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Basswood Capital Further Reduces Stake In Bridge Bancorp (BDGE)

Published on June 29, 2016 at 9:30 am by Insider Monkey Staff in Hedge Funds, News

Matthew Lindenbaum‘s Basswood Capital has further reduced its stake in Bridge Bancorp Inc (NASDAQ:BDGE) according to a recent filing with the Securities and Exchange Commission.

Whereas the fund held 1.65 million shares at the end of the first quarter, it now holds 1.25 million shares or 7.2% of the company’s common stock. Matthew Lindenbaum also owns 161,015 shares which gives him control over an aggregate of 1.41 million shares of Bridge Bancorp or 8.1% of its outstanding stock. Together with other affiliates, Basswood Capital’s exposure rises to some 11.7% of the company’s common stock.

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Bridge Bancorp Inc (NASDAQ:BDGE) is the holding company of The Bridgehampton National Bank that operates 38 branches in Suffolk, Nassau counties, Bayside, and Manhattan. The company has a market cap of $484 million and pays an annual dividend of $0.92 per share, carrying a yield of 3.40%. So far this year, the stock has been trending sideways and has ended yesterday’s trading session at 27.75 per share, down by 7.4% for the year. The stock is currently trading at a trailing Price to Earnings (P/E) ratio of 18, in line with the industry average. For the first quarter of 2016, Bridge Bancorp posted a profit of $8.6 million or $0.49 per share, while revenues came in at $33.4 million.

Hedge fund sentiment towards Bridge Bancorp Inc (NASDAQ:BDGE) was unchanged during the quarter, with the same 8 funds holding the stock at the end of March. Together these funds controlled 14.7% of the company’s common stock. Jim Simons‘ Renaissance Technologies boosted its stake by 90% during the quarter to amass 172,900 shares, while Joshua Nash left his fund’s investment untouched. According to its latest 13F filing, Nash’s Ulysses Management held 461,814 shares of Bridge Bancorp.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Basswood Capital Management 0 1,251,076 0 1,251,076 1,251,076 7.2%
Basswood Partners 0 331,280 0 331,280 331,280 1.9%
Basswood Enhanced Long Short GP 0 512,228 0 512,228 512,228 2.9%
Basswood Opportunity Partners 0 225,109 0 225,109 225,109 1.3%
Basswood Opportunity Fund, Inc 0 112,894 0 112,894 112,894 0.7%
Basswood Enhanced Long Short Fund 0 512,228 0 512,228 512,228 2.9%
Basswood Financial Fund 0 82,596 0 82,596 82,596 0.5%
Basswood Financial Fund, Inc 0 29,865 0 29,865 29,865 0.2%
Basswood Financial Long Only Fund 0 23,575 0 23,575 23,575 0.1%
BCM Select Equity I Master, Ltd 0 0 0 0 0 0.0%
Matthew Lindenbaum 161,015 1,251,076 161,015 1,251,076 1,412,091 8.1%
Bennett Lindenbaum 138,282 1,251,076 138,282 1,251,076 1,389,358 8.0%
Abigail Tambor 0 97,202 0 97,202 97,202 0.6%
Nathan Lindenbaum 3,913 402,236 3,913 402,236 406,149 2.3%
Nathan J Lindenbaum 1995 Children Trust 0 50,197 0 50,197 50,197 0.3%
Naftali Asher Investments 0 65,970 0 65,970 65,970 0.4%
Victoria and Benjamin Feder 0 87,327 0 87,327 87,327 0.5%
Victoria and Ben Feder s 1996 Children s Trust 0 9,875 0 9,875 9,875 0.1%
Marcel Lindenbaum 68,937 0 68,937 0 68,937 0.4%
Shari A. Lindenbaum 1994 Children s Trust 0 20,540 0 20,540 20,540 0.1%
Shari A. Lindenbaum 0 116,167 0 116,167 116,167 0.7%
Ray Lindenbaum 0 9,875 0 9,875 9,875 0.1%
Shai Tambor 0 184,529 0 184,529 184,529 1.1%
MGS Partners 0 81,000 0 81,000 81,000 0.5%

