Organic Growth Strategy and The Hiring of Teams is Paying Dividends With Linked Quarter Growth in Core Deposits of Approximately $800 Million and Business Loans of Over $175 Million
HAUPPAUGE, N.Y., Jan. 21, 2026 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (NASDAQ:DCOM) (the "Company" or "Dime"), the parent company of Dime Community Bank (the "Bank"), today reported net income available to common stockholders of $103.4 million for the year ended December 31, 2025, or $2.36 per diluted common share, compared to net income available to common stockholders of $21.8 million, or $0.55 per diluted common share, for the year ended December 31, 2024.
For the quarter ended December 31, 2025, net income available to common stockholders was $30.0 million, or $0.68 per diluted common share, compared to $25.8 million, or $0.59 per diluted common share, for the quarter ended September 30, 2025, and net loss available to common stockholders of $22.2 million, or ($0.54) per diluted common share, for the quarter ended December 31, 2024.
Adjusted net income available to common stockholders (non-GAAP) was $34.5 million and adjusted diluted EPS (non-GAAP) was $0.79 per share for the quarter ended December 31, 2025, compared to $0.61 per share for the quarter ended September 30, 2025 and $0.42 for the quarter ended December 31, 2024 (see "Non-GAAP Reconciliation" tables at the end of this news release).
Stuart H. Lubow, President and Chief Executive Officer ("CEO") of the Company, stated, "During the fourth quarter, we executed on all aspects of our strategic plan, including: substantial growth in core deposits and business loans, a reduction in the CRE concentration ratio, an improvement in return metrics and efficiency levels, and maintenance of solid asset quality levels. Total fourth quarter revenue of $124 million was a record for Dime, and we anticipate continued revenue growth in the years ahead as we have a significant loan repricing opportunity that will continue through 2027. Our organic growth strategy and the hiring of teams is paying dividends as evidenced by an 88% year-over-year increase in adjusted diluted EPS to $0.79 per share. Thanks to the hard work of all of our bankers and corporate staff, Dime has firmly established itself as a commercial and private banking powerhouse."
Highlights for the Fourth Quarter of 2025 included:
Adjusted diluted EPS of $0.79 per share for the fourth quarter of 2025, compared to $0.61 per share for the third quarter of 2025;
Total deposits increased $1.16 billion on a year-over-year basis;
Core deposits (excluding brokered and time deposits) increased $1.26 billion on a year-over-year basis;
Average non-interest-bearing deposits to average total deposits for the fourth quarter increased to 30.5% compared to 29.9% for the prior quarter;
The loan to deposit ratio declined to 83.8% at the end of the fourth quarter compared to 88.9% for the prior quarter;
Business loans grew $177.9 million on a linked quarter basis and $514.0 million on a year-over-year basis;
The net interest margin increased to 3.11% for the fourth quarter of 2025 compared to 3.01% for the prior quarter;
The efficiency ratio decreased to 52.6% for the fourth quarter of 2025 compared to 53.8% for the prior quarter;
The adjusted efficiency ratio decreased to 50.3% for the fourth quarter of 2025 compared to 53.1% for the prior quarter;
The Company's Common Equity Tier 1 Ratio increased to 11.66% at the end of the fourth quarter;
The Company's Consolidated CRE Concentration ratio was proactively managed lower to 387%; and
Non-performing assets declined by 27% on a linked quarter basis and represent 0.34% of Total Assets.
Management's Discussion of Quarterly Operating Results
Net Interest Income
Net interest income for the fourth quarter of 2025 was $112.3 million compared to $103.4 million for the third quarter of 2025 and $91.1 million for the fourth quarter of 2024. The Net Interest Margin for the fourth quarter of 2025 was 3.11% compared to 3.01% for the third quarter of 2025 and 2.79% for the fourth quarter of 2024.
Mr. Lubow commented, "We continue to have a significant loan repricing opportunity that will continue through 2027. Additionally, growth in core deposits and business loans will benefit us over time as we continue to grow customers and hire productive bankers. Our substantial liquidity position, which includes $2.35 billion of cash, provides us with the flexibility to be opportunistic and take advantage of lending opportunities as they may arise."
Loan Portfolio
The ending weighted average rate ("WAR") on the total loan portfolio was 5.27% at December 31, 2025, a 10 basis point decrease compared to the ending WAR of 5.37% on the total loan portfolio at September 30, 2025.
Outlined below are loan balances and WARs for the quarter ended as indicated.
