Dime Community Bank

Dime Community Bank is a federally insured community bank serving the New York metropolitan area and, more recently, Lakewood, New Jersey. The institution opened on June 1, 1864, in Williamsburg, Brooklyn, as the Dime Savings Bank of Williamsburgh. It was established as a mutual savings bank at a time when Williamsburg was experiencing rapid population growth and attracted many immigrant and lower-income residents. Its original purpose was to provide a local place for households to save money and obtain basic financial services. The bank developed alongside Brooklyn and remained closely associated with the Williamsburg community for much of its history. Its first premises were in the basement of the First National Bank Building near the Williamsburg Bridge. As business expanded, the institution moved to larger facilities, including a purpose-built building at 209 Havemeyer Street, also identified as 257 South 5th Street. Constructed in 1906–08 in a Neoclassical style, the building later received landmark designation from the New York City Landmarks Preservation Commission in 2018. Dime changed from a mutual savings institution into a publicly traded company on June 26, 1996. The public offering coincided with the acquisition of Conestoga Bancorp, Inc. and its subsidiary, Pioneer Savings Bank. This transaction was described as the first simultaneous initial public offering and acquisition of its kind in the United States. In 1999, Dime expanded again by acquiring Financial Bancorp, Inc., including Financial Federal Savings Bank, in a transaction valued at $74 million. During the 2000s and 2010s, Dime retained its consumer and mortgage-banking base while developing a broader commercial-banking platform. In 2017, the bank began shifting additional attention toward business and commercial customers. That year it received approval to become a Small Business Administration lender, supporting its effort to provide financing to small businesses and entrepreneurs. Its product range includes deposit accounts, residential mortgages, home-equity lending, consumer loans, commercial real-estate finance, business loans, SBA lending, cash-management services, and other banking products. Dime relocated its headquarters several times as its operations grew. In January 2017, it moved to 300 Cadman Plaza West in Brooklyn Heights. Following the completion of a merger of equals between Bridge Bancorp, Inc., the parent of BNB Bank, and Dime Community Bancshares on February 1, 2021, the combined organization continued under the Dime Community Bank brand. The bank’s headquarters is now in Hauppauge, New York, while its historical and operational presence remains concentrated in the five boroughs and Long Island. The institution operates more than 60 branches across Brooklyn, Queens, the Bronx, Nassau County, and Suffolk County. In 2025, it announced the opening of its first location in Lakewood, New Jersey, extending the franchise beyond its traditional New York market. Dime Community Bank is owned by publicly traded Dime Community Bancshares, Inc., whose shares trade on Nasdaq under the symbol DCOM. Its positioning combines the relationship orientation of a community bank with a growing emphasis on commercial and small-business banking. The bank’s long operating history, branch network, mortgage capabilities, and business-lending platform form the central elements of its current identity.

Dime Community Bank traces its origins to June 1, 1864, when it opened in Williamsburg, Brooklyn, as the Dime Savings Bank of Williamsburgh. William Grandy founded the institution as a mutual savings bank serving a growing local population that included many immigrants and lower-income households. Its original location was in the basement of the First National Bank Building at the base of the Williamsburg Bridge. The bank’s early role was primarily local and savings-oriented, reflecting the needs of households that required a reliable place to deposit funds and access basic financial services. As Williamsburg developed and the bank expanded, Dime outgrew its first premises and moved to larger facilities. One of its best-known historic buildings was located at 209 Havemeyer Street, also known as 257 South 5th Street. Built between 1906 and 1908 in a Neoclassical style by Helmle & Huberty, the building was later designated a New York City landmark on March 27, 2018. The site represents the institution’s long connection with Williamsburg and the architectural development of the neighborhood. Dime survived successive economic cycles and changes in the communities it served. A major structural change occurred on June 26, 1996, when it became a publicly traded company. The conversion to public ownership occurred at the same time as its acquisition of Conestoga Bancorp, Inc. and Pioneer Savings Bank. The combined initial public offering and acquisition was described as the first transaction of its kind in the United States. Dime continued its expansion in 1999 by acquiring Financial Bancorp, Inc. and its wholly owned Financial Federal Savings Bank subsidiary for $74 million. The bank’s business mix gradually broadened beyond traditional thrift activities. Although residential mortgages and consumer deposits remained important, Dime increased its focus on commercial real estate, business banking, and lending to small companies. In 2017, it announced approval to operate as an SBA lender, reinforcing a strategy aimed at entrepreneurs and small-business customers. The bank also changed its headquarters location during this period, moving on January 16, 2017, to 300 Cadman Plaza West in Brooklyn Heights. Dime’s corporate structure changed again through its merger with Bridge Bancorp, Inc., the parent company of BNB Bank. The merger of equals closed on February 1, 2021, bringing the two organizations together under Dime Community Bancshares, Inc. The bank is a wholly owned subsidiary of the publicly traded parent, whose Nasdaq ticker is DCOM. Dime Community Bancshares reported $6.7 billion in consolidated assets as of December 31, 2020, according to the referenced historical material. Dime also ranked among the top five institutions in S&P Global Market Intelligence’s thrift ranking for nine consecutive years from 2009 through 2017. Following the merger, Dime maintained a substantial branch presence across Brooklyn, Queens, the Bronx, Nassau County, and Suffolk County. Its current headquarters is in Hauppauge, New York, while Brooklyn remains central to its historical identity and market presence. The branch network supports personal banking, deposits, residential mortgage lending, commercial real-estate finance, business lending, and related treasury or cash-management services. In 2025, Dime announced its first location in Lakewood, New Jersey, signaling measured geographic expansion beyond the New York market. The modern institution therefore combines a 19th-century mutual-savings heritage with a publicly traded, commercially oriented community-bank model.

