Dime Commercial Bancshares' Q3 revenue hits record on NIM growth
DCOM•Dime Commercial Bancshares reported record Q3 revenue as net interest margin rose to 3.35% from 3.01% a year earlier. Adjusted diluted EPS increased to $0.91 from $0.61.
1. Record quarterly results
The bank said Q3 net income was $39.7 million and net interest income was $121.2 million. Deposits increased 15% and loans rose 8% on an annualized basis versus the linked quarter.
2. Outlook and capital
Dime expects net interest margin and net interest income to continue expanding in coming quarters, and said loan repricing opportunities are expected to continue through 2027. It repurchased 298,003 shares and reported a $2.2 billion cash position.
