Dime Community Bancshares | research notes

Dime Community Bancshares: A Leading Financial Institution Serving the Greater New York City Area

Dime Community Bancshares, Inc. (NYSE: DCOM) is a publicly traded bank holding company with headquarters in Garden City, New York. It operates through its wholly-owned subsidiary, Dime Community Bank, which provides a comprehensive range of banking and financial services to individuals, businesses, and municipalities in the greater New York City area.

History and Background

Dime Community Bancshares traces its roots back to 1864 with the establishment of Dime Savings Bank of Williamsburgh. Over the years, the bank grew through mergers and acquisitions, expanding its reach across the New York metropolitan area. In 1996, it converted to a stock-owned institution and became publicly traded in 1998.

Core Business Lines

Dime Community Bank offers a broad array of financial products and services, including:

• Consumer Banking: Personal checking and savings accounts, loans, mortgages, and credit cards
• Business Banking: Commercial loans, lines of credit, and treasury management services
• Municipal Banking: Financing for municipalities and government entities
• Wealth Management: Investment advisory, trust, and estate planning services

Geographic Focus

Dime Community Bank has a strong presence in the following areas:

• Nassau County, New York: Garden City, Hempstead, Hicksville
• Suffolk County, New York: Smithtown, Patchogue, Riverhead
• Brooklyn, New York: Downtown Brooklyn, Williamsburg, Park Slope
• Queens, New York: Long Island City, Astoria, Flushing

Financial Performance

Dime Community Bancshares has consistently delivered strong financial performance. As of March 31, 2023, it reported:

• Total assets: $7.0 billion
• Net income: $51.0 million
• Return on average assets (ROAA): 1.25%
• Return on average equity (ROAE): 12.87%

Community Involvement

Dime Community Bancshares is committed to supporting the communities it serves. The bank provides financial support to local organizations and sponsors educational and community events. It also actively participates in programs that promote economic development and financial literacy.

Key Differentiators

Dime Community Bank differentiates itself in several ways:

• Local decision-making: Lending and banking decisions are made at the local level, giving customers direct access to decision-makers.
• Commitment to customer service: The bank prioritizes providing excellent customer service through personalized attention and tailored solutions.
• Strong balance sheet: Dime Community Bancshares maintains a sound financial position, providing stability and security for its customers.

Conclusion

Dime Community Bancshares is a well-established and respected financial institution that serves the greater New York City area. With a focus on community banking, strong financial performance, and commitment to customer service, the bank is well-positioned to continue delivering value to its customers and shareholders for years to come.

Dime Community Bancshares Company Business Model

Dime Community Bancshares Company is a regional bank holding company that primarily operates in the New York metropolitan area. Its business model revolves around:

• Community Banking: Providing a wide range of banking services to individuals, small businesses, and non-profit organizations within its target markets.
• Commercial Lending: Offering loans and credit facilities to businesses of various sizes, industries, and credit profiles.
• Personal Banking: Providing checking accounts, savings accounts, mortgages, and other financial products to retail customers.
• Wealth Management: Offering investment and financial planning services to high-net-worth individuals and families.
• Treasury Management: Providing cash management, electronic payment, and other financial solutions to businesses and governments.

Advantages over Competitors

Dime Community Bancshares Company has several advantages over its competitors:

• Local Presence: As a community bank, Dime has a strong presence in its target markets, enabling it to establish close relationships with customers and understand their local banking needs.
• Personalized Service: Dime emphasizes personalized customer service and tailored solutions to meet the unique requirements of each client.
• Wide Product Offering: The company offers a comprehensive range of banking and financial products, allowing customers to fulfill all their financial needs under one roof.
• Strong Liquidity and Capitalization: Dime maintains a strong liquidity position and has a history of prudent financial management, which provides stability and confidence to customers.
• Technology Investments: Dime continually invests in technology to enhance its customer experience, streamline operations, and improve its cybersecurity posture.
• Community Involvement: The company actively supports local communities through charitable giving, volunteering, and sponsorships, which fosters goodwill and builds trust with customers.

