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Mar 31, 2024
Dime Q1 2024 Earnings Report
Reported an increase in earnings per share by 11% compared to the prior quarter, alongside core deposit growth of 19% annualized versus year end.
Key Takeaways
Dime Community Bancshares reported a net income available to common stockholders of $15.9 million, or $0.41 per diluted common share, for the quarter ended March 31, 2024. The company experienced core deposit growth and reduced its FHLB borrowing position by 41% versus year-end levels.
Core deposits increased $421 million versus year-end levels.
The ratio of average non-interest-bearing deposits to average total deposits was 27%.
Non-interest expenses declined by 3% versus the linked quarter.
Credit quality remained stable with non-performing assets and loans 90 days past due representing 0.26% of total assets.
Dime
Dime
Forward Guidance
No specific forward guidance was provided in the text.