Moody’s Affirms Dime Community Bank’s “A3” Deposit Rating
On June 1, 2023, Dime Community Bancshares (NASDAQ: DCOM), the parent company of Dime Community Bank, announced that Moody’s Investors Service affirmed all of its ratings. The Bank’s long-term deposit rating remains at A3, and the Company's long-term issuer rating is affirmed at Baa3. Moody’s report highlighted several positive factors: Dime’s efficient operating platform, a significant portion of noninterest-bearing deposits (30% of total), no large unrealized securities losses, increased cash balances (5% of total assets as of March 31, 2023), and strong liquidity. Additionally, Dime’s CRE loan underwriting is robust, with a favorable maturity profile, and its capital profile is stable with a TCE/risk-weighted asset ratio of 9.4% as of March 31, 2023, up from 9.2% at year-end 2022.
Il 1 giugno 2023, Dime Community Bancshares (NASDAQ: DCOM), la società madre di Dime Community Bank, ha annunciato che Moody’s Investors Service ha confermato tutti i suoi rating. Il rating di deposito a lungo termine della Banca rimane a A3, e il rating di emittente a lungo termine della Società è confermato a Baa3. Il rapporto di Moody’s ha evidenziato diversi fattori positivi: la piattaforma operativa efficiente di Dime, una significativa porzione di depositi non onerosi (30% del totale), nessuna grande perdita su titoli non realizzati, un aumento dei saldi di cassa (5% del totale attivo al 31 marzo 2023) e una forte liquidità. Inoltre, l'underwriting dei prestiti CRE di Dime è solido, con un profilo di scadenza favorevole, e il suo profilo di capitale è stabile con un rapporto TCE/attivi ponderati per il rischio del 9,4% al 31 marzo 2023, in aumento rispetto al 9,2% alla fine del 2022.
El 1 de junio de 2023, Dime Community Bancshares (NASDAQ: DCOM), la empresa matriz de Dime Community Bank, anunció que Moody’s Investors Service confirmó todas sus calificaciones. La calificación de depósito a largo plazo del Banco se mantiene en A3, y la calificación de emisor a largo plazo de la Compañía se reafirma en Baa3. El informe de Moody’s resaltó varios factores positivos: la eficiente plataforma operativa de Dime, una porción significativa de depósitos no remunerados (30% del total), sin grandes pérdidas no realizadas en valores, mayores saldos de efectivo (5% de los activos totales al 31 de marzo de 2023) y una sólida liquidez. Además, el underwriting de préstamos CRE de Dime es robusto, con un perfil de vencimiento favorable, y su perfil de capital es estable con un ratio TCE/activos ponderados por riesgo del 9.4% al 31 de marzo de 2023, frente al 9.2% a finales de 2022.
2023년 6월 1일, Dime Community Bancshares (NASDAQ: DCOM), Dime Community Bank의 모회사,는 무디스 투자 서비스가 모든 평가등급을 유지했다고 발표했습니다. 은행의 장기 예금 등급은 A3로 유지되며, 회사의 장기 발행자 등급 또한 Baa3로 확인되었습니다. 무디스 보고서는 Dime의 효율적인 운영 플랫폼, 비이자 지급 예금의 상당 비율(총액의 30%), 큰 미실현 증권 손실 없음, 현금 잔고 증가(2023년 3월 31일 기준 총 자산의 5%), 강한 유동성 등의 여러 긍정적인 요소를 강조했습니다. 또한 Dime의 CRE 대출 심사는 견고하며 유리한 만기 프로필을 가지고 있고, 2023년 3월 31일 기준 자본 프로필은 안정적이며 위험 가중 자산 대비 TCE 비율은 9.4%로, 2022년 연말의 9.2%에서 증가했습니다.
