Important Additional Information and Where to Find It. AT&T's stock is the biggest loser in the S&P 500 on Tuesday. Under this program, the SBA guarantees 100% of the amounts loaned under the PPP. Free copies of these documents may be obtained as described in the preceding paragraph. When the EU launched the securities last year, Europe was still firmly in the throes of lockdowns, the ECB was committed to pumping money into debt markets and investor demand for the securities was enormous. The precious metals, which are often used as a hedge against rising consumer prices, are also benefiting from a weaker the dollar and wavering Treasury yields.Gold, which was dogged by higher bond rates at the start of the year, has staged a second-quarter turnaround. The payments will reach more than 65 million children, according to senior administration officials. Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered community commercial bank that was founded in 1864. Grief observed: a very personal experience shared by all humanity, opened a full-service branch on West Main Street. Information regarding all of the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Joint Proxy Statement/Prospectus regarding the Merger and other relevant materials to be filed with the SEC when they become available. Bridge Bancorp, Inc. is a bank holding company engaged in commercial banking and financial services through its wholly-owned subsidiary, BNB Bank. Sales are expected to average around 150 billion euros per year for the duration of the program, though all member states need to ratify the recovery program for funds to start flowing.Still, EU bonds will outperform âcoreâ European sovereign peers because investors face a serious shortage of notes in both the short- and long-term, Commerzbank AG analysts wrote in a note to clients last month. The warning from China's central bank was posted on its WeChat account, according to analysts and media reports. U.S. e-commerce sales rose 37%, the slowest online growth since the coronavirus outbreak. Why AT&T's stock is getting smashed after mega media deal with Discovery, Crypto Market Loses $460B as Ether, Altcoins Follow Bitcoinâs Deep Dive, 3 Reasons Your 401(k) Is Not Enough for Retirement, This signal is telling investors that highflying stocks are ready to fall back to Earth, says fund manager. Dime Community Bancshares, Inc. (the “Company”) held a special meeting of shareholders on December 3, 2020 (the “Special Meeting”) related to the Company’s proposed merger with Bridge Bancorp, Inc. (“Bridge”). The all-stock deal was valued at $489 million. The headquarters will be moved in Hauppauge, N.Y., with a corporate office in New York. The combined company will be led by a well-respected management team that is comprised of individuals with significant financial services and M&A integration experience. âETF investors are starting to swing into net buyers again.âSpot gold gained 0.1% to $1,869.44 an ounce on Tuesday, after advancing to $1,875.10, the highest since Jan. 29. This press release is being made in respect of the proposed Merger between Dime and Bridge. “We are very excited to begin this new chapter in our institutionsâ histories,â. In addition, both companies have strong balance sheets and demonstrated histories of low loan losses through prior cycles, which give me confidence that we will be well-positioned to succeed in any environment. These forward-looking statements are based upon the current beliefs and expectations of the respective management of Bridge and Dime and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of Bridge and Dime. Bridge Bancorp, Dime Community merger : Bridge Bancorp has signed an all-stock merger deal worth about $489 million with rival New York State bank holding company Dime Community Bancshares. Commerzbank expects the EU will sell as much as 15 billion euros of bonds. Holland & Knight LLP is serving as legal counsel to Dime. BNB has taken the Dime name, effective Feb. 1. A special refund from the IRS may be on its way, Buyers beware as "altcoin" frenzy bruises bitcoin, Bitcoin tumbles below $40,000 after China issues crypto warning, American families will finally get their Child Tax Credit money â hereâs when the first payment will arrive. Fed Vice Chair Richard Clarida said Monday the economy had not yet reached the threshold to warrant scaling back massive bond purchases, while Dallas Fed President Robert Kaplan said he expects price pressures to ease in 2022.While Morgan Stanley expects the first warning of bond tapering to come in September -- putting pressure back on gold -- the bank said bullion has the potential to stay above $1,700 an ounce through the second half of the year.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. MADRID (Reuters) -Italian banker Andrea Orcel has cut his claim against Santander over a rescinded offer to make him chief executive by tens of millions of euros, sources said and a court document seen by Reuters on the eve of a hearing show. Upon completion of the transaction, which is subject to both Dime and Bridge shareholder approval, Dime shareholders will own approximately 52% and Bridge shareholders will own approximately 48% of the combined company. Both of us weathered the financial crisis of 2008 with among the lowest loss rates in the entire country. This merger is the next logical step in Dimeâs journey and significantly accelerates our business model transformation. Information about Bridgeâs directors and executive officers is available in its proxy statement for its 2020 annual meeting of shareholders, which was filed with the SEC on April 28, 2020, and information about Dimeâs directors and executive officers is available in its proxy statement for its 2020 annual meeting of shareholders, which was filed with the SEC on April 15, 2020. Management believes that conservative and achievable cost savings, projected to be approximately 15% of the combined expense base, will drive strong financial metrics, material