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.
On February 9, 2021, Dime Community Bancshares, Inc. (NASDAQ: DCOM) announced that Fitch Ratings affirmed its investment grade ratings for the Company and Dime Community Bank. The Fitch report highlighted the Company’s stable performance amid COVID-19 and its merger of equals. Fitch noted that benefits from the merger, including diversification and scale, outweigh integration risks, and observed a significant decline in loan payment deferrals from Q2 2020.
Dime Community Bancshares, Inc. (DCOM) has declared a quarterly cash dividend of $0.34375 per share on its 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A. This dividend will be payable on February 15, 2021 to shareholders on record as of February 4, 2021. The Company boasts over $12 billion in assets and $9 billion in total deposits, with more than 60 branches across New York.
Bridge Bancorp and Dime Community Bancshares have successfully completed their merger, converting Legacy Dime shares into Bridge shares at a ratio of 0.648. The merged company now operates under the ticker symbol DCOM and boasts over $12 billion in assets and 60 branches.
Customers will see no immediate changes to their banking relationships. Experts emphasize that the merger aims to enhance customer service and increase capital in the New York area.
Dime Community Bancshares, Inc. (NASDAQ: DCOM) reported a positive trend in its loan portfolio as of December 31, 2020. Principal and Interest (P&I) deferrals decreased to $37.1 million, representing just 0.7% of the total loan portfolio. Additionally, 3.4% of the portfolio is now on a full interest payment plan, deferring only principal payments. CEO Kenneth J. Mahon expressed optimism regarding the ability to work with borrowers to facilitate reasonable resolutions.
Dime Community Bancshares reported a 29% increase in revenues and a 223% rise in earnings per share for Q3 2020, achieving net income of $14.0 million, or $0.42 per diluted share. Excluding merger expenses, EPS would be $0.44, a record for the company. The bank experienced non-performing assets decline by 19.2% and strong growth in checking account balances, up 61.1% year-over-year. The net interest margin expanded by 6 basis points, driven by reduced deposit costs. Management highlighted positive trends in loans exiting deferment, indicating robust recovery prospects.
Dime Community Bancshares, Inc. (Nasdaq: DCOM) has declared a quarterly cash dividend of $0.34375 per share for Series A Preferred Stock, payable on November 15, 2020, and $0.14 per share for Common Stock, payable on November 13, 2020. The record date for both dividends is November 6, 2020. This marks the third quarterly dividend for Series A Preferred Stock and the 94th consecutive dividend for Common Stock. As of June 30, 2020, the Company reported consolidated assets of $6.47 billion.
Dime Community Bancshares, Inc. (Nasdaq: DCOM) will release its earnings for Q3 2020 on October 27, 2020, after U.S. market close. CEO Kenneth J. Mahon will discuss the financial performance in a conference call on October 28, 2020, at 8:00 a.m. ET. The call will include a Q&A session and will be available via webcast. As of June 30, 2020, the Company's consolidated assets totaled $6.47 billion. Dime Community Bank operates 28 branches across New York City.
Dime Community Bancshares reported a net income of $11.8 million, or $0.35 per diluted share, for Q2 2020, up from $8.4 million in Q1 2020. Adjusted EPS excluding restructuring and merger expenses would be $0.39. The company benefitted from a 14 basis point increase in net interest margin (NIM) and 83% year-over-year growth in non-interest income, excluding securities gains. Capital ratios improved with a tangible equity to tangible assets ratio of 9.76%. Total loans under the Paycheck Protection Program reached $310.5 million. The firm announced a merger with Bridge Bancorp, aiming for over $11 billion in assets.
Dime Community Bancshares, Inc. (DCOM) declared its quarterly cash dividend of $0.34375 per share for Series A Preferred Stock, set for payment on August 15, 2020. Additionally, a dividend of $0.14 per share for Common Stock will be paid on August 13, 2020, to stockholders of record as of August 6, 2020. This marks the 93rd consecutive dividend for Common Stock holders and the second for the Series A Preferred Stock. As of March 31, 2020, the company reported $6.35 billion in consolidated assets.
Dime Community Bancshares (Nasdaq: DCOM) will release its earnings for the quarter ending June 30, 2020, after U.S. markets close on July 28, 2020. A conference call featuring CEO Kenneth J. Mahon is scheduled for July 29, 2020, at 8:00 a.m. ET to discuss the financial performance. Investors can access the conference call using the domestic number 1-888-348-2672 or international number 1-412-902-4232. The company reported $6.35 billion in consolidated assets as of March 31, 2020, and has 28 retail branches across New York.