|Exchange:||NASDAQ national market|
|Stock:||Dime Community Bancshares, Inc.|
|Industry:||Savings & Cooperative Banks|
|Dime Community Bancshares, Inc. is a Delaware corporation. The Company is a unitary savings and loan holding company. It operates as a bank holding company for The Dime Savings Bank of Williamsburgh (the Bank). The Bank accepts deposits from customers and invests them primarily in multifamily residential mortgage, commercial real estate, one- to four-family residential mortgage, construction and land acquisition, and consumer loans, mortgage-backed securities (MBS), obligations of the U.S. Government and Government Sponsored Entities (GSE), and corporate debt and equity securities. Its primary sources of funds are deposits; loan amortization, prepayments and maturities; MBS amortization, prepayments and maturities; investment securities maturities and sales; advances from the Federal Home Loan Bank of New York ("FHLBNY") and borrowings in the form of securities sold under agreement to repurchase. The Bank has twenty-six retail banking offices located throughout the boroughs of Brooklyn, Queens, and the Bronx, and in Nassau County, New York. The Bank originates primarily low loan-to-value, non-recourse loans on multifamily and commercial real estate properties to limited liability companies and corporations. The majority of the Bank's lending activities consist of originating adjustable- and fixed-rate multifamily residential and commercial real estate loans. The Bank’s market area has generally provided a stable flow of new and refinanced multifamily residential and mixed-use loan originations. In order to address the credit risk associated with multifamily residential and mixed use lending, the Bank has developed underwriting standards that it believes are reliable in order to maintain consistent credit quality for its loans. The Bank also strives to provide a stable source of liquidity and earnings through the purchase of investment grade securities; seeks to maintain the asset quality of its loans and other investments; and uses appropriate portfolio and asset/liability management techniques in an effort to manage the effects of interest rate volatility on its profitability and capital.|
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