Dime Community reports Q4 adjusted EPS 42c, consensus 45c

The net interest margin increased to 2.79% for the fourth quarter of 2024 compared to 2.50% for the prior quarter; The Company’s Common Equity Tier 1 Ratio increased to 11.07% at the end of the fourth quarter. Tangible common book value per sharewas $25.68 at December 31, 2024 compared to $25.22 at September 30, 2024. Stuart Lubow, President and CEO, stated, “Our fourth quarter results were marked by continued core deposit growth and Net Interest Margin expansion. In addition, we successfully executed on several important initiatives in the fourth quarter, including a follow-on common equity offering. The proceeds from the offering were utilized to re-position our available-for-sale securities portfolio and Bank Owned Life Insurance portfolio and supplement our capital base. These transactions will contribute towards a stronger balance sheet, enhanced earnings power and support future growth. I would like to thank all of our employees for their tremendous efforts throughout the year that led to substantial year-over-year growth in core deposits and business loans as well as the Bank achieving an “Outstanding” rating on our recent Community Reinvestment Act examination.”