Fourth Quarter Earnings Announced
Suffolk Bancorp, the holding company for Suffolk County National Bank, announced its fourth quarter earnings at 41 cents per share, a decrease of 21.1 percent from 54 cents during the comparable period of 2009. Net income was $4,008,000, down 22.2 percent from $5,153,000 during the fourth quarter of 2009. Earnings per share for the year to date was $1.56, with a net income of $15,020,000, down 33.6 percent from $2.35, or $22,548,000, a year ago.
Gaines Secures Certification
East Hampton native Michael S. Gaines, founder and president of CW Arborists, recently completed the Board Certified Master Arborist examination as administered through the International Society of Arboriculture (ISA) and the local chapter of the ISA. It is a designation of professional competency that’s valid for three years.
The ISA Certification Program is designed to assist the public in identifying those professionals in arboriculture who have demonstrated, through a professionally developed examination and education program, an extensive knowledge of tree care practices. According to the ISA, those who successfully complete the program have a higher level of knowledge and standard of practice within the tree care profession.
In 2006, Mr. Gains made the decision to become a certified arborist because of what he felt had been a lack of respect for the East End’s urban forest and arboriculture. According to Mr. Gaines, environmental conservation starts with education; therefore, he attends several seminars each year to keep up to date on the standards and science in the tree care industry.
In 1998, he established CW Arborists, which is based in East Hampton and services residential and commercial properties across Long Island. It is a licensed and insured professional arboricultural company that focuses on conservation while specializing in sensible tree care and environmental health. For more information, call (631) 324-6138 or visit CWarborists.com.
GeekHampton of Hampton Bays is the recipient of the 2011 Commitment To Excellence Award from Apple, which recognizes the top 10 percent of Apple’s authorized service providers in both Canada and the United States. According to Apple, GeekHampton is now among an elite group of service providers that utilize the best practices to provide outstanding customer service and support.
GeekHampton is a Macintosh Computer Services Company with more than 20 years of combined experience in using and fixing computers. An authorized service provider and authorized reseller of Apple products, GeekHampton provides on-site service throughout the East End.
GeekHampton is owned by Sheryl Heller and Mike Avery, and their staff includes Amy O’Donnell Rajs, John Theret, Daniel Schumacher and Meaghen Damato. According to the company, all staffers have worked diligently to earn this prestigious award. For more information, call (631) 723-3660, e-mail email@example.com or visit GeekHampton.com.
Bridgehampton National Bank recently announced the promotions of Chief Lending Officer Kevin L. Santacroce and Chief Retail Banking Officer James J. Manseau. Both are now executive vice presidents.
According to BNB President and Chief Executive Officer Kevin M. O’Connor, both Mr. Santacroce and Mr. Manseau have played critical roles in the bank’s success and will continue to do so in the future.
Mr. Santacroce joined BNB as a commercial loan officer in 1997 and was promoted to senior banking officer of the East Hampton/Montauk region in 1998. He was quickly promoted to vice president of the bank’s credit administration and, by 2003, was named senior vice president and chief credit officer. He was promoted to chief lending officer in 2005. Mr. Santacroce graduated with distinction in 2000 from the American Bankers Association’s Stonier Graduate School of Banking. He holds a bachelor’s degree in business administration from Bryant University in Smithfield, Rhode Island, where he graduated magna cum laude in 1990. A member of the Risk Management Association for Commercial Banks, he currently serves on the board of trustees of Timothy Hill Children’s Ranch in Riverhead and resides in Southold with his wife and four children.
Mr. Manseau boasts more than 25 years of banking experience in the Long Island business community. He joined BNB in 2008, having previously served in many roles at North Fork Bank/Capital One, including divisional senior vice president when he had 10 districts and 120 branches under his supervision. Mr. Manseau received his associate degree in business administration from SUNY at Farmingdale. Mr. Manseau, his wife and their two children live in Rocky Point. He is active in the community, serving as treasurer of the St. Anthony’s CYO Council and president of the Tides Homeowners Association.
Quarterly Dividends Announced
Suffolk Bancorp, the holding company for Suffok County National Bank, reported a regular quarterly dividend of 15 cents per share payable on January 6 to all shareholders of record as of December 30, 2010.
Bridge Bancorp, the holding company for The Bridgehampton National Bank, declared a quarterly dividend of 23 cents per share payable on January 13 to shareholders of record as of December 30, 2010.
Blue Duck At Whole Foods
The Blue Duck Bakery Café has been selected as the supplier of European inspired artisan breads by the Northeast Region of the Whole Foods Market. The breads will be available immediately at Whole Foods Market locations throughout Long Island and Manhattan.
The Blue Duck Bakery Café is family-owned, established by the Kouris family in Southampton in 1999. The bakery is headed up by master baker Keith Kouris, who has more than 30 years’ experience and is a graduate of the French Culinary Institute’s International Bread Baking Program. In 2008, the family opened a second location in Southold.
