Dime Expands Lending Presence on Long Island

Rhea-AI Summary

Dime Community Bancshares (NASDAQ: DCOM) has strengthened its lending operations by appointing Antonia (Toni) Badolato as Senior Vice President and Group Leader. Badolato joins from M&T Bank, where she served as Senior Vice President, Group Manager.

The strategic hire aligns with Dime's commitment to expanding its business lending presence. Badolato cited Dime's quick customer response capabilities and flat organizational structure as key factors in her decision to join, viewing these as important differentiators for business growth.

According to President and CEO Stuart H. Lubow, this appointment supports Dime's strategic objectives of diversifying its balance sheet and increasing market share in the business lending sector.

Positive

• Strategic hire of experienced senior executive from competitor M&T Bank
• Expansion of business lending operations
• Implementation of organizational efficiency through flat structure

Negative

• None.

News Market Reaction

+2.61%

1 alert

+2.61% News Effect

On the day this news was published, DCOM gained 2.61%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

HAUPPAUGE, N.Y., March 21, 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 Antonia (Toni) Badolato as Senior Vice President and Group Leader. Toni comes to Dime from M&T Bank where she held the position of Senior Vice President, Group Manager.

“I joined Dime given the organization’s commitment to growing their business lending presence. Dime’s ability to respond to customers quickly, combined with a flat organizational structure is a proven strategy for success. These qualities are key differentiators to win business and grow,” said Toni.

Stuart H. Lubow, President and Chief Executive Officer of Dime said “Hiring Toni to help drive our growth in business lending is a win for Dime. Toni’s addition is another example of our commitment to our stated goal of diversifying our balance sheet and growing our market share.”

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 hire did Dime Community Bank (DCOM) make to expand its lending presence?

Dime hired Antonia (Toni) Badolato as Senior Vice President and Group Leader from M&T Bank to strengthen its business lending operations.

How does DCOM's new hire align with their business strategy?

The hire supports Dime's goals of diversifying their balance sheet and growing market share in business lending.

What competitive advantages did Badolato highlight about DCOM's lending operations?

Badolato emphasized Dime's quick customer response capabilities and flat organizational structure as key differentiators for business growth.

What is Dime Community Bank's (DCOM) expansion strategy for Long Island?

Dime is expanding its lending presence on Long Island through strategic hiring and focusing on growing their business lending operations.