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Dec 31, 2021
Dime Q4 2021 Earnings Report
Net income available to common stockholders increased and loan originations grew, positioning the company favorably for rising interest rates.
Key Takeaways
Dime Community Bancshares reported a strong fourth quarter, with net income available to common stockholders increasing significantly year-over-year. Loan originations grew, and the company's balance sheet is well-positioned for a rising interest rate environment.
Net income available to common stockholders was $33.5 million, or $0.83 per diluted common share, compared to $3.3 million, or $0.16 per diluted common share, for the quarter ended December 31, 2020.
Loan originations increased to $505 million, representing a linked quarter increase of approximately 9%.
The non-interest-bearing deposits to total deposits ratio increased to 37.5% at December 31, 2021.
The reported efficiency ratio for the fourth quarter of 2021 was 49.9%, and the adjusted efficiency ratio was 48.2%.
Dime
Dime
Forward Guidance
The company did not provide specific forward guidance in the provided document.