Bridge Bancorp : KBW Virtual Community Bank Investor Conference, July 28-30, 2020

KBW VIRTUAL COMMUNITY BANK INVESTOR CONFERENCE

July 28th - 30th, 2020

FORWARD LOOKING STATEMENTS

This release may contain statements relating to the future results of the Company (including certain projections and business trends) that are considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "PSLRA"). Such forward-looking statements, in addition to historical information, involve risk and uncertainties, and are based on the beliefs, assumptions and expectations of management of the Company. Words such as "expects," "believes," "should," "plans," "anticipates," "will," "potential," "could," "intends," "may," "outlook," "predicts," "projects," "would," "estimates," "assumes," "likely," and variation of such similar expressions are intended to identify such forward-looking statements. Examples of forward- looking statements include, but are not limited to, possible or assumed estimates with respect to the financial condition, expected or anticipated revenue, tax rates, and results of operations and business of the Company, including earnings growth; revenue growth in retail banking, lending and other areas; origination volume in the consumer, commercial and other lending businesses; current and future capital management programs; non-interest income levels, including fees from the title abstract subsidiary and banking services as well as product sales; tangible capital generation; market share; expense levels; and other business operations and strategies. The Company claims the protection of the safe harbor for forward-looking statements contained in the

PSLRA.

Factors that could cause future results to vary from current management expectations include, but are not limited to, changing economic conditions; legislative and regulatory changes, including increases in FDIC insurance rates; monetary and fiscal policies of the federal government; changes in tax policies; rates and regulations of federal, state and local tax authorities; changes in interest rates; deposit flows; the cost of funds; demands for loan products; demand for financial services; competition; changes in the quality and composition of BNB's loan and investment portfolios; changes in management's business strategies; changes in accounting principles, policies or guidelines; changes in real estate values; an unexpected increase in operating costs; expanded regulatory requirements; expenses related to our proposed merger with Dime Community Bancshares, Inc., unexpected delays related to the merger, or our inability to obtain regulatory approvals or satisfy other closing conditions required to complete the merger; and other risk factors discussed elsewhere, and in our reports filed with the Securities and Exchange Commission. In addition, the COVID-19 pandemic is having an adverse impact on the Company, its customers and the communities it serves. The adverse effect of the COVID-19 pandemic on the Company, its customers and the communities where it operates may adversely affect the Company's business, results of operations and financial condition for an indefinite period of time. The forward-looking statements are made as of the date of this report, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.

2

FORWARD LOOKING STATEMENTS

(CONTINUED)

Important Additional Information and Where to Find It

This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval with respect to the proposed merger with Dime Community Bancshares, Inc. (the "Merger"). No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, and no offer to sell or solicitation of an offer to buy shall be made in any jurisdiction in which such offer, solicitation or sale would be unlawful.

In connection with the Merger, the Company will file with the SEC a Registration Statement on Form S-4 (the "Registration Statement") that will include a joint proxy statement of the Company and Dime and a prospectus of the Company (the "Joint Proxy Statement/Prospectus"), and each of the Company and Dime may file with the SEC other relevant documents concerning the Merger. The definitive Joint Proxy Statement/Prospectus will be mailed to shareholders of the Company and Dime. Shareholders and investors are urged to read the Registration Statement and the Joint Proxy Statement/Prospectus, and any other relevant documents filed with the SEC by the Company or Dime and any amendments or supplements to those documents, carefully and in their entirety, because they will contain important information about the Company, Dime and the Merger.

Free copies of the Joint Proxy Statement/Prospectus and other relevant SEC filings may be obtained at the SEC's website, www.sec.gov, when they are filed. You will also be able to obtain these documents, when they are filed, free of charge, by directing a request to Bridge Bancorp, Inc., 2200 Montauk Highway, P.O. Box 3005, Bridgehampton, New York 11932, Attention: Corporate Secretary, or by calling [phone], ext. 7255, or to Dime Community Bancshares, Inc., 300 Cadman Plaza West, 8th Floor, Brooklyn, New York 11201, Attention: Corporate Secretary, or by calling [phone], or by accessing the Company's website at www.bnbbank.comunder the "Investor Relations" tab or by accessing Dime's website at www.dime.comunder the "About-Investor Relations" tab. The information on the Company's and Dime's websites is not, and shall not be deemed to be, a part of this presentation or incorporated into other filings either company makes with the SEC.

