Dime Community Bancshares, Inc. provides status update on
BROOKLYN, NY, January 12, 2021 (GLOBE NEWSWIRE) – Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or “Dime” or “its”), the parent company of Dime Community Bank (the “Bank” ), today announced an update on the status of loan deferrals within its portfolio. The company is seeing positive trends as loans continue to come out of carry.
As at December 31, 2020, principal and interest deferrals (“P&I”) have decreased to $ 37.1 million or 0.7% of the total loan portfolio. Another 3.4% of our portfolio is made up of loans that bear interest and escrow in full and only defer principal repayment.
Mr. Kenneth J. Mahon, Chief Executive Officer (“CEO”) of the Company said, “We are encouraged by the positive trends we are seeing in our loan portfolio. The decrease in our deferrals is the result of our ability to work closely with our borrowers to reach reasonable resolutions. ”
ABOUT DIME COMMUNITY BANCSHARES, INC.
The company had $ 6.62 billion in consolidated assets as of September 30, 2020. The bank was founded in 1864, is headquartered in Brooklyn, New York, and currently has 28 retail branches located in Brooklyn counties , Queens, Bronx, Nassau and Suffolk, New York. More information about the company and the bank can be found on Dime’s website at www.dime.com.
Contact Person: Avinash Reddy
Senior Executive Vice President – Chief Financial Officer
718-782-6200 ext 5909