Though Bridge is the legal acquirer, Dime’s shareholders will own 52% of the company, which will operate as Dime. Fitch Affirms Dime Community at 'BBB' on Merger with Bridge Bancorp; Outlook Remains Negative Mon 06 Jul, 2020 - 10:25 AM ET Fitch Ratings - New York - 06 Jul 2020: Fitch Ratings has affirmed the Long-Term Issuer Default Rating (IDR) of Dime Community Bancshares, Inc. (DCOM) at 'BBB' following the announcement of a proposed merger of … The definitive Joint Proxy Statement/Prospectus will be mailed to shareholders of Dime. Raymond James is acting as financial advisor, and has rendered a fairness opinion to the board of directors of Dime. AT&T investors are on the run after the company shocked Wall Street by unloading its WarnerMedia division to Discovery. Compared with a previous ban issued in 2017, the new rules greatly expanded the scope of prohibited services, and judged that "virtual currencies are not supported by any real value". Luse Gorman, PC is serving as legal counsel to Bridge. Commerzbank expects the EU will sell as much as 15 billion euros of bonds. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Each outstanding share of Dime’s 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A will be converted into the right to receive one share of a newly created series of preferred stock of Bridge with the same preferences and rights. Creates a Bank with Dominant Market Share: The combined company will have a highly complementary branch network with limited existing customer overlap, and will be well positioned to increase market share from regional and money-center banks. However, the effects could have a material impact on results of operations, and Dime and Bridge will continue to monitor the COVID-19 pandemic situation closely. The two companies announced today they have entered into a definitive merger agreement in an all-stock deal valued at $489 million. The regulatory restriction was lifted when SCNB was acquired by Connecticut-based People’s United Bank in March 2018. Among the major "altcoins" - as all cryptocurrencies aside from bitcoin are known - some such as ethereum aspire to be the backbone of a future financial system. HAUPPAUGE, N.Y., Feb. 01, 2021 (GLOBE NEWSWIRE) -- Bridge Bancorp Inc. (Nasdaq: BDGE) (“Bridge”) and Dime Community Bancshares, Inc. (Nasdaq: DCOM) (“Legacy Dime”) today announced the successful closing of the previously announced merger of equals between the respective companies. Free copies of the Joint Proxy Statement/Prospectus, as well as other filings containing information about Bridge and Dime, may be obtained at the SEC’s website, www.sec.gov, when they are filed. 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. 7290Email: jmccaffery@bnbbank.com, Investor Relations Contact:Avinash ReddySenior Executive Vice President – Chief Financial OfficerPhone: 718-782-6200; Ext. More information on Dime Community Bancshares, Inc. and Dime Community Bank can be found on Dime's website at www.dime.com. Jul 6, 2020 10:24AM EDT. It takes time and resources to provide this service. Global and national health concerns relating to the COVID-19 pandemic outbreak have been weighing on the local, national and global economic environments, and the outbreak has significantly increased economic uncertainty. The warning from China's central bank was posted on its WeChat account, according to analysts and media reports. Holdings in exchange-traded funds backed by bullion rose for a seventh straight session.“It seems inflation fears are finally translating into higher precious metals prices,” said John Feeney, business development manager at Sydney-based bullion dealer Guardian Gold Australia. Palladium rose, while platinum slipped.Investors will look to the minutes from the Federal Reserve’s April meeting due Wednesday for any sign that policy makers may reduce stimulus earlier than expected. The crypto market has lost more than $400 billion in a day. Italian 10-year bond yields rose to the highest level since July on Monday as investors speculated an economic growth rebound could mean less central bank support.“The first few EU SURE syndications were a smashing success in terms of demand,” said Martin van Vliet, a strategist at Robeco. Enhances Scale and Builds Upon Complementary Strengths: The combined company will be strategically positioned to have enhanced scale with expected improved opportunities for growth and profitability. Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a community-oriented financial institution. Chinese regulators have tightened restrictions that ban financial institutions and payment companies from providing services related to cryptocurrencies, marking a fresh crackdown on digital money. If Bridge or Dime were to be subject to any such litigation, such litigation could have a material adverse impact on the companies’ businesses, financial conditions and results of operations. The combined company will have a deep commitment to and extensive skillset in SBA-lending, which is anticipated to be an active business line in the current environment. The merger of BNB Bank and Dime Community Bank has been completed, the parent companies of the two banks announced this week. We expect our shareholders to benefit from owning a stronger, more attractive, and more formidable competitor in the New York market.”