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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. declared 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 May 15, 2024, to shareholders of record as of May 8, 2024.
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Dime Community Bancshares, Inc. reported a significant increase in earnings per share by 11% in the first quarter of 2024 compared to the prior quarter. The company experienced core deposit growth of 19% annualized, recruited talented bankers, increased capital ratios, and maintained stable asset quality. Net income available to common stockholders was $15.9 million, with a diluted EPS of $0.41. The company's focus on core deposits led to a reduction in wholesale funding by 41% versus year-end levels. Non-interest expenses declined by 3%, credit quality remained stable, and capital ratios improved. The company announced the addition of new banking groups in various counties, extending its market reach.
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Dime Community Bancshares, Inc. (NASDAQ: DCOM) announced the upcoming release of its Q1 2024 earnings on April 23, 2024, with a conference call led by CEO Stuart Lubow to discuss financial performance.
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Dime Community Bancshares, Inc. (NASDAQ: DCOM) announces the hiring of Klaudio Nikolla as Senior Vice President and Group Leader in middle market C&I lending operations. The move aims to boost growth in C&I business and diversify the company's balance sheet.
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Dime Community Bancshares, Inc. (NASDAQ: DCOM) continues its growth plan by hiring six deposit-focused Groups from Signature Bank and Flagstar Bank. The Groups managed billions in deposits at their previous institutions. This move aims to deepen Dime's presence in Brooklyn, Nassau county, and enter the Westchester market. Stuart H. Lubow, President and CEO, highlights the company's innovative approach and customer-centric focus.
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Dime Community Bancshares, Inc. sponsors the Economic Opportunity Council of Suffolk County to support homeless prevention and family development on Long Island.
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Dime Community Bancshares, Inc. (NASDAQ: DCOM) introduces Zelle® for Business, enhancing payment capabilities for business customers. The launch aims to provide efficient payment solutions to Private & Commercial banking clients, enabling direct payments to Dime Business Checking accounts within minutes.
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Dime Community Bancshares, Inc. (DCOM) declares a quarterly cash dividend of $0.25 per share of Common Stock, maintaining its streak of uninterrupted dividends.
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Dime Community Bancshares, Inc. (NASDAQ: DCOM) announces the formation of a National Deposits Group to expand into new deposit-rich verticals. Industry veteran Martin Ball joins as Head of National Deposits. The group aims to gather low-cost relationship-based deposits focusing on various industries. Dime emphasizes enhanced offerings and technology to attract and service customers.
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Dime Community Bancshares, Inc. (NASDAQ: DCOM) reaffirms its commitment to supporting children with cancer by extending its sponsorship with Sunrise Day Camp in 2024.
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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 $20.42 as of November 4, 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