EX-99.1 2 dcom-20251023xex99d1.htm EX-99.1

Page 1

Exhibit 99.1

Dime Community Bancshares, Inc. Reports 103% Year-Over-Year Increase in Earnings Per Share

Quarterly Net Interest Margin Surpasses 3% And Is Anticipated to Increase Further in the Fourth Quarter

Continued Strong Growth in Core Deposits and Business Loans

Hauppauge, NY, October 23, 2025 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”), today reported net income available to common stockholders of $25.8 million for the quarter ended September 30, 2025, or $0.59 per diluted common share, compared to $27.9 million, or $0.64 per diluted common share, for the quarter ended June 30, 2025 and net income available to common stockholders of $11.5 million, or $0.29 per diluted common share, for the quarter ended September 30, 2024.

Adjusted net income available to common stockholders (non-GAAP) totaled $26.6 million (see “Non-GAAP Reconciliation” tables at the end of this news release) and adjusted EPS (non-GAAP) totaled $0.61 per share for the quarter ended September 30, 2025. Adjusted net income available to common stockholders totaled $11.5 million and adjusted EPS totaled $0.29 per share for the quarter ended September 30, 2024.

Stuart H. Lubow, President and Chief Executive Officer (“CEO”) of the Company, stated, “Third quarter results were marked by strong growth in core deposits and business loans, good progress in diversifying our balance sheet, and continued net interest margin expansion. Our earnings power continues to increase as demonstrated by third quarter pre-tax pre-provision net revenue of $53.4 million, an increase of 8% versus the prior quarter and an increase of 79% versus the quarter ended September 30, 2024. Finally, we continue to execute on our growth plan and take advantage of the target-rich environment to hire talented individuals.”

Third Quarter Recruiting and Expansion Update

●

New hires in commercial lending included the following Senior Vice Presidents: Ryan Kent (Director of Commercial Strategic Initiatives; previously with Webster Bank), Elvis Grgurovic (Co-Head of Mid Corporate; previously with Webster Bank), Eric Pelletier (Head of Syndications; previously with Webster Bank), Matt Greene (Mid-Corporate and Specialty Finance vertical; previously with Webster Bank) and Barry Renow (Mid-Corporate and Specialty Finance Vertical; previously with BHI USA).

●

New hires in branch network included the following branch managers: Lisa Reardon (previously with First National Bank of Long Island) and Liz Materia (previously with First National Bank of Long Island).

●

Successfully opened a new branch location on Madison Avenue in Manhattan, and expect to open additional locations in Lakewood, NJ and the North Shore of Long Island in early 2026.

Highlights for the Third Quarter of 2025 included:

●

Total deposits increased $644.3 million on a year-over-year basis;

●

Core deposits (excluding brokered and time deposits) increased $971.9 million on a year-over-year basis;

●

Average non-interest-bearing deposits to average total deposits for the third quarter increased to 29.9% compared to 29.6% for the prior quarter;

●

The loan to deposit ratio declined to 88.9% at the end of the third quarter compared to 92.6% for the prior quarter;

●

Business loans grew $160.5 million on a linked quarter basis and $409.1 million on a year-over-year basis;

●

The net interest margin increased to 3.01% for the third quarter of 2025 compared to 2.98% for the prior quarter;

●

The efficiency ratio decreased to 53.8% for the third quarter of 2025 compared to 55.0% for the prior quarter; and

●

The Company’s Common Equity Tier 1 Ratio increased to 11.53% at the end of the third quarter.

Page 2

Management’s Discussion of Quarterly Operating Results

Net Interest Income

Net interest income for the third quarter of 2025 was $103.4 million compared to $98.1 million for the second quarter of 2025 and $79.9 million for the third quarter of 2024. The Net Interest Margin for the third quarter of 2025 was 3.01% compared to 2.98% for the second quarter of 2025 and 2.50% for the third quarter of 2024.

Mr. Lubow commented, “Since the Federal Reserve rate cut in mid-September, the spread between the weighted average rate on loans and deposits has improved by approximately 10 basis points. We anticipate the full quarter impact of this spread improvement to drive continued NIM expansion in the fourth quarter. Additionally, we continue to have a significant loan repricing opportunity that will continue through 2027. Finally, core deposit growth and a continued focus on business loan growth will benefit our NIM over time as we continue to grow customers and hire productive bankers.”

Loan Portfolio

The ending weighted average rate (“WAR”) on the total loan portfolio was 5.37% at September 30, 2025, a 3 basis point increase compared to the ending WAR of 5.34% on the total loan portfolio at June 30, 2025.

Outlined below are loan balances and WARs for the quarter ended as indicated.