December 31, 2025
September 30, 2025
December 31, 2024
(Dollars in thousands)
Balance
WAR(1)
Balance
WAR(1)
Balance
WAR(1)
Loans held for investment balances at period end:
Business loans(2)
$
3,240,600
6.32
%
$
3,062,674
6.60
%
$
2,726,602
6.56
%
One-to-four family residential and coop/condo apartment
1,035,983
4.94
1,030,949
4.92
952,195
4.72
Multifamily residential and residential mixed-use(3)(4)
3,424,565
4.46
3,509,811
4.52
3,820,492
4.49
Non-owner-occupied commercial real estate
2,933,287
5.07
2,975,474
5.13
3,231,398
5.13
Acquisition, development, and construction
117,215
7.51
139,145
8.04
136,172
7.95
Other loans
6,558
11.09
7,621
11.14
5,084
10.51
Loans held for investment
$
10,758,208
5.27
%
$
10,725,674
5.37
%
$
10,871,943
5.26
%
(1) WAR is calculated by aggregating interest based on the current loan rate from each loan in the category, adjusted for non-accrual loans, divided by the total balance of loans in the category.(2) Business loans include commercial and industrial loans, owner-occupied commercial real estate loans and Paycheck Protection Program ("PPP") loans. (3) Includes loans underlying multifamily cooperatives. (4) While the loans within this category are often considered "commercial real estate" in nature, multifamily and loans underlying cooperatives are reported separately from commercial real estate loans in order to emphasize the residential nature of the collateral underlying this significant component of the total loan portfolio.
Outlined below are the loan originations, for the quarter ended as indicated.
(Dollars in millions)
Q4 2025
Q3 2025
Q4 2024
Originations Excluding New Lines of Credit
$
225.3
$
170.6
$
187.5
Originations Including New Lines of Credit
467.2
535.6
361.2
Deposits and Borrowed Funds
Period end total deposits (including mortgage escrow deposits) at December 31, 2025 were $12.84 billion, compared to $12.06 billion at September 30, 2025 and $11.69 billion at December 31, 2024.
Mr. Lubow commented, "Deposit growth in the fourth quarter was broad based, across all of our channels, including contributions from the branch network, commercial banking, private banking and municipal banking."
Brokered deposits were $200.0 million at December 31, 2025, compared to $200.0 million at September 30, 2025 and $422.8 million at December 31, 2024. Total Federal Home Loan Bank advances were $508.0 million at December 31, 2025, compared to $508.0 million at September 30, 2025 and $608.0 million at December 31, 2024.
Non-Interest Income
Non-interest income was $11.5 million during the fourth quarter of 2025, $12.2 million during the third quarter of 2025, and a loss of $33.9 million during the fourth quarter of 2024. Fourth quarter 2024 results included $42.8 million of pre-tax loss-on-sale of securities related to the re-positioning of the available-for-sale securities portfolio.
Non-Interest Expense
Total non-interest expense was $65.1 million during the fourth quarter of 2025, $62.2 million during the third quarter of 2025, and $60.6 million during the fourth quarter of 2024. Excluding the impact of the loss on extinguishment of debt, amortization of other intangible assets, severance expense, settlement loss related to the termination of a legacy pension plan, and the FDIC special assessment, adjusted non-interest expense was $62.3 million during the fourth quarter of 2025, $62.0 million during the third quarter of 2025, and $57.7 million during the fourth quarter of 2024 (see "Non-GAAP Reconciliation" tables at the end of this news release).
The ratio of non-interest expense to average assets was 1.72% during the fourth quarter of 2025, compared to 1.73% during the linked quarter and 1.76% during the fourth quarter of 2024. Excluding the impact of the loss on extinguishment of debt, amortization of other intangible assets, severance expense, the FDIC special assessment and settlement loss related to the termination of a legacy pension plan, the ratio of adjusted non-interest expense to average assets was 1.65% during the fourth quarter of 2025, 1.72% during the third quarter of 2025, and 1.68% during the fourth quarter of 2024 (see "Non-GAAP Reconciliation" tables at the end of this news release).
The efficiency ratio was 52.6% during the fourth quarter of 2025, compared to 53.8% during the linked quarter and 105.9% during the fourth quarter of 2024. Excluding the impact of net (gain) loss on sale of securities and other assets, fair value change in equity securities and loans held for sale, severance expense, the FDIC special assessment, settlement loss related to the termination of a legacy pension plan, loss on extinguishment of debt and amortization of other intangible assets, the adjusted efficiency ratio was 50.3% during the fourth quarter of 2025, compared to 53.1% during the linked quarter and 58.0% during the fourth quarter of 2024 (see "Non-GAAP Reconciliation" tables at the end of this news release).
Income Tax Expense
Income tax expense was $16.0 million during the fourth quarter of 2025, $12.4 million during the third quarter of 2025, and $3.3 million during the fourth quarter of 2024. The fourth quarter of 2025 included $2.7 million of net expense from discrete items related to an uncertain tax position and a deferred tax item from prior tax years. The fourth quarter of 2024 included $9.1 million of income tax expense related to the taxable gain and Modified Endowment Contract Tax ("MEC Tax") on the surrender of legacy Bank Owned Life Insurance ("BOLI") assets. Excluding the tax impact of the discrete items noted above, the effective tax rate for the fourth quarter of 2025 was 27.8%. Excluding the tax impact of the BOLI surrender, the fourth quarter 2024 effective rate was a tax benefit of 33.5%.
