Dime Community Bancshares appoints new Chief Accounting Officer

Dime Community Bancshares, Inc. /NY/ (NASDAQ:DCOM), a New York-based commercial bank with a market capitalization of $1.1 billion, announced the promotion of Elizabeth DiGangi to the position of Chief Accounting Officer (CAO), effective immediately. The appointment was made public through a recent SEC Form 8-K filing. According to InvestingPro data, the bank currently trades at a P/E ratio of 40.4x, suggesting a premium valuation compared to its peers.

Ms. DiGangi, who has been with Dime Community Bank since July 2019, previously held the role of Senior Vice President and Controller since March 2024. Her experience includes nearly a decade at Suffolk Credit Union, where she served as Controller among other accounting roles. The bank has maintained a strong track record of shareholder returns, with InvestingPro data showing consistent dividend payments for 29 consecutive years, currently yielding 3.9%.

The Board of Directors confirmed the promotion on Monday, underscoring Ms. DiGangi’s extensive experience within the bank and her previous roles, which have prepared her for the CAO position. The company disclosed that there are no familial ties between Ms. DiGangi and any current director or executive officer, nor does she have any material interest in any transactions that would necessitate disclosure under SEC regulations.

As of now, Dime Community Bancshares has not entered into any new compensatory arrangements with Ms. DiGangi in connection with her appointment, according to the filing.

This leadership change comes as part of the bank’s ongoing management restructuring, aiming to strengthen its executive team. Dime Community Bancshares continues to operate as a key player in the commercial banking sector, with no additional changes to its executive lineup or compensatory policies reported.

The information regarding this executive shift is based on the company’s latest SEC filing, providing a transparent view of its internal corporate governance practices.

In other recent news, Dime Community Bancshares, Inc. reported mixed results for its Q1 2025 earnings, with an earnings per share (EPS) of $0.57, which fell short of the expected $0.60. Revenue also missed forecasts, coming in at $103.85 million against the anticipated $105.71 million. Despite the earnings miss, the company saw improvements in its net interest margin, which increased for the fourth consecutive quarter to 2.9%, and significant growth in business loans by $60 million during the quarter. Analyst Matthew M. Breese from Stephens adjusted the price target for Dime Community to $32.50 from $36.00, maintaining an Overweight rating, reflecting optimism despite the lowered EPS estimates. Stephens revised its operating EPS predictions for 2025 and 2026 downward by 8%-9%, citing increased expenses and a lower net interest margin expected in the near term. However, the firm remains optimistic about Dime Community’s financial outlook, supported by an expanding net interest margin and strong balance sheet quality. The company also anticipates significant loan repricing opportunities in the latter half of the year, which could enhance its net interest margin by 35 basis points.

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