News about Dime Community Bancshares

Dime Community Bancshares (DCOM) reported record third-quarter revenue of $135 million and EPS up 53% year over year, as it expanded business lending, grew core deposits and improved its net interest margin (NIM). Business loans rose about $929 million (30%) from a year earlier, core deposits grew $1.1 billion, and roughly 70% to 75% of deposits now come from businesses. Reported NIM was 3.35%, and run-rate NIM excluding one-time items was 3.32%, up from 3.22% last quarter; management now expects NIM above 3.60% by the end of 2027. Dime also agreed to acquire Empire State Bank, a Staten Island lender with about $600 million in assets, using $30 million of cash and expecting pre-tax deal costs of $12 million to $13 million.