on average tangible stockholders' equity was 13.33% compared to 9.78% a year ago. Core return on average total assets was 0.94% compared to 0.85% a year ago. Core return on average stockholders' equity was 9.89% compared to 10.72% a year ago. Core return on average tangible stockholders' equity was 14.56% compared to 11.53% a year ago.
For the twelve months, the company reported net interest income of USD 96.111 million compared to USD 67.450 million a year ago. Income before income taxes was USD 31.889 million compared to USD 21.002 million a year ago. Net income was USD 21.111 million compared to USD 13.763 million a year ago. Basic and diluted earnings per share was USD 1.43 compared to USD 1.18 a year ago. Return on average total assets was 0.71% compared to 0.64% a year ago. Return on average stockholders' equity was 7.91% compared to 7.76% a year ago. Return on average tangible stockholders' equity was 10.23% compared to 8.25% a year ago. Core return on average total assets was 0.92% compared to 0.85% a year ago. Core return on average stockholders' equity was 10.23% compared to 10.31% a year ago. Core return on average tangible stockholders' equity was 13.47% compared to 11.08% a year ago.
The company realized net charge-offs of USD 0.4 million in the fourth quarter of 2015 compared to net recoveries of USD 0.1 million in 2014.
Dime Community Bancshares, Inc. is a bank holding company. The Company is engaged in providing commercial banking and financial services through its wholly owned subsidiary, Dime Community Bank (the Bank). It is engaged in providing full-service commercial and consumer banking services, including accepting time, savings and demand deposits from the businesses, consumers, and local municipalities. It also offers the Certificate of Deposit Account Registry Service (CDARS) and Insured Cash Sweep (ICS) programs. In addition, it offers merchant credit and debit card processing, automated teller machines, cash management services, lockbox processing, online banking services, remote deposit capture, safe deposit boxes, and individual retirement accounts as well as investment services through Dime Financial Services LLC. Through its title insurance subsidiary, the Bank acts as a broker for title insurance services. It operates 60 branch locations throughout Long Island and the New York City.
Bridge Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Twelve Months Ended December 31, 2015; Realizes Net Charge-Offs for the Fourth Quarter of 2015