Bridge Bancorp Inc. Announces Stock Repurchase Program.Business Editors BRIDGEHAMPTON, N.Y.--(BUSINESS WIRE)--Feb. 22, 2001 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 Stock repurchase A firm's repurchase of outstanding shares of its common stock. program. The Company will be commencing a program to repurchase up to 5% of its common shares outstanding from time to time in the open market or through private purchases, depending on market conditions. The repurchased shares will be used for general corporate purposes. Commenting on the stock repurchase program, Thomas J. Tobin, President and Chief Executive Officer stated, "We have chosen to utilize our capital for this repurchase program as we believe that the Company's current market price does not fully reflect the Company's true long-term value and income potential. In addition, the Company's capital position permits this sound investment of Company funds." The Bridgehampton National Bank is the oldest independent commercial bank headquartered on the South Fork South Fork may refer to:
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State and the Federal Deposit Insurance Corporation Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. . Bridgehampton National Bank is an Equal Housing Lender The terms Equal Housing Lender and Equal Opportunity Lender are synonymous and refer to all FDIC insured banks in the United States. Such banks are prohibited from discriminating on the basis of race, color, religion, national origin, sex, handicap, or familial status. and an Equal Opportunity Employer equal opportunity employer An employer or enterprise that does not discriminate against a job candidate, or subject him/her to adverse exclusionary criteria, based on race, sex, religion, or national origin. See Equal employment opportunity. . 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. |
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