BNB Acquires First National Bank Of New York
Douglas MacKaye Harrington
(Photo: Courtesy of Bridgehampton National Bank)
In an effort to expand its footprint and enhance its presence in the Nassau County market, Bridge Bancorp, the parent company of Bridgehampton National Bank
(BNB), has recently acquired the First National Bank of New York (FNBNY).
Eponymously associated with the Hamptons by the very nature of its name, BNB has served the East End community for over a century. During the past several years BNB has established branches Up-Island with a location as far west as Deer Park.
FNBNY is a full service bank with branches in Merrick and Massapequa in Nassau County, along with a Suffolk County location in Melville with total assets of $276 million, including $100 million in loans, funded by deposits of $209 million. The acquisition of FNBNY will result in BNB assets of approximately $2.0 billion with $1.7 billion in deposits and 26 branches serving Long Island. There are no plans at this time for a consolidation of any branches.
"We are excited to announce the acquisition of FNBNY expanding our geographic footprint into Nassau County," said Kevin O'Connor, President and CEO of Bridge Bancorp. "This transaction complements our existing network and enhances our asset generation capabilities. Our expanded branch network will allow us to serve a greater portion of the Long Island and metropolitan marketplace."
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Frequently mistaken for the "Most Interesting Man in the World" from the Dos Equis commercials and the iconic gray-bearded Sean Connery, DMH is the Senior Contributing Editor at Hamptons.com. www.hamptons.com