IREN proposes $875 million convertible notes offering due 2031
NEW YORK - Dime Community Bancshares, Inc. (NASDAQ:DCOM) announced Friday it has opened a new full-service branch location at 232 Madison Avenue in Manhattan after receiving all necessary regulatory approvals.
The new branch, located at the corner of Madison Avenue and 37th Street, will be managed by Lisa Reardon, who previously served as a branch manager with The First National Bank of Long Island.
"We are excited to open a new full-service banking location in Manhattan," said Stuart H. Lubow, President and Chief Executive Officer of Dime, in a press release statement. "Our new location aligns with our focus of selectively expanding our physical presence in a strategically important market."
Jim Manseau, Executive Vice President and Chief Banking Officer, noted that the company had been planning to expand its branch presence in Manhattan "for a number of years."
Dime Community Bancshares is the holding company for Dime Community Bank, a New York State-chartered trust company with over $14 billion in assets. With a market capitalization of $1.32 billion and a notable dividend yield of 3.31%, the company has maintained dividend payments for 29 consecutive years, according to InvestingPro data. The bank holds the top deposit market share among community banks on Greater Long Island.
The Madison Avenue location represents the bank’s continued expansion efforts in the New York metropolitan area, as stated in the company announcement. InvestingPro analysis suggests positive momentum for the bank, with net income expected to grow this year and 4 analysts revising their earnings expectations upward. For deeper insights into DCOM’s growth prospects and comprehensive financial analysis, investors can access the detailed Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Dime Community Bancshares reported its second-quarter earnings for 2025, exceeding analyst expectations with an earnings per share (EPS) of $0.64, compared to the forecasted $0.63. The company also outperformed revenue projections, recording $109.7 million against the expected $106.96 million. Additionally, Dime Community Bancshares declared a quarterly cash dividend of $0.25 per share, payable on October 24, 2025, to shareholders of record as of October 17, 2025. In terms of strategic developments, the company has expanded its commercial lending platform by hiring five new banking professionals to enhance its mid-corporate and specialty finance capabilities. These appointments include Ryan Kent as Director of Commercial Strategic Initiatives and Elvis Grgurovic as Co-Head of the Mid Corporate vertical. Furthermore, Keefe, Bruyette & Woods (KBW) has reiterated an Outperform rating on Dime Community Bancshares, with a price target of $36.00. The investment firm noted the company’s recent expansion efforts under the leadership of Tom Geisel, Senior Executive Vice President of Commercial Lending.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.