Core Insights - Dime Community Bancshares, Inc. has appointed Antonia (Toni) Badolato as Senior Vice President and Group Leader, who previously held a similar position at M&T Bank [1][2] - Toni Badolato emphasized Dime's commitment to expanding its business lending presence and highlighted the company's quick response to customer needs and flat organizational structure as key differentiators for success [2] - Stuart H. Lubow, President and CEO of Dime, stated that hiring Toni is a strategic move to enhance growth in business lending and reflects the company's goal of diversifying its balance sheet and increasing market share [3] Company Overview - Dime Community Bancshares, Inc. is the parent company of Dime Community Bank, which is a New York State-chartered trust company with 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 for community banks with less than $20 billion in assets [3][4]

Core Insights - Dime Community Bancshares, Inc. has appointed Jim LoGatto as Executive Vice President to enhance its commercial banking operations in Manhattan [1][3] - LoGatto brings extensive experience from his previous roles at Israel Discount Bank of New York, Wells Fargo Bank, and Independence Community Bank [2] - The company aims to expand its deposit and lending presence in Manhattan, aligning with its strategic growth objectives [3] Company Overview - 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 [3][4]

Group 1 - Dime Community Bancshares, Inc. announced the appointment of Thomas X. Geisel as Senior Executive Vice President of Commercial Lending to enhance its commercial lending business [1][2] - The company has successfully grown core deposits and business loans over the past two years, leveraging market disruptions and talent acquisition [2] - Geisel has a strong background in financial services, having previously led the growth of Sterling National Bank into a $30 billion institution and held leadership roles at Webster Bank and Sun Bancorp [2] Group 2 - Dime Community Bancshares, Inc. operates Dime Community Bank, which has over $14 billion in assets and holds the number one deposit market share among community banks in Greater Long Island [3] - The bank's aggregate deposit market share includes Kings, Queens, Nassau, and Suffolk counties for community banks with less than $20 billion in assets [3]

Core Insights - Dime Community Bancshares, Inc. has appointed Thomas X. Geisel as Senior Executive Vice President of Commercial Lending to enhance its commercial lending business [1][2] - The company has experienced significant growth in core deposits and business loans over the past two years, leveraging market disruptions and talent acquisition [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 Strategy - The recruitment of Mr. Geisel is seen as a strategic move to execute the company's business plan and further its mission of becoming the best business bank in New York [2] - Mr. Geisel brings over twenty years of leadership experience in growing regional banks, including a successful tenure at Sterling National Bank, which grew into a $30 billion institution [2] Market Position - Dime Community Bank is recognized as a New York State-chartered trust company with a strong balance sheet and capital strength, providing a solid foundation for commercial banking [2][3] - The company has a significant presence in the New York Metropolitan market, which is expected to benefit from Mr. Geisel's expertise and reputation [2]

