Dime Community Bancshares, Inc. Provides Update on Investment Portfolio Repositioning and Pension Termination
Dime Community Bancshares, Inc. (DCOM)
Last dime community bancshares, inc. earnings: 4/28 06:00 am
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US:NASDAQ Investor Relations:
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Source: GlobeNewswire
HAUPPAUGE, N.Y., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”), today announced the completion of a repositioning of its available-for-sale investment securities portfolio. During the fourth quarter: The Company executed the sale of $379 million of lower-yielding available-for-sale debt securities. The securities sold had a weighted average yield of 1.20% and a weighted average duration of 3.3 years.The Company purchased $379 million of debt securities. The securities purchased had a weighted average yield of 5.08% and a weighted average duration of 4.2 years. The Company expects to recognize a one-time pre-tax loss on sale of securities of approximately $43 million in the quarter ending December 31, 2024. The Company also began the distribution of payments to eligible participants of a legacy pension plan, that its Board of Directors had approved for termination.
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- Dime Community Bancshares, Inc. Announces Retirement of Michael P. Devine from Board of DirectorsGlobeNewswire
- Dime Community Bancshares declares $0.25 dividend [Seeking Alpha]Seeking Alpha
- Dime Community Bancshares Declares Quarterly Cash Dividend for Common StockGlobeNewswire
- Dime in NY takes $43 million hit to unload underperforming securities [Yahoo! Finance]Yahoo! Finance
- Dime Community Bancshares, Inc. (NASDAQ: DCOM) had its price target raised by analysts at Keefe, Bruyette & Woods from $38.00 to $42.00. They now have an "outperform" rating on the stock.MarketBeat