The current contractor is Bank of America, N.A. Bridge Bancorp, Inc. and Dime Community Bancshares, Inc. Close Merger of Equals. Dime Community Bancshares had a net margin of 33.22% and a return on equity of 14.39%. Dime continued to be troubled by non-performing assets, mostly overdue mortgages and foreclosed homes (which made up 10.8 percent of its assets as of September 1992, up from 1.65 percent in 1987). It has been extremely volatile. 1- 4 Family Residential Net Loans and Leases, Total Loans and Leases in Foreign Offices, Maturity & Repricing for Loans and Leases, Loans Restructured in Troubled Debt Restructurings, Deposits Based on the $100,000 Reporting Threshold, Deposits Based on the $250,000 Reporting Threshold, Total Assets and Liabilities in Foreign Offices, Past Due 30- 89 Days 1- 4 Family Residential, Past Due 90+ Days 1- 4 Family Residential, Past Due and Nonaccrual Loans Wholly or Partially US Gvmt Guaranteed, Number of Fiduciary and Related Asset Accounts, Total Managed Assets held in Fiduciary Accounts, Collective Investment & Common Trust Funds, Gross Fiduciary and Related Services Income, Fiduciary settlements, surcharges, and other losses, Carrying Amount of Assets Covered by FDIC Loss- Share Agreements, Maximum Amount of Credit Exposure Retained, Total Charge- offs 1- 4 Family Residential, Interest income and expense in foreign offices, Savings banks, state charter, supervised by the FDIC, Institution established: Original name:The Dime Savings Bank, Changed name to The Dime Savings Bank of New York, Acquired Mechanics Exchange Savings Bank (, Acquired First Federal Savings and Loan Association of Port Washington (, Acquired Union Savings Bank of New York (, Changed name to The Dime Savings Bank of New York, FSB, Changed primary regulatory agency from FEDERAL DEPOSIT INSURANCE CORPORATION to OFFICE OF THRIFT SUPERVISION, Changed organization type to STOCK SAVINGS BANK, Moved bank headquarters from NEW YORK CITY, NY to GARDEN CITY, NY, Moved bank headquarters from GARDEN CITY, NY to NEW YORK, NY, Change trust powers from TRUST POWERS NOT GRANTED to FULL TRUST POWERS GRANTED, Changed name to Washington Mutual Bank (32633), Moved bank headquarters from STOCKTON, CA to HENDERSON, NV, Failed. Contact your banker to enroll in Business Online Banking. The combined bank will . That's 7.94 billion dimes, by the way. "I don't know that you really need to have that name on this building.". Winner will be selected at random on 02/01/2023. Checking and savings smarts: Make your accounts work harder for you; 5 reasons why couples may have separate bank accounts; 5 tips for parents opening a bank account for kids; Dear Money Mentor: How do I set and track financial goals? BNB has taken the Dime name, effective Feb. 1. We give an overview of all of their account offerings, rates, fees as well as branch locations. Can an Old Coin Solve the Mystery of a Lost Roman Emperor. These sites are not under the control of Dime Bank and Dime Bank makes no representation or warranty, express or implied, to the user concerning: Using a hyperlink may identify you as a Dime Bank member to the operator of the external site. And Warburg's position on community reinvestment issues? With so little money in its vaults, it set out to lure as many customers as it could. Kevin OConnor, former president and chief executive officer of Bridge, is now chief executive officer of the combined bank. "There hasn't been a Dime Bank branch in Detroit for 80 or 90 years," he said. Customers Will Not Experience Any Immediate Changes to Their Banking Relationship Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a community-oriented financial institution. As a full-service financial institution, Dime offers consumer and commercial banking, home mortgages, trust services and, through a strategic alliance with Northstar Wealth Partners, insurance and investments. Customers can find additional information at Dime.com/merger. Summary Balance Sheet June 30, 2022 . Return to top. Whether you are saving for retirement, a special vacation, your next car, or simply for a rainy day, we have a variety of custom-designed accounts to help you get that nest egg growing and put you on the path to savings success. Following a capital restructuring plan at the hands of federal S&L regulators, the Dime turned a profit in 1992 for the first time in five years. Up until the late 1970s, savings and loan banks were heavily regulated in the types of loans they could offer and the interest rates they charged; for example, commercial lending was limited by New York State law to five percent of a savings bank's assets, and mutual savings banks were restricted by New York State law to only offering home mortgages. When we say personal banking, we mean it. The institution was backed by only $60,000. M&A Summary Buy vs Sell +3 Most Recent M&A M&A by Sector By Geo The dime deposit idea turned out to be a profitable one and was maintained for a number of years, "and there are a great many Detroiters whose first bank accounts started with a dime in the Dime Savings Bank," The Detroit News wrote in 1929. While the news of Chrysler moving workers into Detroit was celebrated, some were puzzled that Gilbert decided to rename the building "the Chrysler House." Parsons noted that savings banks like Dime were now competing with large banks. The headquarter was located at 2 North Main Street, Wallingford, CT 06492. August 24, 2022 @lalynchtrainer. The bank was formerly headquartered at 9 DeKalb Avenue, built in 1906-08 in Downtown Brooklyn. Applications filed by an insured state-chartered mutually owned savings bank that proposes to convert from mutual to stock form. The WalletHub rating is comprised of reviews from both WalletHub users and ratings on other reputable websites. Chief Executive Officer Kevin OConnor and Executive Chairman Kenneth Mahon issued the following joint statement: The completion of this transaction unites two iconic New York community banks creating the premier community-based business bank in our region. Thus, most firms merely had to function profitably within heavily prescribed limits. Every available space was decorated with oversize gleaming dime coins and gleaming bronze friezes celebrating industry and hard work. Dime Community Bank has closed its $489 million merger with BNB Bank, boosting the local banking giant into a force with 65 combined locations from Montauk to Manhattan now branded as. In attempts to cut costs, in February 1992 Dime eliminated 400 jobs (about 15 percent of its staff), and turned to outsourcing of many office activities. We generally keep our finances separated, and it works for us. The exterior was designed to resemble a neo-classical temple, with fluted columns leading to a domed roof. As a group, sell-side analysts anticipate that Dime Community Bancshares, Inc. will post 3.74 earnings per . >> i think the fed is imposing a severe slowing on the economy. Iceland in Winter: Natural Wonders & Ancient Legends, Vietnam: A Culinary Adventure from Hanoi to Saigon, Antiques and Their Afterlives: Osteological Specimens, Accidental Discoveries: A Celebration of Historical Mistakes, Monster of the Month w/ Colin Dickey: St. Foy, Mindful Mixology: Making Non-Alcoholic Cocktails During Dry January With Derek Brown, Designing Immersive Gatherings With Zach Morris of Third Rail Projects, Raising the Bar: Chocolate's History, Art, and Taste With Sophia Contreras Rea, Once Upon a Time: Fairy Tale Writing With Anca Szilgyi, How the Discovery of a Unique Sign Language Reconnected a Linguist With Her Past, How a Groundbreaking Pastry Chef Bakes Outside the Lines. Lafayette American Bank was the successor institution. By accessing the noted link you will be leaving our website and entering a partner site which is hosted by another party. >> they will cause if inflation is declining but they wont be able to if they are not achieving their inflation objectives. Dime acquired Starpointe Savings Bank of Somerset, New Jersey, for $63 million, establishing Dime's first consumer banking presence in New Jersey. Our website uses cookies and other similar technologies to improve our site and your online experience. But I want to go back to the original Old, New, Borrowed, and . The company also restructured its top management, shedding its chief financial officer, head of foreclosed real estate, chief service quality executive, and senior mortgage official. 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