第 1

附录99.1

Dime Community Bancshares, Inc.报告2024年第三季度业绩

核心存入资金增长加速，推动季度净利息收益率增至2.50%

资产负债表处于良好位置，将受惠于美联储降息。

Hauppauge, NY, 2024年10月22日（全球新闻社） - Dime Community Bancshares, Inc.（NASDAQ：DCOM）（以下简称“公司”或“Dime”）及其附属公司Dime Community Bank（以下简称“银行”），今天公布其2024年9月30日结束的季度普通股东应占净利润1150万美元，每股摊薄普通股为0.29美元，相比于2024年6月30日结束的季度的1670万美元或每股摊薄普通股0.43美元，以及2023年9月30日结束的季度的1320万美元或每股摊薄普通股0.34美元。

该公司总裁兼首席执行官（“CEO”）斯图尔特·H·卢博表示：“低成本核心存款的强势增长推动净利息收益率在上季度出现显著扩展。重要的是，在最近联邦基金利率下调50个基点后，我们降低了存款成本，并期望在第四季度及以后受益于这些措施。自9月中旬美联储降息以来，贷款加权平均利率与核心存款之间的利差改善约15个基点。我们预计这种利差改善的全季影响将推动第四季度持续扩展的净利息收益率。”

卢博先生评论道：“在第三季度，我们的业务贷款组合增加了超过12000万美元，我们在中市场和医疗保健垂直领域仍然拥有强劲的管道。与前一季度相比，净核心损失和被批评和分类贷款的水平保持稳定，我们继续谨慎建立我们的信贷损失准备金以匹配贷款和风险资本水平。总的来说，我对我们的员工感到非常自豪，他们始终专注于客户，使我们成为长岛业务银行的首选。

2024年第三季度的亮点包括：

●

总存款比2024年第二季度增加了38900万美元；

●

核心存款（不包括经纪和定期存款）比2024年第二季度增加了50500万美元；

●

2024年第三季度无息存款平均值与总存款平均值的比率为29%，较2024年第二季度的28%高；

●

总存款成本比上季度降低4个基点；

●

2024年第三季度净利息收益率增至2.50%，较上季度的2.41%上升；

●

贷款存款比于第三季度末降至95.4%，较上一季度的98.2%下降；

●

2024年第三季度平均贷款的呆帐损失率为0.15%，相比上一季度的0.14%；

●

信贷损失准备与总贷款比率截至第三季度结束时增至0.78%，较上一季度的0.72%提高；和

●

公司的总风险资本比率截至第三季度结束时提高至14.76%，较上一季度的14.46%增加。

第 2

管理层对季度营运结果的讨论

净利息收入

2024年第三季度的净利息收益为$7990万，较2024年第二季度的$7550万和2023年第三季度的$7650万。

下表提供了报告的净利息收益率（“NIM”）和排除买入会计折价对贷款组合影响的调整后NIM的调解。


(以千美元计)	Q3 2024			Q2 2024			Q3 2023
净利息收益	$	79,924		$	75,502		$	76,479
购买会计上的贷款摊销（增值）（"PAA"）		(266)			(101)			186
调整后的不包括贷款上的PAA的净利息收益（非GAAP）	$	79,658		$	75,401		$	76,665

平均利息收入资产	$	12,734,246		$	12,624,556		$	12,984,061

净利息差（NIM）⁽¹⁾		2.50	%		2.41	%		2.34	%
调整后的净利息收益率不包括贷款上的PAA（非GAAP）⁽²⁾		2.49	%		2.40	%		2.34	%

