StockNews.AI
DCOM
StockNews.AI
78 days

Dime Announces Receipt of Federal Reserve and NYDFS Approvals for Lakewood, NJ Branch Location

1. DCOM received approvals for a new branch in Lakewood, NJ. 2. Branch construction expected to start in late 2025, opening in early 2026. 3. The Bank leads deposit market share among community banks in Greater Long Island. 4. Total assets exceed $14 billion, indicating substantial operational capacity. 5. Forward-looking statements include risks that may affect growth expectations.

3m saved
Insight
Article

FAQ

Why Bullish?

The addition of a new branch signals growth and potential revenue increase.

How important is it?

The approval for a new branch is significant for DCOM's growth strategy and market position.

Why Long Term?

The new branch’s opening in early 2026 provides a longer-term growth perspective.

Related Companies

WALCACCCFG
June 02, 2025 16:15 ET  | Source: Dime Community Bancshares, Inc. HAUPPAUGE, N.Y., June 02, 2025 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”), announced it has received approvals from the Federal Reserve Bank of New York and the New York State Department of Financial Services to open a branch location in Lakewood, New Jersey. The branch will be located at 500 Boulevard of the Americas, Lakewood, New Jersey, pending approval from the New Jersey Department of Banking and Insurance. As previously announced, construction of the branch is expected to start in the second half of 2025, with the branch opening planned for early 2026. ABOUT DIME COMMUNITY BANCSHARES, INC. Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over $14 billion in assets and the number one deposit market share among community banks on Greater Long Island (1). Dime Community Bancshares, Inc.Investor Relations Contact:Avinash ReddySenior Executive Vice President – Chief Financial OfficerPhone: 718-782-6200; Ext. 5909Email: avinash.reddy@dime.com ¹ Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets. FORWARD-LOOKING STATEMENTSStatements contained in this news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated.

Related News