. Three financial industry associations on Tuesday directed their members, which include banks and online payment firms, not to offer any crypto-related services, such as account openings, registration, trading, clearing, settlement and insurance, reiterating the 2017 ban. Sales are expected to average around 150 billion euros per year for the duration of the program, though all member states need to ratify the recovery program for funds to start flowing.Still, EU bonds will outperform “core” European sovereign peers because investors face a serious shortage of notes in both the short- and long-term, Commerzbank AG analysts wrote in a note to clients last month. Holland & Knight LLP is serving as legal counsel to Dime. A special refund from the IRS may be on its way, Buyers beware as "altcoin" frenzy bruises bitcoin, Bitcoin tumbles below $40,000 after China issues crypto warning, American families will finally get their Child Tax Credit money — here’s when the first payment will arrive. Loan forbearances and other measures have been taken by Dime and Bridge to assist affected customers and businesses, which have had and may continue to have an adverse impact on results of operations and financial condition. Upon completion of the transaction, which is subject to both Dime and Bridge shareholder approval, Dime shareholders will own approximately 52% and Bridge shareholders will own approximately 48% of the combined company. • Nationwide brand recognition as a result of Dime’s iconic logo, longevity and authenticity • Announced merger of equals transaction with Bridge Bancorp, Inc. on July 1, 2020 • Market capitalization: $393 million (as of July 24, 2020) History Dime Branch Footprint This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval with respect to the Merger. Banking regulations prevented BNB from opening a branch in Riverhead because it was the headquarters of Suffolk County National Bank. The all-stock deal was valued at $489 million. (Bloomberg) -- The European Union’s final bond sales for its regional jobs program failed to live up to the hype of previous editions, a concerning sign for its landmark borrowing spree that’s due to start in the second half of the year.Investors placed 88.7 billion euros ($108 billion) of orders for eight- and 25-year securities tied to the SURE social program, little more than a third of the record set for a dual-tranche issue last year. Dime Community Bancshares, Inc., after a $489 million merger with Bridge Bancorp, is setting its sights on deepening a footprint that now stretches from Montauk to Manhattan, the company's chief execu “Lower ECB buying may require somewhat higher premiums.”(Updates to include final demand from first paragraph. The spread of COVID-19 has also caused Dime and Bridge to modify business practices (including employee travel, employee work locations, and cancellation of physical participation in meetings, events and conferences), and the companies may take further actions as may be required by government authorities or that are determined to be in the best interests of their employees, customers and business partners. “Why buy today, if you can buy cheaper tomorrow? “The completion of this transaction unites two iconic New York community banks creating the premier community-based business bank in our region,” O’Connor said in a joint statement with the company’s executive chairman Kenneth Mahon. On Monday, February 1, 2021, Bridge Bancorp Inc. (BNB Bank) and Dime Community Bancshares (Dime Community Bank) successfully closed on a merger of equals. “Our enhanced branch footprint and increased capital base will allow the combined bank to better serve the needs of our customers across the greater New York and Long Island marketplaces,” O’Connor and Mahon said. The headquarters of the combined company will be located in Hauppauge, New York, with a corporate office to be located in New York, New York. Why AT&T's stock is getting smashed after mega media deal with Discovery, Crypto Market Loses $460B as Ether, Altcoins Follow Bitcoin’s Deep Dive, 3 Reasons Your 401(k) Is Not Enough for Retirement, This signal is telling investors that highflying stocks are ready to fall back to Earth, says fund manager. U.S. e-commerce sales rose 37%, the slowest online growth since the coronavirus outbreak. The combined company will be led by a well-respected management team that is comprised of individuals with significant financial services and M&A integration experience. The transaction is approximately 0.4% accretive to Bridge’s Tangible Book Value. Bridge Bancorp, Inc. and Dime Community Bancshares, Inc. Close Merger of Equals. The merger combines two complementary banking platforms to create a premier community-based business bank. Shareholders and investors are urged to read the Registration Statement and the Joint Proxy Statement/Prospectus regarding the Merger carefully and in their entirety when they become available and any other relevant documents filed with the SEC by Bridge and Dime, as well as any amendments or supplements to those documents, because they will contain important information about Bridge, Dime and the Merger. In March 2020, the World Health Organization declared the coronavirus (COVID-19) outbreak a pandemic and the United States declared a national emergency. “ETF investors are starting to swing into net buyers again.”Spot gold gained 0.1% to $1,869.44 an ounce on Tuesday, after advancing to $1,875.10, the highest since Jan. 29. