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NEW YORK - Dime Community Bancshares, Inc. (NASDAQ: DCOM), a $1.14 billion market cap regional bank currently trading at Fair Value according to InvestingPro analysis, announced Monday that Shawn Gines has been appointed Executive Vice President of Corporate and Specialty Finance.
According to a press release statement, Gines will focus on expanding Dime’s commercial lending operations, including growing relationships with corporate clients and private equity firms. He will also oversee the company’s recently launched Fund Finance vertical and develop additional specialty lending areas.
Gines, who will be based in Manhattan, previously served as Regional President for the NYC and New Jersey Metro Markets at Webster Bank. His prior experience includes roles as Senior Managing Director at Sterling National Bank and positions at GE Capital and Bank of America.
"Shawn is a very well-known and well-regarded banker with a strong track record," said Stuart H. Lubow, President and Chief Executive Officer of Dime.
Tom Geisel, Senior Executive Vice President of Commercial Lending at Dime, added that Gines’ experience "will significantly accelerate our execution" in the company’s target markets and asset classes.
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 the leading deposit market share among community banks in the Greater Long Island area, according to the company.
The appointment aligns with Dime’s stated growth strategy to diversify its commercial lending businesses and expand its balance sheet.
In other recent news, Dime Community Bancshares has been active with several significant developments. The company recently 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 named executive officers on a non-binding basis. In a strategic move to expand its presence in the New York City metropolitan area, Dime appointed Solomon Ponniah as Senior Vice President and Group Leader of its Commercial Lending division. Additionally, Elizabeth DiGangi was promoted to Chief Accounting Officer, a decision confirmed by the Board of Directors and detailed in an SEC filing.
Analyst firm Stephens revised its price target for Dime Community Bancshares to $32.50 from $36.00, while maintaining an Overweight rating. This adjustment followed the company’s first-quarter earnings for 2025, which exceeded consensus EPS expectations but fell short of Stephens’ forecasts due to a smaller-than-expected balance sheet. Stephens also revised its EPS predictions for 2025 and 2026 downward, citing anticipated increased expenses and a lower net interest margin in the near term. Despite these adjustments, Stephens remains optimistic about Dime Community’s financial outlook, noting the company’s strong balance sheet and robust credit metrics.
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