Bank holding company providing banking and financial services through its subsidiary, Dime Community Bank.
Dime Community Bancshares, Inc. serves as the holding company for Dime Community Bank, a key player in providing diverse commercial banking and financial services. Established in 1910 and headquartered in Hauppauge, New York, the bank caters to a broad spectrum of clients, including businesses, consumers, and local municipalities.
The core services offered by Dime Community Bank encompass a comprehensive range of banking solutions. These include accepting various types of deposits such as time deposits, savings accounts, and demand deposits. The bank is also heavily involved in lending activities, offering commercial real estate loans, multi-family mortgage loans, residential mortgage loans, secured and unsecured commercial and consumer loans, home equity loans, and construction and land loans to meet the financing needs of its clientele.
In addition to its lending and deposit-taking operations, Dime Community Bancshares engages in strategic investment activities. The bank invests in a diversified portfolio that includes mortgage-backed securities issued by entities like Federal Home Loan Bank, Federal National Mortgage Association (Fannie Mae), Government National Mortgage Association (Ginnie Mae), and Federal Home Loan Mortgage Corporation (Freddie Mac). It also invests in U.S. Treasury securities, municipal obligations of New York state and local governments, securities issued by U.S. government-sponsored enterprises, and corporate bonds. Moreover, the bank offers a suite of financial services such as certificate of deposit account registry services, insured cash sweep programs, merchant credit and debit card processing, online banking, and investment products through a third-party broker dealer.
With a network of 60 branch locations spread across Long Island and the New York City boroughs of Brooklyn, Queens, Manhattan, and the Bronx, Dime Community Bancshares continues to uphold its century-old commitment to delivering reliable banking solutions and personalized service to its customers throughout the region.