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 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.
Dime Community Bancshares (Nasdaq: DCOM) announced the continuation of its partnership with Island Harvest, Long Island's leading hunger-relief organization, marking their fourth consecutive year of collaboration. The announcement was made on January 28, 2025, by the parent company of Dime Community Bank.
Dime Community Bancshares (Nasdaq: DCOM) has announced a quarterly cash dividend declaration for its Series A Preferred Stock. The Board of Directors has approved a dividend of $0.34375 per share on the company's 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A. The dividend will be payable on February 13, 2025, to shareholders who are recorded as holders as of February 6, 2025.
Dime Community Bancshares (NASDAQ: DCOM) reported a net loss of $22.2 million ($0.54 per diluted share) for Q4 2024, compared to net income of $11.5 million in Q3 2024. The full year 2024 net income was $21.8 million ($0.55 per share), down from $88.8 million in 2023.
Q4 2024 results were impacted by a $42.8 million pre-tax loss on securities sales, $1.3 million in severance expenses, and $1.2 million related to pension plan termination. The quarter showed positive trends with total deposits increasing by $268.8 million and core deposits growing by $513.4 million compared to Q3 2024.
Key metrics improved with net interest margin expanding to 2.79% from 2.50% in Q3, and the Common Equity Tier 1 Ratio increasing to 11.07%. The bank successfully completed a common equity offering, raising $135.8 million in net proceeds to strengthen its capital base and reposition its securities portfolio.
Dime Community Bancshares (Nasdaq: DCOM) announced it will continue as the lead sponsor of the Dime McCarren 5K for the 6th consecutive year in 2025. The event supports St Nick's Alliance, an organization focused on affordable housing and educational programs for underprivileged youth in Brooklyn.
Dime Community Bancshares (NASDAQ: DCOM) has announced it will release its earnings report for Q4 2024 (quarter ended December 31, 2024) before U.S. markets open on Thursday, January 23, 2025. The company will host a conference call at 8:30 a.m. ET on the same day, featuring President and CEO Stuart Lubow discussing the company's fourth quarter financial performance.
The earnings call will include a Q&A session and can be accessed via webcast or telephone. Telephone participants must register in advance to receive dial-in details and a unique PIN. Participants are advised to dial in 10 minutes before the start time. A replay of both the conference call and webcast will be available on-demand for 12 months.
Dime Community Bancshares (NASDAQ: DCOM) has received an 'Outstanding' Community Reinvestment Act (CRA) rating from the Federal Reserve Bank of New York, achieving the highest possible score across all three evaluation components: Lending Test, Investment Test, and Service Test.
The bank demonstrated leadership in several areas, including: community development loans, innovative lending practices, qualified community development investments and grants, and community development services. The Federal Reserve highlighted Dime's excellent responsiveness to credit and community development needs within its assessment area, particularly in Low-to-Moderate Income neighborhoods.
This achievement validates Dime's 160-year commitment to supporting local community growth through lending, investing, and services.
Dime Community Bancshares (NASDAQ: DCOM) announced that Michael P. Devine will retire from the Board of Directors before the next annual shareholders meeting. Devine's career with Dime spans over 40 years, beginning in 1971 at The Dime Savings Bank of Williamsburgh. Throughout his tenure, he served as President, Chief Operating Officer, Director, and Vice Chairman.
Devine played a important role in the company's transition from a mutual to a stock-owned bank in 1996 and continued serving as director following the company's merger of equals transaction in 2021. Chairman Kenneth J. Mahon praised Devine's contributions, highlighting his progression from auditor to executive leadership and his valuable counsel to senior officers.