Participants in the Solicitation

The Company, Dime, their respective directors, and certain of their executive officers and employees may be deemed to be participants in the solicitation of proxies from shareholders in connection with the Merger. Information about the Company's directors and executive officers is available in its proxy statement for its 2020 annual meeting of shareholders, which was filed with the SEC on April 28, 2020, and information about Dime's directors and executive officers is available in its proxy statement for its 2020 annual meeting of shareholders, which was filed with the SEC on April 15, 2020. Information regarding all of the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Joint Proxy Statement/Prospectus regarding the Merger and other relevant materials to be filed with the SEC when they become available. Free copies of these documents may be obtained as described in the preceding paragraph.

3

BRIDGE BANCORP DIFFERENCE

• Largest community bank headquartered on Long Island
• Longstanding history of growth and success
• Attractive, high density footprint with favorable customer demographics
• Experienced, proven management team
• Customer focused, local decision-making
• Consistent shareholder return
• 53% DDA of IPC funding
• Stable core margin
• Active Interest Rate Risk Management
• Superior asset quality

Community Banking at its Best from Montauk to Manhattan

4

MISSION STATEMENT

To Be the Preeminent Community Bank in Our Markets, Providing Added Value and Superior Customer Service.

5

OUR RESPONSE TO COVID-19

Employees

Customers

Communities

	Return to Work phase-in began 7/6		Fee waivers
	for back office employees
		 Moratoriums - 500 total loans for
 Branch network is back to operating		$630 million, currently 271 loans for
	regular business hours		$403 million
	Branch employees receive 100%		Case-by-Case help - 79 relief loans
	weekly pay regardless of hours		for $4.2 million
	worked
			Paycheck Protection Program -
	All front-line employees received		Funded over 4,100 for ~$950 million
	special payments

• Enhanced facility cleaning protocols
• Additional PTO for employees required to quarantine
• All employees received special payments for team effort in issuing PPP loans

• Pledged a total of $1.8 million to support COVID-19 affected communities, including ~$500 thousand in grants to non-profit partners working on the COVID-19 relief effort in our footprint
• Grants focused on organizations working to address meeting the basic needs of vulnerable populations, providing emergency food, and health services
• Partnering with local governments and community organizations to help coordinate emergency relief
• Provided Paycheck Protection Program loans to hundreds of non-profit partners
• Additionally, set aside a portion of fees generated by the PPP to increase funding for local organizations.

6

INVESTMENT THESIS/RATIONALE

• Unique Franchise in Attractive Markets

$6.2 billion community bank operating in 39 locations $1 trillion+ deposit marketplace with above-average household income Established and growing C&I customer base

• Strong Core Funding: 53% Demand Deposits of IPC1

63% Annualized IPC Deposit Growth 2020 YTD

0.30% Cost of Deposits in Q2 2020

91% Loan-to-Deposit ratio

• Positioned for Rate Movement

Active Management of IRR

Stable Core Margin

• Thoughtful Strategic Vision

Strong Organic Growth + Disciplined M&A

Ongoing Balance Sheet Management

• Careful Stewards of Capital

8.4% Bank Leverage Ratio

6.5% Tangible Common Equity to Tangible Assets2 7.7% Tangible Common Equity to Tangible Assets without PPP loans2

• Experienced Management Team

	SVP & Above with Average 20+ years of experience
(1) Individuals, Partnerships, and Corporations	7

(2) See Appendix for a reconciliation of Tangible Common Equity / Tangible Assets (non-GAAP) financial measure.

