Bridge Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and twelve months ended December 31, 2017. For the quarter, the company reported net interest income of USD 33,561,000 compared to USD 30,165,000 a year ago. Interest income was USD 39,960,000 compared to USD 34,615,000 a year ago. Loss before income taxes was USD 1,494,000 compared to income of USD 13,984,000 a year ago. Net loss was USD 6,916,000 compared to net income of USD 9,160,000 a year ago. Basic and diluted loss per share was USD 0.35 compared to earnings per share of USD 0.50 a year ago. Return on average total assets was negative 0.63% compared to positive 0.93% a year ago. Return on average stockholders' equity was negative 6.07% compared to positive 8.41% a year ago. Return on average tangible stockholders' equity was negative 8.04% compared to positive 13.43% a year ago. Adjusted net income (non-GAAP) was USD 5,869,000 compared to USD 9,093,000 a year ago. Adjusted diluted earnings per share (non-GAAP) was USD 0.30 compared to USD 0.50 a year ago. Adjusted return on average total assets was 0.53% compared to 0.92% a year ago. Adjusted return on average stockholders' equity was 5.15% compared to 9.43% a year ago. Adjusted return on average tangible stockholders' equity was 7.01% compared to 13.60% a year ago. Book value per share was USD 21.78 compared to USD 21.36 a year ago. Tangible book value per share was USD 16.14 compared to USD 15.51 a year ago.

For the twelve months, the company reported net interest income of USD 127,160,000 compared to USD 120,871,000 a year ago. Interest income was USD 149,849,000 compared to USD 137,716,000 a year ago. Income before income taxes was USD 39,485,000 compared to USD 54,286,000 a year ago. Net income was USD 20,539,000 compared to USD 35,491,000 a year ago. Diluted earnings per share were USD 1.04 compared to USD 2.00 a year ago. Return on average total assets was 0.49% compared to 0.92% a year ago. Return on average stockholders' equity was 4.64% compared to 9.82% a year ago. Return on average tangible stockholders' equity was 6.21% compared to 14.21% a year ago. Adjusted net income (non-GAAP) was USD 33,324,000 compared to USD 35,641,000 a year ago. Adjusted diluted earnings per share (non-GAAP) was USD 1.68 compared to USD 2.00 a year ago. Adjusted return on average total assets was 0.79% compared to 0.93% a year ago. Adjusted return on average stockholders' equity was 7.53% compared to 9.87% a year ago. Adjusted return on average tangible stockholders' equity was 10.28% compared to 14.57% a year ago.

The company estimates it will record income tax at an effective tax rate of approximately 23% in 2018.