Le 1er juin 2023, Dime Community Bancshares (NASDAQ: DCOM), la société mère de Dime Community Bank, a annoncé que Moody’s Investors Service avait confirmé toutes ses notations. La notation des dépôts à long terme de la Banque reste à A3, et la notation des émetteurs à long terme de l'Entreprise est confirmée à Baa3. Le rapport de Moody’s a mis en évidence plusieurs facteurs positifs : la plateforme opérationnelle efficace de Dime, une part significative de dépôts non rémunérés (30 % du total), aucune grande perte sur des titres non réalisés, une augmentation des soldes de trésorerie (5 % des actifs totaux au 31 mars 2023) et une forte liquidité. De plus, l'octroi de prêts CRE de Dime est solide, avec un profil d'échéance favorable, et son profil de capital est stable avec un ratio TCE/actifs pondérés par risque de 9,4 % au 31 mars 2023, en hausse par rapport à 9,2 % à la fin de 2022.
Am 1. Juni 2023 gab Dime Community Bancshares (NASDAQ: DCOM), das Mutterunternehmen der Dime Community Bank, bekannt, dass Moody’s Investors Service alle seine Ratings bestätigt hat. Die langfristige Einlageneinstufung der Bank bleibt bei A3, und das langfristige Emittentenrating des Unternehmens wird bei Baa3 bestätigt. Der Bericht von Moody’s hob mehrere positive Faktoren hervor: die effiziente Betriebsplattform von Dime, ein erheblicher Anteil an nicht verzinslichen Einlagen (30 % des Gesamten), keine großen unrealisierenden Wertpapierverluste, gestiegene Barguthaben (5 % der Gesamtheit der Vermögenswerte zum 31. März 2023) und starke Liquidität. Darüber hinaus ist die Kreditvergabe von Dime im CRE-Bereich robust, mit einem günstigen Fälligkeitsprofil, und ihr Kapitalprofil ist stabil mit einem TCE/Risiko-gewichteten Vermögensverhältnis von 9,4 % zum 31. März 2023, im Vergleich zu 9,2 % zum Jahresende 2022.
- Moody’s affirmed Dime Community Bank’s long-term deposit rating at A3.
- Moody’s affirmed Dime Community Bancshares' long-term issuer rating at Baa3.
- Dime has a significant portion of noninterest-bearing deposits (30% of total).
- No large unrealized securities losses.
- Increased cash balances to 5% of total assets as of March 31, 2023.
- Strong liquidity to cover uninsured deposits.
- Robust CRE loan underwriting with a favorable maturity profile.
- Stable capital profile with a TCE/risk-weighted asset ratio of 9.4% as of March 31, 2023.
- None.
HAUPPAUGE, N.Y., June 01, 2023 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (the “Company” or “Dime”) (NASDAQ: DCOM), the parent company of Dime Community Bank (the “Bank”), announced that Moody’s Investors Service (“Moody’s”), has affirmed all ratings of Dime Community Bancshares, Inc. and Dime Community Bank.
Moody’s affirmed the Bank’s long- term deposit rating of “A3”. In addition, Moody’s affirmed the Company’s long-term issuer rating of “Baa3.”
According to the Moody’s report:
- Dime’s efficient operating platform will continue to support overall earnings and noninterest-bearing deposits, which account for roughly
30% of total deposits, will limit growth of its funding costs - Dime does not have large unrealized securities losses, unlike many of its peers
- Dime boosted its cash balances to nearly
5% of total assets at March 31, 2023 and has sufficient liquidity, both on-balance sheet and from readily available sources, to cover its uninsured deposits, after adjusting for collateralized deposits and deposits with pass-through insurance - Dime is a strong CRE loan underwriter and Moody’s believes the maturity profile of its CRE is spread out over multiple years, a credit positive from an asset risk standpoint
- Dime’s capital profile has been stable. At March 31, 2023, Dime’s TCE / risk-weighted asset ratio was
9.4% , up from9.2% at year-end 2022
Kevin O’ Connor, Chief Executive Officer, stated, “We are pleased to receive an affirmation of our investment grade rating from Moody’s.”
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
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
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