Dime Announces Expansion in Manhattan With Hire of Jim LoGatto

Rhea-AI Summary

Dime Community Bancshares (NASDAQ: DCOM) announced the appointment of Jim LoGatto as Executive Vice President, tasked with expanding the company's commercial banking operations in Manhattan. LoGatto brings extensive banking experience, having previously served as Executive Vice President and Director of US Private Banking at Israel Discount Bank of New York.

His career includes executive positions at Wells Fargo Bank and Independence Community Bank, with earlier roles at Irving Trust Company and Republic National Bank, where he reached the position of Managing Director. The strategic hire aligns with Dime's objective to strengthen its deposit and lending presence in the Manhattan market.

Positive

• Strategic expansion into Manhattan market through key executive hire
• Recruitment of seasoned banking executive with established Manhattan market presence

Negative

• None.

Dime Continues to be the Bank-of-Choice for Talented Bankers

HAUPPAUGE, N.Y., March 18, 2025 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”), announced today that Jim LoGatto has joined the Company as an Executive Vice President. LoGatto will be responsible for growing Dime’s commercial banking business in Manhattan.

Most recently, LoGatto served as Executive Vice President and Director of US Private Banking at Israel Discount Bank of New York. He also held various executive level positions at Wells Fargo Bank and Independence Community Bank. LoGatto began his career at Irving Trust Company and subsequently joined Republic National Bank where he rose to the position of Managing Director.

Stuart H. Lubow, President and Chief Executive Officer of Dime, said, “We are excited to attract a banker of Jim’s caliber to our organization. Jim is an extremely seasoned banker with a very strong reputation in the Manhattan marketplace. Hiring Jim is consistent with our stated goal of expanding our deposit and lending presence in Manhattan.”

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 $14 billion in assets and the number one deposit market share among community banks on Greater Long Island ⁽¹⁾.

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

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¹ Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets.

FAQ

What is the strategic significance of Jim LoGatto's appointment to DCOM's Manhattan expansion?

LoGatto's appointment as EVP aims to grow Dime's commercial banking business in Manhattan, expanding their deposit and lending presence in this key market.

What is Jim LoGatto's previous banking experience before joining DCOM?

LoGatto was EVP and Director of US Private Banking at Israel Discount Bank of NY, held executive positions at Wells Fargo and Independence Community Bank, and was Managing Director at Republic National Bank.

How does DCOM's Manhattan expansion align with their business strategy?

The expansion aligns with Dime's stated strategic goal of strengthening their deposit and lending presence in the Manhattan marketplace.

What role will Jim LoGatto hold at Dime Community Bank (DCOM)?

LoGatto joins as Executive Vice President, responsible for growing Dime's commercial banking business in Manhattan.