BRIDGE BANCORP, INC. (NASDAQ:BDGE) Files An 8-K Other Events
Item 8.01.
On January 18, 2017, Bridge Bancorp, Inc. (the Company) completed
the redemption of the 8.50% Cumulative Convertible Trust
Preferred Securities, liquidation amount $1,000 per preferred
security (the TPS), issued by Bridge Statutory Capital Trust II,
a subsidiary of the Company. As of the December 15, 2016 notice
of redemption in full of the TPS, there were 15,800 shares of TPS
outstanding, representing an aggregate liquidation amount of
$15,800,000. Following the notice of redemption, 15,450 shares of
the TPS, representing $15,450,000 in aggregate liquidation
amount, were converted into shares of common stock of the
Company, at the exchange rate of 34.4828 shares of common stock
per share of TPS, which resulted in the issuance of a total of
532,740 shares of Company common stock. $350,000 in aggregate
liquidation amount of the TPS were redeemed as of January 18,
2017 at the liquidation amount plus accrued but unpaid interest
until but not including the date of redemption.
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Item 9.01
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Financial Statements and Exhibits
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(a)
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Financial Statements of Businesses Acquired.Not applicable.
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(b)
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Pro Forma Financial Information.Not applicable.
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(c)
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Shell Company Transactions.Not applicable.
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About BRIDGE BANCORP, INC. (NASDAQ:BDGE)
Bridge Bancorp, Inc. is a bank holding company for The Bridgehampton National Bank (the Bank). The Bank engages in commercial and consumer banking business, including accepting time, savings and demand deposits from the consumers, businesses and local municipalities surrounding its branch offices. These deposits, together with funds generated from operations and borrowings, are invested primarily in commercial real estate loans; multi-family mortgage loans; home equity loans; construction loans; residential mortgage loans; secured and unsecured commercial and consumer loans; Federal Home Loan Bank (FHLB), Federal National Mortgage Association (FNMA), Government National Mortgage Association (GNMA) and Federal Home Loan Mortgage Corporation (FHLMC) and non-agency mortgage-backed securities, collateralized mortgage obligations and other asset backed securities; New York State and local municipal obligations, and the United States government sponsored entity (U.S. GSE) securities. BRIDGE BANCORP, INC. (NASDAQ:BDGE) Recent Trading Information
BRIDGE BANCORP, INC. (NASDAQ:BDGE) closed its last trading session up +0.07 at 36.77 with 53,219 shares trading hands.