Fitch Ratings Affirms Dime Community Bancshares, Inc.’s Ratings at “BBB”
February 09 2021 - 8:00AM
Dime Community Bancshares, Inc. (the “Company” or “Dime”) (NASDAQ:
DCOM), the parent company of Dime Community Bank (the “Bank”),
announced that Fitch Ratings (“Fitch”), in a report dated February
5, 2021, affirmed its investment grade ratings for the Company and
the Bank.
According to the Fitch report, the Company has,
to date, performed reasonably well while simultaneously managing
the challenges of the coronavirus and its merger of equals
transaction. Fitch continues to believe that the diversification
and funding benefits from the merger of equals, as well as greater
scale, moderately outweigh the integration risk associated with
such merger of equals. Fitch also noted that loan payment deferrals
have declined notably from 2Q 2020 levels.
Kevin O’ Connor, Chief Executive Officer,
stated, “We are pleased to receive an affirmation of our investment
grade rating from Fitch Ratings.”
About Dime Community Bancshares,
Inc.
Dime Community Bancshares, Inc. (Nasdaq: DCOM)
is the holding company for Dime Community Bank, a New York
State-chartered trust company with over $12 billion in assets and
number one deposit market share among community banks on Greater
Long Island(1).
Dime Community Bancshares, Inc.Investor
Relations Contact:Avinash ReddySenior Executive Vice President –
Chief Financial OfficerPhone: 718-782-6200; Ext. 5909Email:
avinash.reddy@dime.com
¹ Aggregate deposit market share for Kings, Queens, Nassau &
Suffolk counties for community banks less than $20 billion in
assets.
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