{"id":520568,"date":"2021-07-30T06:03:06","date_gmt":"2021-07-30T10:03:06","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/dime-community-bancshares-inc-reports-295-increase-in-net-income-year-over-year\/"},"modified":"2021-07-30T06:03:06","modified_gmt":"2021-07-30T10:03:06","slug":"dime-community-bancshares-inc-reports-295-increase-in-net-income-year-over-year","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/dime-community-bancshares-inc-reports-295-increase-in-net-income-year-over-year\/","title":{"rendered":"Dime Community Bancshares, Inc. Reports 295% Increase in Net Income Year-Over-Year"},"content":{"rendered":"
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\n Continued Focus on Enhancing Greater Long Island\u2019s Premier Deposit Franchise <\/strong>
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\n Cost of Deposits Declines to 0.17% and Non-Interest-Bearing Deposits Increase to 33.3% of Total Deposits<\/strong>\n <\/p>\n

\n PPP Sale and Strong Earnings Result in Linked Quarter Increase in Capital Ratios<\/strong>\n <\/p>\n

HAUPPAUGE, N.Y., July 30, 2021 (GLOBE NEWSWIRE) — Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the \u201cCompany\u201d or \u201cDime\u201d or \u201cits\u201d), the parent company of Dime Community Bank (the \u201cBank\u201d), today reported net income available to common stockholders of $49.5 million for the quarter ended June 30, 2021, or $1.19 per diluted common share, compared with a net loss available to common stockholders of $22.9 million for the quarter ended March 31, 2021, or $0.66 per diluted common share, and net income available to common stockholders of $11.8 million for the quarter ended June 30, 2020, or $0.55 per diluted common share.<\/p>\n

Adjusted net income to common stockholders (non-GAAP) totaled $39.1 million for the quarter ended June 30, 2021, or $0.94 per diluted share1<\/sup>. Adjusted net income to common stockholders includes the following primary adjustments:<\/p>\n