$DCOM-P

Dime Commercial Bancshares, Inc. /NY/

CIK:0000846617|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest income:
Loans	$ 143,892	$ 145,448	$ 285,982	$ 288,153
Securities	14,518	11,353	27,306	22,676
Other short-term investments	16,840	10,749	35,362	18,586
Total interest income	175,250	167,550	348,650	329,415
Interest expense:
Deposits and escrow	52,171	60,181	104,535	118,255
Borrowed funds	7,351	8,354	15,651	16,735
Derivative cash collateral	542	918	1,027	2,115
Total interest expense	60,064	69,453	121,213	137,105
Net interest income	115,186	98,097	227,437	192,310
Provision for credit losses	13,875	9,221	26,188	18,847
Net interest income after provision for credit losses	101,311	88,876	201,249	173,463
Non-interest income:
Service charges and other fees	6,483	4,642	12,213	9,285
Title fees	187	118	329	216
Loan level derivative income	535	942	1,007	1,003
BOLI income	5,038	4,186	9,596	8,179
Gain on sale of SBA Loans	196	387	196	469
Gain on sale of residential loans	49	50	121	82
Fair value change in equity securities and loans held for sale	38	83		101
Gain on securities		149		149
Loss on sale of loans and other assets	(2,000)		(2,320)
Other	740	1,038	1,470	1,744
Total non-interest income	11,266	11,595	22,612	21,228
Non-interest expense:
Salaries and employee benefits	39,781	36,218	79,374	71,869
Severance	454	136	556	212
Occupancy and equipment	7,899	7,729	16,108	15,731
Data processing costs	5,151	4,903	10,574	9,697
Marketing	1,951	1,756	3,976	3,422
Professional services	2,325	2,097	4,234	4,213
Federal deposit insurance premiums	1,712	1,692	2,978	3,739
Net loss (gain) on extinguishment of debt for FHLB advances and subordinated debt	2		(972)
Loss due to pension settlement				7,231
Amortization of other intangible assets	195	235	404	487
Other	5,231	5,533	10,225	9,209
Total non-interest expense	64,701	60,299	127,457	125,810
Income before income taxes	47,876	40,172	96,404	68,881
Income tax expense	13,062	10,475	27,008	17,726
Net income	34,814	29,697	69,396	51,155
Preferred stock dividends	1,821	1,821	3,643	3,643
Net income available to common stockholders	$ 32,993	$ 27,876	$ 65,753	$ 47,512
Earnings per common share:
Basic (in dollars per share)	$ 0.75	$ 0.64	$ 1.49	$ 1.09
Diluted (in dollars per share)	$ 0.75	$ 0.64	$ 1.49	$ 1.09

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 69,396	$ 51,155
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on securities available-for-sale		(149)
Loss on sale of loans and other assets	2,320
Fair value change in equity securities and loans held for sale		(101)
Gain on sale of loans held for sale	(317)	(551)
Net depreciation, amortization and accretion	2,107	2,183
Amortization (accretion) of fair value hedge basis point adjustments	379	(827)
Amortization of other intangible assets	404	487
Net gain on extinguishment of debt for FHLB advances and subordinated debt	(972)
Stock-based compensation	4,330	3,675
Provision for credit losses	26,188	18,847
Originations of loans held for sale	(7,859)	(7,124)
Proceeds from sale of loans originated for sale	12,784	13,654
Increase in cash surrender value of BOLI	(8,970)	(7,783)
Gain from death benefits from BOLI	(626)	(371)
Decrease in other assets	11,873	81,248
Decrease in other liabilities	(7,011)	(65,860)
Net cash provided by operating activities	104,026	88,483
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sales of securities available-for-sale	4,000	24,837
Purchases of securities available-for-sale	(181,950)	(79,973)
Purchases of securities held-to-maturity	(103,207)	(987)
Proceeds from calls and principal repayments of securities available-for-sale	74,189	53,453
Proceeds from calls and principal repayments of securities held-to-maturity	17,029	14,796
Purchase of BOLI	(10,000)	(97,317)
Proceeds received from cash surrender value of BOLI	1,072	1,486
Loans purchased	(16,705)	(5,155)
Proceeds from the sale of portfolio loans transferred to held for sale	41,425	5,165
Decrease (increase) in loans	3,519	(7,849)
Purchases of fixed assets, net	(3,029)	(2,676)
Sales of restricted stock, net	6,030	1,996
Net cash provided (used in) by investing activities	(167,627)	(92,224)
CASH FLOWS FROM FINANCING ACTIVITIES:
(Decrease) increase in deposits	(164,109)	53,960
Repayments from FHLBNY advances, short-term, net	(75,000)	(100,000)
Repayments of FHLBNY advances, long-term	(48,000)
Repayments of other short-term borrowings, net		(50,000)
Redemption of subordinated debentures	(40,000)
Release of stock for benefit plan awards	307	483
Payments related to tax withholding for equity awards	(3,767)	(2,445)
Cash dividends paid to preferred stockholders	(3,643)	(3,643)
Cash dividends paid to common stockholders	(21,559)	(21,431)
Net cash used in financing activities	(355,771)	(123,076)
Decrease in cash and cash equivalents	(419,372)	(126,817)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	2,353,966	1,283,571
CASH AND CASH EQUIVALENTS, END OF PERIOD	1,934,594	1,156,754
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for income taxes	23,940	18,651
Cash paid for interest	122,796	137,815
Loans transferred to held for sale	47,874	23,887
Loans transferred to held for investment		21,617
Operating lease assets in exchange for operating lease liabilities	$ 1,079	$ 5,169