capital generation and tangible book value per share growth. âThe completion of this transaction unites two iconic New York community banks creating the premier community-based business bank in our region,â OâConnor said in a joint statement with the companyâs executive chairman Kenneth Mahon. We believe the capital strength of the combined company, Bridgeâs high-quality deposit base, and Dimeâs historically strong New York City multifamily loan portfolio, will result in the creation of a solid balance sheet. Bridge and Dime do not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made. Jul 6, 2020 10:24AM EDT. The full extent of the impact on Dimeâs and Bridgeâs businesses, operations or the economy as a whole is unknown. Pursuant to the terms of the agreement dated July 1, 2020, each share of Legacy Dime was converted into 0.648 common shares of Bridge and the combined company was renamed Dime Community Bancshares, Inc. Beginning today, the combined company will trade on The NASDAQ Global Select Market under the ticker “DCOM”. The bank headquarters is … Retirement investors have never had it so good. The all-stock deal was valued at $489 million. Bridge has a deep history in C&I, commercial real estate, and small business lending, while Dime has been a leading player in low-LTV New York multifamily lending. There are no comparable recent events which may provide guidance as to the effect of the spread of COVID-19 and a global pandemic, and, as a result, the ultimate impact of the COVID-19 outbreak or a similar health epidemic or pandemic is highly uncertain and subject to change. The bloc is ready to start sales for its 800 billion-euro recovery fund by July.It marks a stark turnaround for one of the hottest new triple-A rated bond markets in town. Bridge Bancorp, the parent company of BNB Bank, is merging with Dime Community Bancshares, the parent company of Dime Community Bank. The recovery has been driven by repeated assurances from Federal Reserve officials that they arenât considering raising rates or scaling back bond buying anytime soon. The hearing will revolve around whether a four-page offer letter was a binding job contract or a non-binding initial offer as argued by Santander. If Bridge or Dime were to be subject to any such litigation, such litigation could have a material adverse impact on the companiesâ businesses, financial conditions and results of operations. The combined company will trade under the Dime ticker symbol âDCOMâ on The Nasdaq Stock Market. It takes time and resources to provide this service. Bridge and Dime caution that the foregoing list of factors is not exclusive. These measures may remain in place for a significant period of time and they are likely to continue to adversely affect the businesses, results of operations and financial condition of Dime and Bridge. To listen to the live call, please dial 1-888-348-2672 and upon dialing in, request to be joined into the âBridge Bancorp and Dime Community Merger Announcementâ call with the conference operator. Bitcoin, the biggest and best-known cryptocurrency, had already been under pressure from a series of tweets from Tesla boss Elon Musk, but the news from China sent it further down, It hit a 3-1/2-month low of $30,066. Bridge Bancorp, Inc. and Dime Community Bancshares, Inc. to Combine in Merger of Equals Creating The Best Business Bank in New York From Montauk to Manhattan The retail giant said comparable sales rose 6% in the spring quarter compared with the same period last year. The definitive Joint Proxy Statement/Prospectus will be mailed to shareholders of Dime. )More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. Why vote for in the school election May 18? HAUPPAUGE, N.Y., Feb. 01, 2021 (GLOBE NEWSWIRE) -- Bridge Bancorp Inc. (Nasdaq: BDGE) (“Bridge”) and Dime Community Bancshares, Inc. (Nasdaq: DCOM) (“Legacy Dime”) today announced the successful closing of the previously announced merger of equals between the respective companies. Silver for immediate delivery rose as much as 2.1% to $28.7533 an ounce, the highest since early February, when the metal was trading near an eight-year peak. The all-stock deal will see Bridge Bancorp issue 0.648 of Bridge shares for every Dime share. The crypto market has lost more than $400 billion in a day. Noted value fund manager GMO points to increased supply of stock being a signal of an imminent bust in the speculative tier of equities. Bridge and Dime may be exposed to credit risk on PPP loans if a determination is made by the SBA that there is a deficiency in the manner in which the loan was originated, funded, or serviced. AT&T Is Cutting Its Dividend and Spinning Off WarnerMedia. BNB has taken the Dime name, effective Feb. 1. It comes as yields across the region climb as investors prepare for European Central Bank to scale back its bond purchases in the face of growing inflationary pressures. âLower ECB buying may require somewhat higher premiums.â(Updates to include final demand from first paragraph. Leveraging Dimeâs ubiquitous brand name and having branch network coverage over the entire Long Island market provide the combined entity significant branding power. All subsequent written and oral forward-looking statements concerning the proposed transaction or other matters attributable to Bridge or Dime or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Bitcoin's smaller rivals are eroding its share of the $2 trillion digital currency market. Bridge Bancorp, Inc. and Dime Community Bancshares, Inc. Close Merger of Equals. (Bloomberg) -- Gold and silver reached the highest prices in more than three months, extending a recovery from a slump as growing inflation concerns and assurances on monetary policy pull investors back to the metals.Prices rose as U.S. stocks declined for a second day, with investors weighing the rush to reopen the economy against inflationary pressure from a rise in commodity prices. We are a small family-owned operation, and we will do everything in our power