	September 30, 2025				June 30, 2025				September 30, 2024
(Dollars in thousands)	Balance		WAR⁽¹⁾		Balance		WAR⁽¹⁾		Balance		WAR⁽¹⁾
Loans held for investment balances at period end:
Business loans ⁽²⁾	$	3,062,674	6.60	%	$	2,902,170	6.66	%	$	2,653,624	6.82	%
One-to-four family residential and coop/condo apartment		1,030,949	4.92			998,677	4.85			934,209	4.65
Multifamily residential and residential mixed-use ⁽³⁾⁽⁴⁾		3,509,811	4.52			3,693,481	4.48			3,866,931	4.60
Non-owner-occupied commercial real estate		2,975,474	5.13			3,128,453	5.12			3,281,923	5.25
Acquisition, development, and construction		139,145	8.04			141,755	8.28			149,299	8.46
Other loans		7,621	11.14			6,336	11.08			6,058	10.71
Loans held for investment	$	10,725,674	5.37	%	$	10,870,872	5.34	%	$	10,892,044	5.40	%

⁽¹⁾ WAR is calculated by aggregating interest based on the current loan rate from each loan in the category, adjusted for non-accrual loans, divided by the total balance of loans in the category.

⁽²⁾ Business loans include commercial and industrial loans and owner-occupied commercial real estate loans.

⁽³⁾ Includes loans underlying multifamily cooperatives.

⁽⁴⁾ While the loans within this category are often considered "commercial real estate" in nature, multifamily and loans underlying cooperatives are reported separately from commercial real estate loans in order to emphasize the residential nature of the collateral underlying this significant component of the total loan portfolio.

Outlined below are the loan originations, for the quarter ended as indicated.


(Dollars in millions)	Q3 2025		Q2 2025		Q3 2024
Originations Excluding New Lines of Credit	$	170.6	$	227.3	$	119.0
Originations Including New Lines of Credit		535.6		450.5		314.5

Deposits and Borrowed Funds

Period end total deposits (including mortgage escrow deposits) at September 30, 2025 were $12.06 billion, compared to $11.74 billion at June 30, 2025 and $11.42 billion at September 30, 2024.

Brokered deposits were $200.0 million at September 30, 2025, compared to $200.0 million at June 30, 2025 and $662.2 million at September 30, 2024. Total Federal Home Loan Bank advances were $508.0 million at September 30, 2025, compared to $508.0 million at June 30, 2025 and $508.0 million at September 30, 2024.

Non-Interest Income

Non-interest income was $12.2 million during the third quarter of 2025, $11.6 million during the second quarter of 2025, and $7.6 million during the third quarter of 2024.

Page 3

Non-Interest Expense

Total non-interest expense was $62.2 million during the third quarter of 2025, $60.3 million during the second quarter of 2025, and $57.7 million during the third quarter of 2024. Excluding the impact of the loss on extinguishment of debt, amortization of other intangible assets, severance expense and settlement loss related to the termination of a legacy pension plan, adjusted non-interest expense was $62.0 million during the third quarter of 2025, $59.9 million during the second quarter of 2025, and $57.4 million during the third quarter of 2024 (see “Non-GAAP Reconciliation” tables at the end of this news release).

Mr. Lubow commented, “As we have communicated previously, the increase in non-interest expense has been due to significant hires the Company has made as we execute on our growth plan, which is centered around growing core deposits, diversifying our loan portfolio and selectively adding new geographies. In the third quarter of 2025, we continued to grow our commercial banking businesses and branch network and we expect these initiatives to contribute to revenue growth in the years ahead.”

The ratio of non-interest expense to average assets was 1.73% during the third quarter of 2025, compared to 1.72% during the linked quarter and 1.71% during the third quarter of 2024. Excluding the impact of the loss on extinguishment of debt, amortization of other intangible assets, severance expense and settlement loss related to the termination of a legacy pension plan, the ratio of adjusted non-interest expense to average assets was 1.72% during the third quarter of 2025, 1.71% during the second quarter of 2025, and 1.70% during the third quarter of 2024 (see “Non-GAAP Reconciliation” tables at the end of this news release).

The efficiency ratio was 53.8% during the third quarter of 2025, compared to 55.0% during the linked quarter and 65.9% during the third quarter of 2024. Excluding the impact of net gain on sale of securities and other assets, fair value change in equity securities and loans held for sale, severance expense, settlement loss related to the termination of a legacy pension plan, loss on extinguishment of debt and amortization of other intangible assets, the adjusted efficiency ratio was 53.1% during the third quarter of 2025, compared to 54.7% during the linked quarter and 65.6% during the third quarter of 2024 (see “Non-GAAP Reconciliation” tables at the end of this news release).