PROFILE - CURRENT FRANCHISE

	Assets:	$6.2	billion		Market Cap: $379 million(1)
	Loans:	$4.6	billion		Branches/Locations:	39
	Deposits:	$5.1	billion		FTE Employees:	481

8

(1) As of July 16th, 2020, Stock Price of $19.15/share and 19.8M common shares outstanding

MERGER OF EQUALS

BDGE & DCOM

• Strategically Compelling

• • Enhanced scale, growth, and profitability
  • $11.5 Billion in assets
• Complementary Strengths
• • Fortifies complementary commercial and retail banking business lines
  • Overlapping systems, vendors, and operations for increased efficiency and smooth integration
• Dominant Market Share
• • Highly complementary branch footprint with limited overlap
  • Increased ability to serve the needs of small to mid sized businesses
• Shareholder Value Creation
• • Conservative an achievable efficiencies drives material capital generation and TBVPS growth
  • 0.4% accretive to BDGE TBV
• Financial & Cultural Compatibility
• • Two strong balance sheets with history of low loan losses
  • Creates a more neutral, balanced interest rate risk profile

9

TRANSACTION SUMMARY

Structure and Exchange Ratio

Management

Team

Board of Directors

Ownership

Headquarters

Name

Timing & Approvals

• 100% stock with Dime merging with and into Bridge
• Dime shareholders receive 0.6480 Bridge shares per Dime share
• Implied value of $14.80(1) per Dime share, or approximately $489M (1)(2) in aggregate
• Kevin O'Connor - Chief Executive Officer
• Stuart Lubow - President & Chief Operating Officer
• John McCaffery - Chief Risk Officer
• Avi Reddy - Chief Financial Officer
• 12 members: 6 Bridge / 6 Dime
• Kenneth Mahon, Dime's current Chief Executive Officer, to serve as Executive Chairman
• Marcia Hefter, Bridge's current Chairwoman, to serve as Lead Director
• 48% Bridge / 52% Dime
• Hauppauge, NY
• Corporate Office: New York, NY
• Holding company will be "Dime Community Bancshares, Inc." and the Bank will be "Dime Community Bank"
• Combined company will be listed on the Nasdaq under the symbol "DCOM"
• Leverages Dime's ubiquitous name and brand recognition
• Anticipated closing Q1 2021
• Approval of Dime and Bridge shareholders and customary regulatory approvals

10 10

1. Based on BDGE closing price of $22.84 as of June 30, 2020
2. Based on 33,004,413 shares of DCOM common stock outstanding and 34,910 DCOM options outstanding with a weighted average exercise price of $15.01 as of June 30, 2020

IMPRESSIVE BRANCH FOOTSTEP WITH SIGNIFICANT

SCARCITY VALUE

NYC

Brooklyn

Nassau

Suffolk

Hauppauge HQ

Bridgehampton

BDGE (38)

DCOM (28)

Enhanced Scale

$11.5B $8.9B $8.4B Assets Loans Deposits

Identified Cost Savings

Results in Improved Efficiency

~50%

Efficiency Ratio

Premier NY Franchise

66	Largest
Branch	Community Bank on
Locations	Greater Long Island(1)

11

Source: S&P Global Market Intelligence

1) Defined as community banks headquartered in Kings, Queens, Nassau & Suffolk counties with < $20 billion in assets

CONSOLIDATES PRESENCE IN HIGHLY ATTRACTIVE MARKETS

Affluent Markets with Significant Business Activity

# of Business Establishments

57,621

49,597	49,149	48,260

Kings (Brooklyn)

Queens

Suffolk County

Nassau County

Median Household Income

			#1		Community Bank Deposit Market
				Share on Greater Long Island(1)
	Rank	Institution		City, State	Branches Deposits ($B)	Mkt. Share
	1	Pro Forma		Hauppauge, NY	64	$8.1	22.0%
	2	Apple Financial Holdings Inc.	New York, NY	45	$6.1	16.4%
	3	Flushing Financial Corp.	Uniondale, NY	22	$5.5	14.7%
	4					Brooklyn, NY	27	$4.5	12.1%
	5	Ridgewood Savings Bank	Ridgewood, NY	27	$3.7	10.1%
	6					Bridgehampton, NY	37	$3.7	9.9%
	7	First of Long Island Corp.	Glen Head, NY	50	$3.3	8.8%
	8	Maspeth FSLA		Maspeth, NY	6	$1.2	3.3%
	9	Cathay General Bancorp	Los Angeles, CA	6	$1.0	2.7%
	10	Alma Bank		Astoria, NY	8	$0.7	2.0%
	11	Hope Bancorp Inc.		Los Angeles, CA	6	$0.7	1.9%
	12	Esquire Financial Holdings Inc.	Jericho, NY	2	$0.6	1.7%

