Dime Commercial Bank Launches Affordable Housing Group
Rhea-AI Summary
Dime Commercial Bank (NASDAQ:DCBG, DCOM) announced the launch of an Affordable Housing Group, entering the affordable and workforce housing financing space as part of its strategy to grow specialized commercial banking verticals. The group will serve developers focused on building or preserving affordable, workforce and supportive housing.
The new vertical will be led by Michael Camoia, who joins as Senior Vice President, Head of Affordable Housing. According to Dime, the group will provide pre-development, construction and permanent financing, make Low-Income Housing Tax Credit equity investments, and collaborate with state housing finance agencies and local CDFIs, aligning with its Community Reinvestment Act strategy.
Positive
- New Affordable Housing Group launched to expand specialized commercial banking verticals
- Experienced leader hired: Michael Camoia named SVP, Head of Affordable Housing
- Product scope broadened to LIHTC equity, construction, and permanent financing
- Strategic alignment with Community Reinvestment Act and community reinvestment focus
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
HAUPPAUGE, N.Y., Aug. 17, 2026 (GLOBE NEWSWIRE) -- Dime Commercial Bank today announced its entry into the affordable housing space with the launch of a dedicated group that will serve developers that are building or preserving affordable and workforce housing.
The launch of the Affordable Housing Group is part of Dime’s growth plan to expand specialized commercial banking verticals and drive organic growth through targeted talent acquisition and market expansion.
The group will be led by Michael Camoia, who joins Dime as Senior Vice President, Head of Affordable Housing. Mr. Camoia recently served as Senior Vice President, Director of Community Development and Community Reinvestment Act Finance at BankUnited.
The new vertical will focus on:
- Pre-development, construction, and permanent financing for affordable and workforce housing developers, including supportive housing.
- Tax Credit Equity Investment — Direct equity investments in Low-Income Housing Tax Credit (LIHTC) transactions supporting multifamily, mixed-use, and mixed-income developments.
- Collaborating with state housing finance agencies, and local CDFIs to expand access to subsidized capital for affordable housing sponsors.
“Affordable housing capacity is under strain across the country, and we see this expansion as consistent with our focus of reinvesting in our communities while at the same time developing solid commercial banking business and relationships,” said Stuart H. Lubow, President and Chief Executive Officer of Dime. “The launch reflects both our Community Reinvestment Act strategy and rising demand from developers and municipalities for reliable, well-capitalized lending partners. Dime continues to be the bank-of-choice for talented and entrepreneurial individuals, and we are excited to welcome Mike Camoia to lead this new vertical for us.”
ABOUT DIME COMMERCIAL BANCSHARES, INC.
Dime Commercial Bancshares, Inc. is the holding company for Dime Commercial Bank, a New York State-charted trust company with approximately
Investor Relations Contact:
Avinash Reddy
Senior Executive Vice President – Chief Operating Officer and 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 commercial 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.
