Bridge Bancorp, parent of the Bridgehampton National Bank, announced plans for a possible secondary stock issue of up to $10 million.
The company said it filed a prospectus supplement with the Securities and Exchange Commission under which it may from time to time sell common stock through Sandler O'Neill & Partners, Lp at prevailing or negotiated prices or prices related to prevailing prices.
The one-bank holding company said it intends to use the proceeds from any sales for general corporate purposes, including for contributions to the capital of the bank. Bridgehampton has 20 branches, all in Suffolk.
Its shares, traded on the Nasdaq, closed Monday at $19.22, down 44 cents for the day in which the Nasdaq closed off 49.4 points, or 2 percent, at 2,523.1.