Dime Announces Expansion In Manhattan With New Madison Avenue Branch

Rhea-AI Summary

Dime Community Bancshares (NASDAQ: DCOM) has announced the opening of a new full-service branch at 232 Madison Avenue in Manhattan after receiving all necessary regulatory approvals. The strategic location, situated at the corner of Madison Avenue and 37th Street, represents the bank's expansion into Manhattan.

The new branch will be led by Lisa Reardon, a former branch manager from The First National Bank of Long Island. This expansion aligns with Dime's selective growth strategy and capitalizes on market disruption opportunities. The company's leadership, including CEO Stuart H. Lubow and EVP Jim Manseau, expressed enthusiasm about the strategic importance of this Manhattan location.

Positive

• Strategic expansion into Manhattan market with prime Madison Avenue location
• Successful recruitment of experienced branch manager from competitor bank
• All regulatory approvals secured for new branch opening

Negative

• None.

From Montauk to Manhattan

HAUPPAUGE, N.Y., Sept. 26, 2025 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”), announced that it has received all necessary regulatory approvals and has opened a full-service branch location at 232 Madison Avenue in Manhattan.

The branch will be staffed by Lisa Reardon, who was previously a branch manager with The First National Bank of Long Island.

Stuart H. Lubow, President and Chief Executive Officer of Dime, commented: “We are excited to open a new full-service banking location in Manhattan. Our new location, on the corner of Madison Avenue and 37th Street, aligns with our focus of selectively expanding our physical presence in a strategically important market. As we execute on our growth plan, we continue to capitalize on the disruption across our marketplace.”

Jim Manseau, Executive Vice President and Chief Banking Officer, commented: “For a number of years we have had our eye on expanding our branch presence in Manhattan. Finding the right corner location on Madison Avenue and recruiting an experienced and well-regarded branch manager in Lisa, will serve Dime well over time.”

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

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

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.

FAQ

Where is Dime Community Bank's (NASDAQ: DCOM) new Manhattan branch located?

Dime's new Manhattan branch is located at 232 Madison Avenue, on the corner of Madison Avenue and 37th Street.

Who will manage Dime Community Bank's new Madison Avenue branch?

Lisa Reardon, previously a branch manager with The First National Bank of Long Island, will manage the new Madison Avenue branch.

Why did Dime Community Bank (DCOM) expand to Manhattan?

Dime expanded to Manhattan as part of its strategic growth plan to capitalize on market disruption and selectively expand its physical presence in strategically important markets.

What approvals did Dime Community Bank need for the Manhattan branch?

Dime Community Bank received all necessary regulatory approvals before opening the full-service branch location in Manhattan.