The Kouris family found their niche in artisan breads, which are created by hand in the centuries-old tradition of European bakers. They have been delivering fresh artisan breads seven days a week to restaurants, markets and grocers across Long Island, Brooklyn, and Manhattan. The Whole Foods Market will initially provide its customers with a signature line of German rye breads and will also have access to the entire line of The Blue Duck Bakery Café’s artisan breads, including the popular Pain de Chocolat.
For more information, call 629-4125, e-mail Keith@blueduckbakerycafe.com, or visit wholefoodsmarket.com.
Mendel Returns To Accounting
Certified public accounting firm Sabel & Oplinger in Southampton announced Mary Ann (née Brevoort) Mendel as its new director of non-profits.
Ms. Mendel formerly worked with the firm as a staff accountant from June 1996 to March 2001 and for the past 10 years has been working as an assistant controller for a large not-for-profit organization.
For more information about Sabel & Oplinger, the East End’s oldest accounting and consulting firm, visit socpapc.com.
New Attorney Added
Twomey, Latham, Shea, Kelley, Dubin & Quartararo LLP, announced that Reza Ebrahimi has joined the Riverhead based firm as an associate.
A 2000 graduate of the University of California at Los Angeles, with a bachelor’s degree in political science, with a concentration in International Relations, Mr. Ebrahimi received his law degree from Brooklyn Law School in 2005. During law school, he worked as a law clerk at the New York State attorney general’s office in both the Securities and Real Estate Investment Protection bureaus. He also clerked at the New York City office of the State Department of Environmental Conservation.
Most recently, Mr. Ebrahimi worked in the private sector at law firms in Manhattan and Syosset and is currently engaged in a general practice. His law focus has ranged from residential and commercial real estate, estate administration and probate, landlord-tenant law, commercial litigation and business transactions, to environmental law and compliance, contract negotiation and drafting, appeals, collections, and administrative law/hearings. Mr. Ebrahimi is admitted to practice law in New York State and is a member of the New York State Bar Association.
Twomey, Latham, Shea, Kelley, Dubin & Quartararo LLP now has 24 attorneys and a staff of more than 30, providing a full range of legal services including commercial litigation, zoning and land use, real estate and corporate transactions, estate planning and administration, elder law, municipal law, environmental law, copyright and trademark law, mediation, matrimonial and family law. The firm has additional office locations in East Hampton, Hauppauge, Southampton and Southold.
Meets Modern Green
Farrell Building Company and Modern Green Home have launched a new partnership, Gaia Building, to fill the demand for experience in the rapidly emerging green building industry.
Based in Bridgehampton, Gaia Building will operate as a full-service construction outfit specializing in green building technology. Gaia offers consulting services to both architects and homeowners and can help clients pursue Leadership in Energy and Environmental Design certification. Also, existing architectural plans, whether for ground up construction or renovations, can be adapted toward more responsible means both in material choices and/or systems configuration by the company’s on-staff architect.
Employing an architect on staff ensures that the designs of experienced architects who are familiar with sustainable design will be professionally executed by a team familiar with the cutting edge materials and systems; and that typical architects’ and designers’ visions are executed in the precise manner in which they were intended.
Building homes on the East End since 1996 under founder Joe Farrell, the Farrell Building Company crew will be on hand for any construction needs. The design collaborative and industry expertise services of Modern Green Home—founded in 2006 by visual artist Peter Sabbeth, creator of the Hamptons Cottages and Gardens 2008 Designer Showcase House—will also be available.
Gaia Building has six construction projects scheduled for spring 2011. For more information call 537-1068 or visit GaiaBuilding.com.
Fourth Quarter Earnings Announced
Bridge Bancorp, the parent company of The Bridgehampton National Bank, announced its fourth quarter
earnings at 38 cents per share, an increase of 9 percent from the comparable period of 2009. Net income was $2.4 million, up 9 percent from the fourth quarter of 2009. Earnings per share for the year to date was $1.45, with a net income of $9.2 million, an increase of 3 percent from $1.41 per share, a year ago. These results reflect growth in both net interest and non-interest income and lower levels of provisions for loan losses. Revenue growth was partially offset by higher operating costs.
The total assets of $1.03 billion at December 31 were 15 percent higher than last year and average assets increased over 17 percent in 2010, as deposit growth in both new and existing branches provided funding for investment and lending. Loans increased $24 million during the fourth quarter, an annualized growth rate of approximately 21 percent. As a result, average loan growth for the year was 6 percent as compared to 13 percent measured by the change in loan balances from December 31, 2009 to December 31, 2010.
Total deposits have increased by $123.5 million of 16 percent to $917 million at December 31. Demand deposits remain a significant source of funding, representing over 26 percent of deposits. Deposit growth occurred in all markets and during 2010, core deposits, identified as retail and commercial deposits, increased 14 percent or $90.2 million to $722.1 million.