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Bridge Bancorp: 3Q Earnings Snapshot

·1 min read

BRIDGEHAMPTON, N.Y. (AP) _ Bridge Bancorp Inc. (BDGE) on Tuesday reported third-quarter net income of $13.1 million.

The bank, based in Bridgehampton, New York, said it had earnings of 66 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, were 77 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.

The bank holding company posted revenue of $53.1 million in the period. Its revenue net of interest expense was $47.5 million, also beating Street forecasts.

Bridge Bancorp shares have decreased 43% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $19.18, a drop of 41% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BDGE at https://www.zacks.com/ap/BDGE