Dime Community Bancshares

#5393

Rank

$1.19B

Marketcap

United States

Country

Leadership team

Mr. Kenneth J. Mahon (Exec. Chairman)

Mr. Kevin M. O'Connor (CEO & Director)

Mr. Stuart H. Lubow (COO & Pres)

Products/ Services

Banking, Commercial Lending, Communities, Wealth Management

Number of Employees

500 - 1000

Headquarters

Hauppauge, New York, United States

Established

1864

Company Registration

SEC CIK number: 0000846617

Net Income

100M - 500M

Revenue

100M - 500M

Traded as

DCOM

Social Media

URL

https://www.dime.com

Overview

Location

Recognition and Award

References

Summary

Dime Community Bancshares, Inc. operates as the holding company for Dime Community Bank that provides various commercial banking and financial services. It accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. The company also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; secured and unsecured commercial and consumer loans; home equity loans; and construction and land loans. In addition, it invests in Federal Home Loan Bank, Federal National Mortgage Association, Government National Mortgage Association, and Federal Home Loan Mortgage Corporation mortgage-backed securities, collateralized mortgage obligations, and other asset backed securities; U.S. Treasury securities; New York state and local municipal obligations; U.S. government-sponsored enterprise securities; and corporate bonds. Further, the company offers certificate of deposit account registry services and insured cash sweep programs; merchant credit and debit card processing, automated teller machines, cash management services, lockbox processing, online banking services, remote deposit capture, safe deposit boxes, and individual retirement accounts; investment products and services through a third-party broker dealer; and title insurance broker services. As of December 31, 2021, it operated 60 branch locations throughout Long Island and the New York City boroughs of Brooklyn, Queens, Manhattan, and the Bronx. Dime Community Bancshares, Inc. was founded in 1910 and is headquartered in Hauppauge, New York.

History

Dime Community Bank first opened in Brooklyn on June 1, 1864. Founded by William Grandy, Dime was established as a mutual savings bank serving the growing immigrant and low-income populations in the area.

Dime weathered a series of economic ups and downs as conditions in Williamsburg changed, finally incorporating and becoming a publicly traded company on June 26, 1996. At the same time, Dime acquired Conestoga Bancorp, Inc. and its wholly owned subsidiary, Pioneer Savings Bank, making it the first simultaneous IPO/acquisition of its kind in the nation.In 1999, Dime acquired Financial Bancorp, Inc. for $74 million.The bank is a wholly owned subsidiary of Dime Community Bancshares, Inc. , a publicly owned company. Dime Community Bancshares posted $6.7 billion in consolidated assets as of December 31, 2020. Dime finished among the top 5 on the S&P Global Market Intelligence thrift ranking for 9 consecutive years, from 2009 to 2017.In 2017, Dime began to shift their focus to commercial and business banking. In August 2017, Dime announced they had been approved as a Small Business Administration lender. The CEO, Kenneth J. Mahon, said, “the launch of our SBA lending program continues the expansion of our Business Banking division...We recognize that small businesses and entrepreneurs are important to the economic vibrancy of the communities we serve.”Dime Community Bank operates 60+ branches throughout the New York metropolitan area in Brooklyn, Queens, the Bronx, Nassau, and Suffolk .

Mission

Our mission is to be the premier banking and financial services provider in the communities we serve. We are dedicated to promoting the Spirit of West Texas and devoted to cultivating genuine personal relationships by partnering with our customers to fulfill their unique financial needs. We will offer innovative products and services delivered by responsive, friendly and knowledgeable professionals who will strive to create the Ultimate Customer Experience.

Vision

To become the most trusted financial partner to customers and communities.

Key Team

Mr. Avinash Reddy (Sr. EVP & CFO)

Ms. Patricia M. Schaubeck Esq. (Exec. VP, Gen. Counsel & Sec.)

Mr. Conrad J. Gunther Jr. (Sr. EVP & Chief Lending Officer)

Mr. Michael J. Fegan (Exec. VP and Chief Technology & Operations Officer)

Ms. Julie Levy (Exec. VP & Chief Marketing Officer)

Mr. Austin Stonitsch (Exec. VP & Chief HR Officer)

Mr. Michael A. Perez (Exec. VP & Chief Retail Officer)

Recognition and Awards

Dime Community Bancshares has earned an "Outstanding" Community Reinvestment Act rating from the U.S. Department of Treasury and was named the 2019 Outstanding Financial Institution of the Year from the New York Bankers Association.