Dime Community Bancshares Q2 EPS $0.43, up 5% QoQ; NIM expands to 2.41%

Dime Community Bancshares, Inc. /NY/

2024-Q2 EPS reported $0.84 revenue$8,516,000

Net income available to common of $16.7M ($0.43 diluted) vs $0.41 in Q1 and $0.66 year ago.
Net interest margin (NIM) expanded 20 bps to 2.41% QoQ, aided by $1.3M interest recovery from non-accrual loan.
Core deposits (ex-brokered/time) grew $302M; business loans increased over $200M in the quarter.
Completed subordinated debt offering raising $65M (gross), increasing Total Risk-Based Capital Ratio to 14.5%.
Non-performing assets and loans 90+ days past due declined 29% vs prior quarter, representing 0.18% of total assets.

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