Credit Quality
Non-performing loans were $52.3 million at December 31, 2025, compared to $72.1 million at September 30, 2025 and $49.5 million at December 31, 2024.
A credit loss provision of $10.9 million was recorded during the fourth quarter of 2025, compared to a credit loss provision of $13.3 million during the third quarter of 2025, and a credit loss provision of $13.7 million during the fourth quarter of 2024.
Capital Management
Stockholders' equity increased $23.4 million to $1.48 billion at December 31, 2025, compared to $1.45 billion at September 30, 2025.
The Company's and the Bank's regulatory capital ratios continued to be in excess of all applicable regulatory requirements as of December 31, 2025.
Dividends per common share were $0.25 during the fourth quarter of 2025 and $0.25 for the third quarter of 2025.
Book value per common share was $30.99 at December 31, 2025 compared to $30.44 at September 30, 2025.
Tangible common book value per share (which represents common equity less goodwill and other intangible assets, divided by the number of shares outstanding) was $27.37 at December 31, 2025 compared to $26.81 at September 30, 2025 (see "Non-GAAP Reconciliation" tables at the end of this news release).
Earnings Call Information
The Company will conduct a conference call at 8:30 a.m. (ET) on Wednesday, January 21, 2026, during which CEO Lubow will discuss the Company's fourth quarter 2025 financial performance, with a question-and-answer session to follow.
Participants may access the conference call via webcast using this link: https://edge.media-server.com/mmc/p/9ncxg8oo. To participate via telephone, please register in advance using this link: https://register-conf.media-server.com/register/BIddc983f5af2546dbb4f189945a63193d. Upon registration, all telephone participants will receive a one-time confirmation email detailing how to join the conference call, including the dial-in number along with a unique PIN that can be used to access the call. All participants are encouraged to dial-in 10 minutes prior to the start time.
A replay of the conference call and webcast will be available on-demand for 12 months at https://edge.media-server.com/mmc/p/9ncxg8oo.
ABOUT DIME COMMUNITY BANCSHARES, INC.Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with approximately $15 billion in assets and the number one deposit market share among community banks on Greater Long Island. (1)
(1) Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets.
This news release contains a number of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements may be identified by use of words such as "annualized," "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "likely," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar terms and phrases, including references to assumptions.
Forward-looking statements are based upon various assumptions and analyses made by the Company in light of management's experience and its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate under the circumstances. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors (many of which are beyond the Company's control) that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Accordingly, you should not place undue reliance on such statements. Factors that could affect our results include, without limitation, the following: the timing and occurrence or non-occurrence of events may be subject to circumstances beyond the Company's control; there may be increases in competitive pressure among financial institutions or from non-financial institutions; changes in the interest rate environment may affect demand for our products and reduce interest margins and the value of our investments; changes in government monetary or fiscal policies and actions may adversely affect our customers, cost of credit and overall result of operations; changes in deposit flows, the cost of funds, loan demand or real estate values may adversely affect the business of the Company; changes in the quality and composition of the Company's loan or investment portfolios or unanticipated or significant increases in loan losses may negatively affect the Company's financial condition or results of operations; changes in accounting principles, policies or guidelines may cause the Company's financial condition to be perceived differently; changes in corporate and/or individual income tax laws may adversely affect the Company's financial condition or results of operations; general socio-economic conditions, public health emergencies, international conflict, inflation, tariffs, and recessionary pressures, either nationally or locally in some or all areas in which the Company conducts business, or conditions in the securities markets or the banking industry may be less favorable than the Company currently anticipates and may adversely affect our customers, our financial results and our operations; legislation or regulatory changes may adversely affect the Company's business; technological changes may be more difficult or expensive than the Company anticipates; there may be failures or breaches of information technology security systems; success or consummation of new business initiatives may be more difficult or expensive than the Company anticipates; there