The merger of BNB Bank and Dime Community Bank has been completed, the parent companies of the two banks announced this week. Bridge Bancorp, Dime Community merger : Bridge Bancorp has signed an all-stock merger deal worth about $489 million with rival New York State bank holding company Dime Community Bancshares.. BNB Bank will soon have a new name. The newly combined company will trade under the Dime Community Bank brand, listing on the Nasdaq Global Select Market from today (February 1, 2021). UBS Arena is a $1.1 billion multi -purpose arena under construction … Dime has become one of Greater Long Island’s largest community banks since its merger earlier this year with BNB Bank. Dime has become one of Greater Long Island’s largest community banks since its merger earlier this year with BNB Bank. The merger deal is being taken up for establishing a premier community-based business bank with over $11 billion in assets under management, total deposits of over $8 billion, and 66 … The merger between Bridgehampton-headquartered BNB Bank and Brooklyn-founded Dime Community Bank has closed, with 65 branches rebranded as Dime locations. 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. Bridge Bancorp, the parent company of BNB Bank, has agreed to merge with Dime Community Bancshares Inc., in an all-stock deal worth about $489 million. The headquarters of the combined company, which The partnership with UBS Arena gives the Ba nk a high profile foothold at a location central to its New York City / Long Island network. Dime Community Bancshares ... Our merger has created a bank that has an [Indecipherable] was acquired. And Dime Community Bancshares, Inc. Close Merger of Equals By admin February 3, 2021 No Comments. 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. The parent companies for BNB Bank and Dime Community Bank announced a merger agreement last week, a transaction valued at approximately $489 million. BNB Bank to become Dime Community Bank in $489M merger. The all-stock deal was valued at $489 million. 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. Denise Civiletti - Jul 1, 2020, 8:06 pm. In an announcement, the organizations issued a joint statement confirming the all-stock merger. About Bridge Bancorp, Inc. Bridge Bancorp, Inc. is a bank holding … Creating a Premier Community-Based Bank in New York The merger combines two complementary banking technology platforms to create a premier community-based business bank. The parties have filed an application with New York State Department of Financial Services to merge Dime Community Bank with and into BNB Bank, and have requested a waiver of a formal application process with the Federal Reserve Board with respect to any holding company application, each of which is pending. Bridge Bancorp, Inc. BDGE and Dime Community Bancshares, Inc. DCOM announced a ‘merger of equals’ deal last week. 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. 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 … Dime has $13 billion in assets and more than 60 branches from Montauk to Manhattan . In addition to receipt of the required regulatory approvals, completion of the … Bridge Bancorp, the parent company of BNB Bank, is merging with Dime Community Bancshares, the parent company of Dime Community Bank. 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 The Dime Community Bank, originally known as the Dime Savings Bank of Williamsburgh, is a local, FDIC-insured bank originally based in the Williamsburg neighborhood of Brooklyn, New York, operating in the area since 1864.In 2017, Dime moved its headquarters to Brooklyn Heights. The headquarters will be moved in Hauppauge, N.Y., with a corporate office in New York. Following the closing of the transaction, Dime shareholders will receive 0.6480 … The two companies announced today they have entered into a definitive merger agreement in an all-stock deal valued at … July 3, 2020. Under the terms of the merger agreement, which was unanimously approved by the boards of directors of both companies, Dime will merge with and into Bridge, with Bridge as the surviving corporation, and Dime Community Bank will merge with and into BNB Bank, with BNB Bank as the surviving institution. Bridge Bancorp, Inc. and Dime Community Bancshares, Inc. to Combine in Merger of Equals Creating The Best Business Bank in New York Bridge Bancorp Inc. and Dime Community Bancshares Inc. entered into merger agreement in July. BNB has taken the Dime name, effective Feb. 1. The parties have filed an application with New York State Department of Financial Services to merge Dime Community Bank into BNB Bank, and have requested a waiver of a formal application process with the Federal Reserve Board with respect to any holding company application, each of which is pending. The combined bank will operate under the name Dime Community Bank, with branch coverage throughout Long Island, including the branch on North Ferry road. The combined company, trading on the NASDAQ Global … 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. Following the closing of the transaction, Dime shareholders will receive 0.6480 … Certain retail locations on the East End will operate under the BNB Bank … Dime has become one of Greater Long Island’s largest community banks since its merger earlier this year with BNB Bank. 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. By. About the Author. David Winzelberg covers real estate, franchising, and white-collar crime for Long Island Business News. In addition to receipt of the required regulatory approvals, completion of the proposed … The Dime and BNB leadership has a relationship that predates the merger. Share. Under the terms of the merger agreement, which was unanimously approved by the boards of directors of both companies, Dime will merge with and into Bridge, with Bridge as the surviving corporation, and Dime Community Bank will merge with and into BNB Bank, with BNB Bank as the surviving institution. The parent companies for BNB Bank and Dime Community Bank announced a merger agreement last week, a transaction valued at approximately $489 million. On Monday, February 1, 2021, Bridge Bancorp Inc. (BNB Bank) and Dime Community Bancshares (Dime Community Bank) … Though Bridge is the legal acquirer, Dime’s shareholders will own 52% of the company, which will operate as Dime. The $489 million merger between Bridgehampton-headquartered BNB Bank and Brooklyn-founded Dime Community Bank has closed, with the combined 65 branches from Montauk to Manhattan now rebranded as Dime locations, the company announced Monday. A community bank built on perseverance, character, customer service and community reinvestment 1864 1910 2021 The Dime Savings Bank of Williamsburg is founded approximately 6 months after President Lincoln delivers Gettysburg Address, and approximately 1 year before the US is reunited after the Civil War The Bridgehampton National Bank is incorporated in the same week the Boy Scouts of America is …
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