Company Profile
- Dime Community Bancshares, Inc. (NASDAQ: DCOM) (“Dime” or “the company”) is the BHC for main subsidiary, Dime Community Bank (“the bank”), which operates 62 branches primarily across the NYC MSA, notably Long Island (leading deposit market share among local banks).
- Following the MOE with Bridge Bancorp, Inc. in 2021, management has focused on organic growth, primarily diversifying the loan portfolio and deposit base. This was bolstered by the onboarding of 16 deposit-focused teams from the failed banks in footprint, adding ~$2 billion in low-cost core deposits over the past two years. These deposits are granular commercial accounts, broadly diversified across industries with no concentrated exposure. On the lending side, it has been supported by strategic talent additions, including not-for-profit, healthcare, fund finance, and generalist C&I teams – many sourced from larger banks. Looking ahead, loan growth should increase as business loans…