Dime Receives “Outstanding” Rating on Community Reinvestment Act Exam from Federal Reserve Bank of New York
Dime Community Bancshares, Inc. (DCOM)
Last dime community bancshares, inc. earnings: 4/28 06:00 am
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Source: GlobeNewswire
HAUPPAUGE, N.Y., Jan. 02, 2025 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company”), the parent company of Dime Community Bank (the “Bank” or “Dime”) announced today that Dime recently received an overall “Outstanding” Community Reinvestment Act (“CRA”) rating from the Federal Reserve Bank of New York (“FRBNY”). The CRA encourages banks to help meet the credit needs of the communities in which they operate, including Low-to-Moderate Income (“LMI”) neighborhoods. Dime received an “Outstanding”, which is the highest possible rating, across all three components of the CRA evaluation, including the Lending Test, Investment Test, and Service Test. The FRBNY referenced multiple achievements in its CRA evaluation of the Bank. Select highlights include: Dime was a leader in making community development loans and has made use of innovative and flexible lending practices to meet credit needs within Dime’s assessment area.Dime had an excellent level of qualified
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