secwatch.observer — SEC 8-K summary
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Issuer:     Dime Community Bancshares, Inc. /NY/ (DCOM)
CIK:        0000846617
Form:       8-K
Filed at:   2026-10-20T13:00:23+00:00
Accession:  0001104659-26-117199
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Dime Commercial to acquire ES Bancshares in ~$58M cash-and-stock deal at $8.39 per ES share
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- Two-step deal: ES Bancshares merges into Dime, then Empire State Bank merges into Dime Commercial Bank; valued at ~$58M, or $8.39 per ES share.
- Value based on Dime's 10-day VWAP of $38.55 and 6,886,282 ES shares; consideration capped at $30.0M cash and 720,000 Dime shares, subject to proration.
- ES CEO Philip Guarnieri gets $1,539,609 pre-close and stays as Managing Executive Director at $400,000 salary; COO Thomas Sperzel gets $1,271,181.
- Closing needs ES shareholder approval, Federal Reserve and NYDFS approvals, NYSE listing and Form S-4 effectiveness; ES termination fee is $2.363M.
- ES directors and executive officers signed voting agreements to support the merger; Guarnieri has a 6-month noncompete and 1-year non-solicit.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/846617/000110465926117199/0001104659-26-117199-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/846617/000110465926117199/tm2627821d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-117199

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