Dime Community Bancshares, Inc. is the bank holding company for Dime Community Bank, a federally chartered savings bank headquartered in Hauppauge, New York. Founded in 1864 as Dime Savings Bank of Williamsburgh, the company has grown through organic expansion and strategic acquisitions, most notably the acquisition of Hudson City Bancorp in 2015. Dime operates as a full-service community bank offering a broad range of deposit, lending and wealth management solutions to individuals, businesses and institutions in the New York metropolitan area.
The company’s product portfolio includes personal checking and savings accounts, certificates of deposit, money market accounts and trust services. On the lending side, Dime provides residential mortgages, home equity lines of credit, multifamily and commercial real estate loans, as well as small business and commercial finance. Dime also offers wealth management, investment advisory and retirement planning services through its private banking and trust divisions.
In September 2023, Dime Community Bancshares issued 9.000% Fixed-to-Floating Rate Subordinated Notes due 2034 (NASDAQ: DCOMG). These notes pay interest at a fixed rate of 9.000% per annum through October 15, 2029, after which the rate resets quarterly at a spread over three-month SOFR. The notes are unsecured and subordinated, qualifying as Tier 2 regulatory capital for the company. Net proceeds from the offering are intended for general corporate purposes, including strengthening Dime’s capital base and supporting future growth initiatives.
Kenneth P. Mahoney serves as President and Chief Executive Officer of Dime Community Bancshares. Under his leadership, the company has focused on deepening customer relationships in its core markets across Long Island, Brooklyn, Queens and the Bronx, while enhancing digital banking capabilities to support evolving client needs.
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