Dime Community Bancshares, Inc. Reports First Quarter 2025 EPS of $0.45; Adjusted EPS of $0.57

Core Financial Performance - The company reported net income available to common stockholders of $19.6 million for Q1 2025, a significant recovery from a net loss of$22.2 million in Q4 2024 and an increase from $15.9 million in Q1 2024 [1][3] - Adjusted net income available to common stockholders (non-GAAP) was$24.7 million for Q1 2025, reflecting a 42% increase from the previous quarter and a 67% increase year-over-year [3] - The net interest margin (NIM) expanded by 16 basis points to 2.95% in Q1 2025 compared to 2.79% in Q4 2024 [1][9] Revenue and Expenses - Net interest income for Q1 2025 was $94.2 million, up from$91.1 million in Q4 2024 and $71.5 million in Q1 2024 [6] - Non-interest income was$9.6 million in Q1 2025, a recovery from a loss of $33.9 million in Q4 2024 [20] - Total non-interest expense increased to$65.5 million in Q1 2025 from $60.6 million in Q4 2024, with adjusted non-interest expense at$58.0 million [21][22] Loan and Deposit Growth - Total deposits increased by $717.0 million year-over-year, with core deposits rising by$1.35 billion [8] - The company’s loan portfolio stood at $10.87 billion, with business loans at$2.79 billion and a weighted average rate of 6.55% [11][12] - Loan originations for Q1 2025 were $71.5 million, a decrease from$187.5 million in Q4 2024 [15] Capital and Credit Quality - Stockholders' equity increased to $1.41 billion at the end of Q1 2025, with a Common Equity Tier 1 Ratio of 11.12$58.0 million, up from $49.5 million in Q4 2024, with a credit loss provision of$9.6 million recorded in Q1 2025 [25] Management and Strategic Initiatives - The company has made significant hires to strengthen its executive leadership team, including Tom Geisel and Robert Rowe [8] - The CEO highlighted the company's strong start to the year in recruiting and plans to continue adding talent to gain market share [4][8]