Income Tax Expense

Income tax expense was $12.4 million during the third quarter of 2025, $10.5 million during the second quarter of 2025, and $4.9 million during the third quarter of 2024. The effective tax rate for the third quarter of 2025 was 31.0%, compared to 26.1% for the second quarter of 2025 and 26.9% for the third quarter of 2024.

Credit Quality

Non-performing loans were $72.1 million at September 30, 2025, compared to $53.2 million at June 30, 2025 and $49.5 million at September 30, 2024.

Mr. Lubow commented, “When we file our Quarterly Report on Form 10-Q, we expect to report that the level of criticized assets at September 30, 2025 were lower than the level of criticized assets at June 30, 2025.”

A credit loss provision of $13.3 million was recorded during the third quarter of 2025, compared to a credit loss provision of $9.2 million during the second quarter of 2025, and a credit loss provision of $11.6 million during the third quarter of 2024.

Capital Management

Stockholders’ equity increased $21.3 million to $1.45 billion at September 30, 2025, compared to $1.43 billion at June 30, 2025.

The Company’s and the Bank’s regulatory capital ratios continued to be in excess of all applicable regulatory requirements as of September 30, 2025. All risk-based regulatory capital ratios increased in the third quarter of 2025.

Dividends per common share were $0.25 during the third quarter of 2025 and the second quarter of 2025, respectively.

Book value per common share was $30.44 at September 30, 2025 compared to $29.95 at June 30, 2025.

Tangible common book value per share (which represents common equity less goodwill and other intangible assets, divided by the number of shares outstanding) was $26.81 at September 30, 2025 compared to $26.32 at June 30, 2025 (see “Non-GAAP Reconciliation” tables at the end of this news release).

Page 4

Earnings Call Information

The Company will conduct a conference call at 8:00 a.m. (ET) on Thursday, October 23, 2025, during which CEO Lubow will discuss the Company’s third quarter 2025 financial performance, with a question-and-answer session to follow.

Participants may access the conference call via webcast using this link: https://edge.media-server.com/mmc/p/fgnebsmd. To participate via telephone, please register in advance using this link: https://register-conf.media-server.com/register/BIf691803ee4544b2cae2b6b287bcc61d2. Upon registration, all telephone participants will receive a one-time confirmation email detailing how to join the conference call, including the dial-in number along with a unique PIN that can be used to access the call. All participants are encouraged to dial-in 10 minutes prior to the start time.

A replay of the conference call and webcast will be available on-demand for 12 months at https://edge.media-server.com/mmc/p/fgnebsmd.

ABOUT DIME COMMUNITY BANCSHARES, INC.

Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over $14 billion in assets and the number one deposit market share among community banks on Greater Long Island. ⁽¹⁾

⁽¹⁾ Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets.

This news release contains a number of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements may be identified by use of words such as “annualized," “anticipate," "believe," “continue,” "could," "estimate," "expect," "intend," “likely,” "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar terms and phrases, including references to assumptions.

Forward-looking statements are based upon various assumptions and analyses made by the Company in light of management's experience and its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate under the circumstances. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors (many of which are beyond the Company's control) that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Accordingly, you should not place undue reliance on such statements. Factors that could affect our results include, without limitation, the following: the timing and occurrence or non-occurrence of events may be subject to circumstances beyond the Company’s control; there may be increases in competitive pressure among financial institutions or from non-financial institutions; changes in the interest rate environment may affect demand for our products and reduce interest margins and the value of our investments; changes in government monetary or fiscal policies and actions may adversely affect our customers, cost of credit and overall result of operations; changes in deposit flows, the cost of funds, loan demand or real estate values may adversely affect the business of the Company; changes in the quality and composition of the Company’s loan or investment portfolios or unanticipated or significant increases in loan losses may negatively affect the Company’s financial condition or results of operations; changes in accounting principles, policies or guidelines may cause the Company’s financial condition to be perceived differently; changes in corporate and/or individual income tax laws may adversely affect the Company's financial condition or results of operations; general socio-economic conditions, public health emergencies, international conflict, inflation, tariffs, and recessionary pressures, either nationally or locally in some or all areas in which the Company conducts business, or conditions in the securities markets or the banking industry may be less favorable than the Company currently anticipates and may adversely affect our customers, our financial results and our operations; legislation or regulatory changes may adversely affect the Company’s business; technological changes may be more difficult or expensive than the Company anticipates; there may be failures or breaches of information technology security systems; success or consummation of new business initiatives may be more difficult or expensive than the Company anticipates; there may be difficulties or unanticipated expense incurred in the consummation of new business initiatives or the integration of any acquired entities; and litigation or other matters before regulatory agencies, whether currently existing or commencing in the future, may delay the occurrence or non-occurrence of events longer than the Company anticipates. For discussion of these and other risks that may cause actual results to differ from expectations, please refer to the sections entitled “Forward-Looking Statements” and “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and updates set forth in the Company’s subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

