SOURCE: Dime Community Bancshares

Dime Community Bancshares

November 24, 2015 11:30 ET

Commercial Observer Ranks Dime Savings Bank of Williamsburgh Among NYC's Most Prolific Real Estate Lenders

BROOKLYN, NY--(Marketwired - November 24, 2015) - Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the "Company"), the parent company of The Dime Savings Bank of Williamsburgh ("Dime"), announced that The Commercial Observer has ranked Dime as one of the top commercial real estate and multifamily lenders in the New York City area, based on the total number of loans closed in New York in the past year and the total amount lent for those transactions. The Commercial Observer listed Dime as the fourth ranked commercial real estate lender, having originated $1.3 billion in loans from October 1, 2014 to September 30, 2015.

Founded in 1864, Dime is no newcomer to New York's real estate market. The bank's multifamily business has steadily grown under its current Chairman & Chief Executive Officer, Vincent F. Palagiano, who joined Dime in 1970. Leading the bank's commercial real estate and multifamily lending efforts are Daniel J. Harris, Executive Vice President & Chief Lending Officer, and Kirk Lloyd, Senior Vice President, Loan Originations. Dime's management team has a reputation for understanding local real estate conditions and providing flexibility and quick response to brokers and borrowers alike, putting Dime ahead of dozens of its local competitors.

"What keeps us among the leaders in New York City multifamily and commercial real estate lending is our ability to give the customer a competitive deal as well as the best processing and closing experience," Mr. Harris said. "We have originated over $1 billion of loans over the last few years, and since 1996 have consistently ranked in surveys among the top 10 New York City multifamily lenders by volume. Our average loan size is around $3.5 million, and our 'sweet spot' is between $2 million and $20 million. However, we have originated many loans and loan packages much higher than our average."

ABOUT DIME COMMUNITY BANCSHARES AND DIME

The Company (NASDAQ: DCOM) had $4.83 billion in consolidated assets as of September 30, 2015, and is the parent company of Dime. Dime was founded in 1864, is headquartered in Brooklyn, New York, and currently has twenty-five branches located throughout Brooklyn, Queens, the Bronx and Nassau County, New York. More information on the Company and Dime can be found on the Dime's Internet website at www.dime.com.

Contact Information

  • Contact:

    Kenneth Ceonzo
    Director of Investor Relations
    718-782-6200 extension 8279