Dime Community Bancshares, Inc., a New York corporation, is a bank holding company engaged in commercial banking and financial services through its wholly owned subsidiary, Dime Community Bank (Dime). Headquartered in Hauppauge, NY, the Bank has over 60 branches spanning Montauk to Manhattan. Dime provides deposit and loan products and financial services to local businesses, consumers and municipalities. Title insurance services are offered through Dime’s wholly owned subsidiary, Bridge Abstract. Bridge Financial Services Inc., a wholly owned subsidiary of Dime, offers financial planning and investment consultation.
Company profile
Ticker
DCOM, DCOMP
Exchange
Website
CEO
Kevin M. O'Connor
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
Former names
BRIDGE BANCORP INC, BRIDGE BANCORP, INC.
SEC CIK
Corporate docs
Subsidiaries
195 Havemeyer Corp. • Boulevard Funding Corp. • Bridge Abstract LLC • Dime Financial Services, Inc. • Dime Community, Inc. • Dime Insurance Agency Inc. • Dime Reinvestment Corporation • DSB Holdings ...
IRS number
112934195
DCOM stock data
Calendar
9 May 22
26 Jun 22
31 Dec 22
Financial summary
| Quarter (USD) | Mar 22 | Dec 21 | Sep 21 | Jun 21 | |
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| Diluted EPS |
| Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
| Operating income | |||||
| Operating margin | |||||
| Net income | |||||
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| Cash on hand | |||||
| Change in cash | |||||
| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 432.99M | 432.99M | 432.99M | 432.99M | 432.99M | 432.99M |
| Cash burn (monthly) | (no burn) | 20.31M | (no burn) | (no burn) | (no burn) | (no burn) |
| Cash used (since last report) | n/a | 58.38M | n/a | n/a | n/a | n/a |
| Cash remaining | n/a | 374.62M | n/a | n/a | n/a | n/a |
| Runway (months of cash) | n/a | 18.4 | n/a | n/a | n/a | n/a |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 8 Jun 22 | Basswood Capital Management, L.L.C. | Common Stock, par value $0.01 per share ("Common Stock") | Sell | Dispose S | Yes | No | 30.54 | 26,201 | 800.18K | 2,005,597 |
| 7 Jun 22 | Basswood Capital Management, L.L.C. | Common Stock | Sell | Dispose S | Yes | No | 31.12 | 20,000 | 622.4K | 2,031,798 |
| 6 Jun 22 | Basswood Capital Management, L.L.C. | Common Stock | Sell | Dispose S | Yes | No | 31.09 | 20,000 | 621.8K | 2,051,798 |
| 3 Jun 22 | Basswood Capital Management, L.L.C. | Common Stock, par value $0.01 per share ("Common Stock") | Sell | Dispose S | Yes | No | 31.44 | 45,094 | 1.42M | 2,071,798 |
| 19 May 22 | Basswood Capital Management, L.L.C. | Common Stock | Sell | Dispose S | Yes | No | 28.93 | 221 | 6.39K | 438,140 |
| 19 May 22 | Basswood Capital Management, L.L.C. | Common Stock | Sell | Dispose S | Yes | No | 28.93 | 377 | 10.91K | 69,168 |
| 19 May 22 | Basswood Capital Management, L.L.C. | Common Stock | Sell | Dispose S | Yes | No | 28.93 | 564 | 16.32K | 150,399 |
| 19 May 22 | Basswood Capital Management, L.L.C. | Common Stock, par value $0.01 per share ("Common Stock") | Sell | Dispose S | Yes | No | 28.93 | 8,838 | 255.68K | 2,116,892 |
| 18 May 22 | Basswood Capital Management, L.L.C. | Common Stock | Sell | Dispose S | Yes | No | 29.25 | 554 | 16.2K | 438,361 |
| 18 May 22 | Basswood Capital Management, L.L.C. | Common Stock | Sell | Dispose S | Yes | No | 29.25 | 942 | 27.55K | 69,545 |
Institutional ownership, Q1 2022
73.6% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 163 |
| Opened positions | 20 |
| Closed positions | 15 |
| Increased positions | 42 |
| Reduced positions | 63 |
| 13F shares | Current |
|---|---|
| Total value | 2.09B |
| Total shares | 28.88M |
| Total puts | 0 |
| Total calls | 0 |
| Total put/call ratio | – |
| Largest owners | Shares | Value |
|---|---|---|
| BLK Blackrock | 5.41M | $186.94M |
| Basswood Capital Management, L.L.C. | 3.4M | $117.38M |
| TROW T. Rowe Price | 3.2M | $110.78M |
| Dimensional Fund Advisors | 2.45M | $84.54M |
| Vanguard | 2.17M | $74.93M |
| STT State Street | 1.48M | $51.05M |
| William Blair Investment Management | 1.24M | $42.73M |
| Systematic Financial Management | 701.75K | $24.26M |
| Geode Capital Management | 626.28K | $21.65M |
| Polaris Capital Management | 594.88K | $20.57M |
Financial report summary
?Risks
- The concentration of our loan portfolio in loans secured by commercial, multi-family and residential real estate properties located in Greater Long Island and Manhattan could materially adversely affect our financial condition and results of operations if general economic conditions or real estate values in this area decline.