(1)	净利息收益率表示净利息收入除以平均利息收入资产。

(2)	调整后的净利息收益率不包括贷款上的PAA，这表示调整后的净利息收入，除以平均利息收入资产，并排除收购贷款上的PAA摊销。

于2024年6月30日结束的季度中，先前处于非应计状态的贷款利息收入有所回升，金额为130万美元。除去此项影响，第二季度净利息收益率为2.37%。

贷款组合

于2024年9月30日截至，贷款组合的结束账面利率（WAR）为5.40%，较2024年6月30日贷款组合结束WAR的5.39%略微增加1个基点。

以下是截至指定日期结束的贷款余额和WAR。


	2024年9月30日				2024年6月30日				2023年9月30日
(以千美元计)	相关价格在活跃市场上未被引用的相同财务资产		战争⁽¹⁾		相关价格在活跃市场上未被引用的相同财务资产		战争⁽¹⁾		相关价格在活跃市场上未被引用的相同财务资产		战争⁽¹⁾
户头结束时持有的投资贷款余额：
业务贷款 ⁽²⁾	$	2,653,624	6.82	%	$	2,530,896	6.92	%	$	2,271,768	6.72	%
一至四单位家庭住宅，包括公寓和合作公寓		934,209	4.65			906,949	4.55			892,869	4.39
多家庭住宅和居住兼用 ⁽³⁾⁽⁴⁾		3,866,931	4.60			3,920,354	4.59			4,102,024	4.45
非自住商业房地产		3,281,923	5.25			3,315,100	5.25			3,374,281	5.09
收购、发展与施工		149,299	8.46			144,860	8.96			203,402	8.92
其他贷款		6,058	10.71			6,699	3.39			6,267	6.28
投资持有的贷款	$	10,892,044	5.40	%	$	10,824,858	5.39	%	$	10,850,611	5.20	%

⁽¹⁾根据每一类贷款的当前贷款利率计算WAR，经调整非应计贷款，除以该类贷款的总余额。

⁽²⁾商业贷款包括商业和工业贷款以及自有商业房地产贷款。

⁽³⁾包括多户合作式公寓下的贷款。

⁽⁴⁾虽然此类贷款通常被视为"商业房地产业"，但为了强调构成总贷款组合重要组成部分且基础抵押品具有住宅性质，多户和合作式公寓下的贷款被单独报告，与商业房地产贷款分开。

以下列出各项贷款成立情况，截至所示季度结束。


（以百万美元计）	Q3 2024		Q2 2024		Q3 2023
贷款来源	$	122.7	$	162.4	$	153.4

页面 3

存款及借贷资金

期末存款总额 (包括二零二四年九月三十日按揭托管存款）为 11.42 亿美元，与二零二四年六月三十日的 11,03 亿美元和 2023 年十二月三十一日的 10.53 亿美元。

在 2024 年 9 月 30 日，联邦房屋贷款银行预付总额为 508.0 亿美元，而 2024 年 6 月 30 日的 633.0 亿美元和 2023 年 12 月 31 日为 1.331 亿美元。

Lubow 先生表示：「在 2024 年第三季，我们继续利用核心存款增长来减少批发资金位置的策略。」

非利息收入

非利息收入在 2024 年第三季度为 7.6 万美元，2024 年第二季度为 11.8 万美元，2023 年第三季度为 7.9 亿美元。在 2024 年第二季度的非利息收入中包括与房屋出售有关的收入约为 3.7 万美元。

非利息费用

在 2024 年第三季度的非利息支出总额为 57,7 万美元，2024 年第二季度为 557 万美元，2023 年第三季度为 59.5 万美元。排除影响该 2024 年第三季度偿还债务、其他无形资产摊销及解散费用、调整的非利息开支的亏损为 57,4 百万元，2024 年第二季为 55,4 百万元，2023 年第三季度为 50.6 百万元（请参阅本新闻稿末的「非 GAAP 调节」表）。

卢博先生表示：「正如我们之前所述，非利息开支的增加是由于私人和商业银行和中间市场 C&I 贷款业务进行了大量投资和招聘。第三季度业绩反映了这些计划的全面运行利率，我们预计在 2024 年第四季将维持我们的支出基础相对平坦。」

在 2024 年第三季，非利息开支与平均资产的比率为 1.71%，而相关季度为 1.66% 和 2023 年第三季的 1.73%。不包括损失对债务消除、其他无形资产摊销和解散费用的影响，调整后的非利息开支与平均资产的比率为 1.70%，而相关季度的 1.65% 和 2023 年第三季的 1.48%（请参阅本新闻稿末的「非 GAAP 调节」表）。

在 2024 年第三季，效率比率为 65.9%，而相关季度为 63.8%，2023 年第三季则为 70.5%。排除影响出售证券及其他资产所产生的净 (收益) 亏损、持有供出售之股份证券及贷款公平价值变动、解散费用；偿还债务损失及其他无形资产摊销，调整后的效率在 2024 年第三季度为 65.6%，而相关季度为 65.9% 和 2023 年第三季的 59.7%（请参阅本新闻稿末的「非 GAAP 调节」表）。

所得税费用

2024 年第三季报告的实际税率为 26.9%，而 2024 年第二季的 29.0%，2023 年第三季的 35.1%。

信用品质

截至二零二四年九月三十日，非行业贷款为 49,5 百万元，而上一季度则为 24.8 百万元。

2024 年第三季度录得 11.6 万美元的信贷损失预备金，而 2024 年第二季的信贷损失预备金为 5.6 万美元，而 2023 年第三季则为 1.8 万美元的信贷损失预备。

资本管理

截至 2024 年 9 月 30 日，本公司及本行的监管资本比率继续超出所有适用监管规定。所有基于风险的监管资本比率在 2024 年第三季都上升。

在 2024 年第三季和第二季度，每股股息分别为 0.25 美元。

截至二零二四年九月三十日，每股普通股帐面值为 29.31 美元，而二零二四年六月三十日则为 28.97 美元。

Page 4

Tangible common book value per share (which represents common equity less goodwill and other intangible assets, divided by the number of shares outstanding) was $25.22 at September 30, 2024 compared to $24.87 at June 30, 2024 (see “Non-GAAP Reconciliation” tables at the end of this news release).