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets:
Cash and due from banks	$ 1,934,594	$ 2,353,966
Securities available-for-sale, at fair value	895,251	797,935
Securities held-to-maturity	706,606	618,901
Loans held for sale	1,862	1,989
Loans held for investment, net of fees and costs	10,704,373	10,758,208
Allowance for credit losses	(104,963)	(97,372)
Total loans held for investment, net	10,599,410	10,660,836
Premises and fixed assets, net	30,570	31,255
Restricted stock	61,167	67,197
Bank Owned Life Insurance ("BOLI")	417,459	401,163
Goodwill	155,797	155,797
Other intangible assets	2,534	2,938
Operating lease assets	36,830	42,876
Derivative assets	70,545	76,315
Accrued interest receivable	56,282	55,572
Other assets	74,046	74,891
Total assets	15,042,953	15,341,631
Liabilities:
Interest-bearing deposits	8,684,192	8,879,114
Non-interest-bearing deposits	3,946,965	3,915,081
Deposits (excluding mortgage escrow deposits)	12,631,157	12,794,195
Non-interest-bearing mortgage escrow deposits	45,980	47,051
Total mortgage escrow deposits	45,980	47,051
Total deposits (including mortgage escrow deposits)	12,677,137	12,841,246
Federal Home Loan Bank of New York ("FHLBNY") advances	385,000	508,000
Subordinated debt, net	231,186	272,503
Derivative cash collateral	61,790	52,400
Operating lease liabilities	39,626	45,729
Derivative liabilities	69,631	73,573
Other liabilities	58,127	72,411
Total liabilities	13,522,497	13,865,862
Commitments and contingencies
Stockholders' equity:
Preferred stock, Series A ($0.01 par, $25.00 liquidation value, 10,000,000 shares authorized and 5,299,200 shares issued and outstanding at June 30, 2026 and December 31, 2025)	116,569	116,569
Common stock ($0.01 par, 80,000,000 shares authorized, 46,154,333 and 46,151,302 shares issued at June 30, 2026 and December 31, 2025 respectively, and 44,158,358 shares and 43,862,327 shares outstanding at June 30, 2026 and December 31, 2025, respectively)	462	462
Additional paid-in capital	622,636	623,041
Retained earnings	898,089	854,167
Accumulated other comprehensive loss, net of deferred taxes	(31,573)	(31,468)
Unearned equity awards	(17,590)	(8,661)
Treasury stock, at cost (1,995,975 shares and 2,288,975 shares at June 30, 2026 and December 31, 2025, respectively)	(68,137)	(78,341)
Total stockholders' equity	1,520,456	1,475,769
Total liabilities and stockholders' equity	$ 15,042,953	$ 15,341,631