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Jun 30, 2020
Dime Q2 2020 Earnings Report
Bridge Bancorp, Inc. net income for the second quarter of 2020 was comparable with the second quarter of 2019.
Key Takeaways
Bridge Bancorp, Inc. reported a net income of $10.7 million, or $0.54 per diluted share, for the second quarter of 2020. Adjusted pre-tax pre-provision net revenue increased by $3.9 million compared to both the first quarter of 2020 and the second quarter of 2019. Net interest income increased by $4.9 million over the second quarter of 2019, reaching $40.4 million.
Net income for the 2020 second quarter of $10.7 million, or $0.54 per diluted share.
Adjusted pre-tax pre-provision net revenue was $20.9 million, an increase of $3.9 million over both the 2020 first quarter and 2019 second quarter.
Net interest income for the 2020 second quarter increased $4.9 million over the 2019 second quarter to $40.4 million, with a tax-equivalent net interest margin of 3.00%.
Total assets of $6.2 billion at June 30, 2020, 30% higher than June 30, 2019.
Dime
Dime
Forward Guidance
The Company estimates it will record income tax at an effective tax rate of approximately 22.7% for the remainder of 2020.