Dime Bank's Q1 2025: Solid Earnings, Growth Momentum

Dime Community Banks Q1 2025 earnings showcase robust growth, with core deposits surging by $1.3 billion YOY, thanks to new teams building portfolios to $1.9 billion. They reduced brokered deposits and FHLB borrowing, lowering deposit costs to 2.09%. Net interest margin climbed to the 2.9% range for the fourth consecutive quarter, with business loans growing $60 million this quarter and $400 million YOY. New hires, like Tom Geisel from Sterling, aim to boost both loans and deposits. Core pre-tax income hit $46 million, up from $28 million last year, pushing return on assets to 77 basis points. Adjusted earnings per share came in at $0.57, a 36% QoQ and 50% YOY gain. Analysts praise the momentum, with management emphasizing disciplined growth and low charge-offs at 26 basis points. Strong capital ratios, like 11.1% common equity tier one, set them apart from peers, offering room to capitalize on market disruption. Guidance points to net interest margin holding around 2.90% plus or minus 3 basis points in Q2, with flat loans then pickup later from new teams and a massive repricing wave. Expenses ticked up slightly to $236.5 to $237.5 million for the year due to hires. Expansion into Lakewood, New Jersey, taps rich deposit and loan potential tied to Brooklyn clients, with rational pricing and surgical team adds keeping costs in check. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/d5c91c27fafdb268