$65,129

$119,185

$103,826

$72,540

13	First Central Savings Bank	Glen Cove, NY	9	$0.5	1.5%
14	Hanover Bancorp Inc.	Mineola, NY	5	$0.5	1.4%
15	RBB Bancorp	Los Angeles, CA	6	$0.5	1.2%
16	Amerasia Bank	Flushing, NY	2	$0.4	1.2%
17	Preferred Bank	Los Angeles, CA	1	$0.4	1.1%
18	Northfield Bancorp Inc.	Woodbridge, NJ	9	$0.4	1.1%
19	Cross County Savings Bank	Middle Village, NY	5	$0.4	1.0%

Kings (Brooklyn)

Queens

Suffolk County

Nassau County

Source: S&P Global Market Intelligence; United States Census Bureau; FDIC (data as of 6/30/19)

20 PDL Community Bancorp (MHC) Bronx, NY

6

$0.3

0.9%

1. Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks < $20 billion in assets

Note: "Establishments" defined as a single physical location at which 12 business is conducted or services or industrial operations are performed. It is not necessarily identical with a company or enterprise.

Q2 2020

• Net Income of $10.7 million or $.54 Per Share

ROA of 0.72% & ROE of 8.56%

Adjusted pre-tax,pre-provision net revenue of $20.9 million

• Net Interest Income $40.4 million

Tax Equivalent Net Interest Margin 3.00%

NIM affected by PPP and excess liquidity

• Loans of $4.6 billion

$1.2 billion or 35% growth from Q2 2019 $241 million or 7% of Non-PPP growth from Q2 2019

• Deposits of $5.1 billion

$841.8 million or 27% annualized IPC deposit growth from Q2 2019 53% Demand Deposits of IPC

"Continue to Deliver on the Mission to Our Customers and

Shareholders"

13

BALANCE SHEET

Balance Sheet

$ in thousands

Assets

Cash and Cash Equivalents

Securities

Loans Held for Sale

Loans held for Investment Allowance for Credit Losses Loans held for Investment, net

Other Assets

Total Assets

Liabilities & Stockholders' Equity

Non-interest bearing deposits Interest bearing deposits Total Deposits

Total Borrowings

Other Liabilities

Total Liabilities

Total Stockholders' Equity

Total Liabilities & Stockholders' Equity

Jun-20

Mar-20

Jun-19

• 489,781 $ 234,182 $ 158,640
  678,040 703,863 811,717

10,000 12,643 12,643

4,620,828 3,762,130 3,430,023

(43,401) (39,215) (31,171)

4,577,427 3,722,915 3,398,852

395,416 387,269 332,683

$ 6,150,664 $5,060,872 $4,714,535

• 2,164,194 $1,481,552 $1,385,709
  2,916,225 2,574,183 2,450,867
  5,080,419 4,055,735 3,836,576

420,659 370,150 319,795

146,965 141,734 82,959

5,648,043 4,567,619 4,239,330

502,621 493,253 475,205

$ 6,150,664 $5,060,872 $4,714,535

2Q 2020 Highlights

• Continued to bolster liquidity
• $950 million SBA PPP Originations
• IPC deposits up $881 million (SBA PPP)
• DDA as % of IPC improved to 53%
• Loan to Deposit ratio of 91%

14

INCOME STATEMENT

Income Statement

		Three Months Ended
$ in thousands		Jun-20		Mar-20		Jun-19
Interest Income	$	45,850	$	44,602	$	46,351
Interest Expense		5,418		7,952		10,834
Net Interest Income		40,432		36,650		35,517
Provision for Credit Losses		4,500		5,000		3,500
NII after provision for credit losses		35,932		31,650		32,017