Additional Advantages

• Focus on Business Lending: Dime has a particular strength in commercial lending, providing customized financing solutions to businesses of all sizes.
• Target Market Niche: Dime focuses on the New York metropolitan area, a large and affluent market with high banking demand.
• Acquisition Strategy: Dime has pursued acquisitions to expand its market presence and enhance its product offerings.

Company Overview

Dime Community Bancshares, Inc. (NASDAQ: DCOM) is a bank holding company headquartered in Garden City, New York. It operates through its wholly-owned subsidiary, Dime Community Bank, which provides a range of financial services to individuals, businesses, and municipalities in the New York metropolitan area.

Outlook

Positive Factors:

• Strong financial performance: Dime has consistently reported solid financial results, with increasing net income and assets over the past few years.
• Expansion plans: The company is actively pursuing expansion opportunities, including opening new branches and acquiring other financial institutions.
• Technology investments: Dime is investing heavily in technology to enhance its digital banking capabilities and improve customer experience.
• Stable deposit base: The company has a strong deposit base and customer loyalty, which provides a solid foundation for growth.
• Experienced management team: Dime has a seasoned management team with a deep understanding of the industry and the local market.

Challenges:

• Competition: The New York metropolitan area is highly competitive for financial services, with several large banks and credit unions vying for market share.
• Rising interest rates: Increasing interest rates could impact the company's net interest margin and reduce lending profitability.
• Economic downturn: An economic downturn could lead to decreased loan demand and increased credit risk.
• Cybersecurity risks: The financial industry is a prime target for cyberattacks, and Dime must invest heavily in cybersecurity measures to protect its systems and data.
• Regulatory constraints: As a bank holding company, Dime is subject to strict regulatory requirements, which could limit its flexibility and increase its compliance costs.

Analysts' Views:

Analysts generally have a positive outlook on Dime Community Bancshares. They cite the company's strong financial performance, expansion plans, and experienced management team as factors supporting their optimism. However, they also acknowledge the challenges posed by competition, rising interest rates, and regulatory constraints.

Key Metrics:

• Total Assets: $10.2 billion (as of June 30, 2023)
• Net Income: $84.3 million for the first half of 2023
• Return on Assets: 1.29% (as of June 30, 2023)
• Return on Equity: 10.39% (as of June 30, 2023)
• Price-to-Book Ratio: 1.55 (as of August 18, 2023)

Conclusion:

Dime Community Bancshares is a well-positioned bank holding company with a strong financial performance and expansion plans. While it faces challenges from competition and regulatory constraints, analysts generally have a positive outlook on the company due to its strong fundamentals and experienced management team.

Companies Similar to Dime Community Bancshares

1. Suffolk Bancorp (NASDAQ: SUBK)

• Website: https://www.suffolkbancorp.com/
• Why Customers May Also Like: Suffolk Bancorp is another community bank with a focus on the Greater Boston area, similar to Dime Community Bancshares. It offers a wide range of banking services, including personal and business accounts, loans, and wealth management. Customers appreciate its local expertise and personalized service.

2. Rockland Trust Company (NASDAQ: RTK)

• Website: https://www.rocklandtrust.com/
• Why Customers May Also Like: Rockland Trust is a Massachusetts-based community bank with a strong presence in Greater Boston and the South Shore. It is known for its convenient locations, responsive customer service, and innovative banking products. Customers value its commitment to the local community.

3. Eastern Bank (NASDAQ: EBC)

• Website: https://www.easternbank.com/
• Why Customers May Also Like: Eastern Bank is a New England-based mutual bank with a network of branches throughout the region. It offers a full range of banking services, including personal and business accounts, loans, and wealth management. Customers appreciate its competitive rates, financial education programs, and involvement in community initiatives.

4. Hampden Bank (OTCMKTS: HDPB)

• Website: https://www.hampdenbank.com/
• Why Customers May Also Like: Hampden Bank is a community bank serving the Western Massachusetts area. It offers a variety of banking products and services, including personal and commercial loans, deposit accounts, and online banking. Customers value its personal approach, local decision-making, and support of local businesses.

5. BankESB (NASDAQ: ESBK)

• Website: https://www.bankesb.com/
• Why Customers May Also Like: BankESB is a community bank operating in Essex County, Massachusetts. It offers a wide range of banking services, including personal and business accounts, loans, and investment services. Customers appreciate its commitment to personalized service, community involvement, and financial literacy programs.

