Bridge Bancorp in Bridgehampton, N.Y., is looking to raise $50 million by selling common stock.
The $3.8 billion-asset company said in a press release Monday that it will give the underwriters a 30-day option to buy an additional 15% of stock if there is ample demand.
Bridge said it expects to use the proceeds to support organic growth, to pursue strategic acquisitions and for other general corporate purposes. Sandler O'Neill and Keefe, Bruyette & Woods are the book-running managers.
In September, Bridge issued $80 million in subordinated debt in two separate transactions.