US LNG exports surge but will buyers in China turn up?
HAUPPAUGE, N.Y. - Dime Community Bancshares, Inc. (NASDAQ:DCOM), a $1.15 billion market cap regional bank with a 29-year track record of consistent dividend payments, has received approval from the New Jersey Department of Banking and Insurance to open a branch location in Lakewood, New Jersey, the company announced Tuesday.
The new branch will be located at 500 Boulevard of Americas in Lakewood. The Federal Reserve Bank of New York and the New York State Department of Financial Services had previously approved the location.
Construction of the branch is expected to begin in the second half of 2025, with the opening planned for early 2026.
Dime Community Bancshares is the holding company for Dime Community Bank, a New York State-chartered trust company with over $14 billion in assets. The bank claims to hold the number one deposit market share among community banks on Greater Long Island.
The announcement was made in a press release statement from the company.
In other recent news, Dime Community Bancshares announced several key developments. The company held its annual shareholder meeting, where all proposed directors were elected, and Crowe LLP was ratified as the independent registered public accounting firm for 2025. Shareholders also approved the compensation of the company’s named executive officers on a non-binding advisory basis, reflecting confidence in the current management team. In a strategic move to expand its commercial lending operations, Dime appointed Shawn Gines as Executive Vice President of Corporate and Specialty Finance. Gines, with a strong background in banking, will focus on growing relationships with corporate clients and private equity firms. Additionally, the company appointed Solomon Ponniah as Senior Vice President and Group Leader of its Commercial Lending division, aligning with its goal to increase its presence in the New York City metro area. Dime also promoted Elizabeth DiGangi to Chief Accounting Officer, highlighting her extensive experience within the bank. These appointments are part of Dime’s broader strategy to diversify its business and strengthen its market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.