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Dec 31, 2022
Dime Q4 2022 Earnings Report
Dime Community Bancshares reported strong Q4 2022 results, with earnings per share increasing by 19% year-over-year.
Key Takeaways
Dime Community Bancshares reported a net income available to common stockholders of $38.2 million, or $0.99 per diluted common share, for the quarter ended December 31, 2022. Loan growth and strong non-interest income drove the positive results, while the company maintained prudent expense management and improved credit quality.
Total loans held for investment, net, increased by $450 million or 18% on an annualized basis versus the linked quarter.
Total business loan balances increased by $215 million or 43% on an annualized basis versus the linked quarter.
Non-interest income increased to $9.5 million during the fourth quarter of 2022, driven by customer-related loan swap revenue and SBA gain on sale revenue.
Credit quality continues to be strong with non-performing assets and loans 90 days past due and accruing declining by 22% versus the linked quarter and representing only 0.26% of total assets as of December 31, 2022.
Revenue by Segment
Forward Guidance
The Company did not provide specific forward guidance in this earnings report.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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