BRIDGEHAMPTON, N.Y. and BROOKLYN, N.Y., Dec. 03, 2020 (GLOBE NEWSWIRE) -- Bridge Bancorp, Inc. (Nasdaq: BDGE), the parent company of BNB Bank, and Dime Community Bancshares, Inc. (Nasdaq: DCOM), the parent company of Dime Community Bank, today jointly announced that at separate special meetings held today, each company’s shareholders approved the proposed merger of equals.

Kevin O’Connor, BNB Bank’s President and CEO, stated, “We are pleased our shareholders clearly see the value of the proposed merger with Dime and understand the tremendous opportunities that will be created when two of New York’s leading community banks combine.”

“Today’s vote was an important milestone as we work towards a successful closing of the transaction”, said Kenneth J. Mahon, Dime’s CEO. “I look forward to collaborating with the merged Company’s CEO Kevin O’Connor and the Board of Directors to continue to build a stronger company to serve all of our shareholders and stakeholders in the New York metropolitan market.”

As previously disclosed, the parties have received the required regulatory approval from the Board of Governors of the Federal Reserve System to merge Dime Community Bank with and into BNB Bank. In addition, the Federal Reserve Bank of New York has issued its non-objection to waive the requirement of the filing of a Bank Holding Company Act application in connection with the merger of Bridge and Dime. The parties have filed an application with New York State Department of Financial Services to merge Dime Community Bank with and into BNB Bank, which is pending.

The merger is expected to close in early first quarter of 2021, subject to satisfaction of customary closing conditions, including receipt of all regulatory approvals.

About Bridge Bancorp, Inc.

Bridge Bancorp, Inc. is a bank holding company engaged in commercial banking and financial services through its wholly-owned subsidiary, BNB Bank. Established in 1910, BNB, with assets of approximately $6.3 billion, operates 39 branch locations serving Long Island and the greater New York metropolitan area. Through its branch network and its electronic delivery channels, BNB provides deposit and loan products and financial services to local businesses, consumers and municipalities. Title insurance services are offered through BNB's wholly-owned subsidiary, Bridge Abstract. Bridge Financial Services, Inc., a wholly-owned subsidiary of BNB, offers financial planning and investment consultation. For more information visit www.bnbbank.com.

BNB also has a rich tradition of involvement in the community, supporting programs and initiatives that promote local business, the environment, education, healthcare, social services and the arts.

About Dime Community Bancshares, Inc.

Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered community commercial bank that was founded in 1864. Dime Community Bank is headquartered in Brooklyn, NY and operates 28 banking offices located throughout Brooklyn, Queens, the Bronx, Nassau and Suffolk Counties, New York. More information on Dime Community Bancshares, Inc. and Dime Community Bank can be found on Dime's website at www.dime.com.