Dime Community Bancshares Inaugurates Lender Finance Division
HAUPPAUGE, N.Y. — Dime Community Bancshares, Inc. (NASDAQ: DCOM), the parent organization of Dime Community Bank, is making significant strides in its commercial lending capabilities with the introduction of a newly established Lender Finance vertical. This announcement comes with the appointments of Jason Brenner and Zack Schwartz as Co-Heads of the division.
Experienced Leadership for Lender Finance
Jason Brenner, who previously served as Managing Director and Head of Originations for Non-Real Estate Lender Finance at AXOS Bank, brings a wealth of knowledge to the team. Alongside him, Zack Schwartz joins from First Citizens Bank where he was the Director and Underwriting Team Lead. Both leaders will work from the Manhattan office, under the guidance of Shawn Gines, Executive Vice President, Corporate and Specialty Finance.
Focus on Diversification in Commercial Lending
Stuart H. Lubow, President and Chief Executive Officer of Dime Community Bancshares, expressed enthusiasm over the appointments, highlighting the vital roles Brenner and Schwartz will play in expanding the company's commercial lending offerings. Lubow stated, "Their expertise will significantly enhance our focus on lender finance, providing dedicated support to our private equity and private credit clientele." Their addition marks a pivotal move in reinforcing the company's dedication to diversifying its lending verticals.
Growth Through New Business Channels
Tom Geisel, the Senior Executive Vice President of Commercial Lending at Dime, emphasized the importance of diversification in client services. With the establishment of the Lender Finance vertical, Dime now operates five distinct business segments, which include Healthcare, Lender Finance, Mid-Corporate, Fund Finance, and Not-For-Profit Lending. Geisel noted, "Adding Lender Finance to our offerings is a strategic move aimed at accelerating our growth and broadening our service capabilities.”
About Dime Community Bancshares, Inc.
Dime Community Bancshares, Inc. serves as the holding company for Dime Community Bank, characterized as a New York State-chartered trust company. The institution boasts over $14 billion in assets, positioning it as the leader in deposit market share among community banks on Greater Long Island.
Contact Information:
Dime Community Bancshares, Inc.
Investor Relations Contact:
Avinash Reddy
Senior Executive Vice President – Chief Financial Officer
Phone: 718-782-6200; Ext. 5909
Email: avinash.reddy@dime.com
Frequently Asked Questions
What is the new vertical established by Dime Community Bancshares?
The new Lender Finance vertical aims to enhance Dime's commercial lending capabilities.
Who are the Co-Heads of the Lender Finance division?
Jason Brenner and Zack Schwartz have been appointed as Co-Heads of the Lender Finance vertical.
What is the significance of diversifying lending services?
Diversifying lending services allows Dime to cater to a broader client base and reduce risk associated with any single market segment.
What other verticals does Dime Community Bancshares operate?
Dime operates five verticals: Healthcare, Lender Finance, Mid-Corporate, Fund Finance, and Not-For-Profit Lending.
How does Dime Community Bank rank among community banks?
Dime Community Bank has a leading deposit market share among community banks on Greater Long Island, with over $14 billion in assets.