History of Dime Community Bancshares

Early Years (1887-1960)

• 1887: Founded as Dime Savings Bank of Brooklyn, New York.
• Focus on providing savings and loan services to local residents.
• Grew rapidly through acquisitions and branch expansions.

Expansion and Diversification (1960-1990)

• 1960s: Expanded into commercial banking and trust services.
• 1970s: Acquired several community banks, expanding its footprint in Brooklyn and Queens.
• 1980s: Entered the mortgage lending market and established a commercial lending division.

Merger and Acquisitions (1990-2010)

• 1991: Merged with Dime Savings Bank of Williamsburgh to form Dime Savings Bank of New York, FSB.
• 2003: Acquired Queens County Savings Bank, significantly increasing its presence in Queens.
• 2006: Converted to a stock-owned savings bank.
• 2008: Acquired Metropolitan Money Store and 12 branches from HSBC Bank USA.

Financial Crisis and Recovery (2010-2015)

• 2010: Reorganized under the Treasury Department's Troubled Asset Relief Program (TARP).
• 2013: Repaid TARP funds and exited government conservatorship.
• 2015: Returned to profitability and resumed its growth strategy.

Recent Years (2015-Present)

• 2016: Changed its name to Dime Community Bancshares, Inc.
• 2017: Acquired Bank of America's commercial banking operations in New York City.
• 2018: Acquired the assets and liabilities of OneWest Bank, N.A., expanding its presence in California.
• 2021: Completed the acquisition of Sterling Bancorp and its subsidiary, Sterling National Bank, significantly expanding Dime's operations in the New York metropolitan area.

Today, Dime Community Bancshares is one of the largest community banks in the Northeast, with over $17 billion in assets and over 230 branches across New York, New Jersey, Pennsylvania, and California.

2020

• Q1 2020: Reported earnings per share of $0.23, beating analyst estimates.
• Q2 2020: Announced plans to acquire First National Bank of Tennessee for $126 million.
• Q3 2020: Completed the acquisition of First National Bank of Tennessee.
• Q4 2020: Announced plans to acquire Capital Bank & Trust Company for $175 million.

2021

• Q1 2021: Completed the acquisition of Capital Bank & Trust Company.
• Q2 2021: Reported earnings per share of $0.42, beating analyst estimates.
• Q3 2021: Announced plans to acquire FirstBank for $530 million.
• Q4 2021: Completed the acquisition of FirstBank.

2022

• Q1 2022: Reported earnings per share of $0.51, beating analyst estimates.
• Q2 2022: Raised its dividend by 10%.
• Q3 2022: Announced plans to acquire United Community Bank for $1.7 billion.

Recent Timelines

• October 2022: Announced the closing of the United Community Bank acquisition.
• November 2022: Reported earnings per share of $0.65 for Q3, meeting analyst estimates.
• December 2022: Increased its quarterly dividend to $0.20 per share.
• January 2023: Announced plans to expand into the Louisville, Kentucky market.
• February 2023: Raised its guidance for 2023 earnings per share.

Delightful Banking Experience with Dime Community Bancshares

As a satisfied customer of Dime Community Bancshares, I am thrilled to share my highly positive experience. From the exceptional customer service to the innovative banking solutions, Dime has consistently exceeded my expectations.

Exceptional Customer Care

The team at Dime is always friendly, knowledgeable, and eager to assist with any inquiries or requests. Whether I need help with online banking, opening a new account, or discussing loan options, I'm met with professionalism and a genuine desire to provide the best possible experience. They go above and beyond to ensure my banking needs are met swiftly and efficiently.

Convenient and Innovative Banking

Dime offers a wide range of banking services that are both convenient and technologically advanced. Their online and mobile banking platforms are user-friendly and allow me to manage my finances from anywhere, at any time. I also appreciate the innovative features such as mobile check deposits and instant account alerts, which save me time and provide peace of mind.

Local Involvement and Community Support

As a community bank, Dime takes pride in its local involvement. They actively support local businesses, charities, and organizations, demonstrating their commitment to the communities they serve. This shows me that Dime is not only a financial institution but also a valuable community partner.

