Bridge Bancorp in Bridgehampton, N.Y., is adding an activist investor to its board.
The $4.3 billion-asset company said in a press release Friday that Matthew Lindenbaum, a principal at Basswood Capital Management, will become a director after its May annual meeting.
Lindenbaum was a director at Community National Bank, which Bridge bought in June 2015.
Lindenbaum “has been a significant shareholder … for several years and was offered a board position in connection with the CNB acquisition,” Kevin O’Connor, Bridge’s president and CEO, said in the release.
“While he declined at the time, the board is pleased to announce his nomination for directorship today,” O’Conner added. “His knowledge of our company and considerable experience as both a director and investor in community banking make him an excellent director candidate.”