Dime Community Bancshares, Inc. Increases Quarterly Earnings per Share by 12.5% on a Linked Quarter Basis
Dime Community Bancshares, Inc. (DCOM)
Last dime community bancshares, inc. earnings: 4/28 06:00 am
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Source: GlobeNewswire
BROOKLYN, N.Y., July 25, 2019 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”), today reported net income of $13.0 million for the quarter ended June 30, 2019, or $0.36 per diluted common share, compared with net income of $11.5 million for the quarter ended March 31, 2019, or $0.32 per diluted common share, and net income of $12.3 million for the quarter ended June 30, 2018, or $0.33 per diluted common share. The increase in linked quarter earnings per share (“EPS”) was attributable to a seven basis point linked quarter increase in the net interest margin (“NIM”). Excluding the impact of prepayment related fee income, the NIM increased by two basis points on a linked quarter basis. Relationship Based Business Banking Division Drives Net Interest Margin Expansion Commenting on the linked quarter NIM expansion, Kenneth J. Mahon, President and Chief Executive Officer (“CEO”) of the C
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