Dime Announces Receipt of Federal Reserve and NYDFS Approvals for Locust Valley Branch Location

Dime Community Bancshares (NASDAQ: DCOM) announced it received approvals from the Federal Reserve Bank of New York and the New York State Department of Financial Services to open a new branch in Locust Valley.

Rhea-AI Summary

Dime Community Bancshares (NASDAQ: DCOM) announced it received approvals from the Federal Reserve Bank of New York and the New York State Department of Financial Services to open a new branch in Locust Valley.

The branch will be located at 85 Forest Avenue and will be staffed by Liz Materia, who was previously a branch manager at The First National Bank of Long Island, which was recently acquired.

Argus Dec 10 session

+3.42% close to close Open Argus

Details

News Market Reaction – DCOM

On Dec 10, the first trading day after this news, DCOM closed 3.42% above the previous close.

Data tracked by StockTitan Argus for the Dec 10 session.

Key Figures

Branch address: 85 Forest Avenue

Branch address

85 Forest Avenue

Location of new Locust Valley branch

Historical Context

5 past events · Latest: Dec 02

5 events

1. Dec 02

   Community grant

   24h Move

   +0.8%

   Grant to Transitional Services for Long Island supporting housing services.

2. Nov 21

   Community grant

   24h Move

   +4.5%

   Grant to Long Island Cares for food insecurity programs.

3. Nov 21

   Growth hire

   24h Move

   +4.5%

   Hire to lead New Jersey middle-market expansion and new branch plans.

4. Nov 19

   Branch expansion

   24h Move

   -0.1%

   Announcement of planned Locust Valley branch, subject to approvals.

5. Nov 10

   Community partnership

   24h Move

   -1.5%

   Continuation of partnership with CDLI for housing and financial health.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

federal reserve bank of new york, new york state department of financial services

2 terms

federal reserve bank of new york regulatory

"received approvals from the Federal Reserve Bank of New York and the New York"

A regional bank in the U.S. central banking system that carries out national monetary policy and runs the day-to-day financial operations that affect markets, such as buying and selling government bonds, providing short-term loans to banks, and overseeing big financial firms. Think of it as the Fed’s control room and trading desk: its actions on liquidity and interest rates directly influence borrowing costs, bank stability and asset prices, which matter to investors deciding where and when to put money.

new york state department of financial services regulatory

"and the New York State Department of Financial Services to open a branch location"

A state regulatory agency that oversees banks, insurance companies, crypto firms and other financial services operating in New York, issuing licenses, enforcing rules and conducting examinations to protect consumers and maintain market stability. Think of it as a referee and safety inspector for financial firms; its actions can affect a company’s ability to operate, regulatory costs, legal risk and investor confidence, so investors watch its decisions for signs of regulatory pressure or assurance.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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HAUPPAUGE, N.Y., Dec. 09, 2025 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”), announced it has received approvals from the Federal Reserve Bank of New York and the New York State Department of Financial Services to open a branch location in Locust Valley.

The new branch, which will be located at 85 Forest Avenue, will be staffed by Liz Materia. Ms. Materia was previously a branch manager with The First National Bank of Long Island, which was recently acquired.

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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What approvals did Dime (NASDAQ: DCOM) announce on December 9, 2025?

Dime announced approvals from the Federal Reserve Bank of New York and the New York State Department of Financial Services to open a Locust Valley branch.

Where will Dime's new Locust Valley branch (DCOM) be located?

The new branch will be located at 85 Forest Avenue, Locust Valley.

Who will staff the new Dime Locust Valley branch (DCOM)?

The branch will be staffed by Liz Materia, formerly a branch manager at The First National Bank of Long Island.

When did Dime announce the Locust Valley branch approvals (DCOM)?

Dime announced the approvals on December 9, 2025.

Does the Dime announcement (DCOM) mention regulatory approvals required to open the branch?

Yes. It specifies approvals from the Federal Reserve Bank of New York and the New York State Department of Financial Services.

Is the new Locust Valley hire at Dime (DCOM) coming from a bank that was acquired?

Yes. Liz Materia was previously a branch manager at The First National Bank of Long Island, which was recently acquired.