Business Briefs, August 15

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Attorney Joins FirmBernadette Tuthill, Esq., has joined Riverhead-based law firm Twomey, Latham, Shea, Kelley, Dubin & Quartararo LLP, as an associate attorney. Ms. Tuthill’s practice focuses on the areas of estate administration, estate planning and taxation, corporate law, elder law, and guardianships.

Ms. Tuthill’s prior estate administration and estate tax experience includes estates in excess of $10 million that have included closely held businesses, real estate holdings, life insurance, securities and retirement holdings, and trusts. Her prior estate planning experience included handling plans with multi-tiered entities, real estate holdings, securities and multiple trusts with gifting in excess of $8 million.

Ms. Tuthill graduated summa cum laude from Touro College’s Jacob D. Fuchsberg Law Center in 2010, where she was note and comment editor of the Touro Law Review. She received her Bachelor of Science degree in Business Management from Ithaca College in 1996, is admitted to practice law in the State of New York, and is a member of the New York State Bar Association and the Suffolk County Bar Association.

Paraco Gas Acquires AmeriGasParaco Gas Corporation officials have announced that the company has acquired the Long Island customer base of AmeriGas. The acquisition will affect residential, commercial and industrial customers in East Hampton, Southampton, Westhampton and all other villages, hamlets and towns on southeastern Long Island.

With the acquisition, Paraco Gas will now have 40,000 customers in Suffolk and Nassau counties, including 12,000 customer accounts purchased from AmeriGas.

“Paraco Gas has been serving propane customers on Long Island for over 35 years,” said Paraco Gas CEO Joseph Armentano, adding, “We have expanded our customer base through both organic growth and numerous acquisitions. Paraco is large enough to provide the best value in propane products and services; yet, because we are driven by our family-owned and -operated principles, we are able to serve our customers with the highest-quality personal service and attention.”

Paraco Gas is involved in supporting numerous organizations on Long Island including the Long Island Walk for Breast Cancer, Give 2 The Troops Foundation, and Nassau County Fire Academy, among many other civic, youth and community groups.

“We look forward to welcoming our new AmeriGas customers into the Paraco family and further extending our community outreach support programs throughout Suffolk and Nassau counties,” said Mr. Armentano.

Paraco Gas, the largest independent propane retailer in the Northeast, provides more than 50 million gallons of propane annually to more than 90,000 residential, commercial and industrial customers in nine states. The company operates 29 propane distribution facilities, including the three on Long Island, and employs more than 300 workers.

Macy’s Partners With RetreatThe Retreat of East Hampton will partner with Macy’s for its eighth annual “Shop For a Cause” event on Saturday, August 24. To participate in the one-day sale, customers can purchase a shopping pass from The Retreat for $5. The pass will entitle customers to 25 percent off regular, sale and clearance merchandise, and 10 percent off watches, furniture, mattresses and area rugs.

“This is an opportunity that gives back in so many ways,” said Jeffrey Friedman, executive director of The Retreat. “Most importantly, every $5 pass that community members buy will directly help women and children survivors of family violence to increase their safety and well-being through the support of our counseling, advocacy and shelter programs. We are grateful to Macy’s for investing back in our communities.”

For more info, call The Retreat at (631) 329-4398, or visit macys.com/shopforacause.

Montauk Staple Opens Beach Club

Gurney’s Inn Resort & Spa in Montauk has announced the launch of its brand new beach club. The Beach Club at Gurney’s Inn, which is said to be reminiscent of the original European beach clubs, occupies 1,100 feet of private beach. The beach club offers a variety of amenities including lounge furniture, wine and cocktails, freshly caught seafood, and a raw bar. It also will have a resident DJ on Friday and Saturday, and live music on Sunday nights.

“We are excited to embark on the next evolution of Gurney’s Inn with the launch of the Beach Club,” says Paul Monte, general manager of Gurney’s Inn Resort & Spa. “The unparalleled setting of the property allows us to offer something new and exciting that was previously unavailable in the Hamptons.”

The Beach Club at Gurney’s Inn opens daily at 11 a.m.. Gurney’s Inn Resort & Spa is located at 290 Old Montauk Highway in Montauk. For reservations or more information, call (631) 668-2345.

Southampton Law Firm OpensSouthampton attorneys Richard S. Fernan and Robert M. Fischette have joined forces and formed the law firm of Fernan & Fischette, LLP.

The firm’s office is located at 320 Hampton Road in Southampton, and its practice areas include residential and commercial real estate, residential and commercial leases, land use and zoning, traffic violations, and other various areas.

Mr. Fernan is a graduate of Georgetown University Law Center, and Mr. Fischette is a graduate of New York Law School, and the two have been practicing on the East End for a collective 45 years.

For more information, visit www.fernan-fischette.com, or call (631) 283-3510.

Banks Posts 2nd Quarter NumbersBridge Bancorp Inc., the parent company of Bridgehampton National Bank, has reported second-quarter figures for 2013.

Highlights include a report of net income totaling $3.3 million and 36 cents per share, a 6-percent increase in net income over the same quarter of 2012. Returns were reported on average assets and equity of 0.79 percent and 10.74 percent, respectively. Net interest income of $12.3 million was reported for the second quarter, representing an increase of $500,000 over the same quarter of 2012, with a net interest margin of 3.23 percent. Total assets of $1.73 billion were reported at the close of June, an increase of 23 percent from the same time the previous year.

“During the second quarter of 2013, we continue to realize benefits from our strategic initiatives: strong growth in loans and core deposits with increased net interest income and net income. Our increased scale offsets the lower net interest margins associated with the increasingly challenging interest rate environment,” commented Bridge Bancorp Inc. President and Chief Executive Officer Kevin M. O’Connor.

Loans exceeded $900 million, with growth of $222 million, or 33 percent, compared to figures reported in June 2012. Deposits of $1.46 billion were noted, an 18-percent increase compared to the second quarter of 2012. Tier 1 Capital increased by $15.3 million or 12 percent from the previous year.

Declared quarterly dividends of 23 cents per share were reported as of the close of July.

Firm Moves To Water MillThe law firm of Farrell Fritz has recently moved its East End office from Bridgehampton to a larger space in Water Mill. The new space is located at 50 Station Road, Building 1.

The firm is represented by partners Brian C. Doyle, George J. Farrell Jr. and David J. Gilmartin Jr.; counsels Eric Bregman, Kelly M. Canavan, David J. Gilmartin Sr. and Theresa K. Quigley; and associate Robert M. Connelly. It offers a full range of legal services, from bankruptcy and creditors’ rights to real estate law.

Security Company AcquisitionA nationwide security company, My Alarm Center LLC, recently announced the acquisition of Hamptons-based Security Communications Audio Network Corporation (SCAN). My Alarm Center plans to maintain a regional branch office and the existing staff for all local servicing needs.

“I have a very personal connection to the Hamptons, so I understand firsthand the significance of local, high-quality service in this community,” said My Alarm Center president and chief executive officer Amy Kothari. “As a result of this transaction, SCAN’s customers are in a unique position; they can leverage My Alarm Center’s high-tech home security and automation tools and online account management options while still receiving the same great service from knowledgeable, local technicians.”

For more information visit MyAlarmCenter.com.

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