may be difficulties or unanticipated expense incurred in the consummation of new business initiatives or the integration of any acquired entities; and litigation or other matters before regulatory agencies, whether currently existing or commencing in the future, may delay the occurrence or non-occurrence of events longer than the Company anticipates. For discussion of these and other risks that may cause actual results to differ from expectations, please refer to the sections entitled "Forward-Looking Statements" and "Risk Factors" in the Company's most recent Annual Report on Form 10-K and updates set forth in the Company's subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Contact: Avinash ReddySenior Executive Vice President, Chief Operating Officer and Chief Financial Officer718-782-6200 extension 5909
DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(In thousands)
December 31,
September 30,
December 31,
2025
2025
2024
Assets:
Cash and due from banks
$
2,353,966
$
1,715,044
$
1,283,571
Securities available-for-sale, at fair value
797,935
662,667
690,693
Securities held-to-maturity
618,901
623,094
637,339
Loans held for sale
1,989
—
22,625
Loans held for investment, net:
Business loans(1)
3,240,600
3,062,674
2,726,602
One-to-four family residential and coop/condo apartment
1,035,983
1,030,949
952,195
Multifamily residential and residential mixed-use(2)(3)
3,424,565
3,509,811
3,820,492
Non-owner-occupied commercial real estate
2,933,287
2,975,474
3,231,398
Acquisition, development and construction
117,215
139,145
136,172
Other loans
6,558
7,621
5,084
Allowance for credit losses
(97,372
)
(94,061
)
(88,751
)
Total loans held for investment, net
10,660,836
10,631,613
10,783,192
Premises and fixed assets, net
31,255
32,525
34,858
Restricted stock
67,197
66,989
69,106
BOLI
401,163
396,904
290,665
Goodwill
155,797
155,797
155,797
Other intangible assets
2,938
3,173
3,896
Operating lease assets
42,876
45,402
46,193
Derivative assets
76,315
81,440
116,496
Accrued interest receivable
55,572
57,048
55,970
Other assets
74,891
67,247
162,857
Total assets
$
15,341,631
$
14,538,943
$
14,353,258
Liabilities:
Non-interest-bearing checking (excluding mortgage escrow deposits)
$
3,915,081
$
3,597,682
$
3,355,829
Interest-bearing checking
1,178,281
1,094,995
1,079,823
Savings (excluding mortgage escrow deposits)
1,777,143
1,721,670
1,927,903
Money market
4,806,572
4,425,143
4,198,784
Certificates of deposit
1,117,118
1,138,872
1,069,081
Deposits (excluding mortgage escrow deposits)
12,794,195
11,978,362
11,631,420
Non-interest-bearing mortgage escrow deposits
47,051
83,240
54,715
Interest-bearing mortgage escrow deposits
—
5
6
Total mortgage escrow deposits
47,051
83,245
54,721
Total deposits (including mortgage escrow deposits)
12,841,246
12,061,607
11,686,141
FHLBNY advances
508,000
508,000
608,000
Other short-term borrowings
—
—
50,000
Subordinated debt, net
272,503
272,459
272,325
Derivative cash collateral
52,400
57,260
112,420
Operating lease liabilities
45,729
48,138
48,993
Derivative liabilities
73,573
77,637
108,347
Other liabilities
72,411
61,500
70,515
Total liabilities
13,865,862
13,086,601
12,956,741
Stockholders' equity:
Preferred stock, Series A
116,569
116,569
116,569
Common stock
462
461
461
Additional paid-in capital
623,041
622,657
624,822
Retained earnings
854,167
835,083
794,526
Accumulated other comprehensive loss ("AOCI"), net of deferred taxes
(31,468
)
(33,596
)
(45,018
)
Unearned equity awards
(8,661
)
(11,332
)
(7,640
)
Treasury stock, at cost
(78,341
)
(77,500
)
(87,203
)
Total stockholders' equity
1,475,769
1,452,342
1,396,517
Total liabilities and stockholders' equity
$
15,341,631
$
14,538,943
$
14,353,258
(1) Business loans include commercial and industrial loans, owner-occupied commercial real estate loans and PPP loans.(2) Includes loans underlying multifamily cooperatives.(3) While the loans within this category are often considered "commercial real estate" in nature, multifamily and loans underlying cooperatives are here reported separately from commercial real estate loans in order to emphasize the residential nature of the collateral underlying this significant component of the total loan portfolio.
DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands except share and per share amounts)
Three Months Ended
Year Ended
December 31,
September 30,
December 31,
December 31,
December 31,
2025
2025
2024
2025
2024
Interest income:
Loans
$
147,143
$
147,756
$
148,000
$
583,052
$
590,492
Securities
11,354
11,338
10,010
45,368
33,563
Other short-term investments
21,987
16,449
7,473
57,022
26,094
Total interest income
180,484
175,543
165,483
685,442
650,149
Interest expense:
Deposits and escrow
58,926
62,950
64,773
240,131
284,745
Borrowed funds
8,718
8,406
8,542
33,859
41,036
Derivative cash collateral
551
788
1,070
3,454
6,314
Total interest expense
68,195
72,144
74,385
277,444
332,095
Net interest income
112,289
103,399
91,098
407,998
318,054
Provision for credit losses
10,889
13,294
13,715
43,030
36,113
Net interest income after provision
101,400
90,105
77,383
364,968
281,941
Non-interest income:
Service charges and other fees
5,413
5,209
3,942
19,907
16,725
Title fees
317
126
226
659
843
Loan level derivative income
285
650
491
1,938
2,114
BOLI income
