Dime Community Bancshares Q2 EPS $0.66, down from $0.94 YoY; CEO O'Connor to step down, Lubow named successor

Dime Community Bancshares, Inc. /NY/

2023-Q2 EPS reported $1.58 revenue$8,670,000

Net income $25.7M ($0.66 diluted EPS) vs $36.7M ($0.94) in Q2 2022; adjusted EPS $0.68.
Net interest margin compressed to 2.50% from 3.29% YoY; net interest income $80.2M.
Average deposits increased $150M linked quarter to $10.54B; non-insured deposits 28% of total.
CEO Kevin O'Connor will step down Aug 31, 2023; President Stuart Lubow to become CEO.
Credit quality strong: NPAs 0.20% of assets; Tier 1 risk-based capital ratio 10.50%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Dime Community Bancshares, Inc. /NY/ reported the quarter ended June 30, 2023 results: net income net income available to common stockholders of $25.7 million for the quarter ended June 30, 2023, EPS $0.66 per diluted common share.

Period: the quarter ended June 30, 2023
Net income: net income available to common stockholders of $25.7 million for the quarter ended June 30, 2023
EPS: $0.66 per diluted common share
Result: reported results

Exact text from the filing

On July 28, 2023, Dime Community Bancshares, Inc. (the “Company”) issued a press release announcing its earnings for the quarter ended June 30, 2023.

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Source: SEC EDGAR

accession 0000846617-23-000053

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