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

Dime Community Bancshares, Inc. (Nasdaq: DCOM) has declared a quarterly cash dividend of $0.24 per share, scheduled for July 25, 2022, to shareholders of record as of July 18, 2022. This reflects the Company's ongoing commitment to providing uninterrupted dividends. Dime Community Bancshares is the holding company for Dime Community Bank, boasting over $12.0 billion in assets and leading deposit market share among community banks on Greater Long Island.

Dime Community Bancshares has announced a new stock repurchase program, allowing for the buyback of up to 1,948,314 shares, representing 5% of its outstanding stock as of May 25, 2022. This follows the completion of the existing repurchase program, which has 74,571 shares remaining. Repurchases will occur at management's discretion and may vary based on market conditions and the company’s financial performance. The repurchased shares will be held as treasury stock for corporate purposes.

Dime Community Bancshares (NASDAQ: DCOM) has successfully completed a public offering of $160 million in subordinated notes with a fixed-to-floating rate due in 2032. The offering was sold at par, yielding approximately $158 million in net proceeds post-expenses. Funds will be allocated for general corporate purposes, including repaying existing subordinated debt. The notes qualify as Tier 2 capital, strengthening the company's financial position.

Dime Community Bancshares, Inc. (NASDAQ: DCOM) has priced $160 million in 5.000% fixed-to-floating rate subordinated notes due 2032. Initially, the notes will bear a fixed interest of 5.000% per annum, transitioning to a floating rate after May 15, 2027. The net proceeds will be used for general corporate purposes, including repaying outstanding subordinated notes. Piper Sandler & Co. is the lead manager of the offering, which is expected to close on May 6, 2022. The notes are intended to qualify as Tier 2 capital for regulatory requirements.

Dime Community Bancshares, Inc. (NASDAQ: DCOM) has announced plans to offer $160 million in subordinated notes due 2032, which will qualify as Tier 2 capital for regulatory purposes. The net proceeds will be utilized for general corporate purposes, including repayment of existing subordinated notes. Piper Sandler & Co. is the active book-running manager, while Keefe, Bruyette, & Woods and Raymond James Financial are passive managers. This announcement is not an offer to sell securities and the securities are not insured by the FDIC.

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.

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.

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.

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.