Competitive Rates and Low Fees

Dime offers competitive rates on savings and loans. I'm impressed with their low fees, which helps me save money while still receiving exceptional banking services. They provide clear and transparent fee schedules, ensuring that I'm always aware of any costs associated with my accounts.

Overall Impression

In conclusion, I highly recommend Dime Community Bancshares to anyone seeking a reliable, convenient, and customer-focused banking experience. Their exceptional service, innovative banking solutions, local involvement, and competitive rates make them an outstanding choice for both individuals and businesses. I'm confident that Dime will continue to exceed my expectations for years to come.

Unlock Financial Empowerment with Dime Community Bancshares

Are you seeking a trusted and innovative financial partner to support your personal and business goals? Look no further than Dime Community Bancshares, a leading financial institution offering a comprehensive suite of banking and investment solutions.

Experience the Dime Difference

At Dime Community Bancshares, we believe in building lasting relationships founded on exceptional service and tailored financial guidance. Our team of experienced bankers and financial advisors is dedicated to understanding your unique needs and providing personalized solutions to help you succeed.

Our Services

• Personal Banking: From checking and savings accounts to mortgages and personal loans, we offer a wide range of financial products designed to meet your everyday banking needs.
• Business Banking: We provide comprehensive business banking services, including commercial lending, cash management, and merchant services, to help your business thrive.
• Wealth Management: Our experienced wealth advisors offer investment planning, asset management, and retirement planning services to help you achieve your financial goals.
• Insurance: We offer a variety of insurance products, including homeowners, auto, and business insurance, to protect your assets and provide peace of mind.

Why Choose Dime Community Bancshares?

• Local Expertise: As a community bank, we understand the unique financial needs of the communities we serve.
• Competitive Rates: We offer competitive rates on loans and deposits to help you save money and maximize your returns.
• Customer-Focused Approach: We prioritize building strong relationships with our customers and providing exceptional support every step of the way.
• Digital Convenience: Our user-friendly website and mobile banking app provide you with 24/7 access to your accounts and financial information.

Visit Our Website

For more information about our products and services, visit our website at: https://www.dime.com/. You can also schedule an appointment with a banker or financial advisor to discuss your specific financial needs.

At Dime Community Bancshares, we are committed to providing you with the financial solutions you need to reach your goals. Join us today and experience the Dime difference!

Main Supplier (or Upstream Service Provider) of Dime Community Bancshares

Name: Fiserv, Inc. Website: https://www.fiserv.com/

Services Provided:

Fiserv provides a comprehensive suite of financial technology solutions to Dime Community Bancshares, including:

• Core Banking: Fiserv provides the core banking platform that Dime Community Bancshares uses to manage its customer accounts, process transactions, and generate financial reports.
• Digital Banking: Fiserv provides the digital banking platform that Dime Community Bancshares uses to offer online and mobile banking services to its customers.
• Payment Processing: Fiserv provides the payment processing services that Dime Community Bancshares uses to process debit card and credit card transactions.
• Merchant Services: Fiserv provides the merchant services that Dime Community Bancshares uses to process payments for businesses.
• Card Issuing and Management: Fiserv provides the card issuing and management services that Dime Community Bancshares uses to issue and manage debit cards and credit cards for its customers.
• Risk Management: Fiserv provides the risk management services that Dime Community Bancshares uses to identify, assess, and mitigate financial risks.
• Data Analytics: Fiserv provides the data analytics services that Dime Community Bancshares uses to gain insights into its customers' behavior and improve its products and services.

Additional Information:

• Fiserv is a leading global provider of financial technology solutions to banks and other financial institutions.
• Fiserv has a long-standing relationship with Dime Community Bancshares, providing financial technology solutions to the company for over 20 years.
• Fiserv's solutions are used by over 12,000 financial institutions worldwide, including 8 of the top 10 banks in the United States.

Dime Community Bancshares, Inc. is the bank holding company for Dime Community Bank, which is headquartered in Hauppauge, New York. The bank provides a range of financial services to individuals, businesses, and municipalities in the New York metropolitan area. As of December 31, 2021, Dime Community Bank had total assets of $6.3 billion and total deposits of $5.1 billion.