- If our regulators impose limitations on our commercial real estate lending activities, earnings could be adversely affected.
- Increases to the allowance for credit losses may cause our earnings to decrease.
- We are subject to the CRA and fair lending laws, and failure to comply with these laws could lead to material penalties.
- Changes in interest rates could affect our profitability.
- We operate in a highly regulated environment, Federal and state regulators periodically examine our business, and we may be required to remediate adverse examination findings.
- We face a risk of noncompliance and enforcement action with the federal Bank Secrecy Act (the “BSA”) and other anti-money laundering and counter terrorist financing statutes and regulations.
- The subordinated debentures that we issued have rights that are senior to those of our common shareholders.
- Strong competition within our market area may limit our growth and profitability.
- Our future success depends on the success and growth of Dime Community Bank.
- The loss of key personnel could impair our future success.
- Our business may be adversely affected by fraud and other financial crimes.
- Risks associated with system failures, interruptions, or breaches of security could negatively affect our operations and earnings.
- We are exposed to cyber-security risks, including denial of service, hacking, and identity theft.
- Severe weather, acts of terrorism and other external events could impact our ability to conduct business.
- If we determine our goodwill or other intangible assets to be impaired, the Company’s financial condition and results of operations would be negatively affected.
Content analysis
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| Legalese | ||
| Litigous | ||
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H.S. sophomore Bad
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New words:
adhere, automatically, behavior, calendar, Codification, COVID, curve, depth, drawn, employment, enrolled, examination, exceed, firm, Fitch, flat, formula, froze, frozen, fulfill, grandfathered, imminent, incorrect, insufficient, judgement, judgment, key, Kroll, labor, lag, layer, lead, mask, Moody, multiple, noncontributory, payout, percent, permitted, Poor, prospectively, prove, range, reassessed, recession, reclassification, recover, reform, regional, regression, reimburse, reimbursement, revising, scope, settlement, Smaller, SOFR, Statistical, statutory, stressing, submit, Subtopic, supply, system, taxation, temporary, transition, Vintage, widespread
Removed:
accelerate, accrue, acquire, acquiring, ADC, adequately, adjust, advance, affecting, AFS, aging, Agricultural, airline, allocate, allocation, alternative, appraiser, approximate, arrangement, aspect, assumption, attributable, auto, balloon, blanket, brokered, cancellable, capitalization, certified, collecting, condominium, confirmed, consist, consisted, construction, cooperative, CRE, credited, deducted, deductible, deferring, depreciated, detail, development, discrete, discretionary, disposal, disproportionately, distribution, domestic, driven, emerge, energy, environmental, ESOP, estimation, exclusive, exemption, exist, expertise, extinguished, financing, footage, forma, generated, generation, geography, guide, high, Historically, hotel, housing, hypothetical, hypothetically, illiquidity, immateriality, Industrial, infusion, insignificant, installment, inventory, investing, investor