Skip to main content

BNB Bank Participates in the Federal Home Loan Bank of New York (FHLBNY) Small Business Recovery Grant Program

Written by Customer Service on . Posted in Public Companies.

BRIDGEHAMPTON, N.Y., June 16, 2020 (GLOBE NEWSWIRE) — BNB Bank (“BNB”), the subsidiary of Bridge Bancorp, Inc. (the “Company”) (NASDAQ®: BDGE) distributed the first $50,000 in Federal Home Loan Bank of New York (“FHLBNY”) Small Business Recovery Grants to local non-profits.
The recovery program will widely distribute $5 million in grants to provide working capital to affected businesses in New York. Under this program, BNB will make a total of $100,000 in grants to non-profits that were adversely impacted by the novel coronavirus pandemic on Long Island and New York City. BNB will award grants of up to $10,000 to each of the qualifying organizations that have seen significant revenue losses during this time.“The Covid-19 crisis has hit local businesses hard and we’ve been doing whatever it takes to help see them through.  We proudly funded approximately 4,000 SBA Paycheck Protection Loans and are happy to step up with this additional help for non-profits through FHLBNY’s grant program,” stated Kevin O’Connor, President and CEO. “Each of these organizations have experienced at least a 25% drop in revenue and these funds will help them provide vital services to assist in the recovery process,” continued O’Connor.The Bank is focusing its support on non-profits that are helping small businesses during the pandemic, organizations providing emergency food, health and job services and those groups providing educational services to young people. The Bank will distribute an additional $50,000 over the next two weeks. The first $50,000 was distributed to:Urban League of Long Island: A $7,500 grant to help support a youth summer camp for the economically disadvantaged.Junior Achievement of Long Island: A $10,000 grant for digital financial education in Long Island schools that are mostly in low-moderate income areas.Evergreen: A $7,500 grant to support small businesses in North Brooklyn.St. Nick’s Alliance: A $7,500 grant for workforce development/job training programs in Brooklyn.La Fuerza Unida CDC: A $7,500 grant to support small businesses on Long Island.Timothy Hill Children’s Ranch: A $10,000 grant to for supportive services to young people in Suffolk CountyAbout BNB Bank.
BNB Bank established in 1910, has assets of $6.1 billion and operates 39 branch locations serving Long Island and the greater New York metropolitan area. Through its branch network and its electronic delivery channels, BNB provides deposit and loan products and financial services to local businesses, consumers and municipalities. Title insurance services are offered through BNB’s wholly owned subsidiary, Bridge Abstract. Bridge Financial Services, Inc. offers financial planning and investment consultation.  BNB has a rich tradition of involvement in the community, supporting programs and initiatives that promote local business, the environment, education, healthcare, social services and the arts. For more information visit www.bnbbank.com.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.