From GlobeNewswire: 2025-04-22 07:15:00

Dime Community Bancshares, Inc. reported a net income of $19.6 million for the first quarter of 2025, marking a significant improvement compared to the same period in 2024. The company saw an increase in core deposits and business loans, with a net interest margin expanding to 2.95% on a linked quarter basis.

Adjusted net income available to common stockholders totaled $24.7 million, showing a 42% increase compared to the prior quarter. The adjusted EPS was $0.57 per share, marking a 36% increase versus the prior quarter. The company’s president and CEO highlighted strong NIM expansion and progress in diversifying their balance sheet.

Dime Community Bancshares made strategic hires in the first quarter of 2025 to strengthen their leadership team. This included recruiting key executives with experience in growing profitable institutions and expanding market presence in key areas like Manhattan and Long Island.

Key highlights for the first quarter of 2025 included an increase in total deposits by $717.0 million year-over-year, with core deposits growing by $1.35 billion. The net interest margin expanded to 2.95%, and the company’s Common Equity Tier 1 Ratio increased to 11.12% at the end of the quarter.

The company’s net interest income for the first quarter of 2025 was $94.2 million, compared to $91.1 million in the previous quarter. The reconciliation of reported net interest margin and adjusted NIM showed an improvement, indicating growth opportunities in loan repricing and deposit costs.

Dime Community Bancshares reported a credit loss provision of $9.6 million during the first quarter of 2025, compared to $13.7 million in the previous quarter. Non-performing loans increased to $58.0 million, reflecting ongoing challenges in credit quality management.

Overall, the company’s capital management remained strong, with stockholders’ equity increasing to $1.41 billion at the end of the quarter. Regulatory capital ratios continued to exceed requirements, positioning the company well for future growth opportunities.

Dime Community Bancshares will conduct a conference call on April 22, 2025, to discuss their financial performance for the first quarter. Participants can access the call via webcast or telephone, with a replay available for on-demand listening for 12 months following the call.



Read more at GlobeNewswire:: Dime Community Bancshares, Inc. Reports First Quarter 2025