Dime Community Bancshares Inc Stock Price, News & Analysis

Dime Community Bancshares (NASDAQ: DCOM) has appointed Shawn Gines as Executive Vice President of Corporate and Specialty Finance, marking a significant step in the company's growth strategy. Gines, who will be based in Manhattan, joins from Webster Bank where he served as Regional President for NYC and New Jersey Metro Markets. In his new role, Gines will focus on expanding Dime's commercial lending operations, growing its corporate client base, overseeing the Fund Finance vertical, and developing new specialty verticals to diversify the bank's balance sheet. His extensive experience includes previous roles at Sterling National Bank, GE Capital, and Bank of America. CEO Stuart H. Lubow emphasized that Gines' appointment demonstrates Dime's ability to attract top banking talent.

Dime Community Bancshares (NASDAQ: DCOM) has secured key regulatory approvals from the Federal Reserve Bank of New York and the New York State Department of Financial Services to establish a new branch in Lakewood, New Jersey. The planned branch will be located at 500 Boulevard of the Americas, pending final approval from the New Jersey Department of Banking and Insurance. Construction is scheduled to commence in the second half of 2025, with the branch expected to open its doors in early 2026. This expansion marks Dime's strategic move into the New Jersey market.

Dime Community Bancshares (NASDAQ: DCOM) has announced the launch of a new fund finance vertical as part of its growth strategy. The company has appointed Michael Watts, former Senior Vice President at East West Bank, as Group Leader and Head of Fund Finance. Based in Manhattan, the new vertical will provide customized fund-level financing to the private equity industry.

This expansion follows Dime's successful establishment of Healthcare and Not-for-Profit verticals. The bank reported significant growth in Business loans, exceeding $450 million for the twelve-month period ended March 31, 2025. The Fund Finance vertical is expected to contribute to future growth once operational.

Dime Community Bancshares announced the hiring of Solomon Ponniah as Senior Vice President and Group Leader, strengthening its commercial lending division. Ponniah brings over 15 years of experience in Commercial Lending and joins from Popular Bank, where he served as Director of Business Banking.

The strategic hire aligns with Dime's expansion plans in the NYC metro area. CEO Stuart H. Lubow emphasized that bringing Ponniah on board supports their growth objectives. Ponniah expressed enthusiasm about joining Dime, citing the bank's quick customer response, flat organizational structure, and growth trajectory as key factors in his decision.

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.