Keeping Account 05.03.12

Local business news

Brokers Move
    Saunders and Associates has announced that Sandra Woodward Pullman, the former vice president of the Corcoran Group in Bridgehampton, has joined its ranks as the vice president of Saunders’s Bridgehampton office.
    In addition to her work in the real estate business, Ms. Pullman is a trustee of the Rogers Memorial Library in Southampton, and is currently the president of the Southampton Golf Club 9 Hole Association. She and her husband, Don, have three grown children, one of whom has earned both silver and gold medals in the Special Olympics.
    Saunders now lists a total of 83 East End brokers.
    Also, Hal Zwick, formerly of Halstead Devlin McNiff, is moving over to Town and Country Real Estate in East Hampton. Mr. Zwick’s strong suit, according to a release from the firm, is in the realm of commercial real estate, due in no small part to his former role as a business owner here. He used to own BookHampton, the Snowflake restaurant on Pantigo Road, which is now Bostwick’s, and the Paradise Cafe in Sag Harbor.

B.N.B. First Quarter
    Bridge Bancorp, the parent company of the Bridgehampton National Bank, has announced its first quarter 2012 income, and the numbers are promising.
    Net income was up 36 percent over the same quarter of 2011 at $2.9 million and 35 cents a share, while returns on average assets and equity were at .88 percent and 11.52 percent respectively.
    Total assets, at $1.39 billion, showed a 29 percent increase over March 2011, with a loan growth of $121 million or 23 percent over last year’s numbers.
    Quarterly dividends ran $.23 per share. “We increased revenue and income by leveraging market opportunities, increasing deposits, and carefully deploying these funds as loans for new and existing customers, while still delivering high levels of customer service efficiently,” said Kevin M. O’Connor, the president and C.E.O. of Bridge Bancorp, in a statement.
    “For over 100 years this has been our business strategy and we believe, if effectively managed, it remains a viable formula for a successful community bank.”