From The Motley Fool · The Motley Fool Team · · 40s
Dime Commercial Bancshares: 3 Key Takeaways for Long-Term Investors
Dime Commercial Bancshares acquires Empire State Bank to boost New York City branch reach and commercial lending.
In brief
Dime Commercial Bancshares acquires Empire State Bank to boost New York City branch reach and commercial lending. Dime Commercial Bancshares acquired Empire State Bank to expand New York City branch presence and strengthen commercial lending for long-term investors. Originally reported by The Motley Fool.
Commercial Business Loans Expanded by 30% Year over Year
Commercial business loans grew 30% year over year to $929 million.
“Year-over-year growth in business loans was approximately $929 million, which represents 30% year-over-year increase.”
Acquiring Empire State Bank Completes New York City Footprint
Dime acquires Empire State Bank to add $600 million-asset branch in Staten Island.
“The acquisition adds a $600 million-asset commercial bank in Staten Island to strengthen core retail funding.”
Portfolio De-Risking Targets Higher Long-Term Return on Assets
Dime reduces commercial real estate concentration to 338% of capital for higher ROA.
“Management reduced its commercial real estate (CRE) concentration ratio to 338% of capital to lower risk relative to regional peers.”
The short version
Dime Commercial Bancshares acquired Empire State Bank to expand New York City branch presence and strengthen commercial lending for long-term investors.
