Dime Community reports Q4 adjusted EPS 39c, consensus 47c

Reports Q4 adjusted NIM 2.29% vs 3.15% last year. Stuart Lubow, President and Chief Executive Officer, CEO, of the Company, stated, “Our fourth quarter results were marked by a continued stabilization in our non-interest-bearing deposit base, a continued reduction in the pace of net interest margin compression, a steady build-up in our capital ratios and stable asset quality. As we close the book on 2023, we are pleased with the initial results of a number of initiatives that we undertook during the year. Specifically, we built out our Private and Commercial Bank via the hiring of several productive groups, we added a new Healthcare lending vertical that will help diversify our asset base over time and we upgraded numerous areas of our technology and treasury management capabilities. I would like to thank all of our employees for contributing to these achievements and look forward to continuing to grow our franchise. As we look forward to 2024, we have strategically positioned our balance sheet to benefit from projected Federal Reserve rate cuts.”