The bank's main customers are individuals, businesses, and municipalities in the New York metropolitan area. The bank offers a variety of products and services to its customers, including checking and savings accounts, loans, mortgages, and investment services.

Some of the bank's largest customers include:

• Suffolk County, New York
• Nassau County, New York
• Town of Islip, New York
• Town of Babylon, New York
• Town of Huntington, New York

The bank's website is www.dime.com.

Dime Community Bancshares, Inc. (NASDAQ: DCOM)

Dime Community Bancshares, Inc. is a bank holding company. The Company provides a range of financial services including personal and business banking, mortgage lending, and wealth management services through its subsidiary, Dime Community Bank.

Key Revenue Streams:

1. Net Interest Income

• Estimated Annual Revenue: $104.7 million (2022)

This income arises from the difference between interest earned on loans, securities, and other lending activities and interest paid on deposits and borrowed funds. It accounts for the majority of the company's revenue.

2. Non-Interest Income

• Estimated Annual Revenue: $28.1 million (2022)

This income includes fees earned from various services provided by the bank, such as:

• Service charges on deposit accounts
• Loan origination and servicing fees
• Wealth management fees
• Debit and credit card fees

3. Other Income

• Estimated Annual Revenue: $1.3 million (2022)

This income may arise from sources such as:

• Gains on the sale of investments
• Gains on foreclosure properties
• Insurance recoveries

Estimated Total Annual Revenue:

$134.1 million (2022)

Note: These revenue estimates are based on the company's financial statements for the year ended December 31, 2022. Actual revenue may vary in future periods.

Key Partners of Dime Community Bancshares, Inc.

1. Jack Henry & Associates, Inc.

• Website: https://www.jackhenry.com/
• Provides core banking and digital banking solutions

2. Fiserv, Inc.

• Website: https://www.fiserv.com/en-us.html
• Offers payment processing, financial services technology, and risk management solutions

3. The Clearing House Payments Company L.L.C.

• Website: https://www.theclearinghouse.org/
• Provides payment and settlement services

4. PSCU

• Website: https://www.pscu.com/
• Offers payment solutions, data processing, and marketing services to financial institutions

5. NYCE Payments Network, LLC

• Website: https://www.nycepayments.com/
• Provides electronic check processing and image exchange services

6. Zelle

• Website: https://www.zellepay.com/
• Offers person-to-person payment services

7. Visa Inc.

• Website: https://www.visa.com/
• Provides credit and debit card services

8. Mastercard Inc.

• Website: https://www.mastercard.com/
• Provides credit and debit card services

9. The Federal Home Loan Bank of New York

• Website: https://www.fhlbny.com/
• Provides funding and support services to financial institutions

10. National Credit Union Administration

• Website: https://www.ncua.gov/
• Regulates and insures credit unions

11. Federal Deposit Insurance Corporation

• Website: https://www.fdic.gov/
• Insures deposits at member banks

12. New York State Department of Financial Services

• Website: https://www.dfs.ny.gov/
• Regulates financial institutions in New York State

13. Independent Community Bankers of America (ICBA)

• Website: https://www.icba.org/
• Represents and supports community banks

14. New York Bankers Association (NYBA)

• Website: https://www.nyba.com/
• Represents and supports banks in New York State

Key Cost Structure of Dime Community Bancshares

Dime Community Bancshares, Inc. is a financial holding company headquartered in Brooklyn, New York. The company operates through its two primary subsidiaries: Dime Savings Bank of Williamsburgh and Dime Brokerage Services, Inc.

Key Cost Components (Estimated Annual Cost)

1. Interest Expense ($225 million)

• Interest paid to depositors on savings accounts, checking accounts, and certificates of deposit.

2. Salaries and Benefits ($150 million)

• Compensation for employees, including base salary, bonuses, and employee benefits (health insurance, retirement contributions, etc.).

3. Occupancy Expenses ($50 million)

• Rent or mortgage payments for branch offices, corporate headquarters, and other facilities.

4. Technology Expenses ($35 million)

• Costs associated with maintaining and upgrading core banking systems, online banking platforms, and other technology infrastructure.

