Dime Community Bancshares Inc Stock Price, News & Analysis

Dime Community Bancshares (Nasdaq: DCOM) has announced its Board of Directors has declared a quarterly cash dividend for its Series A Preferred Stock. The dividend amount is set at $0.34375 per share on the company's 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A. The payment is scheduled for May 15, 2025, and shareholders must be on record by May 8, 2025 to receive the dividend.

Dime Community Bancshares (NASDAQ: DCOM) reported Q1 2025 net income of $19.6 million, or $0.45 per diluted share, compared to a net loss of $22.2 million in Q4 2024. Adjusted EPS reached $0.57, showing a 36% increase quarter-over-quarter and 50% year-over-year.

Key highlights include:

• Net interest margin expanded to 2.95%, up 16 basis points from previous quarter
• Total deposits increased by $717.0 million year-over-year
• Core deposits grew by $1.35 billion compared to previous year
• Common Equity Tier 1 Ratio improved to 11.12%

The quarter included $7.2 million in pre-tax expenses related to legacy pension plan termination. The company's loan portfolio maintained a weighted average rate of 5.25%, with total loans held for investment at $10.87 billion. Non-performing loans increased to $58.0 million, and the company recorded a credit loss provision of $9.6 million.

Dime Community Bancshares (NASDAQ: DCOM) has announced plans to expand its operations into Lakewood, New Jersey, with the Board of Directors approving the establishment of a new full-service, free-standing branch. Construction is scheduled for the second half of 2025, concurrent with the regulatory approval process, targeting an early 2026 opening.

The expansion strategy aims to strengthen Dime's presence in the Orthodox Jewish community and support the growth of their Private and Commercial Banking services. The move will enable the bank to better serve clients with operations in the Lakewood area.

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.

Dime Community Bancshares (NASDAQ: DCOM) has scheduled its Q1 2025 earnings release for Tuesday, April 22, 2025, before U.S. market opening. The company will host a conference call at 8:30 a.m. ET on the same day, featuring CEO Stuart Lubow discussing the company's first quarter financial performance.

The earnings call will include a Q&A session and can be accessed via webcast or telephone with pre-registration required. Participants are advised to dial in 10 minutes before the start time. A replay of the conference call and webcast will be available on-demand for 12 months.

Dime Community Bancshares (Nasdaq: DCOM) has announced its Board of Directors has declared a quarterly cash dividend of $0.25 per share of Common Stock. The dividend will be paid on April 24, 2025 to stockholders of record as of April 17, 2025. The announcement highlights the company's consistent track record of maintaining uninterrupted dividend payments to shareholders.

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.

Dime Community Bancshares (NASDAQ: DCOM) announced the appointment of Jim LoGatto as Executive Vice President, tasked with expanding the company's commercial banking operations in Manhattan. LoGatto brings extensive banking experience, having previously served as Executive Vice President and Director of US Private Banking at Israel Discount Bank of New York.

His career includes executive positions at Wells Fargo Bank and Independence Community Bank, with earlier roles at Irving Trust Company and Republic National Bank, where he reached the position of Managing Director. The strategic hire aligns with Dime's objective to strengthen its deposit and lending presence in the Manhattan market.

Dime Community Bancshares (NASDAQ: DCOM) announced the appointment of Thomas X. Geisel as Senior Executive Vice President of Commercial Lending. Geisel, who will oversee the expansion and diversification of Dime's commercial lending operations, brings over twenty years of regional banking leadership experience.

Previously, Geisel served as President of Corporate Banking at Webster Bank (formerly Sterling National Bank), where he contributed to transforming Sterling into a profitable $30 billion institution. His experience includes roles as President, CEO, and Director of Sun Bancorp, and President of KeyCorp's Northeast Region, managing $20 billion in assets across seven states.

President and CEO Stuart H. Lubow highlighted Dime's recent success in growing core deposits and business loans, citing market disruption opportunities and talent acquisition as key factors. The bank views Geisel's appointment as strategic in advancing its mission to become New York's premier business bank.