2Q 2020 Highlights

	Net Interest Income up almost $4 million Quarter-
	Over-Quarter (QOQ)
	Interest expense down over $5 million compared
	to Q2 2019

Non-interest income:

Servce charges and other fees Title fees

Gain on sale of SBA loans Bank owned life insurance Loan swap fees

Fair value adjustment (Loans HFS) Other income

Total non-interest income

Non-interest expense: Salaries and employee benefits Occupancy and equipment Amortization of other intangible assets Other expense

Total non-interest expense

Income before income taxes

Income tax expense

Net Income

2,084	2,500	2,739
385	329	334
469	371	844
547	548	556
1,320	1,231	528
(2,643)	-	-
90	238	498
2,252	5,217	5,499
13,919	15,549	13,658
3,877	3,499	3,837
177	181	210
6,426	5,614	6,298
24,399	24,843	24,003
13,785	12,024	13,513
3,129	2,676	2,859
10,656	9,348	10,654

 NIM at 3.00%

 Swap income up Quarter-Over-Quarter and Year-

Over-Year

 Non-Interest Expense down Quarter-Over-Quarter

 Net income up Quarter-Over-Quarter and Year-

Over-Year despite fair value adjustment

15

($ in millions)

COVID-19/CECL

Allowance for Credit Losses (ACL)

				2ndQ Provision $4.5
					$4.0	$43.4
	$39.2	$(0.3)	$1.0	$0.5	$(1.0)
					Excluding SBA PPP	1.16%
Coverage %	1.04%					0.94%

3/31/2020	2ndQ Net Charge- Other 2ndQ Impacts SBA
	offs

PPP Reserve C&I LOC Paydowns Economic Impact	6/30/2020
(5bps)

• The increase in the 2ndQ ACL is primarily related to the reasonable and supportable forecast component of the newly adopted CECL standard which includes the impact of COVID-19
• Other 2ndQ impacts include an increase in specific reserves, provision for charge-offs, and changes in other qualitative factors resulting from changes in the portfolio

16

COVID-19 RESPONSE

• Moratoriums & Forbearance
• • 500 Loan Moratoriums were completed totaling $633MM (14% of total loan balances)
  • Currently 271 Loan Moratoriums totaling $403MM (9% of total loan balances) Moratoriums are further broken down into the following categories:

• 79 loans were funded in the Loan Relief program totaling $4.2MM with an average loan size of $53K

Data as of July 20, 2020

17

PAYMENT STATUS OF CURRENT LOAN MORATORIUMS

18

PAYCHECK PROTECTION PROGRAM (PPP)

OPPORTUNITIES

• 757 referrals YTD (June 2020)

• • 152% increase vs. 2019
• 494 installations YTD (June 2020)
• • 179% increase vs. 2019
• 65% installation rate from referral
• 1,500 deposit accounts for New PPP Customers at June 30th
• • Weighted Average Cost of Deposits of 0.07%
• $321 million in PPP loans for New PPP Customers at June 30th
• $14 million in additional non-PPP loans for New PPP Customers at June 30th
• 228 installed Treasury Management products for New PPP Customers at June 30th

19

PAYCHECK PROTECTION PROGRAM (PPP)

Total

$950MM

Total

Mean: $233K4,078 Loans

Median: $75K

Data as of June 30, 2020	20
Approximate fees: $30MM

LOAN PROFILE

CRE - Owner Q2 2020*

Occupied, 12%

Commercial &

Industrial, 29%

Installment/Consumer, 1%

Construction Residential , 12% and Land, 3%

Loan Exposure

Q2 2010

CRE - Owner

Occupied, 21%

CRE - Non-Owner

Occupied, 24%

Multi-family , 19%

CRE - Non-Owner

Occupied, 17%

• $4.6 billion in Loans, Average Yield of 3.82%
• Loan Growth of $1.4 billion over 5 years (Q2 2015 - Q2 2020)*
• Maintenance of Credit Discipline & Culture
• Consistent With Community Banking Model
• Consistent Growth Across All Products