5. Marketing and Advertising ($25 million)

• Expenses for promoting products and services, including online advertising, print media, and community outreach.

6. Regulatory Compliance ($20 million)

• Costs associated with meeting regulatory requirements, such as audits, compliance training, and legal fees.

7. Professional Fees ($15 million)

• Fees paid to external consultants, legal counsel, and accountants for specialized services.

8. Depreciation and Amortization ($10 million)

• Non-cash expense related to the wear and tear of fixed assets (e.g., equipment, buildings) and the amortization of intangible assets (e.g., trademarks).

9. Insurance ($5 million)

• Premiums paid for property, casualty, and other types of insurance.

10. Other Expenses ($10 million)

• Miscellaneous expenses, such as travel, utilities, supplies, and administrative costs.

Total Estimated Annual Cost: $545 million

Analysis

Dime Community Bancshares' cost structure is heavily influenced by its role as a financial services provider. Interest expense and salaries and benefits account for a significant portion of its total costs, reflecting the importance of attracting and retaining depositors and employees. Occupancy expenses are also substantial, as the company operates a network of branch offices and other facilities.

To offset these costs, Dime Community Bancshares generates revenue primarily through interest income earned on loans and investments. The company also earns income from fees and commissions associated with brokerage services and other financial products.

By carefully managing its costs and maintaining strong financial performance, Dime Community Bancshares is able to provide competitive products and services to its customers while generating sustainable profits for its shareholders.

Sales Channels of Dime Community Bancshares

Dime Community Bancshares operates through a network of branches, ATMs, and online banking services. As of December 31, 2022, the company had:

• 103 branches located in New York, New Jersey, and Connecticut.
• 229 ATMs located throughout the company's service area.
• A robust online banking platform that allows customers to manage their accounts, make payments, and apply for loans.

Estimated Annual Sales

Dime Community Bancshares does not publicly disclose its sales figures. However, based on the company's financial statements and industry data, it is estimated that the company generates annual sales of approximately $300 million. This figure includes revenue from the following sources:

• Interest income: Interest earned on loans and other interest-bearing assets.
• Fee income: Fees charged for services such as ATM transactions, wire transfers, and account maintenance.
• Other income: Income from sources such as investment gains and loan sales.

Target Market

Dime Community Bancshares targets a wide range of customers, including:

• Individuals and families
• Small businesses
• Non-profit organizations
• Municipal governments

The company focuses on providing personalized service and tailored financial solutions to meet the specific needs of each customer segment.

Competitive Landscape

Dime Community Bancshares operates in a competitive banking market. The company's main competitors include:

• Large national banks: Such as JPMorgan Chase, Bank of America, and Wells Fargo.
• Regional banks: Such as M&T Bank, Citizens Bank, and Santander Bank.
• Local community banks: Such as Suffolk County National Bank, North Fork Bank, and The Bank of Smithtown.

To differentiate itself from its competitors, Dime Community Bancshares emphasizes its local presence, customer service, and commitment to community involvement.

Customer Segments of Dime Community Bancshares

Dime Community Bancshares primarily serves the following customer segments:

• Retail Customers: Individuals and families who maintain deposit accounts, take out loans, and use other financial services.
• Small Businesses: Companies with annual revenues generally less than $5 million that require banking, lending, and financial management services.
• Commercial Customers: Businesses with annual revenues typically ranging from $5 million to $100 million that seek more sophisticated financial solutions, including lending, cash management, and investment services.
• Municipal and Non-Profit Organizations: Local governments, schools, and non-profit organizations that require banking and investment services tailored to their unique needs.
• Wealth Management Clients: High-net-worth individuals and families who seek personalized financial planning, investment management, and trust services.

Estimated Annual Sales

Dime Community Bancshares does not disclose its annual sales by customer segment. However, based on the company's financial statements and industry data, the estimated annual sales for each segment are as follows:

• Retail Customers: $500 million - $750 million
• Small Businesses: $250 million - $400 million
• Commercial Customers: $200 million - $350 million
• Municipal and Non-Profit Organizations: $50 million - $100 million
• Wealth Management Clients: $100 million - $200 million

Total Estimated Annual Sales: $1.1 billion - $1.8 billion

It's important to note that these are estimates and actual sales may vary depending on economic conditions and competitive factors.

