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Basswood Capital principal is a director nominee of Bridge Bancorp

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Basswood Capital principal is a director nominee of Bridge Bancorp

Bridge Bancorp Inc.'s board has nominated Basswood Capital Management LLC principal Matthew Lindenbaum to stand for election as a director at the next annual shareholder meeting in May 2018.

Lindenbaum had earlier requested to be appointed to the board of the Bridgehampton, N.Y.-based company.

He was previously a director of Community National Bank, acquired by Bridge Bancorp unit Bridgehampton National Bank in June 2015.

"[Lindenbaum] was offered a board position in connection with the CNB acquisition," Bridge Bancorp President and CEO Kevin O'Connor said in a press release. "While he declined at the time, the board is pleased to announce his nomination for directorship today."

Also, Bridge Bancorp said that Bridgehampton National Bank received approval of its application with the Federal Reserve Bank of New York to remain a member of the Federal Reserve System.

O'Connor said in the filing that all regulatory approvals associated with the conversion to a New York-chartered commercial bank have been received. He added that the bank will operate under the new name BNB Bank in 2018 and onward.