Dime Community Bancshares Gains Key Approvals for New Branch
Dime Community Bancshares Makes Significant Progress
In an exciting development, Dime Community Bancshares, Inc. (NASDAQ: DCOM), the parent organization of Dime Community Bank, announced it has received vital approvals from regulators. This step allows them to open a new branch location, demonstrating their ongoing commitment to serving the community effectively.
New Branch Location Announced
The upcoming branch will be situated at 500 Boulevard of the Americas in Lakewood. This location is pending the final endorsement from the New Jersey Department of Banking and Insurance. The company has previously indicated that construction is anticipated to commence in the latter half of the year, with plans to welcome the first customers early in the following year.
About Dime Community Bancshares, Inc.
Dime Community Bancshares, Inc. stands as the holding entity for Dime Community Bank, a trust company chartered in New York. With more than $14 billion in assets, Dime has garnered the premier position for deposit market share among community banks across Greater Long Island. This growth solidifies Dime's reputation as a trusted financial partner within the community.
Commitment to Community and Growth
The development of this new branch signifies Dime's dedication to enhancing its services and expanding its reach within the community. The company aims to provide convenient banking solutions that cater to the needs of individuals and businesses alike.
Investor Relations Contact Information
For inquiries, Dime Community Bancshares designates Avinash Reddy as the Investor Relations contact. He serves as the Senior Executive Vice President and Chief Financial Officer. Interested parties can reach him at 718-782-6200, extension 5909, or via email at avinash.reddy@dime.com.
Frequently Asked Questions
What approvals did Dime Community Bancshares receive?
Dime received approvals from the Federal Reserve Bank of New York and the New York State Department of Financial Services for a new branch location.
Where will the new branch be located?
The new branch will be at 500 Boulevard of the Americas, Lakewood, pending final approval from state regulators.
When is the construction of the new branch expected to start?
Construction is anticipated to begin in the second half of the year.
What assets does Dime Community Bank have?
Dime Community Bank has over $14 billion in assets, making it a significant player in the community banking sector.
How can investors reach out for more information?
Investors can contact Avinash Reddy at 718-782-6200, ext. 5909, or via email at avinash.reddy@dime.com.
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