Q1 2026 Dime Community Bancshares Inc Earnings Call Transcript
Key Points
- EPS for the first quarter increased by 67% year-over-year, driven by record total core revenues of $124 million.
- Organic growth in core deposits reached $1 billion year-over-year, showcasing strong deposit growth.
- Business loans grew by approximately $575 million, representing a 21% increase year-over-year.
- The company successfully recruited strong deposit teams from Signature Bank, expected to be accretive to earnings in 2027.
- Dime Community Bancshares Inc (DCOM) plans to launch a new equipment and franchise finance vertical, enhancing its commercial bank offerings.
- The company expects a modest $2 million negative impact on the gain on sale line item in the second quarter due to the sale of certain loans.
- Loan loss provisions increased to approximately $12 million, with the allowance to loans rising to 95 basis points.
- Core cash operating expenses are projected to increase to approximately $260 million for the full year due to recent hires.
- The company is intentionally reducing its multifamily loan portfolio, which may impact overall loan growth in the short term.
- The NIM expansion is partly driven by seasonal factors, and excluding these, the run rate NIM would have been lower at 314 basis points.
Good day, and thank you for standing by. Welcome to the Dime Community Bankshares First Quarter Earnings Call.
(Operator Insstructions)
Before we begin, the company would like to remind you that discussions during this call contain forward-looking statements made under the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1,995. Such statements are subject to risks, uncertainties, and other factors that may cause actual results to differ materially from those contained in any such statements, including as set forth in today's press release and the company's filings with the U.S. Securities and Exchange Commission to which we refer you.
During this call, references will be made to non-GAAP financial measures as supplemental measures to review and assess operating performance. These non-GAAP financial measures are not intended to be considered in isolation or a substitute for the financial information prepared and presented in accordance with the U.S. GAAP. For more information about these non-GAAP financial measures. And for reconciliation to GAAP,
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
