Dime(US:DCOM) Globenewswireยท2025-07-24 11:00Core Financial Performance - The company reported net income available to common stockholders of $27.9 million for Q2 2025, an increase from $19.6 million in Q1 2025 and $16.7 million in Q2 2024, translating to earnings per diluted share of $0.64, up from $0.45 and $0.43 respectively [2][36][41] - Net interest income for Q2 2025 was $98.1 million, compared to $94.2 million in Q1 2025 and $75.5 million in Q2 2024, reflecting a year-over-year growth [5][36] - The net interest margin (NIM) improved to 2.98% in Q2 2025 from 2.95% in Q1 2025 and 2.41% in Q2 2024 [6][41] Deposit and Loan Growth - Total deposits increased by $711.7 million year-over-year, reaching $11.74 billion as of June 30, 2025, compared to $11.03 billion a year earlier [8][15] - Core deposits (excluding brokered and time deposits) rose by $1.21 billion year-over-year [8] - Business loans grew by $113.3 million quarter-over-quarter and $371.3 million year-over-year, totaling $2.90 billion at the end of Q2 2025 [8][10] Capital and Efficiency Ratios - The company's Common Equity Tier 1 Ratio increased to 11.25% at the end of Q2 2025, reflecting strong capital management [8][25] - The efficiency ratio improved to 55.0% in Q2 2025 from 63.1% in Q1 2025 and 63.8% in Q2 2024, indicating better operational efficiency [22][41] Credit Quality and Provisions - Non-performing loans decreased to $53.2 million at June 30, 2025, down from $58.0 million at March 31, 2025, and $24.8 million at June 30, 2024 [24] - A credit loss provision of $9.2 million was recorded in Q2 2025, slightly down from $9.6 million in Q1 2025 and up from $5.6 million in Q2 2024 [24] Strategic Initiatives - The company has made significant hires to support its growth strategy, including the recruitment of executives to lead new lending verticals [8][21] - Plans for geographic expansion include opening a new branch in Lakewood, New Jersey, in early 2026 and another in Manhattan in Q4 2025 [8]