Dime Names David DeVito as Senior Vice President, Group Leader

Rhea-AI Summary

Dime Community Bancshares, Inc. (NASDAQ: DCOM) has appointed David “Dave” DeVito as Senior Vice President, Group Leader. Previously, DeVito held a similar position at People’s United Bank and was a senior lender at Suffolk County National Bank, where he managed significant commercial lending relationships. Conrad Gunther, Chief Lending Officer, emphasized DeVito's client-centric approach and strong community ties as key attributes for the company's growth amidst competitive market disruptions. Dime Community Bank boasts over $12.0 billion in assets, leading in deposit market share among community banks in Greater Long Island.

Positive

• Appointment of a well-regarded banker, which may enhance bank relationships.
• DeVito's experience with large commercial lending could support growth strategies.
• Dime maintains the highest deposit market share among community banks in Greater Long Island.

Negative

• None.

HAUPPAUGE, N.Y., April 18, 2022 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (the “Company” or “Dime”) (NASDAQ: DCOM), the parent company of Dime Community Bank (the “Bank”), announced today that David “Dave” DeVito will join the Company as Senior Vice President, Group Leader. Most recently, DeVito was Senior Vice Present and Team Leader at People’s United Bank.

Prior to People’s United Bank’s acquisition of Suffolk County National Bank (“Suffolk”), DeVito was a senior lender at Suffolk responsible for managing their largest commercial lending relationships.

Conrad Gunther, Chief Lending Officer of Dime, said, “Dave is a very well-regarded community banker with deep ties in his local communities and a proven track record. His client-centric focus makes him an excellent fit for Dime as we grow the premier business bank on Greater Long Island. We look forward to bringing him on board and capitalizing on the disruption in our marketplace from recently announced large M&A transactions involving our competitors.”

DeVito holds a bachelor’s degree in Finance from The Pennsylvania State University.

ABOUT DIME COMMUNITY BANCSHARES, INC.

Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over $12.0 billion in assets and the number one deposit market share among community banks on Greater Long Island ⁽¹⁾.

Dime Community Bancshares, Inc.
Investor Relations Contact:
Avinash Reddy
Senior Executive Vice President – Chief Financial Officer
Phone: 718-782-6200; Ext. 5909
Email: avinash.reddy@dime.com

⁽¹⁾ Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets.

FAQ

Who is David DeVito and what is his new role at Dime Community Bancshares?

David DeVito is the newly appointed Senior Vice President, Group Leader at Dime Community Bancshares, tasked with enhancing the bank's commercial lending sector.

What experience does David DeVito bring to Dime Community Bancshares?

DeVito has extensive experience from People’s United Bank and Suffolk County National Bank, where he managed significant commercial lending relationships.

How much assets does Dime Community Bank manage?

Dime Community Bank manages over $12.0 billion in assets.

What is Dime Community Bancshares' market share in Greater Long Island?

Dime Community Bancshares holds the number one deposit market share among community banks in Greater Long Island.