Powell’s speech, Nvidia’s chips, Meta deal - what’s moving markets
NEW YORK -On Tuesday, Dime Community Bancshares, Inc. (NASDAQ:DCOM) reported first quarter earnings that fell short of analyst expectations, as both revenue and earnings per share came in below consensus estimates.
The bank’s shares slipped -0.48% in premarket trading following the release.
The New York-based community bank posted adjusted earnings per share of $0.57 for the quarter ended March 31, 2025, missing the analyst consensus of $0.60. Revenue of $103.85 million also fell short of Wall Street’s projection of $105.71 million.
Net interest income rose to $94.2 million, up from $71.5 million in the same quarter last year. The net interest margin expanded to 2.95%, an increase of 16 basis points from the previous quarter.
Total (EPA:TTEF) deposits grew by $717 million year-over-year to $11.61 billion. Core deposits, excluding brokered and time deposits, increased by $1.35 billion compared to the first quarter of 2024.
"Our first quarter results were marked by strong Net Interest Margin expansion and continued progress in diversifying our balance sheet," said Stuart H. Lubow, President and CEO of Dime Community Bancshares. "Our enhanced earnings power and robust capital ratios position us well for future growth."
The bank’s Common Equity Tier 1 Ratio increased to 11.12% at the end of the quarter. Non-performing loans rose to $58 million, up from $49.5 million at the end of 2024.
While Dime Community Bancshares missed analyst targets for the quarter, management expressed optimism about the bank’s positioning for future growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.