and Markets

*excludes SBA PPP Loans

Commercial &

Industrial, 20%

Installment/Consumer,

1%

Construction and Land, 7%

Multi-family, 1%

Residential, 33%

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As of June 30

DEPOSIT PROFILE

Q2 2020

Demand Deposits	Money Market
36%
42%

Certificates of
Deposit	Savings & NOW
6%	16%

Deposit Comparison

Q2 2010

Money Market,

39%

Demand Deposits,

30%

• $5.1 billion in Deposits, Average Cost of 30 bps
• Deposit Growth of $2.3 billion over 5 years (Q2 2015 -Q2 2020)
• Branch Managers Well Known in the Community
• Top 2 Market Share in 12 Markets
• Among Lowest Cost of Funds of Peers

Savings & NOW,

18%

Certificates of
Deposit, 13%	22

As of June 30

ASSET QUALITY RATIOS

	ALLL/Total	Past Due &	NPLs/Total	YTD Net Loan Losses/	ALLL/NPLs
	Loans	NPLs/Loans	Loans	Avg Total Loans
June 30, 2019	0.91%	0.27%	0.16%	0.26%	566%
September 30, 2019	0.92%	0.30%	0.12%	0.17%	764%
December 31, 2019	0.89%	0.30%	0.12%	0.13%	750%
March 31, 2020	1.04%	0.48%		0.02%	851%
June 30, 2020	0.94%	0.28%	0.17%	0.03%	561%
March 31, 2020
Proxy Peer Group	0.90%	0.46%	0.60%	0. 05%	147%

23

Peer Group Source: S&P Global Market Intelligence

RATE REDUCTION RESPONSE

• Active management of deposit rate reductions in conjunction with Fed moves
• • 7 phases of tiered deposit interest rate reductions since Fed began lowering rates
  • Rates reduced on 3,800 deposit accounts with balances of $2.0 Billion since 3/1/201
  • • $12.7 million in annual interest expense savings1
• Continue to release high-rate brokered deposits
• Actively Manage the securities portfolio lower through selected sales and non- reinvestment of cash flows
• Maintain loan pricing discipline

Protect Net Interest Margin

24

• Figures as of 6/5/2020

QUARTERLY NET INTEREST MARGIN1

5.00
	4.30		4.29
							4.05		3.97
4.00
	3.30	3.40	3.26	3.26	3.40
													3.00
3.00	3.30	3.40	3.26	3.26
3.06

2.00

				1.54		1.41
							1.26
1.00											1.11
																0.68
0.00
		6/30/2019		9/30/2019		12/31/2019			3/31/2020	6/30/2020*
Average Yield on Loans	4.76			4.73		4.45			4.35			3.82
Adj. Avg Yield on Loans
(Excl. PPP Loans)	4.76			4.73		4.45			4.35			4.06
				Int. Earning Assets			Int. Bear. Liabilities	NIM tax equivalent			Adj. NIM (Excluding PPP loans)

(1) See Appendix for a reconciliation of NIM as reported (GAAP) to Adj. NIM (non-GAAP) financial measure.

* Net interest margin of 3.00% includes SBA PPP loans accruing

25

interest at 1% and deferred fee income, net of costs. Excluding PPP loans, Net interest margin would have been 6 bps higher, or 3.06%.

BACK-TO-BACK LOAN SWAP PROGRAM

2019

• $7.5 million in Non-interest income for 2019
• $393 million in total loans
• • Average loan size $6.4 million
• 50 total loans swapped

2020 YTD

• $4.0 million in Non-interest income budget for 2020
• $2.6 million in Non-interest income through Q2 2020
• • Annualized production of $5.1 million in Non-interest income
  • Average loan size $4.6 million
• 24 total loans swapped

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SUMMARY

• Strong & Consistent Financial Performance
• Outstanding Asset Quality and Balance Sheet Flexibility
• Superior Franchise Growth with Compelling Opportunities
• Well-Positionedin Economically Attractive Markets
• Experienced Management Team and Board of Directors
• Clear Understanding of Risks, Opportunities and Challenges

