Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-34096 DIME COMMUNITY BANCSHARES, INC. (Exact name of registrant as specified in its charter) N/A (Former name or former a ...

Michael Watts Appointed Group Leader and Head of Fund FinanceHAUPPAUGE, N.Y., May 05, 2025 (GLOBE NEWSWIRE) -- As part of the continued execution of its growth plan, Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”), announced the launch of a new fund finance vertical. Led by Michael Watts, the Fund Finance vertical will provide customized fund-level financing to the private equity industry and expand Dime's coverage across this ...

Core Insights - Dime Community Bancshares, Inc. is focused on executing its growth plan and expanding its presence in the NYC metro area by hiring experienced professionals [1][2]. Group 1: Company Developments - Dime Community Bancshares has appointed Solomon Ponniah as Senior Vice President and Group Leader, who brings over 15 years of experience in Commercial Lending [1]. - Solomon Ponniah's previous role was Director of Business Banking at Popular Bank, indicating a strong background in the banking sector [1]. - The hiring aligns with Dime's goal of enhancing its commercial lending division and increasing its market presence in the NYC metro area [2]. Group 2: Company Profile - Dime Community Bancshares, Inc. is the parent company of Dime Community Bank, which has over $14 billion in assets [3]. - The bank holds the number one deposit market share among community banks in Greater Long Island, specifically in Kings, Queens, Nassau, and Suffolk counties [3].

Financial Data and Key Metrics Changes - Core deposits increased by $1.3 billion year-over-year, with deposit teams growing their portfolios to $1.9 billion [5][6] - Cost of deposits reduced to 2.09% in Q1 2025, while net interest margin (NIM) increased to approximately 2.9% for the fourth consecutive quarter [6][15] - Core pre-tax provision income rose to $46 million in Q1 2025 from $28 million a year ago, resulting in a core return on assets (ROA) of 77 basis points [10][14] - Adjusted EPS was $0.57 per share, reflecting a 36% linked-quarter increase and a 50% year-over-year increase [14] Business Line Data and Key Metrics Changes - Business loans grew by over $60 million in Q1 2025 and over $400 million year-over-year, with a loan pipeline currently at approximately $1.1 billion and an average yield of 7.22% [8][9] - Non-brokered deposits increased by approximately $65 million compared to year-end levels, with a core deposit growth of around $250 million when excluding title company-related deposits [16][36] Market Data and Key Metrics Changes - The company has a strong capital position, with a common equity Tier 1 ratio of 11.1% and a total capital ratio of 15.7% [18] - The company is managing expenses prudently, with core cash operating expenses for Q1 at $57.9 million, excluding non-core items [17] Company Strategy and Development Direction - The company plans to expand into the Lakewood, New Jersey market, indicating a strategic move to tap into new customer bases [12][85] - Hiring efforts are focused on both sides of the balance sheet, with a significant emphasis on growing business loans and core deposits [11][72] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about NIM improvement despite the uncertain rate environment, citing significant back book loan repricing opportunities [7][22] - The company expects net loans to remain relatively flat in Q2 2025, with growth anticipated in the latter half of the year [23][80] Other Important Information - The company has made several new hires to enhance its loan and deposit capabilities, with a focus on maintaining profitability and growth [11][72] - The company is cautious about the current economic environment, particularly regarding potential impacts from tariffs and competition [105][92] Q&A Session Summary Question: Inquiry about loan pipeline mix - The loan pipeline consists of approximately $350 million in commercial and industrial (C&I) loans, $185 million in owner-occupied commercial real estate (CRE), and $250 million in healthcare loans [31] Question: Update on deposit growth and costs - The cost of deposits is around 2.10%, with a healthy mix of demand deposits [34] Question: Credit front and reserve build guidance - The reserve build was less than expected, with a target provision of 90 basis points to 1% over time [40] Question: Cash balance and margin opportunities - The company is managing its cash balance strategically, aiming to maintain a balance between floating rate assets and cash [48] Question: Non-owner-occupied CRE uptick - The uptick was due to one specific credit exit, with no systemic issues identified [58] Question: Fee income guidance for the year - The fee income guidance remains at $40 million to $42 million for the full year [111]