1. 2025First Lakewood, New Jersey location

   Dime announced the opening of its first location in Lakewood, New Jersey.

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2. 2021Merger with Bridge Bancorp closes

   The merger of equals between Dime Community Bancshares and Bridge Bancorp closed on February 1.

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3. 2018Historic Williamsburg building designated a landmark

   The former Dime building at 209 Havemeyer Street was designated a New York City landmark on March 27.

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4. 2017Headquarters moves to Brooklyn Heights

   The bank moved its headquarters to 300 Cadman Plaza West on January 16.

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5. 2017SBA lending expansion

   Dime received approval to become a Small Business Administration lender as it expanded its business-banking activities.

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6. 1999Financial Bancorp acquisition

   Dime acquired Financial Bancorp, including Financial Federal Savings Bank, for $74 million.

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7. 1996Public conversion and Conestoga acquisition

   Dime became publicly traded on June 26 and simultaneously acquired Conestoga Bancorp and Pioneer Savings Bank.

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8. 1864Dime opens in Williamsburg

   The Dime Savings Bank of Williamsburgh opened on June 1 in Brooklyn, New York, as a mutual savings bank founded by William Grandy.

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A relationship-oriented community bank combining traditional consumer and mortgage services with commercial, business, and small-business banking.

• Consumer deposit accountsRetail banking

  Dime’s consumer banking franchise is built around traditional community-bank deposit services, including checking and savings accounts and other personal banking arrangements. These products support everyday transactions, household savings, and the bank’s long-standing relationship with local residents in Brooklyn, Queens, the Bronx, Long Island, and surrounding markets.

• Residential mortgage lendingMortgage banking

  Residential mortgage lending is one of Dime’s established core offerings. The bank provides financing connected with home purchases and residential property ownership, complementing its deposit franchise and community-branch model. Mortgage banking links the institution to homeowners and real-estate markets across its New York metropolitan-area service territory.

• Commercial real-estate lendingCommercial banking

  Dime serves commercial customers through financing for income-producing and other business-related real estate. Commercial real-estate banking became increasingly important as the institution broadened its focus beyond its historic thrift and residential-mortgage base. The offering is aimed at businesses, property owners, and other commercial borrowers in the bank’s regional markets.

• Business and SBA lendingSmall-business banking2017

  Dime expanded its business-banking platform during the 2010s and received approval in 2017 to operate as a Small Business Administration lender. SBA lending and related business loans allow the bank to serve entrepreneurs and smaller companies that may require structured financing, working capital, or support for expansion and investment.

• Business deposits and cash managementBusiness banking

  The bank’s commercial platform also includes business deposit relationships and associated cash-management services. These offerings help companies manage operating balances, payments, liquidity, and day-to-day banking needs while maintaining a relationship with a regional institution rather than a national universal bank.

• 2021Complete merger with Bridge BancorpM&A

  Dime Community Bancshares and Bridge Bancorp pursued a merger of equals to combine two regional banking organizations.

  What changed. The transaction closed on February 1, 2021, combining the organizations under the Dime Community Bank brand.

  Aftermath. The combined company continued as Dime Community Bancshares, Inc., with Dime Community Bank as its wholly owned banking subsidiary.

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• 2017Increase emphasis on commercial and business bankingStrategy

  Dime sought to diversify beyond traditional consumer and mortgage banking and deepen relationships with local businesses.

  What changed. The bank shifted additional strategic attention to commercial and business banking and obtained SBA-lender approval.

  Aftermath. The move strengthened Dime’s ability to serve small businesses and entrepreneurs across its regional footprint.

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• 1999Acquire Financial BancorpM&A

  Dime continued pursuing regional consolidation after its public conversion and earlier acquisition.

  What changed. Dime acquired Financial Bancorp, Inc. and Financial Federal Savings Bank.

  Aftermath. The acquisition increased Dime’s regional banking scale and broadened its operating base.

  Transaction value. $74 million (1999)

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• 1996Convert to public ownership while acquiring ConestogaStrategy

  Dime was transitioning from its historical mutual-savings structure and seeking expansion through acquisition.

  What changed. On June 26, Dime became publicly traded and acquired Conestoga Bancorp and Pioneer Savings Bank in the same transaction.

  Aftermath. The transaction expanded the organization and established a public-company platform for later growth.

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• 2025Dime opens first Lakewood, New Jersey location

  Dime announced the opening of its first location in Lakewood, New Jersey, extending its branch footprint outside its established New York metropolitan-area base.

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• 2021Dime Community Bancshares and Bridge Bancorp complete merger of equals

  Dime Community Bancshares and Bridge Bancorp, the parent company of BNB Bank, completed a merger of equals on February 1, 2021. The combined organization continued operating under the Dime Community Bank identity.

  M&A
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• 2017Dime receives approval to become an SBA lender

  Dime announced approval to participate as a Small Business Administration lender as part of its effort to expand business banking and serve small companies and entrepreneurs.

  Product launch
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1. Dime Community Bank
2. Dime Community Bank official website