Dime Community Bancshares Announces Pricing of Common Stock Offering

Core Viewpoint - Dime Community Bancshares, Inc. has announced a public offering of 3,906,250 shares of its common stock at a price of $32.00 per share, aiming for gross proceeds of$125 million [1][2]. Group 1: Offering Details - The company has granted underwriters a 30-day option to purchase an additional 585,937 shares at the public offering price [2]. - The offering is expected to close on or about November 13, 2024, subject to customary conditions [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be used for general corporate purposes, including working capital, investments in its bank subsidiary, and potential balance sheet optimization strategies [3]. Group 3: Company Background - Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, which has over $13.7 billion in assets and holds the number one deposit market share among community banks in Greater Long Island [8].