Bridge Bancorp, Inc., the holding company for the Bridgehampton National Bank, has filed an application to list its stock on the NASDAQ Global Select Market.
The stock is currently listed on the Over the Counter (OTC) Bulletin Board, a subscription-based listing service for stocks that are not listed on a national securities exchange.
If the application is approved, the bank’s stock will no longer be traded over the counter.
“We are excited at the prospect of listing our company with NASDAQ,” said Kevin O’Connor, the president and CEO of Bridge Bancorp. “This stock market promotes innovation, and we expect our shareholders to benefit from its premier technology, making trading faster and more efficient.”
Bridgehampton National Bank also released its first quarter earnings statement last week. The bank saw net income of $2 million, or 32 cents per share, which is a 10.3-percent increase over the same quarter last year. The bank also declared a regular dividend of 23 cents per share.
The bank also showed a return on ?average equity of 15 percent and a return on assets of 1.25 percent. Interest income rose from $5.7 million in the first quarter of 2007 to $6.6 million this quarter.
The bank also saw a 6.3-percent increase in deposits, with a total of $573.8 million and a 15.2 percent increase in demand deposits, which totalled $205.2 million. The bank also loaned 15.3 percent more money than during the same period last year for a total of $384.8 million.