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Dec 31, 2023
Dime Q4 2023 Earnings Report
Dime Community Bancshares' Q4 2023 results reflected stabilization in the non-interest-bearing deposit base, a slowdown in net interest margin compression, growth in capital ratios, and stable asset quality.
Key Takeaways
Dime Community Bancshares reported a net income available to common stockholders of $14.5 million, or $0.37 per diluted common share, for the quarter ended December 31, 2023. The results included $1.0 million of pre-tax expense related to the FDIC special assessment.
Total deposits increased by $276 million year-over-year.
Average non-interest-bearing deposits to average total deposits was 29% for the fourth quarter.
The pace of NIM compression continued to slow.
Loan originations increased to $195.9 million for the fourth quarter of 2023.
Dime
Dime
Forward Guidance
Dime Community Bancshares has strategically positioned its balance sheet to benefit from projected Federal Reserve rate cuts in 2024.