Contact: Avinash Reddy
Senior Executive Vice President – Chief Financial Officer
718-782-6200 extension 5909

Page 5

DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(In thousands)


	September 30,		June 30,		December 31,
	2025		2025		2024
Assets:
Cash and due from banks	$	1,715,044	$	1,156,754	$	1,283,571
Securities available-for-sale, at fair value		662,667		703,461		690,693
Securities held-to-maturity		623,094		625,188		637,339
Loans held for sale		—		13,617		22,625
Loans held for investment, net:
Business loans ⁽¹⁾		3,062,674		2,902,170		2,726,602
One-to-four family residential and coop/condo apartment		1,030,949		998,677		952,195
Multifamily residential and residential mixed-use ⁽²⁾⁽³⁾		3,509,811		3,693,481		3,820,492
Non-owner-occupied commercial real estate		2,975,474		3,128,453		3,231,398
Acquisition, development and construction		139,145		141,755		136,172
Other loans		7,621		6,336		5,084
Allowance for credit losses		(94,061)		(93,189)		(88,751)
Total loans held for investment, net		10,631,613		10,777,683		10,783,192
Premises and fixed assets, net		32,525		33,957		34,858
Restricted stock		66,989		67,110		69,106
BOLI		396,904		393,345		290,665
Goodwill		155,797		155,797		155,797
Other intangible assets		3,173		3,409		3,896
Operating lease assets		45,402		44,717		46,193
Derivative assets		81,440		90,966		116,496
Accrued interest receivable		57,048		55,418		55,970
Other assets		67,247		86,513		162,857
Total assets	$	14,538,943	$	14,207,935	$	14,353,258
Liabilities:
Non-interest-bearing checking (excluding mortgage escrow deposits)	$	3,597,682	$	3,432,667	$	3,355,829
Interest-bearing checking		1,094,995		1,029,297		1,079,823
Savings (excluding mortgage escrow deposits)		1,721,670		1,923,277		1,927,903
Money market		4,425,143		4,229,503		4,198,784
Certificates of deposit		1,138,872		1,080,093		1,069,081
Deposits (excluding mortgage escrow deposits)		11,978,362		11,694,837		11,631,420
Non-interest-bearing mortgage escrow deposits		83,240		45,256		54,715
Interest-bearing mortgage escrow deposits		5		2		6
Total mortgage escrow deposits		83,245		45,258		54,721
FHLBNY advances		508,000		508,000		608,000
Other short-term borrowings		—		—		50,000
Subordinated debt, net		272,459		272,414		272,325
Derivative cash collateral		57,260		69,840		112,420
Operating lease liabilities		48,138		47,559		48,993
Derivative liabilities		77,637		86,110		108,347
Other liabilities		61,500		52,911		70,515
Total liabilities		13,086,601		12,776,929		12,956,741
Stockholders' equity:
Preferred stock, Series A		116,569		116,569		116,569
Common stock		461		461		461
Additional paid-in capital		622,657		622,660		624,822
Retained earnings		835,083		820,221		794,526
Accumulated other comprehensive loss ("AOCI"), net of deferred taxes		(33,596)		(37,937)		(45,018)
Unearned equity awards		(11,332)		(13,525)		(7,640)
Treasury stock, at cost		(77,500)		(77,443)		(87,203)
Total stockholders' equity		1,452,342		1,431,006		1,396,517
Total liabilities and stockholders' equity	$	14,538,943	$	14,207,935	$	14,353,258

⁽¹⁾ Business loans include commercial and industrial loans, owner-occupied commercial real estate loans and Paycheck Protection Program (“PPP”) loans.

⁽²⁾ Includes loans underlying multifamily cooperatives.

⁽³⁾ While the loans within this category are often considered "commercial real estate" in nature, multifamily and loans underlying cooperatives are here reported separately from commercial real estate loans in order to emphasize the residential nature of the collateral underlying this significant component of the total loan portfolio.