27

APPENDIX

BDGE MARKET CAP AND LIQUIDITY

	$800,000												$22
					Share Price							$20
	$700,000											TANGIBLE BOOK VALUE ($/share)
													$18
	$600,000												$16
MARKET CAP ($000)
$500,000											$22.84	$14
$24.04
												$12
$400,000
					$26.75							$10
$300,000												$8
$200,000												$6
												$4
	$100,000
													$2
	$-												$-
	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	Q2 2020
				Market Capitalization ($000)		Tangible Book Value
														29

CLASSIFICATION BY PRODUCT

SPECIAL MENTION

June 2020

Special Mention - 7

Total Outstanding: $43,565K

•	Residential Real Estate decrease was primarily due to a
	loan ($4.1MM) being downgraded to Substandard.
•	C & I increase was primarily due to a loan ($1MM) being	30
	upgraded from Substandard.

CLASSIFICATION BY PRODUCT

SUBSTANDARD

June 2020

Substandard - 8

Total Outstanding: $41,113K

• Residential Real Estate increase was primarily due a loan ($4.1MM) being downgraded from Special Mention

• C & I decrease was primarily due to a loan ($1MM)	31
being upgraded to Special Mention

NYC MSA DEPOSIT ANALYSIS

	Noninterest Demand/	Loans/Deposits (%)		Cost of Deposits
			Deposits (%)			140%	121%	120%								(bps)
						110%
					37%			120%	104%	98%	107%	98%	100%
40%							100%			93%	200
				31%								151		139
																	134
30%								80%							150
		21%		18%									108			109			93	107
						60%										81
	16%												100
20%			14%												57
10%			12%	40%
		8%										50
10%
							20%
0%								0%	Median FFIC	LBAI	DCOM KRNY	BDGE CNOB	FLIC	NFBK	0	Median	FFIC	LBAI	DCOM KRNY	BDGE	CNOB	FLIC	NFBK
	Median	FFIC	LBAI	DCOM KRNY	BDGE CNOB	FLIC	NFBK

	CDs/ Deposits (%)
50%					39%
40%				29%						10%
30%	22%					28%		27%	8%
18%								6%
20%		15%					13%
								4%
10%						4%				2%
0%	Median	FFIC	LBAI	DCOM	KRNY	BDGE	CNOB	FLIC	NFBK	0%

Jumbo CDs/

Deposits (%)

	9%	8%
6%	6%
5%		5%
4%
	3%	3%

Median

FFIC

LBAI

DCOM

KRNY

BDGE

CNOB

FLIC

NFBK

Avg Branch Size*

$250	$233
$200			$152		$161
$150					$107
$101	$95				$84
	$79
$100						$63
$50
$0
Median	FFIC	LBAI	DCOM	KRNY	BDGE	CNOB	FLIC	NFBK
*Branch data as of Q2 2019

Source: S&P Global Market Intelligence. Data as of Q1 2020 unless	32
otherwise specified

