Bank / Credit Union

Bridge Bancorp, Dime receive regulatory approval to merge

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November 2, 2020

Bridge Bancorp Inc. and Dime Community Bancshares, Inc. announced that they have received the required regulatory approval from the Board of Governors of the Federal Reserve System to merge Dime Community Bank into BNB Bank, according to a company release.

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.

In addition to receipt of the required regulatory approvals, completion of the proposed merger remains subject to the satisfaction or waiver of other closing conditions and Dime and Bridge shareholder approval.

Bridge and Dime have scheduled their respective virtual meetings of shareholders for Dec. 3, 2020 at 10:00 a.m. local time.