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Jun 30, 2023
Dime Q2 2023 Earnings Report
Dime Community Bancshares' second quarter performance was affected by the interest rate environment and bank failures, but deposits, capital, and liquidity increased, and the company onboarded seven deposit groups.
Key Takeaways
Dime Community Bancshares reported a net income available to common stockholders of $25.7 million, or $0.66 per diluted common share, for the quarter ended June 30, 2023. Average total deposits increased by over $150 million on a linked quarter basis. The company successfully onboarded 7 deposit groups and capital ratios and asset quality continued to be strong.
Average total deposits were $10.54 billion.
Non-insured deposits represented only 28% of total deposits.
The ratio of average non-interest bearing deposits to average total deposits was 29%.
Credit quality continues to be strong with non-performing assets and loans 90 days past due and accruing declining by 12%.
Dime
Dime
Forward Guidance
Dime's forward guidance was not discussed in the earnings report.