Dime Community Bancshares, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2019
January 24, 2020 at 03:00 am IST
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Dime Community Bancshares, Inc. announced earnings results for the fourth quarter ended December 31, 2019. For the fourth quarter, the company announced net interest income was USD 39.397 million compared to USD 37.150 million a year ago. Net income was USD 6.945 million compared to USD 12.440 million a year ago. Basic earnings per share was USD 0.2 compared to USD 0.34 a year ago. Diluted earnings per share was USD 0.19 compared to USD 0.34 a year ago. For the full year, net interest income was USD 147.421 million compared to USD 146.326 million a year ago. Net income was USD 36.186 million compared to USD 51.288 million a year ago. Basic earnings per share was USD 1.01 compared to USD 1.38 a year ago.
Dime Community Bancshares, Inc. is a bank holding company. The Company is engaged in providing commercial banking and financial services through its wholly owned subsidiary, Dime Community Bank (the Bank). It is engaged in providing full-service commercial and consumer banking services, including accepting time, savings and demand deposits from the businesses, consumers, and local municipalities. It also offers the Certificate of Deposit Account Registry Service (CDARS) and Insured Cash Sweep (ICS) programs. In addition, it offers merchant credit and debit card processing, automated teller machines, cash management services, lockbox processing, online banking services, remote deposit capture, safe deposit boxes, and individual retirement accounts as well as investment services through Dime Financial Services LLC. Through its title insurance subsidiary, the Bank acts as a broker for title insurance services. It operates 60 branch locations throughout Long Island and the New York City.