BROOKLYN, NY--(Marketwired - September 29, 2016) - Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the "Company" or "Dime") announced today that the Company was named to the Class of 2016 Sandler O'Neill + Partners, L.P. ("Sandler O'Neill") Small-Cap All Stars. To earn 2016 All-Star status, banks and thrifts with market capitalization below $2.5 billion needed to outperform industry peers in terms of balance sheet growth, profitability, credit quality, and capital strength.
Kenneth J. Mahon, Dime's President and Chief Operating Officer, said, "Dime is honored to be recognized by Sandler O'Neill as one of their All-Star companies for 2016, which identifies Dime as one of the top performing small cap banks and thrifts in the nation. This award also reflects the continued successful execution of our strategic plan, and our focus on Dime's two competitive advantages: low operating costs and stellar credit quality, which leads to low credit costs."
Sandler O'Neill + Partners, L.P., a full-service investment banking firm with a focus on the financial services industry, noted that this year's 27 All-Stars were chosen from 408 publicly traded small cap banks and thrifts. To earn All-Star status, banks and thrifts with market capitalization below $2.5 billion needed to outperform industry medians on five key metrics: earnings per share growth, loan growth, deposit growth, return on average equity, and non-performing assets relative to loans and other real estate owned. In addition, these banks had to report a net charge-off ratio over the last 12 months of less than 25 basis points and a tangible common equity ratio of greater than 7.0%.
ABOUT DIME COMMUNITY BANCSHARES, INC.
Dime Community Bancshares, Inc. had $5.56 billion in consolidated assets as of June 30, 2016, and is the parent company of the Dime Community Bank (the "bank"). The bank 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 the bank can be found on Dime's website at www.dime.com.