Financial Performance - First quarter 2025 net income available to common stockholders was $19.6 million, or $0.45 per diluted common share, compared to a net loss of $22.2 million, or $(0.54) per diluted common share in the previous quarter[1]. - Adjusted net income available to common stockholders for Q1 2025 was $24.7 million, a 42% increase from the prior quarter and a 67% increase from Q1 2024[3]. - Non-interest income for Q1 2025 was $9.6 million, a significant recovery from a loss of $33.9 million in the previous quarter[20]. - Reported net income available to common stockholders for Q1 2025 was $19,636 thousand, a significant recovery from a loss of $22,234 thousand in Q4 2024[56]. - Adjusted net income available to common stockholders (non-GAAP) rose to $24,688 thousand for Q1 2025, up from $17,417 thousand in Q4 2024, representing a 42.0% increase[56]. Asset and Liability Management - Total assets as of March 31, 2025, were $14,097,682, a decrease of 1.77% from $14,353,258 on December 31, 2024[38]. - Total liabilities decreased to $12,685,669 as of March 31, 2025, down from $12,956,741 on December 31, 2024, a decline of 2.09%[38]. - Total stockholders' equity increased to $1,412,013 as of March 31, 2025, compared to $1,396,517 on December 31, 2024, reflecting a growth of 1.11%[38]. - The company reported a total asset value of $13,759,002[49]. Loan and Deposit Trends - Total deposits increased by $717.0 million year-over-year, with core deposits rising by $1.35 billion[7]. - Non-interest-bearing checking deposits decreased to $3,245,409 as of March 31, 2025, down from $3,355,829 on December 31, 2024, representing a decline of 3.27%[38]. - Business loans reached $2,788,848 as of March 31, 2025, up from $2,726,602 on December 31, 2024, marking a growth of 2.29%[38]. - The loan-to-deposit ratio at the end of Q1 2025 was 93.6%, up from 93.0% in Q4 2024[45]. Efficiency and Profitability Metrics - The efficiency ratio improved to 63.1% in Q1 2025, compared to 105.9% in the previous quarter[23]. - The adjusted return on average assets improved to 0.77% in Q1 2025, compared to 0.56% in Q4 2024[56]. - The efficiency ratio (non-GAAP) improved to 55.8% in Q1 2025 from 58.0% in Q4 2024, indicating enhanced operational efficiency[58]. - Cash dividends paid per common share remained stable at $0.25 for Q1 2025, consistent with Q4 2024[45]. Credit Quality and Risk Management - Non-performing loans increased to $58.0 million at March 31, 2025, compared to $49.5 million at December 31, 2024[25]. - The allowance for credit losses stood at $90,455 as of March 31, 2025, compared to $88,751 on December 31, 2024, indicating a slight increase in provisions[38]. - Net charge-offs (NCOs) for Q1 2025 were $7,058 thousand, down from $10,611 thousand in Q4 2024, reflecting a decrease of 33.5%[52]. - The company anticipates potential risks including changes in interest rates and competitive pressures that may affect future performance[36]. Market Position and Leadership - Dime Community Bancshares, Inc. has over $14 billion in assets and holds the number one deposit market share among community banks on Greater Long Island[34]. - The company hired several key executives to strengthen its leadership team and market presence, including Tom Geisel and Robert Rowe[7].

Core Financial Performance - The company reported net income available to common stockholders of $19.6 million for Q1 2025, a significant recovery from a net loss of $22.2 million in Q4 2024 and an increase from $15.9 million in Q1 2024 [1][3] - Adjusted net income available to common stockholders (non-GAAP) was $24.7 million for Q1 2025, reflecting a 42% increase from the previous quarter and a 67% increase year-over-year [3] - The net interest margin (NIM) expanded by 16 basis points to 2.95% in Q1 2025 compared to 2.79% in Q4 2024 [1][9] Revenue and Expenses - Net interest income for Q1 2025 was $94.2 million, up from $91.1 million in Q4 2024 and $71.5 million in Q1 2024 [6] - Non-interest income was $9.6 million in Q1 2025, a recovery from a loss of $33.9 million in Q4 2024 [20] - Total non-interest expense increased to $65.5 million in Q1 2025 from $60.6 million in Q4 2024, with adjusted non-interest expense at $58.0 million [21][22] Loan and Deposit Growth - Total deposits increased by $717.0 million year-over-year, with core deposits rising by $1.35 billion [8] - The company’s loan portfolio stood at $10.87 billion, with business loans at $2.79 billion and a weighted average rate of 6.55% [11][12] - Loan originations for Q1 2025 were $71.5 million, a decrease from $187.5 million in Q4 2024 [15] Capital and Credit Quality - Stockholders' equity increased to $1.41 billion at the end of Q1 2025, with a Common Equity Tier 1 Ratio of 11.12% [26][44] - Non-performing loans rose to $58.0 million, up from $49.5 million in Q4 2024, with a credit loss provision of $9.6 million recorded in Q1 2025 [25] Management and Strategic Initiatives - The company has made significant hires to strengthen its executive leadership team, including Tom Geisel and Robert Rowe [8] - The CEO highlighted the company's strong start to the year in recruiting and plans to continue adding talent to gain market share [4][8]

