Welcome to our dedicated page for Dime Community Bancshares news (Ticker: DCOM), a resource for investors and traders seeking the latest updates and insights on Dime Community Bancshares stock.
Dime Community Bancshares Inc (DCOM), a historic New York community bank founded in 1864, provides specialized financial services through its network of metropolitan branches. This page serves as the definitive source for all official company announcements and market-related developments.
Investors and stakeholders will find curated access to earnings reports, regulatory filings, and strategic initiative updates, alongside press releases detailing operational milestones. Content spans commercial mortgage finance developments, deposit service enhancements, and technology investments that shape regional banking in Brooklyn, Queens, and surrounding communities.
Bookmark this resource for streamlined tracking of DCOM's financial performance, leadership announcements, and compliance updates. All materials are sourced directly from company filings and vetted for regulatory accuracy, providing a trustworthy foundation for informed decision-making.
On June 1, 2023, Dime Community Bancshares (NASDAQ: DCOM), the parent company of Dime Community Bank, announced that Moody’s Investors Service affirmed all of its ratings. The Bank’s long-term deposit rating remains at A3, and the Company's long-term issuer rating is affirmed at Baa3. Moody’s report highlighted several positive factors: Dime’s efficient operating platform, a significant portion of noninterest-bearing deposits (30% of total), no large unrealized securities losses, increased cash balances (5% of total assets as of March 31, 2023), and strong liquidity. Additionally, Dime’s CRE loan underwriting is robust, with a favorable maturity profile, and its capital profile is stable with a TCE/risk-weighted asset ratio of 9.4% as of March 31, 2023, up from 9.2% at year-end 2022.
Dime Community Bancshares (NASDAQ: DCOM) announced significant upgrades to its technology platform, including a new escrow management platform and enhanced digital banking capabilities. The rollout is expected to begin in early June. The company has also added several deposit gathering Groups over the past month, capitalizing on recent market disruption.
CEO Kevin O'Connor stated that these upgrades will enhance their ability to attract new commercial customers and drive long-term deposit base growth. The improvements coincide with the buildout of their Private Banking Groups and are expected to accelerate their suite of offerings. Dime reported a low level of non-insured deposits at 28.6% as of April 30th, 2023, and anticipates onboarding more deposit-focused Groups in the coming months.
Dime Community Bancshares, Inc. (NASDAQ: DCOM) announced the appointment of Ravi Persaud as First Vice President, Associate Group Director. He will lead a team in Astoria, bringing expertise from his previous role at Signature Bank, where he worked since 2011. Dime Community Bancshares holds over $13.1 billion in assets and boasts the largest deposit market share among community banks in Greater Long Island.
FAQ
What is the current stock price of Dime Community Bancshares (DCOM)?
What is the market cap of Dime Community Bancshares (DCOM)?
