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Dime Community Bancshares, Inc. Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A - DCOMP STOCK NEWS

Welcome to our dedicated page for Dime Community Bancshares Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A news (Ticker: DCOMP), a resource for investors and traders seeking the latest updates and insights on Dime Community Bancshares Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A stock.

Dime Community Bancshares, Inc. is the largest community bank headquartered in Brooklyn, New York, with a history dating back to 1864. The bank specializes in commercial mortgage finance in the NY metro area and operates 24 full-service branches across Brooklyn, Queens, Nassau, and the Bronx. Dime Community Bancshares Inc, as a holding company, gathers deposits from customers and invests them in various loan types, mortgage-backed securities, government obligations, and corporate securities. The recent news of Dime includes the addition of industry veteran Martin Ball to lead the National Deposits Group and the expansion of their Commercial Online Banking platform to facilitate international wires and real-time foreign currency rate requests.

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Dime Community Bancshares, Inc. (DCOM) reported a net income of $32.7 million for Q1 2022, a significant increase from a net loss of $22.9 million in Q1 2021. The non-interest-bearing deposits rose to 37.9% of total deposits, supporting their strategy in a rising interest rate environment. The net interest margin expanded by 5 basis points to 3.19%. However, non-interest expenses decreased, totaling $49.9 million, with the efficiency ratio at 51.8%. The company's credit quality improved, with non-performing loans at 0.39% of total loans.

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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 May 15, 2022, to shareholders on record as of May 9, 2022. Dime Community Bancshares operates Dime Community Bank, which boasts over $12.0 billion in assets and holds the top deposit market share among community banks in Greater Long Island.

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Dime Community Bancshares (NASDAQ: DCOM) has received its first ratings from Moody’s Investors Service. The Bank received a long-term deposit rating of A3, while the Company earned a long-term issuer rating of Baa3. Both ratings carry a Stable outlook. Moody's praised Dime's strong credit quality, operating efficiency, and disciplined lending practices. CEO Kevin O'Connor expressed pride in the investment-grade rating, emphasizing the Company's solid financial performance and franchise value. Dime Community Bank holds over $12 billion in assets.

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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.

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Dime Community Bancshares, Inc. (NASDAQ: DCOM) has appointed Jim Cloudman as First Vice President, Relationship Manager, responsible for business development in Nassau and Suffolk counties. Previously, Cloudman served as a Senior Portfolio Manager at People's United Bank and held various roles at State Bank of Long Island, Astoria Federal Savings, and JP Morgan Chase. Dime Community Bancshares oversees over $12.0 billion in assets and leads community banks in deposit market share on Greater Long Island.

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Dime Community Bancshares announces the appointment of Robert Maichin as Head of Middle Market Lending, effective April 7, 2022. Maichin brings 30 years of commercial banking experience, previously serving as Market President at Bank Leumi and Market Executive at JP Morgan Chase. His role will focus on enhancing Dime's commercial lending operations and developing specialized lending niches. CEO Kevin O’Connor highlighted Maichin's expertise as critical to Dime's strategy to grow as a premier business bank in Greater Long Island.

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Dime Community Bancshares, Inc. (NASDAQ: DCOM) will release its earnings for Q1 2022 on April 29, 2022, before U.S. markets open. A conference call with CEO Kevin O’Connor is scheduled for 8:30 a.m. ET the same day, allowing for a Q&A session afterward. This event will be webcast and archived for one year. Dime Community Bancshares holds over $12 billion in assets, ranking first in deposit market share among community banks on Greater Long Island.

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Dime Community Bancshares, Inc. (Nasdaq: DCOM) announced a quarterly cash dividend of $0.24 per share, payable on April 25, 2022, to stockholders of record as of April 18, 2022. This consistent dividend payment highlights the company’s commitment to returning value to its shareholders, maintaining an uninterrupted dividend trend. With assets exceeding $12.0 billion, Dime Community Bank leads in deposit market share among community banks in Greater Long Island.

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Dime Community Bancshares reported strong financial results for 2021, with net income of $96.7 million, or $2.45 per diluted share. In Q4 2021, net income was $33.5 million ($0.83 per diluted share), significantly up from $3.3 million in Q4 2020. Loan originations surpassed $500 million, with a non-interest-bearing deposits ratio at 37.5%. The efficiency ratio improved to 49.9%, and the company repurchased 850,901 shares, representing about 2% of outstanding shares. Despite a quarterly decline in total deposits by $215.1 million to $10.5 billion, the company is well-positioned for rising interest rates.

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Dime Community Bancshares, Inc. (Nasdaq: DCOM, DCOMP) announced a quarterly cash dividend of $0.34375 per share on its 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A. The dividend is payable on February 15, 2022, to shareholders on record as of February 7, 2022. The company, which has over $12.0 billion in assets, holds the top deposit market share among community banks on Greater Long Island. This dividend declaration reflects the company's ongoing commitment to returning value to shareholders.

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FAQ

What is the current stock price of Dime Community Bancshares Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A (DCOMP)?

The current stock price of Dime Community Bancshares Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A (DCOMP) is $19.42 as of December 24, 2024.

What is Dime Community Bancshares, Inc. known for?

Dime is known for being the largest community bank headquartered in Brooklyn, New York, and specializing in commercial mortgage finance.

Where does Dime Community Bancshares, Inc. operate its full-service branches?

Dime operates full-service branches throughout Brooklyn, Queens, Nassau, and the Bronx.

What types of loans does Dime Community Bancshares Inc invest in?

Dime invests in multifamily residential, commercial real estate, commercial and industrial (C&I) loans, and one-to-four family residential real estate loans.

What recent enhancements did Dime make to its Commercial Online Banking platform?

Dime expanded its Commercial Online Banking platform to allow clients to initiate international wires in USD and foreign currency, offer real-time foreign currency rate requests, and become an active member of the SWIFT Network.

Who recently joined Dime to lead the National Deposits Group?

Industry veteran Martin Ball recently joined Dime to lead the National Deposits Group.

What growth plan is Dime Community Bancshares, Inc. focused on executing?

Dime is focused on executing its growth plan by providing business customers with effective tools to run their businesses and continuing to expand its market presence.

What sets Dime apart in the Brooklyn market according to McDonough and Diconimakis?

According to McDonough and Diconimakis, Dime's single point of contact approach, best-in-class technology, and flat organizational structure set it apart in the Brooklyn market.

Dime Community Bancshares, Inc. Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A

Nasdaq:DCOMP

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