Financial Performance - Net income for 2024 was $29.1 million, a significant decrease from $96.1 million in 2023 and $152.6 million in 2022[160]. - Non-interest income decreased by $40.2 million in 2024, while provision for credit losses increased by $33.3 million and non-interest expense rose by $13.4 million[160]. - Net interest income increased by $1.5 million in 2024, contrasting with a decrease of $63.3 million in 2023[160]. - Non-interest income recorded a loss of $4.0 million in 2024, a decrease of $40.2 million from 2023, mainly due to a $41.4 million net loss on the sale of securities[172]. - Net income for 2023 was $96,094,000, a significant decrease of 37% compared to $152,556,000 in 2022[280]. - Total comprehensive income for 2023 was $75,645,000, compared to $98,894,000 in 2022, indicating a decrease of 24%[280]. - Net income for 2024 was $29,084 thousand, a decrease of 69.8% compared to $96,094 thousand in 2023 and a decrease of 81.0% from $152,556 thousand in 2022[286]. Credit Losses and Risk Management - The allowance for credit losses is established through a provision based on expected losses inherent in the loan portfolio, with management evaluating its adequacy quarterly[151]. - If the four-quarter national unemployment rate forecast had increased by 100 basis points, the quantitative allowance for credit losses (ACL) reserve would have increased by 11.8%[154]. - Management's estimates regarding credit losses are subject to significant judgment and may result in material changes to the allowance based on economic conditions[155]. - Regulatory agencies periodically review the allowance for credit losses and may require adjustments based on their assessments[159]. - Provision for credit losses was $36.1 million in 2024, significantly higher than $2.8 million in 2023, reflecting additional provisioning for multifamily, C&I, and criticized loan portfolios[171]. - The provision for credit losses increased to $36,113,000 in 2023 from $2,770,000 in 2022, marking a significant rise[278]. - The allowance for credit losses to total loans ratio rose to 0.82% at December 31, 2024, from 0.67% at December 31, 2023, indicating a more conservative approach to credit risk management[228]. - Non-accrual loans totaled $49.5 million at December 31, 2024, up from $29.1 million at December 31, 2023, indicating a significant increase in loan delinquencies[215]. - Loans delinquent between 60 to 89 days surged to $31.3 million at December 31, 2024, compared to only $1.3 million at December 31, 2023, reflecting a concerning trend in credit quality[222]. Interest Income and Expenses - Net interest income for 2024 was $318.1 million, slightly up from $316.6 million in 2023, but down from $379.9 million in 2022[167]. - Interest income increased to $650.1 million in 2024, up $40.7 million from 2023, driven by a $254.5 million increase in average business loan balances and a 45-basis point increase in yield[168]. - Interest expense rose to $332.1 million in 2024, an increase of $39.3 million from 2023, primarily due to a $767.4 million increase in average balances of money market accounts and a 77-basis point increase in rates[170]. - The weighted average yield of securities available-for-sale was 3.99% as of December 31, 2024, reflecting the company's investment strategy in a changing interest rate environment[230]. Assets and Liabilities - Total assets were $13.62 billion in 2024, slightly down from $13.63 billion in 2023[1]. - Total assets reached $14.35 billion at December 31, 2024, an increase of $717.3 million from the previous year, driven by a $826.0 million increase in cash and due from banks[177]. - Total liabilities increased to $12.96 billion at December 31, 2024, up $547.0 million, mainly due to a $1.16 billion increase in deposits[182]. - Total loans outstanding at the end of the period were $10.87 billion as of December 31, 2024, compared to $10.77 billion at December 31, 2023[228]. Deposits and Funding - Total deposits increased by $1.16 billion during the year ended December 31, 2024, compared to an increase of $276.2 million during the year ended December 31, 2023[245]. - Core deposits increased by $1.74 billion during the year ended December 31, 2024, while they decreased by $216.1 million during the year ended December 31, 2023[245]. - Brokered deposits decreased to $422.8 million at December 31, 2024, from $898.7 million at December 31, 2023[237]. - The weighted average interest rate on total deposits decreased to 2.09% at December 31, 2024, from 2.56% at December 31, 2023[234]. Equity and Stockholder Information - Stockholders' equity increased to $1.28 billion in 2024 from $1.22 billion in 2023[1]. - The ending balance of stockholders' equity as of December 31, 2024, was $1,396,517 thousand, an increase from $1,226,225 thousand in 2023[284]. - Cash dividends paid to common stockholders in 2024 totaled $38,036 thousand, compared to $37,302 thousand in 2023 and $36,791 thousand in 2022, reflecting a consistent dividend policy[286]. Loan Portfolio and Underwriting Standards - The loan portfolio composition showed business loans at $2.73 billion (25.1% of total loans) as of December 31, 2024, up from $2.31 billion (21.4%) in 2023[186]. - The Bank's underwriting standards for multifamily residential loans require a maximum loan-to-value ratio of 75% and a minimum debt service ratio of 1.20x[315]. - Non-owner-occupied commercial real estate loans also have a maximum loan-to-value ratio of 75% and require a minimum debt service ratio of 1.25x[316]. - The maximum loan-to-value ratio for land acquisition loans is set at 50% of the appraised value of the property[317]. Operational and Compliance Information - The company’s consolidated financial statements are prepared in accordance with U.S. GAAP, ensuring compliance and accuracy in financial reporting[293]. - The Company has established a Credit Risk Management Committee that meets quarterly to review lending exposures and emerging trends[196]. - The Company employs heightened risk management practices, including strategic planning and portfolio management, to address risks associated with its lending activities[194].

Dime Community (DCOM) closed the last trading session at $32.01, gaining 4.9% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $41 indicates a 28.1% upside potential.The average comprises five short-term price targets ranging from a low of $38 to a high of $44, with a standard deviation of $2.24. While the lowest estimate indicates an increase of 18.7% from the current price level, ...

Dime Community (DCOM) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individual investors often f ...

Dime Community Bancshares (NASDAQ: DCOM ), a regional bank headquartered in New York state, is one of the few banks in the stock market that offers both a preferred share (NASDAQ: DCOMP ) and baby bond (About My Writing: I am currently focused on income investing through either common shares, preferred shares, or bonds. I will occasionally break away and write about the economy at large or a special situation involving a company I've been researching in. I target two articles per week for publication on Mon ...

HAUPPAUGE, N.Y., Jan. 28, 2025 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (NASDAQ:DCOM) (the "Company" or "Dime"), the parent company of Dime Community Bank (the "Bank") today announced that it will continue its role as a partner with Island Harvest for the 4th consecutive year. Island Harvest is Long Island's leading hunger-relief organization. ABOUT DIME COMMUNITY BANCSHARES, INC. Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust comp ...

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Q4 2024 Earnings Conference Call January 23, 2025 8:30 AM ET Company Participants Stuart Lubow - President & Chief Executive Officer Avi Reddy - Chief Financial Officer Conference Call Participants Mark Fitzgibbon - Piper Sandler Steve Moss - Raymond James Chris O'Connell - KBW Manuel Navas - D.A. Davidson Matthew Breese - Stephens Inc. Operator Good day. Thank you for standing by. Welcome to Dime Community Bancshares Inc. Fourth Quarter Earnings Conference Call ...