DIME COMMERCIAL BANCSHARES (DCOM) Stock News

Dime Community Bancshares (Nasdaq: DCOM) has declared a quarterly cash dividend of $0.25 per share for its Common Stock. The dividend will be paid on July 24, 2025 to stockholders of record as of July 17, 2025. The announcement highlights the company's consistent track record of maintaining uninterrupted dividend payments to shareholders.

Dime Community Bancshares (NASDAQ: DCOM), through its subsidiary Dime Community Bank, has announced the continuation of its commitment to supporting local businesses through the 10th annual Dime Community Bank $10K Small Business Challenge in Manhattan. The event, organized in partnership with 1010 WINS radio station, achieved a milestone with a record number of applicants from New York City competing for a $10,000 grant aimed at fostering business growth.

Kroll Bond Rating Agency (KBRA) has upgraded Dime Community Bancshares' (NASDAQ: DCOM) ratings outlook from "Stable" to "Positive" while maintaining its BBB+ rating for deposits and senior unsecured debt. The improved outlook reflects DCOM's successful strategic execution, particularly in capitalizing on market disruption following 2023 bank failures. The bank has added $2 billion in core deposits over two years, improved its liquidity profile, and reduced wholesale funding. KBRA highlighted Dime's superior credit quality, with a low 15bps average NCO ratio since the global financial crisis, minimal problem loans, and improving risk ratings. The bank's deposit costs remain lower than most KBRA-rated peers, supported by a healthy DDA mix.

Dime Community Bancshares (NASDAQ: DCOM) has secured approval from the New Jersey Department of Banking and Insurance to establish a new branch at 500 Boulevard of Americas in Lakewood, New Jersey. This approval follows previous authorizations from the Federal Reserve Bank of New York and the New York State Department of Financial Services. The company plans to begin construction in the second half of 2025, with the branch scheduled to open in early 2026. This expansion marks Dime's strategic move into the New Jersey market.

Dime Community Bancshares (NASDAQ: DCOM) has appointed Shawn Gines as Executive Vice President of Corporate and Specialty Finance, marking a significant step in the company's growth strategy. Gines, who will be based in Manhattan, joins from Webster Bank where he served as Regional President for NYC and New Jersey Metro Markets. In his new role, Gines will focus on expanding Dime's commercial lending operations, growing its corporate client base, overseeing the Fund Finance vertical, and developing new specialty verticals to diversify the bank's balance sheet. His extensive experience includes previous roles at Sterling National Bank, GE Capital, and Bank of America. CEO Stuart H. Lubow emphasized that Gines' appointment demonstrates Dime's ability to attract top banking talent.

Dime Community Bancshares (NASDAQ: DCOM) has secured key regulatory approvals from the Federal Reserve Bank of New York and the New York State Department of Financial Services to establish a new branch in Lakewood, New Jersey. The planned branch will be located at 500 Boulevard of the Americas, pending final approval from the New Jersey Department of Banking and Insurance. Construction is scheduled to commence in the second half of 2025, with the branch expected to open its doors in early 2026. This expansion marks Dime's strategic move into the New Jersey market.

Dime Community Bancshares (NASDAQ: DCOM) has announced the launch of a new fund finance vertical as part of its growth strategy. The company has appointed Michael Watts, former Senior Vice President at East West Bank, as Group Leader and Head of Fund Finance. Based in Manhattan, the new vertical will provide customized fund-level financing to the private equity industry.

This expansion follows Dime's successful establishment of Healthcare and Not-for-Profit verticals. The bank reported significant growth in Business loans, exceeding $450 million for the twelve-month period ended March 31, 2025. The Fund Finance vertical is expected to contribute to future growth once operational.

Dime Community Bancshares announced the hiring of Solomon Ponniah as Senior Vice President and Group Leader, strengthening its commercial lending division. Ponniah brings over 15 years of experience in Commercial Lending and joins from Popular Bank, where he served as Director of Business Banking.

The strategic hire aligns with Dime's expansion plans in the NYC metro area. CEO Stuart H. Lubow emphasized that bringing Ponniah on board supports their growth objectives. Ponniah expressed enthusiasm about joining Dime, citing the bank's quick customer response, flat organizational structure, and growth trajectory as key factors in his decision.

Dime Community Bancshares (Nasdaq: DCOM) has announced its Board of Directors has declared a quarterly cash dividend for its Series A Preferred Stock. The dividend amount is set at $0.34375 per share on the company's 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A. The payment is scheduled for May 15, 2025, and shareholders must be on record by May 8, 2025 to receive the dividend.