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Bridge Bancorp: 4Q Earnings Snapshot

·1 min read

BRIDGEHAMPTON, N.Y. (AP) _ Bridge Bancorp Inc. (BDGE) on Thursday reported fourth-quarter net income of $9 million.

The Bridgehampton, New York-based bank said it had earnings of 45 cents per share. Earnings, adjusted for one-time gains and costs, came to 75 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.

The bank holding company posted revenue of $52.9 million in the period. Its revenue net of interest expense was $48.4 million, which also topped Street forecasts.

For the year, the company reported profit of $42 million, or $2.11 per share. Revenue was reported as $180.5 million.

Bridge Bancorp shares have increased 15% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $27.83, a fall of 12% 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