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Page 1 of 33 – SEC Filing

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Under the Securities Exchange Act of 1934)
 (Amendment No. 1)*
Bridge Bancorp, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
108035106
(CUSIP Number)
Basswood Capital Management, L.L.C.
645 Madison Avenue, 10th Floor
New York, NY 10022
Attn: Matthew Lindenbaum
With a copy to:
Willkie Farr & Gallagher LLP
787 Seventh Avenue
New York, NY 10019
Attn: Michael A. Schwartz, Esq.
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
June 21, 2016
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-l(e), 240.13d-l(f) or 240.13d-1(g), check the following box.  ☐
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.
*
The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Exchange Act”) or otherwise subject to the liabilities of that section of the  Exchange Act but shall be subject to all other provisions of the Exchange Act (however, see the Notes).  

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Page 2 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Basswood Capital Management, L.L.C.
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
AF
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
Delaware
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
1,251,076
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
1,251,076
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
1,251,076
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
7.2%
14.
Type of Reporting Person (See Instructions)
IA

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Page 3 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Basswood Partners, L.L.C.
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
AF
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
Delaware
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
331,280
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
331,280
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
331,280
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
1.9%
14.
Type of Reporting Person (See Instructions)
OO

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Page 4 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Basswood Enhanced Long Short GP, LLC
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
AF
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
Delaware
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
512,228
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
512,228
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
512,228
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
2.9%
14.
Type of Reporting Person (See Instructions)
OO

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Page 5 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Basswood Opportunity Partners, LP
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
WC
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
Delaware
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
225,109
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
225,109
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
225,109
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
1.3%
14.
Type of Reporting Person (See Instructions)
PN

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Page 6 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Basswood Opportunity Fund, Inc.
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
WC
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
Cayman Islands
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
112,894
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
112,894
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
112,894
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
0.7%
14.
Type of Reporting Person (See Instructions)
CO

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Page 7 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Basswood Enhanced Long Short Fund, LP
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
WC
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
Delaware
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
512,228
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
512,228
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
512,228
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
2.9%
14.
Type of Reporting Person (See Instructions)
PN

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Page 8 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Basswood Financial Fund, LP
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
WC
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
Delaware
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
82,596
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
82,596
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
82,596
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
0.5%
14.
Type of Reporting Person (See Instructions)
PN

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Page 9 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Basswood Financial Fund, Inc.
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
WC
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
Cayman Islands
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
29,865
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
29,865
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
29,865
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
0.2%
14.
Type of Reporting Person (See Instructions)
CO

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Page 10 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Basswood Financial Long Only Fund, LP
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
WC
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
Delaware
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
23,575
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
23,575
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
23,575
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
0.1%
14.
Type of Reporting Person (See Instructions)
PN

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Page 11 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
BCM Select Equity I Master, Ltd.
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
WC
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
Cayman Islands
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
0
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
0
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
0
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
0.0%
14.
Type of Reporting Person (See Instructions)
CO

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Page 12 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Matthew Lindenbaum
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
AF
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
United States
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
161,015
  8.
Shared Voting Power
1,251,076
  9.
Sole Dispositive Power
161,015
10.
Shared Dispositive Power
1,251,076
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
1,412,091
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
8.1%
14.
Type of Reporting Person (See Instructions)
IN/HC

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Page 13 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Bennett Lindenbaum
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
AF
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
United States
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
138,282
  8.
Shared Voting Power
1,251,076
  9.
Sole Dispositive Power
138,282
10.
Shared Dispositive Power
1,251,076
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
1,389,358
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
8.0%
14.
Type of Reporting Person (See Instructions)
IN/HC

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Page 14 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Abigail Tambor 2012 Children’s Trust
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
WC
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
New York
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
97,202
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
97,202
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
97,202
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
0.6%
14.
Type of Reporting Person (See Instructions)
OO

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Page 15 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Nathan Lindenbaum
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
PF
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
United States
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
3,913
  8.
Shared Voting Power
 402,236
  9.
Sole Dispositive Power
3,913
10.
Shared Dispositive Power
402,236
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
406,149
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
2.3%
14.
Type of Reporting Person (See Instructions)
IN

