1. DCOM received regulatory approvals for a new branch in Locust Valley. 2. The branch will be led by an experienced manager previously from First National Bank. 3. Dime Community Bank boasts over $14 billion in assets and strong market share.
FAQ
Why Bullish?
Opening a new branch usually signals business expansion and growth potential. Historical examples demonstrate branch openings often correlate with increased stock performance.
How important is it?
Branch openings represent positive growth and strategic expansion for DCOM, influencing investor decisions.
Why Short Term?
Branch openings can quickly affect market perception and investor confidence. Similar past expansions have shown immediate impacts on stock valuation.
Dime Community Bancshares Receives Regulatory Approvals for New Branch in Locust Valley
HAUPPAUGE, N.Y., Dec. 09, 2025 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (NASDAQ: DCOM), the parent company of Dime Community Bank, announced today that it has secured the necessary approvals from both the Federal Reserve Bank of New York and the New York State Department of Financial Services to establish a new branch in Locust Valley. This strategic move reflects Dime's commitment to expanding its footprint in the Greater Long Island area.
Details of the New Branch Location
The new Locust Valley branch will be situated at 85 Forest Avenue and will be led by Liz Materia, a seasoned banking professional. Liz brings valuable experience, having previously served as a branch manager at The First National Bank of Long Island, which was recently acquired by Dime Community Bancshares.
Implications for Dime Community Bancshares
This branch opening is not just about geographical growth; it enhances Dime's operational capacity and aims to increase customer engagement in the region. Dime Community Bancshares, Inc. continues to leverage its resources to meet the evolving needs of its clients.
The new branch is poised to contribute to Dime's goal of maintaining its leading position in the market. The company holds the number one deposit market share among community banks on Greater Long Island, with assets exceeding $14 billion.
About Dime Community Bancshares, Inc.
Dime Community Bancshares, Inc. is a New York State-chartered trust company. With an impressive reputation in the banking sector, it is recognized for its robust financial stability and commitment to community banking. The company prides itself on serving residents and businesses across Kings, Queens, Nassau, and Suffolk counties.
Contact Information
- Investor Relations Contact: Avinash Reddy
- Title: Senior Executive Vice President – Chief Financial Officer
- Phone: 718-782-6200; Ext. 5909
- Email: avinash.reddy@dime.com
Forward-Looking Statements
Statements included in this release that are not historical facts are considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ due to various risks and uncertainties, impacting the anticipated outcomes.