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, and no offer to sell or solicitation of an offer to buy shall be made in any jurisdiction in which such offer, solicitation or sale would be unlawful. I believe that in CEO Kevin O’Connor and President and Chief Operating Officer Stuart Lubow we have the right team to carry on each bank’s standalone reputation for customer service, employee engagement and financial performance. Prospects to Accelerate Shareholder Value Creation: Pro forma calculations with respect to the combined company indicate GAAP EPS accretion of 7% to Bridge and 40% to Dime. Dime continues to maintain excellent asset quality metrics Stock Performance: 12/31/16(1) to 10/30/20 * Peers include : Bridge, ConnectOne, First of Long Island, Flushing, Lakeland, NY Community, OceanFirst, Peapack, and Provident. Crypto markets shift from buy, buy, bitcoin to bye, bye bitcoin, in a nanosecond --- and market technicians say that the digital asset may have more room to fall in the near-term as a monthslong bullish trend unravels. Kenneth J. Mahon, the current Chief Executive Officer of Dime, will serve as Executive Chairman of the combined company, Marcia Hefter, the current Chairwoman of Bridge’s board of directors, will serve as the independent Lead Director of the combined company. Support RiverheadLOCAL today. The securities have also been touted as a one-day rival to U.S. Treasuries, given the current scarcity of German bonds -- the region’s haven asset -- and the risks associated with holding riskier peripheral debt.In another sign of waning demand, the yield on 10-year SURE bonds has climbed more than 40 basis points since they were issued in October. These forward-looking statements include, but are not limited to, statements about (i) the benefits of a merger (the “Merger”) between Bridge and Dime, including future financial and operating results, cost savings, enhancements to revenue and accretion to reported earnings that may be realized from the Merger; (ii) Bridge’s and Dime’s plans, objectives, expectations and intentions and other statements contained in this release that are not historical facts; and (iii) other statements identified by words such as “may”, “assumes”, “approximately”, “will”, “expects” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “targets,” “projects,” or words of similar meaning generally intended to identify forward-looking statements. That’s becoming a self-fulfilling prophecy.”The bloc is set to become a major issuer of bonds in the coming years, potentially creating a debt market akin to the size of Spain’s. The Biden administration intends to share 20 million doses of Covid-19 vaccines produced by Moderna, Pfizer and J&J with other countries by the end of June. Bridge has a deep history in C&I, commercial real estate, and small business lending, while Dime has been a leading player in low-LTV New York multifamily lending. 5909Email: areddy@dime.com. For a decade now individual retirement accounts and company 401(k) plans have been booming thanks to the stock market’s giddy rise. In 2017, Dime moved its headquarters to Brooklyn Heights. “This highly compelling combination will allow us to build on our complementary strengths and provide significant value for shareholders,” said Kevin O’Connor, President and Chief Executive Officer of Bridge Bancorp. BRIDGEHAMPTON, N.Y. and BROOKLYN, N.Y., July 01, 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 announced that they have entered into a definitive merger agreement pursuant to which the companies will combine in an all-stock merger … The all-stock deal was valued at $489 million. The combination fortifies complementary commercial and retail banking business lines. Loans to particular businesses, such as restaurants, hotels and contractors, as well as to people working in those industries, may be particularly subject to adverse developments. We closed the transaction on February 1 this year. AT&T Is Cutting Its Dividend and Spinning Off WarnerMedia. The full extent of the impact on Dime’s and Bridge’s businesses, operations or the economy as a whole is unknown. A replay of the conference call will be available on the websites listed above. Bridge and Dime caution that the foregoing list of factors is not exclusive. Disruptions to customers could result in increased risk of delinquencies, defaults, foreclosures and losses on loans, negatively impact regional economic conditions, result in declines in local loan demand, liquidity of loan guarantors, loan collateral (particularly in real estate), loan originations and deposit availability. Under