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Page 16 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Nathan J Lindenbaum 1995 Children Trust
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
WC
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
New Jersey
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
50,197
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
50,197
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
50,197
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
0.3%
14.
Type of Reporting Person (See Instructions)
OO

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Page 17 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Naftali Asher Investments LLC
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
WC
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
Delaware
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
65,970
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
65,970
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
65,970
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
0.4%
14.
Type of Reporting Person (See Instructions)
OO

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Page 18 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Victoria and Benjamin Feder 2012 Children’s Trust
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
WC
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
New York
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
87,327
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
87,327
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
87,327
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
0.5%
14.
Type of Reporting Person (See Instructions)
OO

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Page 19 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Victoria and Ben Feder’s 1996 Children’s Trust
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
WC
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
New York
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
9,875
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
9,875
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
9,875
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
0.1%
14.
Type of Reporting Person (See Instructions)
OO

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Page 20 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Marcel Lindenbaum 
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
PF
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
United States
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
68,937
  8.
Shared Voting Power
0
  9.
Sole Dispositive Power
68,937
10.
Shared Dispositive Power
0
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
68,937
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
0.4%
14.
Type of Reporting Person (See Instructions)
IN

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Page 21 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Shari A. Lindenbaum 1994 Children’s Trust
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
WC
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
New Jersey
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
20,540
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
20,540
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
20,540
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
0.1%
14.
Type of Reporting Person (See Instructions)
OO

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Page 22 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Shari A. Lindenbaum
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
AF
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
United States
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
116,167
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
116,167
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
116,167
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
0.7%
14.
Type of Reporting Person (See Instructions)
IN

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Page 23 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Ray Lindenbaum
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
AF
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
United States
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
9,875
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
9,875
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
9,875
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
0.1%
14.
Type of Reporting Person (See Instructions)
IN

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Page 24 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
Shai Tambor
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
AF
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
United States
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
184,529
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
184,529
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
184,529
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
1.1%
14.
Type of Reporting Person (See Instructions)
IN

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Page 25 of 33 – SEC Filing

CUSIP No. 108035106
  1.
Name of Reporting Person
MGS Partners, LLC
  2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)  ☐        (b)  ☒
  3.
SEC Use Only
  4.
Source of Funds (See Instructions)
WC
  5.
Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    ☐
  6.
Citizenship or Place of Organization
New Jersey
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With
  7.
Sole Voting Power
0
  8.
Shared Voting Power
81,000
  9.
Sole Dispositive Power
0
10.
Shared Dispositive Power
81,000
11.
Aggregate Amount Beneficially Owned by Each Reporting Person
81,000
12.
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    ☐
13.
Percent of Class Represented by Amount in Row (11)
0.5%
14.
Type of Reporting Person (See Instructions)
OO

Follow Dime Community Bancshares Inc. (NASDAQ:DCOM)

