Dime Continues to Execute Growth Plan With Hire of Deposit-Focused Group

Rhea-AI Summary

Dime Community Bancshares (NASDAQ: DCOM) has announced the hiring of a new deposit-focused Group to cover the Queens market, continuing its strategic growth plan. The team will be led by George Taitt as Group Director and Amy Grandy as Associate Group Director, both formerly employed with Signature Bank and its successor, Flagstar Bank.

According to CEO Stuart H. Lubow, this hiring move capitalizes on market disruption while executing their growth strategy. The new team cited Dime's strong track record in team integration, collaborative culture, and robust treasury management and technology capabilities as key factors in their decision to join.

Positive

• Strategic expansion into Queens market with experienced deposit-focused team
• Successful recruitment of established bankers from competitor institutions
• Capitalization on market disruption for growth opportunities

Negative

• None.

News Market Reaction

-0.41%

1 alert

-0.41% News Effect

On the day this news was published, DCOM declined 0.41%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

George Taitt to join as Group Director, Amy Grandy to join as Associate Group Director

HAUPPAUGE, N.Y., April 10, 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 hired a deposit-focused Group that will cover the Queens market. The Group will be led by George Taitt and Amy Grandy. The Group was previously employed with the former Signature Bank and its successor, Flagstar Bank.

Stuart H. Lubow, President and Chief Executive Officer of Dime said, “We are excited to announce the addition of another talented deposit-focused Group. George and Amy are highly respected bankers with a long and successful track record. We continue to capitalize on the disruption in our marketplace and remain focused on executing our growth plan in a thoughtful and targeted manner.”

“We were attracted by Dime’s strong track record of bringing on new teams seamlessly, its bank-wide culture and belief in teamwork that leads to an exceptional client experience, and the Bank’s robust treasury management and technology capabilities. Both Amy and I are excited to be part of Dime’s growth plans,” said George Taitt.

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.

FAQ

What strategic expansion has DCOM announced for the Queens market in April 2025?

DCOM has hired a new deposit-focused banking team led by George Taitt and Amy Grandy to cover the Queens market, expanding their presence in the region.

Who are the key personnel joining DCOM's new Queens market team?

George Taitt is joining as Group Director and Amy Grandy as Associate Group Director, both previously from Signature Bank and Flagstar Bank.

What is DCOM's strategy behind the new Queens market team hire?

DCOM is capitalizing on market disruption and executing their growth plan by hiring experienced bankers to expand their deposit-focused operations.

What attracted the new banking team to join DCOM?

The team was attracted by DCOM's track record in team integration, collaborative culture, and strong treasury management and technology capabilities.