Dime Announces Plans to Enter Lakewood, New Jersey
Dime Community Bancshares (NASDAQ: DCOM) has announced plans to expand its operations into Lakewood, New Jersey, with the Board of Directors approving the establishment of a new full-service, free-standing branch. Construction is scheduled for the second half of 2025, concurrent with the regulatory approval process, targeting an early 2026 opening.
The expansion strategy aims to strengthen Dime's presence in the Orthodox Jewish community and support the growth of their Private and Commercial Banking services. The move will enable the bank to better serve clients with operations in the Lakewood area.
Dime Community Bancshares (NASDAQ: DCOM) ha annunciato l'espansione delle sue attività a Lakewood, New Jersey, con l'approvazione da parte del Consiglio di Amministrazione della creazione di una nuova filiale indipendente e a servizio completo. I lavori di costruzione sono previsti per la seconda metà del 2025, in parallelo con il processo di approvazione normativa, puntando a un apertura all'inizio del 2026.
La strategia di espansione mira a rafforzare la presenza di Dime nella comunità ebraica ortodossa e a sostenere la crescita dei loro servizi di Private e Commercial Banking. Questa iniziativa permetterà alla banca di servire meglio i clienti con attività nell'area di Lakewood.
Dime Community Bancshares (NASDAQ: DCOM) ha anunciado planes para expandir sus operaciones en Lakewood, Nueva Jersey, con la aprobación por parte de la Junta Directiva para establecer una nueva sucursal independiente y con servicio completo. La construcción está programada para la segunda mitad de 2025, simultáneamente con el proceso de aprobación regulatoria, con la meta de una apertura a principios de 2026.
La estrategia de expansión busca fortalecer la presencia de Dime en la comunidad judía ortodoxa y apoyar el crecimiento de sus servicios de Banca Privada y Comercial. Este movimiento permitirá al banco atender mejor a los clientes con operaciones en el área de Lakewood.
Dime Community Bancshares (NASDAQ: DCOM)는 뉴저지 레이크우드로 사업을 확장할 계획을 발표했으며, 이사회는 새로운 독립형 전면 서비스 지점 설립을 승인했습니다. 건설은 2025년 하반기에 예정되어 있으며, 규제 승인 절차와 동시에 진행되어 2026년 초 개장을 목표로 하고 있습니다.
이번 확장 전략은 Dime이 정통 유대인 커뮤니티 내 입지를 강화하고 프라이빗 및 상업 은행 서비스의 성장을 지원하는 것을 목표로 합니다. 이를 통해 레이크우드 지역에서 영업하는 고객들에게 보다 나은 서비스를 제공할 수 있게 될 것입니다.
Dime Community Bancshares (NASDAQ : DCOM) a annoncé son projet d'étendre ses activités à Lakewood, New Jersey, avec l'approbation du conseil d'administration pour l'établissement d'une nouvelle agence autonome offrant un service complet. La construction est prévue pour le second semestre 2025, en parallèle avec le processus d'approbation réglementaire, visant une ouverture début 2026.
La stratégie d'expansion vise à renforcer la présence de Dime au sein de la communauté juive orthodoxe et à soutenir le développement de ses services de banque privée et commerciale. Cette initiative permettra à la banque de mieux servir ses clients opérant dans la région de Lakewood.
Dime Community Bancshares (NASDAQ: DCOM) hat Pläne angekündigt, seine Geschäftstätigkeiten nach Lakewood, New Jersey, auszuweiten, wobei der Vorstand die Errichtung einer neuen eigenständigen Filiale mit vollem Service genehmigt hat. Der Baubeginn ist für die zweite Hälfte des Jahres 2025 geplant, parallel zum Genehmigungsverfahren, mit dem Ziel einer Eröffnung Anfang 2026.
Die Expansionsstrategie zielt darauf ab, die Präsenz von Dime in der orthodox-jüdischen Gemeinschaft zu stärken und das Wachstum ihrer Private- und Commercial-Banking-Dienstleistungen zu fördern. Dieser Schritt ermöglicht es der Bank, Kunden mit Geschäften im Lakewood-Gebiet besser zu betreuen.
- Geographic expansion into new market
- Strategic growth of Private and Commercial Banking services
- Board approval secured for expansion plan
- Regulatory approvals still pending
- Construction and opening timeline extends to 2026, indicating delayed revenue generation
HAUPPAUGE, N.Y., April 17, 2025 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (Nasdaq: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”), today announced that its Board of Directors has approved a plan to expand into Lakewood, New Jersey.
A location for a full-service, free-standing branch has been identified. Management expects construction of the branch to take place in the second half of 2025, simultaneous with the regulatory approval process. The current plan is for a branch opening in early 2026.
Stuart H. Lubow, President and CEO, commented, "Our planned expansion into Lakewood builds upon and solidifies Dime's long-standing familiarity and commitment to the Orthodox Jewish community. It continues the tremendous growth of our Private and Commercial Bank and will allow us to service clients with operations in the area."
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
FORWARD-LOOKING STATEMENTS
Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated.
FAQ
When will Dime Community Bank (DCOM) open its new Lakewood branch?
What is the purpose of DCOM's expansion into Lakewood, New Jersey?
What is the current status of DCOM's Lakewood branch development?
What type of banking facility is DCOM planning in Lakewood?