Core Points - Dime Community Bancshares, Inc. has announced plans to expand into Lakewood, New Jersey, with the Board of Directors approving this initiative [1] - A full-service, free-standing branch location has been identified, with construction expected in the second half of 2025 and a planned opening in early 2026 [2] - The expansion aims to strengthen Dime's commitment to the Orthodox Jewish community and support the growth of its Private and Commercial Bank services [3] - Dime Community Bancshares, Inc. holds over $14 billion in assets and has the highest deposit market share among community banks in Greater Long Island [3][4]

Core Viewpoint - The market anticipates Dime Community (DCOM) will report a year-over-year increase in earnings driven by higher revenues for the quarter ending March 2025, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - Dime Community is expected to report quarterly earnings of $0.55 per share, reflecting a year-over-year increase of +44.7% [3]. - Revenues are projected to reach $99.99 million, which is a 21.9% increase from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analyst expectations [4]. - A positive Earnings ESP of +10.24% suggests analysts have recently become more optimistic about the company's earnings prospects [10]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that a positive reading is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [8]. - Dime Community currently holds a Zacks Rank of 4, which complicates the prediction of an earnings beat despite the positive Earnings ESP [11]. Historical Performance - In the last reported quarter, Dime Community was expected to post earnings of $0.43 per share but delivered $0.42, resulting in a surprise of -2.33% [12]. - Over the past four quarters, the company has beaten consensus EPS estimates two times [13]. Conclusion - While Dime Community does not appear to be a strong candidate for an earnings beat, investors should consider other factors influencing stock performance ahead of the earnings release [16].

Core Points - Dime Community Bancshares, Inc. has hired a deposit-focused group to cover the Queens market, led by George Taitt and Amy Grandy, both previously from Signature Bank and Flagstar Bank [1][2] - The company aims to capitalize on market disruptions and execute its growth plan in a targeted manner, emphasizing teamwork and client experience [2] - Dime Community Bancshares, Inc. holds over $14 billion in assets and has the highest deposit market share among community banks in Greater Long Island [3] Company Overview - Dime Community Bancshares, Inc. is the parent company of Dime Community Bank, a New York State-chartered trust company [3] - The bank has a strong track record of integrating new teams and maintaining a robust culture focused on teamwork and client satisfaction [2][3] - The aggregate deposit market share for community banks with less than $20 billion in assets in Kings, Queens, Nassau, and Suffolk counties is highlighted [4]

Core Viewpoint - Dime Community Bancshares, Inc. is set to release its earnings for the first quarter of 2025 on April 22, 2025, before the U.S. equity markets open, with a conference call scheduled for the same day to discuss financial performance [1]. Group 1: Earnings Release - The earnings announcement will occur before the market opens on April 22, 2025 [1]. - A conference call will be held at 8:30 a.m. (ET) on the same day, featuring remarks from the President and CEO, Stuart Lubow [1]. - There will be a question-and-answer session following the CEO's remarks [1]. Group 2: Conference Call Access - Participants can access the conference call via a provided webcast link or by registering in advance for telephone participation [2]. - Registered telephone participants will receive a confirmation email with dial-in details and a unique PIN [2]. - It is recommended that participants dial in 10 minutes prior to the start time [2]. Group 3: Replay Availability - A replay of the conference call and webcast will be available on-demand for 12 months [3]. Group 4: Company Overview - Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, which has over $14 billion in assets [4]. - The bank holds the number one deposit market share among community banks in Greater Long Island [4][5].