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Sep 30, 2024
Dime Q3 2024 Earnings Report
Core deposit growth accelerated, driving an increase in quarterly net interest margin.
Key Takeaways
Dime Community Bancshares reported a net income available to common stockholders of $11.5 million, or $0.29 per diluted common share, for the quarter ended September 30, 2024. Strong growth in low-cost core deposits drove a significant linked quarter expansion in the Net Interest Margin.
Total deposits increased $389 million compared to the second quarter of 2024.
Core deposits (excluding brokered and time deposits) increased $505 million compared to the second quarter of 2024.
The net interest margin increased to 2.50% for the third quarter of 2024 compared to 2.41% for the prior quarter.
The allowance for credit losses to total loans increased to 0.78% at the end of the third quarter compared to 0.72% for the prior quarter.
Revenue by Segment
Forward Guidance
Dime expects to benefit from the recent 50 basis point reduction in the Federal Funds rate and anticipates continued Net Interest Margin expansion in the fourth quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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