this program, the SBA guarantees 100% of the amounts loaned under the PPP. “There will be structural demand for triple AAA paper such as the EU, so the recovery fund issuance will be digested, but we’re not sure demand will be as astronomical.”The Commission announced Monday that it would use an auction system operated by France’s central bank to issue debt later in the year, relying on syndications in the meantime. Dime Community Bank is headquartered in Brooklyn, NY and operates 28 banking offices located throughout Brooklyn, Queens, the … --Editing by Abbie Sarfo. Bridge, Dime and their respective directors, and certain of their executive officers and employees may be deemed to be participants in the solicitation of proxies from the shareholders of Dime in connection with the Merger. The retail giant said comparable sales rose 6% in the spring quarter compared with the same period last year. Customers can find additional information at Dime.com/merger. Our enhanced branch footprint and increased capital base will allow us to better serve the needs of our customers. Joint Conference Call and Webcast Details. Combination of two iconic community banks to create a New York-based champion that will be a significant source of strength, Highly complementary branch network with leading deposit market share, coverage of the entire Long Island market and significant branding power, Larger capital base and experienced leadership team with M&A integration expertise provide significant advantages to weather adverse economic conditions, Accelerates shareholder value creation via identified cost savings and enhanced pre-provision earnings power. The combined company will trade under the Dime ticker symbol “DCOM” on The Nasdaq Stock Market. Bridge Bancorp in Bridgehampton, N.Y., is merging with Dime Community Bancshares in Brooklyn, N.Y., in an all-stock deal valued at $489 million. “We are very excited to begin this new chapter in our institutions’ histories,”. The price of bitcoin is now down more than 30% so far in May, on track for its worst month since November 2018. 7255, or to Dime Community Bancshares, Inc., 300 Cadman Plaza West, 8th Floor, Brooklyn, New York 11201, Attention: Corporate Secretary, or by calling (718) 782-6200, or by accessing Bridge’s website at www.bnbbank.com under the “Investor Relations” tab or by accessing Dime’s website at www.dime.com under the “About—Investor Relations” tab. But today more than ever before, we will depend on your support to continue. Dime Community Bancshares Inc. et al., case number 1:20-cv-01279, in the U.S. District Court for the District of Delaware. To listen to the live call, please dial 1-888-348-2672 and upon dialing in, request to be joined into the “Bridge Bancorp and Dime Community Merger Announcement” call with the conference operator. Box 3005, Bridge, New York 11932, Attention: Corporate Secretary, or by calling (631) 537‑1001, ext. In addition, these forward-looking statements are subject to various risks, uncertainties and assumptions with respect to future business strategies and decisions that are subject to change and difficult to predict with regard to timing, extent, likelihood and degree of occurrence. Through its branch network and its electronic delivery channels, BNB provides deposit and loan products and financial services to local businesses, consumers and municipalities. The hearing will revolve around whether a four-page offer letter was a binding job contract or a non-binding initial offer as argued by Santander. The merger of Dime Community Bancshares and Bridge Bancorp for $489 million in an all-stock deal. Bitcoin and ether tumbled on Wednesday to 3-1/2 month lows, on track to post their largest one-day loss since March last year, in the wake of China's move a day ago to ban financial and payment institutions from providing cryptocurrency services. The bank headquarters is … Bridge Bancorp, Inc. and Dime Community Bancshares, Inc. Shareholders Approve Merger of Equals BNB has taken the Dime name, effective Feb. 1. As a result, actual results may differ materially from the anticipated results discussed in these forward-looking statements because of possible uncertainties. Bridge Bancorp, Inc. and Dime Community Bancshares, Inc. Close Merger of Equals. Here’s How Much Its Stock Might Be Worth. Important Additional Information and Where to Find It. If a deficiency is identified, the SBA may deny its liability under the guaranty, reduce the amount of the guaranty, or, if it has already paid under the guaranty, seek recovery of any loss related to the deficiency. Risks Relating to the Coronavirus (COVID-19) Outbreak. The combined company, trading on the NASDAQ Global Select Market under the ticker “DCOM,” has over $12 billion in assets, over $9 billion in total deposits, and over 60 branches spanning Manhattan to Montauk, Dime said in a press release. Financial institutions have experienced litigation related to their processes and procedures used in processing applications for the PPP. The precious metals, which are often used as a hedge against rising consumer prices, are also benefiting from a weaker the dollar