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Dime Community Bancshares, Inc. (NASDAQ: DCOM) is a prominent community bank headquartered in Brooklyn, New York, with a rich history dating back to its charter in 1864. The bank specializes in commercial mortgage finance in the NY metro area, and it serves depositors through 24 full-service branches located in Brooklyn, Queens, Nassau, and the Bronx. Dime Community Bancshares operates as a holding company, accumulating deposits from its local market and via the internet. These deposits are then invested in multifamily residential, commercial real estate, commercial and industrial (C&I) loans, and one-to-four family residential real estate loans. Additionally, the company also invests in mortgage-backed securities, obligations of the U.S. government and government-sponsored enterprises (GSEs), and corporate debt and equity securities.
Recently, Dime Community Bancshares has made significant strides in its digital transformation journey. The launch of ZSuite for Commercial Escrow Management marks a major advancement in their technology stack. This all-digital platform streamlines the commercial escrow and subaccounting processes, providing a seamless experience for property managers, law firms, municipalities, title companies, and other industries reliant on escrow and subaccounts. Michael Fegan, the Chief Technology and Operations Officer at Dime, expressed enthusiasm about this launch, emphasizing its alignment with Dime’s commitment to delivering top-tier digital experiences to its customers.
Dime Community Bancshares is the parent company of Dime Community Bank, which boasts assets exceeding $13.8 billion. It holds the number one deposit market share among community banks in the Greater Long Island area for banks with assets under $20 billion. The company continues to focus on customer service and technological advancements to enhance its offerings. With plans to expand its Commercial Online Banking platform to include international wire transfers and real-time foreign currency rate requests by the end of the second quarter of 2024, Dime remains dedicated to executing its growth strategy and providing its business clients with the necessary tools to succeed.
Dime Community Bancshares, Inc. (NASDAQ: DCOM) has appointed Naor Boxer as Senior Vice President, Group Director, with his team based in Rockville Centre. Boxer joins from Signature Bank, bringing a strong client-centric approach and local community ties. Stuart H. Lubow, President and COO, emphasized Boxer's proven banking experience as a key asset for Dime's growth strategy, particularly in expanding its business banking offerings across Greater Long Island. Dime Community Bank, the company's subsidiary, holds over $13.1 billion in assets, leading in deposit market share among community banks in the area.
Dime Community Bancshares, Inc. (NASDAQ: DCOM) announced its upcoming earnings release for the quarter ended March 31, 2023, scheduled for April 28, 2023, before U.S. market open. CEO Kevin O'Connor will discuss the financial performance during a conference call at 8:30 a.m. (ET), which will also feature a Q&A session. The conference call can be accessed via a live webcast and will be archived for one year.
The company holds over $13.1 billion in assets and leads the deposit market share among community banks in Greater Long Island, NY. For further investor inquiries, Avinash Reddy, Chief Financial Officer, is available to provide additional information.
Dime Community Bancshares, Inc. (Nasdaq: DCOM) has announced a 4.2% increase in its quarterly cash dividend, raising it from $0.24 to $0.25 per share. The dividend will be payable on April 24, 2023, to stockholders of record as of April 17, 2023. This increase reflects the company’s strong financial position. Dime Community Bancshares operates Dime Community Bank, which holds over $13.1 billion in assets and leads in deposit market share among community banks on Greater Long Island.
Dime Community Bancshares, Inc. (Nasdaq: DCOM, DCOMP) has declared a quarterly cash dividend of $0.34375 per share on its 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A. This dividend is payable on February 15, 2023, to shareholders holding the stock as of February 8, 2023. Dime Community Bancshares manages over $13.1 billion in assets and holds the top deposit market share among community banks in Greater Long Island, further highlighting its strong position in the sector.
Dime Community Bancshares reported a significant increase in net income for the fiscal year 2022, totaling $145.3 million ($3.73 per share), up 50% from the previous year. Fourth-quarter earnings also rose to $38.2 million, showcasing robust loan growth with $1.3 billion in loans added over the year. Noteworthy highlights include an 18% annualized increase in total loans, 43% growth in business loans, and strong credit quality with non-performing assets at only 0.26% of total assets. The efficiency ratio improved to 47.7%, while total deposits averaged $10.4 billion. The company also announced a $0.24 dividend per share during the fourth quarter.
Dime Community Bancshares (NASDAQ: DCOM) announced it will release its earnings for the quarter ended December 31, 2022, before U.S. markets open on January 27, 2023. The CEO, Kevin O’Connor, will discuss the financial performance during a conference call scheduled for 8:30 a.m. ET on the same day. Interested parties can listen via a webcast, which will be archived for one year. The company holds over $12.8 billion in assets and ranks first in deposit market share among community banks on Greater Long Island.
Dime Community Bancshares, Inc. (Nasdaq: DCOM) has declared a quarterly cash dividend of $0.24 per share, payable on January 24, 2023, to stockholders of record as of January 17, 2023. This reflects the company's commitment to maintaining uninterrupted dividends, showcasing its financial stability and ongoing support for shareholders. With assets exceeding $12.8 million, Dime Community Bank ranks first in deposit market share among community banks on Greater Long Island.
Dime Community Bancshares reported a net income of $37.7 million for Q3 2022, up from $36.7 million in Q2 2022. Earnings per diluted share increased to $0.98 compared to $0.94 in the previous quarter. Loan originations reached $800.9 million, contributing to a record loan growth of over $450 million. The net interest income surpassed $100 million, supported by a 3.38% net interest margin, a 9 basis point increase. The company maintained stable credit quality with non-performing loans at 0.41% of total loans.
Dime Community Bancshares, Inc. announced a quarterly cash dividend of $0.34375 per share on its 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A. This dividend is payable on November 15, 2022, to shareholders of record as of November 8, 2022. The company has over $12.8 billion in assets and holds the top deposit market share among community banks on Greater Long Island.
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