Dime Community Bancshares' Value Proposition

Serving Underserved Communities:

• Dime caters to low-and moderate-income (LMI) communities, providing financial services to those often overlooked by larger banks.
• The bank's focus on community banking allows it to develop tailored products and services that meet the unique needs of these underserved markets.

Comprehensive Financial Solutions:

• Dime offers a wide range of banking products, including checking and savings accounts, loans, and investment services.
• By providing a comprehensive suite of financial solutions, the bank enables its customers to manage their finances conveniently through a single provider.

Personalized Banking Experience:

• Dime emphasizes building strong relationships with its customers, offering personalized service and tailored advice.
• The bank's local branches and experienced staff provide personalized guidance and support, catering to the specific requirements of each customer.

Commitment to Local Communities:

• Dime actively engages in community initiatives, supporting local businesses, non-profit organizations, and economic development.
• The bank's involvement strengthens community ties and demonstrates its commitment to the regions it serves.

Financial Stability and Safety:

• Dime is a well-capitalized institution with a strong financial foundation.
• The bank's prudent risk management practices ensure the safety and security of its customers' deposits.

Community Reinvestment:

• Dime invests significantly in the communities it serves through loans to businesses, affordable housing, and community development projects.
• This reinvestment stimulates economic growth, job creation, and neighborhood improvement.

Technology and Convenience:

• Dime embraces technology to provide convenient banking services, such as online banking, mobile banking, and remote deposit capture.
• The bank's investments in digital channels enhance customer convenience and accessibility.

Competitive Pricing:

• Dime offers competitive rates on its products and services, including affordable loan options and competitive interest rates on deposits.
• By providing value-driven pricing, the bank makes financial services accessible to those who may not have access to traditional banking options.

Value-Added Services:

• Dime provides additional services beyond traditional banking, such as financial education programs and support for small businesses.
• These services empower customers to improve their financial well-being and achieve greater financial success.

Conclusion:

Dime Community Bancshares offers a compelling value proposition by delivering essential financial services to underserved communities, providing personalized banking experiences, and supporting local economic development. Its focus on community banking and commitment to financial stability, safety, and affordability set it apart as a valuable financial partner for its customers.

Dime Community Bancshares, Inc. (DCOM) is a bank holding company headquartered in New York City. The company operates a network of 26 branches and 53 ATMs throughout the New York metropolitan area. Dime Community Bancshares has approximately $3.5 billion in assets and $2.6 billion in deposits.

The company's primary risk factors include:

• Credit risk: Dime Community Bancshares is exposed to credit risk through its lending activities. The company's loan portfolio is primarily composed of commercial real estate loans, which are subject to risk of default during economic downturns.
• Interest rate risk: Dime Community Bancshares is exposed to interest rate risk through its deposit and loan portfolios. The company's net interest margin is sensitive to changes in interest rates, and a decline in interest rates could reduce the company's profitability.
• Liquidity risk: Dime Community Bancshares is exposed to liquidity risk due to its reliance on deposits for funding. The company's ability to meet its financial obligations could be impaired if depositors withdraw their funds.
• Operational risk: Dime Community Bancshares is exposed to operational risk due to its reliance on technology and its employees. The company's operations could be disrupted by a variety of events, including cyber attacks, natural disasters, and employee errors.
• Regulatory risk: Dime Community Bancshares is subject to a variety of laws and regulations that could affect its operations. The company's compliance with these laws and regulations could impose significant costs and could limit the company's ability to operate.

In addition to these risk factors, Dime Community Bancshares is also exposed to a number of other risks, including:

• Competition: The company operates in a competitive banking market, and it faces competition from a variety of banks and financial institutions.
• Economic conditions: The company's financial performance is sensitive to economic conditions. A recession or economic downturn could reduce the demand for the company's products and services.
• Reputational risk: The company's reputation could be damaged by a variety of events, including negative publicity, lawsuits, or regulatory actions.

Dime Community Bancshares has implemented a number of risk management policies and procedures to mitigate these risks. However, these risks could still have a material impact on the company's financial performance.