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PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION | 12 Months Ended
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Dec. 31, 2016
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION |
PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION | 17. PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION Condensed financial information of Bridge Bancorp, Inc. (Parent Company only) follows: Condensed Balance Sheets
|  | December 31, |
(In thousands) |  | 2016 |  |  | 2015 |
Assets: |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 29,049 |  |  | $ | 25,475 |
Other assets |  |  | 228 |  |  |  | 16 |
Investment in the Bank |  |  | 474,035 |  |  |  | 411,106 |
Total assets |  | $ | 503,312 |  |  | $ | 436,597 |
Liabilities and stockholders’ equity: |  |  |  |  |  |  |  |
Subordinated debentures |  | $ | 78,502 |  |  | $ | 78,363 |
Junior subordinated debentures |  |  | 15,244 |  |  |  | 15,878 |
Other liabilities |  |  | 1,579 |  |  |  | 1,228 |
Total liabilities |  |  | 95,325 |  |  |  | 95,469 |
Total stockholders’ equity |  |  | 407,987 |  |  |  | 341,128 |
Total liabilities and stockholders’ equity |  | $ | 503,312 |  |  | $ | 436,597 |
Condensed Statements of Income
|  | Year Ended December 31, |
(In thousands) |  | 2016 |  |  | 2015 |  |  | 2014 |
Dividends from the Bank |  | $ | 14,800 |  |  | $ | 10,000 |  |  | $ | — |
Interest expense |  |  | 5,903 |  |  |  | 2,626 |  |  |  | 1,365 |
Non-interest expense |  |  | 260 |  |  |  | 73 |  |  |  | 86 |
Income (loss) before income taxes and equity in undistributed earnings of the Bank |  |  | 8,637 |  |  |  | 7,301 |  |  |  | (1,451 | )
Income tax benefit |  |  | (2,126 | ) |  |  | (933 | ) |  |  | (463 | )
Income (loss) before equity in undistributed earnings of the Bank |  |  | 10,763 |  |  |  | 8,234 |  |  |  | (988 | )
Equity in undistributed earnings of the Bank |  |  | 24,728 |  |  |  | 12,877 |  |  |  | 14,751 |
Net income |  | $ | 35,491 |  |  | $ | 21,111 |  |  | $ | 13,763 |
Condensed Statements of Cash Flows
|  | Year Ended December 31, |
(In thousands) |  | 2016 |  |  | 2015 |  |  | 2014 |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 35,491 |  |  | $ | 21,111 |  |  | $ | 13,763 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed earnings of the Bank |  |  | (24,728 | ) |  |  | (12,877 | ) |  |  | (14,751 | )
Amortization |  |  | 152 |  |  |  | 44 |  |  |  | 5 |
(Increase) decrease in other assets |  |  | (212 | ) |  |  | 72 |  |  |  | 76 |
Increase (decrease) in other liabilities |  |  | 351 |  |  |  | 1,228 |  |  |  | (48 | )
Net cash provided by (used in) operating activities |  |  | 11,054 |  |  |  | 9,578 |  |  |  | (955 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Investment in the Bank |  |  | (39,500 | ) |  |  | (50,000 | ) |  |  | (24,000 | )
Cash in lieu of fractional shares for business acquisition |  |  | — |  |  |  | — |  |  |  | (1 | )
Net cash used in investing activities |  |  | (39,500 | ) |  |  | (50,000 | ) |  |  | (24,001 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Net proceeds from issuance of subordinated debentures |  |  | — |  |  |  | 78,324 |  |  |  | — |
Repayment of acquired unsecured debt |  |  | — |  |  |  | — |  |  |  | (1,450 | )
Net proceeds from issuance of common stock |  |  | 48,442 |  |  |  | 779 |  |  |  | 631 |
Net proceeds from exercise of stock options |  |  | 62 |  |  |  | 80 |  |  |  | 7 |
Repurchase of surrendered stock from vesting of restricted stock awards |  |  | (344 | ) |  |  | (228 | ) |  |  | (173 | )
Excess tax benefit from share based compensation |  |  | — |  |  |  | 50 |  |  |  | 36 |
Cash dividends paid |  |  | (16,140 | ) |  |  | (13,415 | ) |  |  | (10,657 | )
Other, net |  |  | — |  |  |  | (303 | ) |  |  | (192 | )
Net cash provided by (used in) financing activities |  |  | 32,020 |  |  |  | 65,287 |  |  |  | (11,798 | )
Net increase (decrease) in cash and cash equivalents |  |  | 3,574 |  |  |  | 24,865 |  |  |  | (36,754 | )
Cash and cash equivalents at beginning of year |  |  | 25,475 |  |  |  | 610 |  |  |  | 37,364 |
Cash and cash equivalents at end of year |  | $ | 29,049 |  |  | $ | 25,475 |  |  | $ | 610 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=68079674&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
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