Kevin O’Connor, CEO of the company, stated, "Despite the volatile environment in the first quarter, including the failure of two sizable banks, Dime increased earnings per share by 12.2% on a year-over-year basis. Importantly, we grew deposits, and increased our on balance sheet liquidity and regulatory capital ratios versus year-end levels. The granularity of our deposit base is evidenced by non-insured deposits representing only 30% of total deposits at the end of the first quarter. Our business model is that of a plain-vanilla community commercial bank and we are well positioned to continue growing our franchise one relationship at a time." Stuart Lubow, President and COO of the company, stated, "The recent disruption in our marketplace caused by the failure of a local competitor has provided a significant opportunity for Dime to grow our deposit franchise. We are pleased to announce that over the course of the last few weeks we have hired four seasoned deposit-focused Groups, who were previously employed with Signature Bank."
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