Dime Community Bancshares Announces New Branch Plans
Dime Community Bancshares, Inc. (NASDAQ: DCOM), a prominent bank holding company headquartered in Hauppauge, has exciting news for its customers and the community. The company plans to open a full-service branch in Locust Valley in 2026, pending regulatory approval. This development is a part of Dime's ongoing strategy to enhance its footprint in the Greater Long Island region.
Branch Details and Personnel
The new branch will be conveniently situated at 85 Forest Avenue and is set to be led by Liz Materia, a dynamic banker with a solid reputation. Liz previously served as a branch manager at The First National Bank of Long Island, which has recently undergone a transition following its acquisition. Dime Community Bank is thrilled to welcome her and believes her expertise will contribute significantly to their expansion efforts.
Leadership Insight on Expansion
Stuart H. Lubow, who serves as the President and CEO of Dime, expressed his enthusiasm about the new branch. He stated, "We are proud to announce that the best commercial bank in Metro New York will soon have a new branch location in Locust Valley. As a long-time resident of the Town of Oyster Bay, I have deep connections within the local business community that we intend to leverage as part of our strategic expansion plans. Dime is dedicated to being the bank of choice for skilled bankers as we continue to grow our firm." His commitment to building a strong presence in the area is pivotal for Dime's future.
Market Strategies and Local Impact
Jim Manseau, the Executive Vice President and Chief Banking Officer, also shared his insights regarding the bank's recruitment strategy. He noted, "Bringing on a banker of Liz's caliber showcases Dime's capability to thrive amidst market disruptions and enhances our value proposition. Being a locally managed bank that is highly responsive with robust product offerings and technology, we aim to increase our market share on the North Shore of Long Island." These sentiments underscore the bank's vision to adapt to changing dynamics while maintaining a customer-centric approach.
About Dime Community Bancshares, Inc.
Dime Community Bancshares, Inc. operates as the holding company for Dime Community Bank. This institution is recognized as a New York State-chartered trust company, boasting over $14 billion in assets. It holds the leading deposit market share among community banks in Greater Long Island, reflecting its robust position and commitment to serving local customers.
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 location of the new Dime branch?
The new branch will be located at 85 Forest Avenue in Locust Valley.
Who will lead the Locust Valley branch?
The branch will be led by Liz Materia, a former branch manager at The First National Bank of Long Island.
What is Dime Community Bancshares' main focus with this expansion?
Dime is focused on enhancing its presence in the Greater Long Island area and providing better services to its community.
What distinguishes Dime Community Bank in its market?
Dime Community Bank is recognized for being responsive and locally managed, with a strong product offering and technology solutions.
How can I contact Dime for more information?
You can contact Avinash Reddy, Chief Financial Officer, at 718-782-6200; Ext. 5909 or email at avinash.reddy@dime.com.