Page 26 of 33 – SEC Filing

This Amendment No. 1 to Schedule 13D (this “Amendment No. 1”) is being filed with respect to the common stock, par value $0.01 per share (the “Common Stock”), of Bridge Bancorp, Inc. (the “Issuer”), to amend the Schedule 13D filed on June 29, 2015 (as amended by this Amendment No. 1, the “Schedule 13D”).
Item 3. Source and Amount of Funds or Other Consideration
Item 3 of the Schedule 13D is amended to reflect the following:
The Funds (other than Basswood Opportunity Partners, LP and Basswood Opportunity Fund, Inc.) and a managed account expended an aggregate of $22,502,143 in cash (including commissions, if any) from their working capital to acquire the 913,073 shares of Common Stock directly owned by them.  Basswood Opportunity Partners, LP acquired the 225,109 shares of Common Stock directly owned by it upon conversion in the Merger (as defined in Item 4) of its shares of common stock of Community (as defined in Item 4).  Basswood Opportunity Fund, Inc. acquired the 112,894 shares of Common Stock directly owned by it upon conversion in the Merger of its shares of common stock of Community.
                The Lindenbaum Reporting Persons directly holding shares of Common Stock acquired all such shares upon conversion in the Merger of shares of Common Stock of Community owned by them.
The Funds and managed account generally effect purchases through margin accounts maintained for them with each of J.P Morgan Securities LLC, Morgan Stanley & Co., and BNP Paribas Prime Brokerage, which may extend margin credit to the Funds and managed account as and when required to open or carry positions in the margin accounts, subject to applicable Federal margin regulations, stock exchange rules and the firm’s credit policies.  In such instances, the positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the accounts.
Item 5. Interest in Securities of the Issuer
Items 5(a), 5(b) and 5(c) of the Schedule 13D are amended to reflect the following:
 (a) and (b) As of the date of this Schedule 13D, each of the Reporting Persons beneficially owns shares of Common Stock in such numbers as set forth on the cover pages of this Schedule 13D.  The total number of shares each of the Reporting Persons beneficially owns represents such percentages of the Common Stock outstanding as set forth on the cover pages to this Schedule 13D.  The beneficial ownership percentages in this Schedule 13D are calculated based upon the 17,458,781 shares of Common Stock outstanding as of May 6, 2016, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the “Commission”) for the quarterly period ended March 31, 2016 and filed on May 10, 2016.
The Management Company, Matthew Lindenbaum and Bennett Lindenbaum share voting and dispositive power over the 1,251,076 shares of Common Stock held directly by the Funds and a managed account.  Basswood Partners, the Management Company, Matthew Lindenbaum and Bennett Lindenbaum share voting and dispositive power over the 331,280 shares of Common Stock held directly by Basswood Financial Fund, LP, Basswood Opportunity Partners, LP and Basswood Financial Long Only Fund, LP.  Basswood Long Short GP, the Management Company, Matthew Lindenbaum and Bennett Lindenbaum share voting and dispositive power over the 512,228 shares of Common Stock held directly by Basswood Enhanced Long Short Fund, LP.  Nathan Lindenbaum has voting and dispositive power over the 81,000 shares of Common Stock held directly by MGS Partners, LLC and the 20,540 shares of Common Stock held directly by the Shari A. Lindenbaum 1994 Children’s Trust.  Nathan Lindenbaum and Shai Tambor share voting and dispositive power over the 97,202 shares of Common Stock held directly by Abigail Tambor 2012 Children’s Trust and the 87,327 shares of Common Stock held directly by the Victoria and Benjamin Feder 2012 Children’s Trust.  Nathan Lindenbaum and Shari A. Lindenbaum share voting and dispositive power over the 50,197 shares of Common Stock held directly by Nathan J Lindenbaum 1995 Children Trust and the 65,970 shares of Common Stock held directly by Naftali Asher Investments LLC. Ray Lindenbaum has voting and dispositive power over the 9,875 shares of Common Stock held directly by the Victoria and Ben Feder’s 1996 Children’s Trust.
By virtue of the relationships among the Basswood Reporting Persons and family relationships among Matthew and Bennett Lindenbaum and the Lindenbaum Reporting Persons, the Reporting Persons may be deemed to be a “group” within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934 and Rule 13d-5(b)(1) thereunder.  If deemed to be a “group”, such persons would collectively beneficially own 11.7% of the Common Stock.  Each of the Reporting Persons expressly disclaims voting or

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Page 27 of 33 – SEC Filing

 investment power with respect to shares of Common Stock beneficially owned by each other Reporting Person, except to the extent otherwise disclosed in this Schedule 13D.
(c) During the past sixty days, the Reporting Persons have effected the trades in the Common Stock that are listed on Annex I hereto, all of which were effected on the Nasdaq Stock Market, LLC.
Item 7. Material to Be Filed as Exhibits
1)
Joint Filing Agreement dated as of June 29, 2015.