Page 6

DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

(Dollars in thousands except share and per share amounts)


	Three Months Ended						Nine Months Ended
	September 30,		June 30,		September 30,		September 30,		September 30,
	2025		2025		2024		2025		2024
Interest income:
Loans	$	147,756	$	145,448	$	151,828	$	435,909	$	442,492
Securities		11,338		11,353		7,766		34,014		23,553
Other short-term investments		16,449		10,749		4,645		35,035		18,621
Total interest income		175,543		167,550		164,239		504,958		484,666
Interest expense:
Deposits and escrow		62,950		60,181		74,025		181,205		219,972
Borrowed funds		8,406		8,354		8,764		25,141		32,494
Derivative cash collateral		788		918		1,526		2,903		5,244
Total interest expense		72,144		69,453		84,315		209,249		257,710
Net interest income		103,399		98,097		79,924		295,709		226,956
Provision for credit losses		13,294		9,221		11,603		32,141		22,398
Net interest income after provision		90,105		88,876		68,321		263,568		204,558
Non-interest income:
Service charges and other fees		5,209		4,642		4,267		14,494		12,783
Title fees		126		118		190		342		617
Loan level derivative income		650		942		132		1,653		1,623
BOLI income		4,956		4,186		2,606		13,135		7,551
Gain on sale of Small Business Administration ("SBA") loans		38		387		19		507		385
Gain on sale of residential loans		37		50		38		119		142
Fair value change in equity securities and loans held for sale		51		83		39		152		(1,219)
Net gain on securities		14		149		—		163		—
(Loss) gain on sale of other assets		(1,117)		—		2		(1,117)		6,665
Other		2,247		1,038		338		3,991		1,359
Total non-interest income		12,211		11,595		7,631		33,439		29,906
Non-interest expense:
Salaries and employee benefits		38,344		36,218		36,132		110,213		100,353
Severance		6		136		—		218		42
Occupancy and equipment		8,107		7,729		7,448		23,838		22,225
Data processing costs		4,798		4,903		4,544		14,495		13,262
Marketing		1,961		1,756		1,629		5,383		4,763
Professional services		2,228		2,097		2,036		6,441		6,269
Federal deposit insurance premiums		1,799		1,692		2,105		5,538		6,594
Loss on extinguishment of debt		—		—		1		—		454
Loss due to pension settlement		—		—		—		7,231		—
Amortization of other intangible assets		236		235		286		723		878
Other		4,745		5,533		3,548		13,954		11,094
Total non-interest expense		62,224		60,299		57,729		188,034		165,934
Income before taxes		40,092		40,172		18,223		108,973		68,530
Income tax expense		12,421		10,475		4,896		30,147		19,033
Net income		27,671		29,697		13,327		78,826		49,497
Preferred stock dividends		1,822		1,821		1,822		5,465		5,465
Net income available to common stockholders	$	25,849	$	27,876	$	11,505	$	73,361	$	44,032
Earnings per common share ("EPS"):
Basic	$	0.59	$	0.64	$	0.29	$	1.67	$	1.13
Diluted	$	0.59	$	0.64	$	0.29	$	1.67	$	1.13

Average common shares outstanding for diluted EPS		43,052,898		43,030,023		38,366,619		43,010,919		38,317,223

Page 7

DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES

UNAUDITED SELECTED FINANCIAL HIGHLIGHTS

(Dollars in thousands except per share amounts)


	At or For the Three Months Ended									At or For the Nine Months Ended
	September 30,			June 30,			September 30,			September 30,			September 30,
	2025			2025			2024			2025			2024
Per Share Data:
Reported EPS (Diluted)	$	0.59		$	0.64		$	0.29		$	1.67		$	1.13
Cash dividends paid per common share		0.25			0.25			0.25			0.75			0.75
Book value per common share		30.44			29.95			29.31			30.44			29.31
Tangible common book value per share ⁽¹⁾		26.81			26.32			25.22			26.81			25.22
Common shares outstanding		43,889			43,889			39,152			43,889			39,152
Dividend payout ratio		42.37	%		39.06	%		86.21	%		44.91	%		66.37	%

Performance Ratios (Based upon Reported Net Income):
Return on average assets		0.77	%		0.85	%		0.39	%		0.75	%		0.49	%
Return on average equity		7.59			8.28			4.19			7.31			5.24
Return on average tangible common equity ⁽¹⁾		8.80			9.68			4.70			8.47			6.06
Net interest margin		3.01			2.98			2.50			2.98			2.37
Non-interest expense to average assets		1.73			1.72			1.71			1.78			1.63
Efficiency ratio		53.8			55.0			65.9			57.1			64.6
Effective tax rate		30.98			26.08			26.87			27.66			27.77

Balance Sheet Data:
Average assets	$	14,426,002		$	14,013,592		$	13,502,753		$	14,074,794		$	13,571,710
Average interest-earning assets		13,638,036			13,195,116			12,734,246			13,267,962			12,791,233
Average tangible common equity ⁽¹⁾		1,182,158			1,158,738			996,578			1,162,403			981,614
Loan-to-deposit ratio at end of period⁽²⁾		88.9	%		92.6	%		95.4	%		88.9	%		95.4	%

