Welcome to our dedicated page for Dime Cmnty Bancshares news (Ticker: DCOMG), a resource for investors and traders seeking the latest updates and insights on Dime Cmnty Bancshares stock.
The news page for Dime Community Bancshares, Inc. 9.000% Fixed-to-Floating Rate Subordinated Notes due 2034 (DCOMG) aggregates coverage that relates to the issuer, Dime Community Bancshares, Inc., and its banking operations through Dime Community Bank. Because DCOMG is a subordinated debt security of this bank holding company, developments at the parent and its bank subsidiary are relevant for many investors following the notes.
Public announcements for Dime Community Bancshares, Inc. (Nasdaq: DCOM) highlight several recurring themes. The company issues earnings-related news, including notices about the timing of quarterly earnings releases and conference calls to discuss financial performance. These items help investors understand when the issuer will provide updates on its results, which can be important context for holders of subordinated notes.
Another category of news involves branch and market expansion. The company has announced plans to open a full-service branch location in Locust Valley and has reported approvals from the Federal Reserve Bank of New York and the New York State Department of Financial Services for that branch. It has also described efforts to expand middle market commercial banking across the state of New Jersey by hiring senior banking personnel.
News releases also emphasize community engagement by Dime Community Bank. The bank has announced grants to organizations such as Junior Achievement of Long Island, Accompany Capital, Transitional Services for Long Island, and Long Island Cares, as well as a continued partnership with Community Development of Long Island. These items illustrate how the issuer positions itself within Long Island, New York City, and the broader Metro New York community.
By reviewing the news associated with Dime Community Bancshares, Inc. and Dime Community Bank, users tracking DCOMG can see the types of operational, regulatory, and community developments that are publicly disclosed by the issuer. This page can be revisited to follow ongoing announcements that relate to the banking organization behind the subordinated notes.
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.
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.