Welcome to our dedicated page for DIME COMMERCIAL BANCSHARES news (Ticker: DCOM), a resource for investors and traders seeking the latest updates and insights on DIME COMMERCIAL BANCSHARES stock.
Dime Community Bancshares, Inc. operates a community banking business that gathers deposits and deploys them into multifamily, commercial real estate, C&I, residential mortgage and securities portfolios.
Recurring news covers operating results, net interest income and margin trends, loan repricing, core deposit and business-loan growth, dividends on Series A preferred stock, and specialized commercial banking initiatives such as equipment and franchise finance. Company announcements also include market expansion, banker hiring, financial wellness partnerships and local community sponsorships in New York.
Dime Community Bancshares (NASDAQ: DCOM) reported a net income of $49.5 million for Q2 2021, up from a loss of $22.9 million in Q1 2021. The adjusted net income was $39.1 million, boosted by a $20.7 million gain from the sale of PPP loans. Non-interest-bearing deposits increased to 33.3% of total deposits, and the cost of deposits fell to 0.17%. Capital ratios improved, with the tangible equity ratio rising to 8.29%. Non-performing assets decreased by 20% to just 0.22% of total assets. The company continues to manage its expenses effectively, achieving a core efficiency ratio averaging 48%.
Dime Community Bancshares has declared a quarterly cash dividend of $0.34375 per share on its 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A. The dividend is payable on August 15, 2021, to shareholders of record as of August 6, 2021. With approximately $13 billion in assets, Dime Community Bancshares leads with the highest deposit market share among community banks in Greater Long Island.
Dime Community Bancshares, Inc. (NASDAQ: DCOM) announced its upcoming earnings release for Q2 2021, scheduled for July 30, 2021, before U.S. markets open. CEO Kevin O’Connor will discuss the financial performance in a conference call at 8:30 a.m. ET, followed by a Q&A session. The call will be webcast and available for a year. Dime Community Bancshares holds over $13 billion in assets and leads in deposit market share among community banks in Greater Long Island.
Dime Community Bank, a subsidiary of Dime Community Bancshares, Inc. (NASDAQ: DCOM), announced the consolidation of five branch locations into existing branches, effective October 2021. The closures include: 149 Kent Avenue with 281 Broadway, 1600 Avenue M with 1902 Kings Highway, 6324 Route 25A with 75 Route 25A, and 150 Hampton Road with 243 Windmill Lane. CEO Kevin O’Connor stated this initiative aims to enhance branch network efficiency while minimizing customer disruption.
Dime Community Bancshares, Inc. holds over $13 billion in assets, leading in deposit market share among community banks on Greater Long Island.
Dime Community Bank, a subsidiary of Dime Community Bancshares, Inc. (NASDAQ: DCOM), announced the sale of over $585 million in Paycheck Protection Program (PPP) loans it originated in 2021 to The Loan Source, Inc. This transaction is expected to yield a pre-tax gain of approximately $20.5 million in Q2 2021, increase the Tangible Common Equity ratio by 45 basis points, and raise Tangible Book Value per share by about $0.34. CEO Kevin O’Connor emphasized that this sale will allow the bank to focus on traditional lending while a specialized firm handles the PPP servicing process.
Dime Community Bancshares, Inc. (Nasdaq: DCOM) has declared a quarterly cash dividend of $0.24 per share, payable on July 26, 2021, to stockholders of record as of July 19, 2021. This consistent dividend payment highlights the Company’s commitment to returning value to its investors and marks another uninterrupted dividend payment period. With over $13 billion in assets, Dime Community Bancshares remains a leading community bank in Greater Long Island, boasting the highest deposit market share among local banks.
Dime Community Bank has partnered with the New York Islanders and UBS Arena, becoming the exclusive retail and commercial bank for the venue. This agreement enhances Dime's visibility and customer engagement in the New York area. UBS Arena, a $1.1 billion project, is set to host over 150 events annually, creating significant local economic activity. The partnership provides Dime customers with exclusive access and benefits, solidifying its community focus and service excellence.
Dime Community Bancshares (NASDAQ: DCOM) reported a net loss of $22.9 million or $0.66 per share for Q1 2021, a sharp decline from a profit of $3.3 million in Q4 2020. Adjusted net income was $32.4 million, reflecting significant merger-related costs of $37.9 million. Total deposits surged by over $800 million since the February merger, with $573.3 million in PPP loans originated. The Board has approved a resumption of the share repurchase program. Despite the net loss, management expressed confidence in future growth opportunities and strong capital levels, with a tangible equity ratio of 7.83% as of March 31, 2021.
Dime Community Bancshares, Inc. (Nasdaq: DCOM) announced on April 29, 2021, that it declared a quarterly cash dividend of $0.34375 per share of Series A Preferred Stock, payable on May 15, 2021. Additionally, a quarterly cash dividend of $0.24 per share of Common Stock will be paid on May 21, 2021. These dividends reflect the company's ongoing commitment to providing returns to shareholders. Dime Community Bancshares holds over $13 billion in assets and maintains the highest deposit market share among community banks in Greater Long Island.
Dime Community Bancshares, Inc. (Nasdaq: DCOM) will release its earnings for Q1 2021 on April 30, 2021, before U.S. markets open. CEO Kevin O’Connor will discuss the financial performance during a conference call at 8:30 a.m. ET on the same day. The call will be available via a live webcast and archived for one year. Dime Community Bancshares has over $13 billion in assets and holds the number one deposit market share among community banks on Greater Long Island, with significant market presence in Kings, Queens, Nassau, and Suffolk counties.