Capital Ratios and Reserves - Consolidated: ⁽³⁾
Tangible common equity to tangible assets ⁽¹⁾		8.18	%		8.22	%		7.27	%
Tangible equity to tangible assets ⁽¹⁾		8.99			9.05			8.13
Tier 1 common equity ratio		11.53			11.25			10.16
Tier 1 risk-based capital ratio		12.64			12.34			11.28
Total risk-based capital ratio		16.18			15.84			14.76
Tier 1 leverage ratio		9.29			9.43			8.76
Consolidated CRE concentration ratio ⁽³⁾⁽⁴⁾		401			425			487
Allowance for credit losses/ Total loans		0.88			0.86			0.78
Allowance for credit losses/ Non-performing loans		130.54			175.12			172.29

⁽¹⁾ See "Non-GAAP Reconciliation" tables for reconciliation of tangible equity, tangible common equity, and tangible assets.

⁽²⁾ Total deposits include mortgage escrow deposits, which fluctuate seasonally.

⁽³⁾	September 30, 2025 ratios are preliminary pending completion and filing of the Company’s regulatory reports.

⁽⁴⁾ The Consolidated CRE concentration ratio is calculated using the sum of commercial real estate, excluding owner-occupied commercial real estate, multifamily, and acquisition, development, and construction, divided by consolidated capital. The September 30, 2025 ratio is preliminary pending completion and filing of the Company’s regulatory reports.

Page 8

DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES

UNAUDITED AVERAGE BALANCES AND NET INTEREST INCOME

(Dollars in thousands)


	Three Months Ended
	September 30, 2025						June 30, 2025						September 30, 2024
					Average						Average						Average
	Average				Yield/		Average				Yield/		Average				Yield/
	Balance		Interest		Cost		Balance		Interest		Cost		Balance		Interest		Cost
Assets:
Interest-earning assets:
Business loans ⁽¹⁾	$	2,957,434	$	50,271	6.74	%	$	2,798,899	$	46,593	6.68	%	$	2,609,934	$	46,656	7.11	%
One-to-four family residential and coop/condo apartment		1,023,844		12,120	4.70			981,138		11,532	4.71			924,150		11,024	4.75
Multifamily residential and residential mixed-use		3,591,822		41,712	4.61			3,740,939		42,462	4.55			3,902,220		45,790	4.67
Non-owner-occupied commercial real estate		3,067,598		40,439	5.23			3,175,062		41,822	5.28			3,297,760		44,804	5.40
Acquisition, development, and construction		145,902		3,184	8.66			136,154		3,009	8.86			147,875		3,505	9.43
Other loans		7,515		30	1.58			7,135		30	1.69			4,891		49	3.99
Securities		1,340,223		11,338	3.36			1,361,383		11,353	3.34			1,493,492		7,766	2.07
Other short-term investments		1,503,698		16,449	4.34			994,406		10,749	4.34			353,924		4,645	5.22
Total interest-earning assets		13,638,036		175,543	5.11	%		13,195,116		167,550	5.09	%		12,734,246		164,239	5.13	%
Non-interest-earning assets		787,966						818,476						768,507
Total assets	$	14,426,002					$	14,013,592					$	13,502,753

Liabilities and Stockholders' Equity:
Interest-bearing liabilities:
Interest-bearing checking ⁽²⁾	$	1,069,761	$	5,306	1.97	%	$	943,716	$	4,141	1.76	%	$	798,024	$	4,635	2.31	%
Money market		4,359,512		34,877	3.17			4,174,694		32,818	3.15			3,771,562		36,841	3.89
Savings ⁽²⁾		1,821,289		13,273	2.89			1,925,224		14,048	2.93			2,102,282		19,492	3.69
Certificates of deposit		1,116,152		9,494	3.37			1,075,729		9,174	3.42			1,232,984		13,057	4.21
Total interest-bearing deposits		8,366,714		62,950	2.99			8,119,363		60,181	2.97			7,904,852		74,025	3.73
FHLBNY advances		508,000		4,104	3.21			508,000		4,053	3.20			528,652		4,455	3.35
Subordinated debt, net		272,429		4,301	6.26			272,385		4,301	6.33			271,450		4,307	6.31
Other short-term borrowings		76		1	5.22			—		—	—			131		2	6.07
Total borrowings		780,505		8,406	4.27			780,385		8,354	4.29			800,233		8,764	4.36
Derivative cash collateral		63,856		788	4.90			79,188		918	4.65			91,305		1,526	6.65
Total interest-bearing liabilities		9,211,075		72,144	3.11	%		8,978,936		69,453	3.10	%		8,796,390		84,315	3.81	%
Non-interest-bearing checking ⁽²⁾		3,573,448						3,412,215						3,209,502
Other non-interest-bearing liabilities		183,627						187,774						223,546
Total liabilities		12,968,150						12,578,925						12,229,438
Stockholders' equity		1,457,852						1,434,667						1,273,315
Total liabilities and stockholders' equity	$	14,426,002					$	14,013,592					$	13,502,753
Net interest income			$	103,399					$	98,097					$	79,924
Net interest rate spread					2.00	%					1.99	%					1.32	%
Net interest margin					3.01	%					2.98	%					2.50	%
Deposits (including non-interest-bearing checking accounts) ⁽²⁾	$	11,940,162	$	62,950	2.09	%	$	11,531,578	$	60,181	2.09	%	$	11,114,354	$	74,025	2.65	%

