HAUPPAUGE, N.Y., June 29, 2021 (GLOBE NEWSWIRE) -- Dime Community Bank, the wholly owned subsidiary of Dime Community Bancshares , Inc. (NASDAQ: DCOM) (the “Company” or “Dime”), announced today that it plans to combine five branch locations into other existing branches.
Kevin M. O’Connor, Chief Executive Officer of the Company, stated, “We regularly review our distribution channels and these combinations are part of our ongoing efforts to improve the efficiency of our branch network. Each location will be combined into a nearby branch, thereby minimizing customer disruption and allowing us to continue to serve our customers’ needs.”
The combinations are expected to take place in October 2021.
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 $13 billion in assets and 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.