Dime Announces Intention to Redeem Subordinated Debt and Reauthorization of Share Repurchase Plan

Core Viewpoint - Dime Community Bancshares, Inc. is executing a redemption of $40 million in subordinated debentures as part of its capital management strategy, reflecting a strong capital position and liquidity profile [1] Group 1: Redemption of Debentures - The company plans to redeem all outstanding $40,000,000 principal amount of Fixed/Floating Subordinated Debentures due 2030 on March 30, 2026 [1] - The redemption will be funded with cash on hand and is expected to be accretive to earnings per share (EPS) [1] Group 2: Share Repurchase Program - The Board of Directors has reauthorized a share repurchase program allowing the repurchase of up to 1,566,947 outstanding common shares [2] - The timing and amount of repurchases will depend on market conditions, regulatory approvals, and other factors [2] Group 3: Financial Strength and Growth - CEO Stuart H. Lubow emphasized the company's confidence in its financial strength and long-term prospects, noting a Total Capital Ratio exceeding 16% [3] - The company has the flexibility to manage capital efficiently while supporting organic growth [3] Group 4: Company Overview - Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, which has approximately $15 billion in assets [3] - The bank holds the number one deposit market share among community banks in Greater Long Island [3]