and wavering Treasury yields.Gold, which was dogged by higher bond rates at the start of the year, has staged a second-quarter turnaround. (1) Dime’s strategic transformation began in January 2017 with the build out of the usiness anking division. We believe the capital strength of the combined company, Bridge’s high-quality deposit base, and Dime’s historically strong New York City multifamily loan portfolio, will result in the creation of a solid balance sheet. BNB Bank opened a full-service branch on West Main Street in March 2018, entering a market bank officials said they’d been interested in for years. The outbreak has resulted in authorities implementing numerous measures to try to contain the virus, such as travel bans and restrictions, quarantines, shelter in place orders, and business shutdowns. DCOM | 1 hour ago. You will also be able to obtain these documents, when they are filed, free of charge, by directing a request to Bridge Bancorp, Inc., 2200 Montauk Highway, P.O. BRIDGEHAMPTON, N.Y. and BROOKLYN, N.Y., July 01, 2020 (GLOBE NEWSWIRE) -- Bridge Bancorp, Inc. (BDGE) (“Bridge”), the parent company of BNB Bank, and Dime Community Bancshares, Inc. (DCOM) (“Dime”), the parent company of Dime Community Bank, today announced that they have entered into a definitive merger agreement pursuant to which the companies will combine in an all-stock merger of equals transaction, valued at approximately $489 million. There is no certainty that such measures will be sufficient to mitigate the risks posed by COVID-19 or otherwise be satisfactory to government authorities. The combined company will have over $11 billion in assets, over $8 billion in total deposits, and 66 branches spanning Montauk to Manhattan. Following the closing of the transaction, Dime shareholders will receive 0.6480 shares of Bridge common stock for each share of Dime common stock they own. First let's start with the merger. Information about Bridge’s directors and executive officers is available in its proxy statement for its 2020 annual meeting of shareholders, which was filed with the SEC on April 28, 2020, and information about Dime’s directors and executive officers is available in its proxy statement for its 2020 annual meeting of shareholders, which was filed with the SEC on April 15, 2020. Retirement investors have never had it so good. The headquarters of the combined company, which HAUPPAUGE, N.Y., Feb. 01, 2021 (GLOBE NEWSWIRE) -- Bridge Bancorp Inc. (Nasdaq: BDGE) (“Bridge”) and Dime Community Bancshares, Inc. (Nasdaq: DCOM) (“Legacy Dime”) today announced the successful closing of the previously announced merger … Risks Related to the SBA PPP Loan Program. How can you tell when you’re a little too attached to your cell phone? Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support Pursuant to the terms of the agreement dated July 1, 2020, each share of Legacy Dime was converted into 0.648 common shares of Bridge and the combined company was renamed Dime Community Bancshares, Inc. Beginning today, the combined company will trade on The NASDAQ Global Select Market under the ticker “DCOM”. Any attempt to extend the size of the package is likely to be politically difficult, they argue.The EU mandated Deutsche Bank AG, LBBW, Morgan Stanley, Natixis SA and NatWest Markets for the sale of SURE bonds. Bridge Bancorp, the parent company of BNB Bank, and Dime Community Bancshares, the parent company of Dime Community Bank, entered into a definitive merger agreement pursuant to which the companies will combine in an all-stock merger of equals transaction, valued at approximately $489 million.The combined company will have more than … The merger deal is being taken up for establishing a premier community-based business bank with over $11 billion in assets under management, total … The information on Bridge’s and Dime’s websites is not, and shall not be deemed to be, a part of this release or incorporated into other filings either company makes with the SEC. Silver for immediate delivery rose as much as 2.1% to $28.7533 an ounce, the highest since early February, when the metal was trading near an eight-year peak. Why vote for in the school election May 18? Bridge Bancorp, Inc. and Dime Community Bancshares, Inc. to Combine in Merger of Equals Creating The Best Business Bank in New York From Montauk to Manhattan Bridge Bancorp, Inc. BDGE and Dime Community Bancshares, Inc. DCOM announced a ‘merger of equals’ deal last week. Bridge and Dime do not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made. Certain retail locations in eastern Long Island will operate under the BNB Bank name for at least one year. Bitcoin, the biggest and best-known cryptocurrency, had already been under pressure from a series of tweets from Tesla boss Elon Musk, but the news from China sent it further down, It hit a 3-1/2-month low of $30,066. Learn the basic structure of a 401(k) and why it may not be enough to sustain you during retirement. )More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. As you may recall, we announced the merger transaction on July 1, 2020.

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