to keep it going. Free copies of the Joint Proxy Statement/Prospectus, as well as other filings containing information about Bridge and Dime, may be obtained at the SECâs website, www.sec.gov, when they are filed. Dime Community Bank is headquartered in Brooklyn, NY and operates 28 banking offices located throughout Brooklyn, Queens, the … Creates a Bank with Dominant Market Share: The combined company will have a highly complementary branch network with limited existing customer overlap, and will be well positioned to increase market share from regional and money-center banks. Shoreham-Wading River passes $80.7 million operating budget, Riverhead school budget approved by wide margin, Connelly and Palmer elected, Town takes title to Main Street buildings for development of town square, As COVID restrictions are eased statewide, the wall comes down at Riverhead Town Hall, New York will no longer require masks, social distancing for fully vaccinated people in most situations Wednesday, Firefighters battle large brush fire in Pine Barrens preserve, Police seek public’s help to find arsonist who started Flanders brush fire last week, Three Riverhead ambulance crew members hurt in crash, Riverhead police investigate theft of ‘several firearms’ from vehicle parked overnight in downtown hotel parking lot, PBMC to hold walk-in COVID vaccine distribution May 18, Yard sale at First Congregational Church of Riverhead, High school business students swim with the ‘sharks’ and come up winners, PAL opens registration for youth football, flag football and cheerleading, Riverhead STOP Day and medication take-back set for May 22, In their own words: Meet the six people running for Riverhead school board this year, School board to hold public hearing tonight on proposed 2021-2022 operating budget, Roanoke Avenue Elementary School students improve school’s garden, Riverhead Youth Court participants recognized, Michelangelo of Riverhead closes its doors, Suffolk Theater scrambling to book acts, aiming for September reopening, Large marijuana grower makes $42.5 million investment in Riverhead farm, Long Island farmworkers launch cooperative: ‘We can grow our own futures’, This is a time for unity in Riverhead, not division: Vote yes on the school budget, Hariri: Officials have ‘failed miserably’ on immigration issues, Documents in ex-Suffolk DA’s corruption trial reveal county politics at their sordid worst. 5909Email: areddy@dime.com. The merger deal is being taken up for establishing a premier community-based business bank with over $11 billion in assets under management, total … As a result, actual results may differ materially from the anticipated results discussed in these forward-looking statements because of possible uncertainties. If a deficiency is identified, the SBA may deny its liability under the guaranty, reduce the amount of the guaranty, or, if it has already paid under the guaranty, seek recovery of any loss related to the deficiency. Risks Relating to the Coronavirus (COVID-19) Outbreak. AT&T investors are on the run after the company shocked Wall Street by unloading its WarnerMedia division to Discovery. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, and no offer to sell or solicitation of an offer to buy shall be made in any jurisdiction in which such offer, solicitation or sale would be unlawful. Dime Community Bancshares Inc. et al., case number 1:20-cv-01279, in the U.S. District Court for the District of Delaware. Certain retail locations in eastern Long Island will operate under the BNB Bank name for at least one year. Bridge Bancorp Inc. and Dime Community Bancshares Inc. entered into merger agreement in July. The headquarters of the combined company, which Bridge, Dime and their respective directors, and certain of their executive officers and employees may be deemed to be participants in the solicitation of proxies from the shareholders of Dime in connection with the Merger. BRIDGEHAMPTON, N.Y. and BROOKLYN, N.Y., July 01, 2020 (GLOBE NEWSWIRE) -- Bridge Bancorp, Inc. (BDGE) (âBridgeâ), the parent company of BNB Bank, and Dime Community Bancshares, Inc. (DCOM) (âDimeâ), the parent company of Dime Community Bank, today announced that they have entered into a definitive merger agreement pursuant to which the companies will combine in an all-stock merger of equals transaction, valued at approximately $489 million. Bridge Bancorp in Bridgehampton, N.Y., is merging with Dime Community Bancshares in Brooklyn, N.Y., in an all-stock deal valued at $489 million. Pursuant to the terms of the agreement dated July 1, … In March 2020, the World Health Organization declared the coronavirus (COVID-19) outbreak a pandemic and the United States declared a national emergency. Bridge and Dime will conduct a live conference call and webcast to discuss the transaction at 8:30AM Eastern Time on July 2, 2020. The company said it expects to combine its banking technology platforms by early in the second quarter of 2021 without any disruption to customers. Bridge and Dime are two of the most highly acclaimed and respected franchises in the New York market. Our enhanced branch footprint and increased capital base will allow us to better serve the needs of our customers. In 2017, Dime moved its headquarters to Brooklyn Heights. The webcast, along with related slides, will be available on both the Bridge website (www.bnbbank.com) and the Dime website (www.dime.com). Combination of two iconic community banks to create a New York-based champion that will be a significant source of strength, Highly complementary branch network with leading deposit market share, coverage of the entire Long Island market and significant branding power, Larger capital base and experienced leadership team with M&A integration expertise provide significant advantages to weather adverse economic conditions, Accelerates shareholder value creation via identified cost savings and enhanced pre-provision earnings power.
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