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Page 28 of 33 – SEC Filing

SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: June 28, 2016
Basswood Capital Management, L.L.C.
By:
/s/ Bennett Lindenbaum                             
Name: Bennett Lindenbaum
Title: Managing Member
Basswood Partners, L.L.C.
By:
/s/ Bennett Lindenbaum                             
Name: Bennett Lindenbaum
Title: Managing Member
Basswood Enhanced Long Short GP, LLC
By:
/s/ Bennett Lindenbaum                             
Name: Bennett Lindenbaum
Title: Managing Member
Basswood Opportunity Partners, LP
By: Basswood Capital Management, L.L.C.
By:
/s/ Bennett Lindenbaum                            
Name: Bennett Lindenbaum
Title: Managing Member
[Signature Page to Amendment No. 1 to Bridge Bancorp 13D]

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Page 29 of 33 – SEC Filing

Basswood Opportunity Fund, Inc.
By: Basswood Capital Management, L.L.C.
By:
/s/ Bennett Lindenbaum                           
Name: Bennett Lindenbaum
Title: Managing Member
Basswood Enhanced Long Short Fund, LP
By: Basswood Capital Management, L.L.C.
By:
/s/ Bennett Lindenbaum                           
Name: Bennett Lindenbaum
Title: Managing Member
Basswood Financial Fund, LP
By: Basswood Capital Management, L.L.C.
By:
/s/ Bennett Lindenbaum                          
Name: Bennett Lindenbaum
Title: Managing Member
Basswood Financial Fund, Inc.
By: Basswood Capital Management, L.L.C.
By:
/s/ Bennett Lindenbaum                          
Name: Bennett Lindenbaum
Title: Managing Member
[Signature Page to Amendment No. 1 to Bridge Bancorp 13D]

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Page 30 of 33 – SEC Filing

Basswood Financial Long Only Fund, LP
By: Basswood Capital Management, L.L.C.
By:
/s/ Bennett Lindenbaum                         
Name: Bennett Lindenbaum
Title: Managing Member
BCM Select Equity I Master, Ltd.
By: Basswood Capital Management, L.L.C.
By:
/s/ Bennett Lindenbaum                         
Name: Bennett Lindenbaum
Title: Managing Member
/s/ Matthew Lindenbaum                                  
Matthew Lindenbaum
/s/ Bennett Lindenbaum                                     
Bennett Lindenbaum
[Signature Page to Amendment No. 1 to Bridge Bancorp 13D]

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Page 31 of 33 – SEC Filing

Abigail Tambor 2012 Children’s Trust
By:
/s/ Nathan J. Lindenbaum                           
Name: Nathan J. Lindenbaum
Title: Trustee
/s/ Nathan Lindenbaum                                        
Nathan Lindenbaum
MGS Partners, LLC
By:
/s/ Nathan Lindenbaum                                
Name: Nathan Lindenbaum
Title: Managing Member
Nathan J Lindenbaum 1995 Children Trust
By:
/s/ Shari A. Lindenbaum                               
Name: Shari A. Lindenbaum
Title: Trustee
Naftali Asher Investments LLC
By:
/s/ Shari A. Lindenbaum                               
Name: Shari A. Lindenbaum
Title: Manager
[Signature Page to Amendment No. 1 to Bridge Bancorp 13D]

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Page 32 of 33 – SEC Filing

Victoria and Benjamin Feder 2012 Children’s Trust
By:
/s/ Nathan J. Lindenbaum                              
Name: Nathan J. Lindenbaum
Title: Trustee
Victoria and Ben Feder’s 1996 Children’s Trust
By:
/s/ Ray Lindenbaum                                        
Name: Ray Lindenbaum
Title: Trustee
/s/ Marcel Lindenbaum                                             
Marcel Lindenbaum
Shari A. Lindenbaum 1994 Children’s Trust
By:
/s/ Nathan J. Lindenbaum                                  
Name: Nathan J. Lindenbaum
Title: Trustee
/s/ Shari A. Lindenbaum                                             
Shari A. Lindenbaum
/s/ Ray Lindenbaum                                                    
Ray Lindenbaum
/s/ Shai Tambor                                                           
Shai Tambor
[Signature Page to Amendment No. 1 to Bridge Bancorp 13D]

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Page 33 of 33 – SEC Filing

Annex I
Fund Name
Trade Date
Shares Purchased (Sold)
Price (Gross)
Basswood Opportunity Partners, LP
5/2/2016
(1,703)
30.37
Basswood Opportunity Partners, LP
5/4/2016
(9,516)
29.10
BCM Select Equity I Master, Ltd.
6/21/2016
(12,095)
29.17

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