⁽¹⁾ Business loans include commercial and industrial loans, owner-occupied commercial real estate loans and PPP loans.

⁽²⁾ Includes mortgage escrow deposits.

Page 9

DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES

UNAUDITED SCHEDULE OF NON-PERFORMING ASSETS

(Dollars in thousands)


	At or For the Three Months Ended
	September 30,		June 30,		September 30,
Asset Quality Detail	2025		2025		2024
Non-performing loans ("NPLs")
Business loans⁽¹⁾	$	21,005	$	18,007	$	25,411
One-to-four family residential and coop/condo apartment		2,440		1,642		3,880
Multifamily residential and residential mixed-use		—		—		—
Non-owner-occupied commercial real estate		47,952		32,908		19,509
Acquisition, development, and construction		657		657		657
Other loans		—		—		6
Total Non-accrual loans	$	72,054	$	53,214	$	49,463
Total Non-performing assets ("NPAs")	$	72,054	$	53,214	$	49,463

Total loans 90 days delinquent and accruing ("90+ Delinquent")	$	—	$	—	$	—

NPAs and 90+ Delinquent	$	72,054	$	53,214	$	49,463

NPAs and 90+ Delinquent / Total assets		0.50%		0.37%		0.36%
Net charge-offs ("NCOs")	$	12,586	$	5,405	$	4,199
NCOs / Average loans ⁽²⁾		0.47%		0.20%		0.15%

⁽¹⁾ Business loans include commercial and industrial loans, owner-occupied commercial real estate loans and PPP loans.

⁽²⁾ Calculated based on annualized NCOs to average loans, excluding loans held for sale.

Page 10

DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES

NON-GAAP RECONCILIATION

(Dollars in thousands except per share amounts)

The following tables below provide a reconciliation of certain financial measures calculated under generally accepted accounting principles ("GAAP") (as reported) and non-GAAP measures. A non-GAAP financial measure is a numerical measure of historical or future financial performance, financial position or cash flows that excludes or includes amounts that are required to be disclosed in the most directly comparable measure calculated and presented in accordance with GAAP in the United States. The Company’s management believes the presentation of non-GAAP financial measures provides investors with a greater understanding of the Company’s operating results in addition to the results measured in accordance with GAAP. While management uses these non-GAAP measures in its analysis of the Company’s performance, this information should not be viewed as a substitute for financial results determined in accordance with GAAP or considered to be more important than financial results determined in accordance with GAAP.

The following non-GAAP financial measures exclude pre-tax income and expenses associated with the fair value change in equity securities and loans held for sale, net gain on sale of securities and other assets, severance, loss on extinguishment of debt and loss due to pension settlement.


	Three Months Ended									Nine Months Ended
	September 30,			June 30,			September 30,			September 30,			September 30,
	2025			2025			2024			2025			2024
Reconciliation of Reported and Adjusted (non-GAAP) Net Income Available to Common Stockholders
Reported net income available to common stockholders	$	25,849		$	27,876		$	11,505		$	73,361		$	44,032
Adjustments to net income ^(1):
Fair value change in equity securities and loans held for sale		(51)			(83)			(39)			(152)			1,219
Loss (gain) on sale of securities and other assets		1,112			(72)			(2)			1,040			(6,665)
Severance		6			136			—			218			42
Loss on extinguishment of debt		—			—			1			—			454
Loss due to pension settlement		—			—			—			7,231			—
Income tax effect of adjustments noted above ⁽¹⁾		(328)			6			13			(2,559)			1,574
Adjusted net income available to common stockholders (non-GAAP)	$	26,588		$	27,863		$	11,478		$	79,139		$	40,656

Adjusted Ratios (Based upon Adjusted (non-GAAP) Net Income as calculated above)
Adjusted EPS (Diluted)	$	0.61		$	0.64		$	0.29		$	1.81		$	1.04
Adjusted return on average assets		0.79	%		0.85	%		0.39	%		0.80	%		0.45	%
Adjusted return on average equity		7.80			8.28			4.18			7.84			4.89
Adjusted return on average tangible common equity		9.05			9.67			4.69			9.14			5.60
Adjusted non-interest expense to average assets		1.72			1.71			1.70			1.70			1.62
Adjusted efficiency ratio		53.1			54.7			65.6			54.5			65.5

⁽¹⁾ Adjustments to net income are taxed at the Company's approximate statutory tax rate.

