Dime Community Bancshares completes $379M securities repositioning; expects $43M pre-tax loss

Dime Community Bancshares, Inc. /NY/

Sold $379M of available-for-sale debt securities (yield 1.20%, dur 3.3 yrs) and bought $379M (yield 5.08%, dur 4.2 yrs).
Expects one-time pre-tax loss on sale of ~$43M in Q4 2024.
Began pension plan termination payments; ~$1M expense in Q4 2024, additional ~$2M in Q1 2025.
Portfolio repositioning designed to improve net interest income going forward.

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