PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2011

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

14. PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

Condensed financial information of Bridge Bancorp, Inc. (Parent Company only) follows:

Condensed Balance Sheets

December 31,	2011		2010
(In thousands)
ASSETS
Cash and cash equivalents	$	13,002	$	3,356
Other assets	192		750
Investment in the Bank	110,028		79,118
Total Assets	$	123,222	$	83,224
LIABILITIES AND STOCKHOLDERS’ EQUITY
Junior subordinated debentures	$	16,002	$	16,002
Dividends payable	—		1,467
Other liabilities	233		35
Total Liabilities	16,235		17,504
Total Stockholders’ Equity	106,987		65,720
Total Liabilities and Stockholders’ Equity	$	123,222	$	83,224

Condensed Statements of Income

Years ended December 31,	2011			2010			2009
(In thousands)
Dividends from the Bank	$	—		$	1,700		$	4,500
Interest expense	1,366			1,365			190
Non interest expense	69			43			34
Income before income taxes and equity in undistributed earnings of the Bank	(1,435		)	292			4,276
Income tax benefit	(445		)	(431		)	(69		)
Income before equity in undistributed earnings of the Bank	(990		)	723			4,345
Equity in undistributed earnings of the Bank	11,349			8,443			4,418
Net income	$	10,359		$	9,166		$	8,763

Condensed Statements of Cash Flows

Years ended December 31,	2011			2010			2009
(In thousands)
Cash flows from operating activities:
Net income	$	10,359		$	9,166		$	8,763
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Equity in undistributed earnings of the Bank	(11,349		)	(8,443		)	(4,418		)
Decrease (increase) in other assets	558			(450		)	(217		)
Increase (decrease) in other liabilities	198			(6		)	1
Net cash (used in) provided by operating activities	(234		)	267			4,129
Cash flows from investing activities:
Investment in the Bank	(12,000		)	—			(11,500		)
Cash in lieu of fractional shares for business acquisition	(3		)	—			—
Net cash used in investing activities	(12,003		)	—			(11,500		)
Cash flows from financing activities:
Proceeds from issuance of junior subordinated debentures	—			—			16,002
Net proceeds from issuance of common stock	28,088			1,395			255
Net proceeds from exercise of stock options	—			17			34
Repurchase of surrendered stock from exercise of stock options and vesting
of restricted stock awards	(128		)	(37		)	(35		)
Excess tax (expense) benefit from share based compensation	(16		)	11			12
Cash dividends paid	(6,061		)	(5,787		)	(5,716		)
Net cash provided by (used in) financing activities	21,883			(4,401		)	10,552
Net increase (decrease) in cash and cash equivalents	9,646			(4,134		)	3,181
Cash and cash equivalents at beginning of year	3,356			7,490			4,309
Cash and cash equivalents at end of year	$	13,002		$	3,356		$	7,490