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Dime Community Bancshares Set to Open New Branch in NJ

Dime Community Bancshares Set to Open New Branch in NJ

Dime Community Bancshares Announces New Branch Approval

HAUPPAUGE, N.Y. — Dime Community Bancshares, Inc. (NASDAQ: DCOM), the parent company of Dime Community Bank, has exciting news regarding its expansion efforts. The company recently received the green light from the New Jersey Department of Banking and Insurance to establish a new branch at a prime location on Boulevard of Americas in Lakewood, New Jersey. This development reflects Dime's commitment to growing its footprint in a strategic market.

Branch Opening Timeline

The construction of the new branch is slated to commence in the latter half of 2025. Dime expects to officially open the doors of this new location to customers in early 2026. This timeline indicates a robust plan to quickly establish the bank's presence in the region, catering to local residents and businesses.

About Dime Community Bancshares, Inc.

Dime Community Bancshares, Inc. stands strong as the holding entity for Dime Community Bank, a trustworthy New York State-chartered institution boasting over $14 billion in assets. It has proudly claimed the title of the number one deposit market share among community banks within the Greater Long Island area. This remarkable achievement underscores the bank's pivotal role in the local financial landscape.

Investor Relations Contact

Get in Touch with Dime's Investor Relations

For further inquiries regarding this development or other company-related information, interested parties can reach out to:

Avinash Reddy
Senior Executive Vice President – Chief Financial Officer
Phone: 718-782-6200; Ext. 5909
Email: avinash.reddy@dime.com

Looking Ahead

As Dime Community Bancshares forges ahead with its expansion plans, the firm continues to strive for excellence in serving its communities. The approval of the new branch is a testament to Dime's growing influence while offering diverse banking solutions tailored to meet customer needs.

Frequently Asked Questions

What is the new branch's location?

The new branch of Dime Community Bank will be located at 500 Boulevard of Americas in Lakewood, New Jersey.

When is the new branch expected to open?

Construction is anticipated to begin in the latter half of 2025, with the branch opening planned for early 2026.

Who is the contact for investor relations?

Avinash Reddy, the Senior Executive Vice President and Chief Financial Officer, is the contact for investor relations at Dime Community Bancshares.

What is the asset size of Dime Community Bank?

Dime Community Bank has over $14 billion in assets.

What distinguishes Dime Community Bancshares in the market?

Dime Community Bancshares holds the number one deposit market share among community banks in the Greater Long Island area, showcasing its significant presence.

About The Author

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The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.

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