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Sep 30, 2021
Dime Q3 2021 Earnings Report
Net income available to common stockholders increased by 160% year-over-year and non-interest-bearing deposits increased, positioning the company well for a rising interest rate scenario.
Key Takeaways
Dime Community Bancshares, Inc. reported a net income available to common stockholders of $36.6 million for Q3 2021, compared to $14.0 million for Q3 2020. The company's non-interest-bearing deposits increased to 36% of total deposits, and the core efficiency ratio was 47%.
Non-interest-bearing deposits to total deposits ratio increased to 35.8%.
Cost of deposits declined to 0.13%.
Total loans held for investment, net, excluding PPP loans increased by 4% on an annualized basis versus the linked quarter.
Company purchased 480,039 shares of its common stock, at a weighted average price of $32.15 per share.
Dime
Dime
Dime Revenue by Segment
Revenue by Segment
Other Loans Revenue
CapyFin.com Forward Guidance
The effective tax rate for the remainder of 2021 is expected to be approximately 27.5%.