Every material Form 8-K Dime Community Bancshares filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Dime Community Bancshares said director Michael P. Devine will retire from the boards of the company and Dime Community Bank, ahead of the next annual shareholder meeting, for personal reasons. The filing states there were no disagreements between Devine and the company or the bank, and the company's chairman praised his long service.
Devine informed the board on December 17, 2024, and the company announced the retirement on December 20, 2024.
Devine joined The Dime Savings Bank of Williamsburgh, a predecessor of the bank, in 1971 and previously served as President and Chief Operating Officer.
The filing states there were no disagreements between Devine and the company or the bank.
Chairman Kenneth J. Mahon said the board will miss Devine's insight and experience.
Dime Community Bancshares agreed to sell 3,906,250 shares of common stock at $32.00 per share, for gross proceeds of $125 million. The company expects net proceeds of about $117.9 million, or about $135.7 million if underwriters exercise their option in full, and plans to use them for general corporate purposes, including investments in Dime Community Bank. Issuing these shares increases the number of shares outstanding, and the offering is expected to close on or about November 13, 2024.
3,906,250 shares sold at $32.00 per share, for gross proceeds of $125 million
Expected net proceeds of approximately $117.9 million; approximately $135.7 million if the underwriters' option is fully exercised
Underwriters hold a 30-day option to buy up to 585,937 additional shares
Offering expected to close on or about November 13, 2024; Raymond James & Associates and Keefe, Bruyette & Woods are representatives of the underwriters
Dime Community Bancshares reported third-quarter 2024 net income available to common stockholders of $11.5 million, or $0.29 per diluted share, down from $16.7 million, or $0.43, in the second quarter and $13.2 million, or $0.34, a year earlier. Net interest income and the net interest margin rose, but higher credit loss provisions and non-performing loans weighed on earnings, and management expects margin expansion and a relatively flat expense base in the fourth quarter.
Net income available to common stockholders was $11.5 million, or $0.29 per diluted share, versus $0.43 in Q2 2024 and $0.34 in Q3 2023.
Net interest income rose to $79.9 million from $75.5 million in Q2 2024, and net interest margin rose to 2.50% from 2.41%.
Credit loss provision was $11.6 million versus $5.6 million in Q2 2024; non-performing loans were $49.5 million versus $24.8 million.
Management expects continued net interest margin expansion in Q4 2024 and says it expects to keep the expense base relatively flat.
Dime Community Bancshares reported second-quarter 2024 results on July 23, 2024, with net income available to common stockholders of $16.7 million, or $0.43 per diluted share, up from $0.41 in the first quarter but down from $0.66 a year earlier. Net interest margin rose to 2.41% from 2.21%, while non-interest expense increased to $55.7 million, and the company's $74.8 million subordinated notes offering helped lift its total risk-based capital ratio to 14.5%. For shareholders, the sequential earnings gain came alongside a steep year-over-year decline in profit.
Net income available to common stockholders was $16.7 million, or $0.43 per diluted share, for the quarter ended June 30, 2024, versus $15.9 million, or $0.41, in Q1 2024 and $25.7 million, or $0.66, in Q2 2023.
Net interest income was $75.5 million, up from $71.5 million in Q1 2024 but down from $80.2 million in Q2 2023; net interest margin was 2.41% versus 2.21% in Q1 2024 and 2.50% in Q2 2023.
Total non-interest expense was $55.7 million, compared with $52.5 million in Q1 2024 and $52.2 million in Q2 2023; the efficiency ratio was 63.8%.
Subordinated notes offering, including an overallotment option exercised July 9, 2024, generated total gross proceeds of $74.8 million, lifting the total risk-based capital ratio to 14.5%.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Dime Community Bancshares filing is on SEC EDGAR ↗. 8-K briefs of other companies →