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New York & Tri-State  + Outer  + Finance  | 

Dime Forges Merger Pact with Bridge Bancorp

Brooklyn-based Dime Community Bancshares and Bridgehampton, NY-based Bridge Bancorp Inc. have agreed to an all-stock merger valued at $489 million. Operating under the Dime Community Bancshares name, the combined company will have more than $11 billion in assets, $8 billion-plus in total deposits and 66 branches spanning Montauk to Manhattan.

“Prior to the onset of our commercial bank transformation four years ago, Dime was a monoline, multifamily thrift lender,” said Dime CEO Kenneth J. Mahon. “This merger is the next logical step in Dime’s journey and significantly accelerates our business model transformation.”

Bridge CEO Kevin O’Connor will serve as CEO of the combined company, with Mahon as executive chairman. The company will be headquartered in Hauppauge, NY, with a corporate office in New York City.

The combined company will trade under the Dime ticker symbol, DCOM, on the Nasdaq stock market. The merger is expected to close in early 2021.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types as well as delving into broader subject matter. He produces 15-20 daily news stories per day and also works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.

  • ◦Financing
  • ◦Sale/Acquisition
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