The following table presents a reconciliation of operating expense as a percentage of average assets (as reported) and adjusted operating expense as a percentage of average assets (non-GAAP):


	Three Months Ended						Nine Months Ended
	September 30,		June 30,		September 30,		September 30,		September 30,
	2025		2025		2024		2025		2024
Operating expense as a % of average assets - as reported	1.73	%	1.72	%	1.71	%	1.78	%	1.63	%
Severance	—		—		—		—		—
Loss on extinguishment of debt	—		—		—		—		—
Loss due to pension settlement	—		—		—		(0.07)		—
Amortization of other intangible assets	(0.01)		(0.01)		(0.01)		(0.01)		(0.01)
Adjusted operating expense as a % of average assets (non-GAAP)	1.72	%	1.71	%	1.70	%	1.70	%	1.62	%

Page 11

The following table presents a reconciliation of efficiency ratio (non-GAAP) and adjusted efficiency ratio (non-GAAP):


	Three Months Ended									Nine Months Ended
	September 30,			June 30,			September 30,			September 30,			September 30,
	2025			2025			2024			2025			2024
Efficiency ratio - as reported (non-GAAP)⁽¹⁾		53.8	%		55.0	%		65.9	%		57.1	%		64.6	%
Non-interest expense - as reported	$	62,224		$	60,299		$	57,729		$	188,034		$	165,934
Severance		(6)			(136)			—			(218)			(42)
Loss on extinguishment of debt		—			—			(1)			—			(454)
Loss due to pension settlement		—			—			—			(7,231)			—
Amortization of other intangible assets		(236)			(235)			(286)			(723)			(878)
Adjusted non-interest expense (non-GAAP)	$	61,982		$	59,928		$	57,442		$	179,862		$	164,560
Net interest income - as reported	$	103,399		$	98,097		$	79,924		$	295,709		$	226,956
Non-interest income - as reported	$	12,211		$	11,595		$	7,631		$	33,439		$	29,906
Fair value change in equity securities and loans held for sale		(51)			(83)			(39)			(152)			1,219
Loss (gain) on sale of securities and other assets		1,112			(72)			(2)			1,040			(6,665)
Adjusted non-interest income (non-GAAP)	$	13,272		$	11,440		$	7,590		$	34,327		$	24,460
Adjusted total revenues for adjusted efficiency ratio (non-GAAP)	$	116,671		$	109,537		$	87,514		$	330,036		$	251,416
Adjusted efficiency ratio (non-GAAP)⁽²⁾		53.1	%		54.7	%		65.6	%		54.5	%		65.5	%

(1)	The reported efficiency ratio is a non-GAAP measure calculated by dividing GAAP non-interest expense by the sum of GAAP net interest income and GAAP non-interest income.

(2)	The adjusted efficiency ratio is a non-GAAP measure calculated by dividing adjusted non-interest expense by the sum of GAAP net interest income and adjusted non-interest income.

The following table presents the tangible common equity to tangible assets, tangible equity to tangible assets, and tangible common book value per share calculations (non-GAAP):


	September 30,			June 30,			September 30,
	2025			2025			2024
Reconciliation of Tangible Assets:
Total assets	$	14,538,943		$	14,207,935		$	13,746,529
Goodwill		(155,797)			(155,797)			(155,797)
Other intangible assets		(3,173)			(3,409)			(4,181)
Tangible assets (non-GAAP)	$	14,379,973		$	14,048,729		$	13,586,551

Reconciliation of Tangible Common Equity - Consolidated:
Total stockholders' equity	$	1,452,342		$	1,431,006		$	1,263,929
Goodwill		(155,797)			(155,797)			(155,797)
Other intangible assets		(3,173)			(3,409)			(4,181)
Tangible equity (non-GAAP)		1,293,372			1,271,800			1,103,951
Preferred stock, net		(116,569)			(116,569)			(116,569)
Tangible common equity (non-GAAP)	$	1,176,803		$	1,155,231		$	987,382

Common shares outstanding		43,889			43,889			39,152

Tangible common equity to tangible assets (non-GAAP)		8.18	%		8.22	%		7.27	%
Tangible equity to tangible assets (non-GAAP)		8.99			9.05			8.13

Book value per common share	$	30.44		$	29.95		$	29.31
Tangible common book value per share (non-GAAP)		26.81			26.32			25.22