Dime Announces Receipt of Federal Reserve and NYDFS Approvals for Locust Valley Branch Location
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.
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News Market Reaction – DCOM
In the Dec 10 session, DCOM gained 3.42%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Dec 02 | Community grant | Positive | +0.8% | Grant to Transitional Services for Long Island supporting housing services. |
| Nov 21 | Community grant | Positive | +4.5% | Grant to Long Island Cares for food insecurity programs. |
| Nov 21 | Growth hire | Positive | +4.5% | Hire to lead New Jersey middle-market expansion and new branch plans. |
| Nov 19 | Branch expansion | Positive | -0.1% | Announcement of planned Locust Valley branch, subject to approvals. |
| Nov 10 | Community partnership | Positive | -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.
Recent news has focused on community grants and expansion initiatives, with price reactions split between alignment and mild divergences on generally positive announcements.
This announcement follows a series of community- and growth-focused updates. In November 2025, Dime outlined plans for the Locust Valley branch at 85 Forest Avenue and hired a leader for New Jersey middle-market expansion, both tied to broader growth plans. Multiple grants to Long Island nonprofits and a continued partnership with CDLI underscored community engagement. Alongside stronger Q3 2025 results reported on November 3, 2025, today’s regulatory approvals mark a concrete step from prior Locust Valley planning to execution.
Key Terms
federal reserve bank of new york regulatory
new york state department of financial services regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
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
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
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.
