Dime Community Bancshares, Inc. reported a significant increase in its financial performance for the third quarter of 2025, with net income rising to $27.7 million, compared to $13.3 million in the same period last year. This growth was driven by a $23.5 million increase in net interest income, which reached $103.4 million, and a $4.6 million rise in non-interest income, totaling $12.2 million. The company's diluted earnings per share also improved to $0.59 from $0.29 in the prior year. For the nine months ended September 30, 2025, net income was $78.8 million, up from $49.5 million in 2024.
The company's total assets increased to $14.54 billion as of September 30, 2025, reflecting a $185.7 million rise from the end of 2024. This growth was primarily attributed to a $431.5 million increase in cash and due from banks and a $106.2 million rise in bank-owned life insurance (BOLI). However, the loan portfolio saw a decrease of $151.6 million, which was partially offset by a $375.5 million increase in total deposits. The allowance for credit losses also rose to $94.1 million, representing 0.88% of total loans, compared to 0.78% at the end of 2024.
Strategically, Dime Community Bancshares has been focusing on enhancing its product offerings and expanding its geographic footprint. The company operates 62 branch locations across Long Island and New York City, and it has received regulatory approval to open a new branch in Lakewood, New Jersey. The bank's loan originations, excluding new lines, totaled $475.8 million for the nine months ended September 30, 2025, indicating a strong demand for its lending services.
Operationally, the bank's non-performing loans increased to $72.1 million, or 0.67% of total loans, up from $49.5 million, or 0.45%, at the end of 2024. The provision for credit losses for the nine months ended September 30, 2025, was $32.1 million, compared to $22.4 million in the same period last year. The bank continues to monitor its credit quality closely, with a focus on managing risks associated with its concentrated lending in non-owner occupied commercial real estate and multifamily residential loans.
Looking ahead, Dime Community Bancshares remains optimistic about its growth trajectory, supported by its strong capital ratios and liquidity position. The company is well-capitalized, with a Tier 1 common equity ratio of 14.5% and a total risk-based capital ratio of 15.4% as of September 30, 2025. Management is committed to maintaining its strategic focus on community banking while navigating the challenges posed by market conditions and regulatory requirements.
About Dime Community Bancshares, Inc. /NY/
Dime Community Bancshares, Inc. is a regional bank providing commercial and consumer banking services, including loans, deposits, mortgage-backed securities, and investment products. Its primary markets are Long Island and New York City, serving small to medium-sized businesses, municipalities, and individuals. The company emphasizes community relationships, regulatory compliance, and diversified financial offerings to deliver value and stability.
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