Bridge Bancorp, the parent company of BNB Bank, and Dime Community Bancshares, the parent company of Dime Community Bank, received approval from the New York State Department of Financial Services to merge Dime Community Bank with and into BNB Bank.
Bridge Bancorp and Dime Community Bancshares 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.
The board of directors of Dime Community Bancshares, the parent company of Dime Community Bank, approved the promotion of chief banking officer Stuart H. Lubow to president of the company and the bank.
Steve Miley, formerly a vice president from Tallwave, a business design and innovation company, will assume the newly created role of senior vice president and director of Strategic Marketing for Dime Community Bank.
Dime Community Bank hired Alan Green as senior vice president of business banking. Green will report to Conrad Gunther, EVP, business banking.