Company Profile
- Dime Community Bancshares, Inc. (NASDAQ: DCOM) (“Dime” or “the company”) is the holding company for subsidiary, Dime Community Bank, which is a product of a merger-of-equals (MOE) between legacy Dime and Bridge Bancorp, Inc. (“Bridge”) in 1Q21. The institution operates 60 branches in NYC and Long Island; the latter a footprint where DCOM reflects the leading deposit market share among local banks.
- Prior to the MOE, both legacy Dime and Bridge were largely focused on organic growth, including de novo expansion to capture market share from larger peers in Long Island/NYC. Given the dislocation from regional bank failures in footprint, Dime has added 14 deposit-focused groups over the past year, which managed several billion in deposits at former institutions (most have joined from legacy SBNY). Moreover, DCOM recently added a national deposit group in 1Q24. It is worth noting that the teams service a wide range of verticals with no specific industry…