, knowledge, land, largely, leveraged, licensed, lien, lifted, likelihood, limited, location, mark, measuring, mix, monitoring, negatively, occupied, occupying, OTTI, outlined, owed, performed, preliminary, pro, qualified, recording, recourse, Rent, request, reversal, reversed, revolving, satisfy, settle, significance, situation, speaking, square, Stabilization, strength, successful, Supplemental, ultimate, uncollectible, unconditionally, undergo, understanding, unemployment, unprecedented, unsecured, updating, vacancy, variability, verified, vulnerable, weak, whichever
Financial reports
Current reports
8-K
Regulation FD Disclosure
1 Jun 22
8-K
Submission of Matters to a Vote of Security Holders
27 May 22
8-K
Other Events
26 May 22
8-K
Regulation FD Disclosure
26 May 22
8-K
ANNOUNCES COMPLETION of Subordinated Notes Offering
6 May 22
8-K
ANNOUNCES Pricing of Subordinated Notes Offering
4 May 22
8-K
Non-Interest-Bearing Deposits Increase to 38% of Total Deposits Positioning the Company Well for a Rising Interest Rate Scenario
29 Apr 22
8-K
Dime Community Bancshares Declares Quarterly Cash Dividend for Series A Preferred Stock
28 Apr 22
8-K
Dime Community Bancshares Declares Quarterly Cash Dividend for
31 Mar 22
8-K
Regulation FD Disclosure
28 Feb 22
Registration and prospectus
424B5
Prospectus supplement for primary offering
5 May 22
424B5
Prospectus supplement for primary offering
4 May 22
FWP
Free writing prospectus
3 May 22
FWP
Free writing prospectus
3 May 22
424B5
Prospectus supplement for primary offering
3 May 22
S-3ASR
Automatic shelf registration
20 Apr 22
S-8
Registration of securities for employees
21 Jun 21
S-8
Registration of securities for employees
23 Feb 21
8-A12B
Registration of securities on exchange
1 Feb 21
425
Business combination disclosure
16 Nov 20
Other
CERT
Certification of approval for exchange listing
1 Feb 21
EFFECT
Notice of effectiveness
19 Oct 20
EFFECT
Notice of effectiveness
10 Apr 19
CORRESP
Correspondence with SEC
4 Apr 19
UPLOAD
Letter from SEC
17 Mar 19
EFFECT
Notice of effectiveness
21 Apr 16
CORRESP
Correspondence with SEC
19 Apr 16
CORRESP
Correspondence with SEC
17 Apr 16
UPLOAD
Letter from SEC
7 Apr 16
EFFECT
Notice of effectiveness
30 Mar 15
Ownership
4
Dime Community Bancshares / BENNETT D LINDENBAUM ownership change
10 Jun 22
4
Dime Community Bancshares / BENNETT D LINDENBAUM ownership change
7 Jun 22
4
Dime Community Bancshares / CAPITAL MANAGEMENT, L.L.C. BASSWOOD ownership change
23 May 22
SC 13D/A
Dime Community Bancshares / BASSWOOD CAPITAL MANAGEMENT, L.L.C. ownership change
20 May 22
4
Dime Community Bancshares / CAPITAL MANAGEMENT, L.L.C. BASSWOOD ownership change
18 May 22
4
Dime Community Bancshares / CAPITAL MANAGEMENT, L.L.C. BASSWOOD ownership change
13 May 22
4
Dime Community Bancshares / BENNETT D LINDENBAUM ownership change
5 Apr 22
4
Dime Community Bancshares / Rosemarie Chen ownership change
5 Apr 22
4
Dime Community Bancshares / KEVIN STEIN ownership change
5 Apr 22
4
Dime Community Bancshares / Joseph Perry ownership change
5 Apr 22
Transcripts
2020 Q3
Earnings call transcript
1 Nov 20
2020 Q3
Earnings call transcript
1 Nov 20
2020 Q3
Earnings call transcript
1 Nov 20
2020 Q2
Earnings call transcript
2 Aug 20
2020 Q2
Earnings call transcript
1 Aug 20
2020 Q1
Earnings call transcript
2 May 20
2019 Q4
Earnings call transcript
30 Jan 20
2019 Q3
Earnings call transcript
25 Oct 19
2019 Q2
Earnings call transcript
24 Jul 19
2019 Q1
Earnings call transcript
24 Apr 19