Bank coming to Island declares 4th Q dividend

JULIE LANE PHOTO | Location on Route 114 where Bridge Bancorp will debut next year.

Bridge Bancorp, the holding company for Bridgehampton National Bank, scheduled to open a branch on Route 114 in 2013,  declared a quarterly cash dividend of 23 cents per share payable on December 21 to shareholders of record as of December 10.

“Given our strong capital levels and the likelihood of a change in the tax rates on dividends beginning next year, we believe it is prudent to accelerate the timing of the payment of our fourth quarter dividend,” said  president and CEO Kevin O’Connor in a written statement.

Bridge Bancorp has assets of about $1.6 billion in its primary Suffolk County market area. The Shelter Island branch is slated for Boltax Gallery building .

The bank operates 21 retail branch locations in Suffolk Country, including a recently opened branch in Ronkonkoma near MacArthur Airport.