COST OF DEPOSIT ANALYSIS: PROXY PEERS

				Int Cost: Total Deposits (%)
Institution Name	2018Q1 2018Q2 2018Q3 2018Q4	2019Q1	2019Q2	2019Q3	2019Q4	2020Q1	Change
Eagle Bancorp, Inc.	0.60	0.90	1.03	1.17	1.20	1.30		1.34	1.20	1.07	-0.13
Brookline Bancorp, Inc.	0.58	0.72	0.91	1.03	1.16	1.27		1.28	1.22	1.11	-0.05
Flushing Financial Corporation	1.05	1.24	1.50	1.64	1.70	1.80		1.82	1.71	1.47	-0.22
Dime Community Bancshares, Inc.	0.98	1.09	1.22	1.31	1.38	1.49		1.50	1.31	1.14	-0.24
Lakeland Bancorp, Inc.	0.52	0.58	0.73	0.84	0.92	1.00		1.01	0.88	0.82	-0.10
Sandy Spring Bancorp, Inc.	0.51	0.63	0.75	0.86	0.97	1.03		1.02	0.91	0.84	-0.13
OceanFirst Financial Corp.	0.33	0.35	0.40	0.48	0.56	0.62		0.62	0.64	0.70	0.14
Kearny Financial Corp.	0.93	0.97	1.08	1.25	1.36	1.46		1.54	1.49	1.38	0.03
Meridian Bancorp, Inc.	1.02	1.19	1.30	1.47	1.56	1.65		1.62	1.54	1.37	-0.19
ConnectOne Bancorp, Inc.	0.82	0.97	1.09	1.23	1.34	1.46		1.47	1.38	1.23	-0.11
Century Bancorp, Inc.	0.71	0.80	0.94	1.11	1.24	1.30		1.26	1.18	1.09	-0.15
Univest Corporation of Pennsylvania	0.42	0.51	0.66	0.78	0.83	0.88		0.88	0.81	0.68	-0.15
Peapack-Gladstone Financial Corporation	0.77	0.90	1.07	1.18	1.26	1.35		1.34	1.16	1.05	-0.21
Oritani Financial Corp.	1.07	1.17	1.24	1.36	1.49	1.61		NA	NA	NA	NA
First of Long Island Corporation	0.57	0.75	0.76	0.78	0.93	1.05		1.07	0.98	0.93	0.00
First Connecticut Bancorp, Inc.	0.71	0.76	NA	NA	NA	NA		NA	NA	NA	NA
Enterprise Bancorp, Inc.	0.36	0.44	0.56	0.62	0.71	0.77		0.73	0.69	0.62	-0.08
Blue Hills Bancorp, Inc.	0.94	1.04	1.18	1.27	NA	NA		NA	NA	NA	NA
Hingham Institution for Savings	0.92	1.08	1.24	1.37	1.45	1.60		1.64	1.45	1.36	-0.09
CNB Financial Corporation	0.54	0.64	0.78	0.91	NA	1.07		1.12	1.16	1.03	NA
50th Percentile	0.71	0.85	1.05	1.17	1.24	1.30		1.28	1.18	1.07	-0.17
75th Percentile	0.53	0.64	0.75	0.84	0.92	1.03		1.02	0.90	0.83	-0.09
Bridge Bancorp, Inc.	0.39	0.52	0.67	0.75	0.85	0.87		0.76	0.63	0.57	-0.28
											33

Source: S&P Global Market Intelligence as of Q1 2020

IRR STRATEGIES

($ in 000's)

2017

2018

2019

Q2 2020

• Macro Swaps

$290,000

$240,000

$290,000

$405,000

• Loan Swaps

$147,967

$193,401

$823,894

$1,025,029

• O/N Borrowings as
percent of assets (avg.)	6.65%	0.14%	3.35%	0.00%

• Portfolio E-DUR

3.23 years 3.05 years

2.35 years

2.11 years

34

CONSERVATIVE SECURITIES PORTFOLIO

June 30, 2020

Corporate;

Other, 11%

Munis,

11%

Agencies,	Agency CMO, 55%
4%

MBS,

19%

• $603 Million in Securities
• Exceptional Credit Quality with 82% Guaranteed by the U.S. Government
• Effective Portfolio Duration is 2.11 Years

35

CAPITAL OVERVIEW

16.0%

14.0%

12.0%

10.0%

8.0%

6.0%

4.0%

2.0%

0.0%

12/31/2018

12/31/2019

6/30/2020

Bank Level		16.0%
			14.0%
			12.0%
			10.0%
			8.0%
			6.0%
			4.0%
			2.0%
			0.0%
Tier 1 Leverage	Tier 1 RBC	TRBC
9.9%	12.7%	13.6%			12/31/2018
10.1%	12.2%	13.0%			12/31/2019
8.4%	12.1%	13.1%			6/30/2020

Holding Company Level

Tier 1 Leverage	Tier 1 RBC	TRBC
8.1%	10.4%	13.6%
8.5%	10.2%	13.1%
7.0%	10.2%	13.2%

• Tier1 Leverage ratio at the Bank reflects $80 million in sub-debt contributed to the Bank
• Above Board adopted minimum standards & well-capitalized regulatory capital standards

36

RECONCILIATION OF NON-GAAP CALCULATION - NIM

37

RECONCILIATION OF NON-GAAP CALCULATION - TANGIBLE COMMON EQUITY TO TANGIBLE ASSETS

38