Earnings Call Information

The Company will conduct a conference call at 9:00 a.m. (ET) on Tuesday, October 22, 2024, during which CEO Lubow will discuss the Company’s third quarter 2024 financial performance, with a question-and-answer session to follow.

Participants may access the conference call via webcast using this link: https://edge.media-server.com/mmc/p/hfnjf6ym. To participate via telephone, please register in advance using this link: https://register.vevent.com/register/BI017781a02def49c0ad228b72ba201600. Upon registration, all telephone participants will receive a one-time confirmation email detailing how to join the conference call, including the dial-in number along with a unique PIN that can be used to access the call. All participants are encouraged to dial-in 10 minutes prior to the start time.

A replay of the conference call and webcast will be available on-demand for 12 months at https://edge.media-server.com/mmc/p/hfnjf6ym.

ABOUT DIME COMMUNITY BANCSHARES, INC.

Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over $13.7 billion in assets and the number one deposit market share among community banks on Greater Long Island⁽¹⁾.

⁽¹⁾ Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets.

This news release contains a number of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements may be identified by use of words such as “annualized," “anticipate," "believe," “continue,” "could," "estimate," "expect," "intend," “likely,” "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar terms and phrases, including references to assumptions.

Forward-looking statements are based upon various assumptions and analyses made by the Company in light of management's experience and its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate under the circumstances. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors (many of which are beyond the Company's control) that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Accordingly, you should not place undue reliance on such statements. Factors that could affect our results include, without limitation, the following: the timing and occurrence or non-occurrence of events may be subject to circumstances beyond the Company’s control; there may be increases in competitive pressure among financial institutions or from non-financial institutions; changes in the interest rate environment may affect demand for our products and reduce interest margins and the value of our investments; changes in deposit flows, the cost of funds, loan demand or real estate values may adversely affect the business of the Company; changes in the quality and composition of the Company’s loan or investment portfolios or unanticipated or significant increases in loan losses may negatively affect the Company’s financial condition or results of operations; changes in accounting principles, policies or guidelines may cause the Company’s financial condition to be perceived differently; changes in corporate and/or individual income tax laws may adversely affect the Company's financial condition or results of operations; general socio-economic conditions, public health emergencies, international conflict, inflation, and recessionary pressures, either nationally or locally in some or all areas in which the Company conducts business, or conditions in the securities markets or the banking industry may be less favorable than the Company currently anticipates and may adversely affect our customers, our financial results and our operations; legislation or regulatory changes may adversely affect the Company’s business; technological changes may be more difficult or expensive than the Company anticipates; there may be failures or breaches of information technology security systems; success or consummation of new business initiatives may be more difficult or expensive than the Company anticipates; there may be difficulties or unanticipated expense incurred in the consummation of new business initiatives or the integration of any acquired entities; and litigation or other matters before regulatory agencies, whether currently existing or commencing in the future, may delay the occurrence or non-occurrence of events longer than the Company anticipates. For discussion of these and other risks that may cause actual results to differ from expectations, please refer to the sections entitled “Forward-Looking Statements” and “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and updates set forth in the Company’s subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

Contact: Avinash Reddy
Senior Executive Vice President – Chief Financial Officer
718-782-6200 extension 5909

Page 5

DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(In thousands)


	September 30,		June 30,		December 31,
	2024		2024		2023
Assets:
Cash and due from banks	$	626,056	$	413,983	$	457,547
Securities available-for-sale, at fair value		774,608		819,222		886,240
Securities held-to-maturity		592,414		588,000		594,639
Loans held for sale		13,098		14,766		10,159
Loans held for investment, net:
Business loans ⁽¹⁾		2,653,624		2,530,896		2,310,379
One-to-four family and cooperative/condominium apartment		934,209		906,949		889,236
Multifamily residential and residential mixed-use ⁽²⁾⁽³⁾		3,866,931		3,920,354		4,017,703
Non-owner-occupied commercial real estate		3,281,923		3,315,100		3,381,842
Acquisition, development and construction		149,299		144,860		168,513
Other loans		6,058		6,699		5,755
Allowance for credit losses		(85,221)		(77,812)		(71,743)
Total loans held for investment, net		10,806,823		10,747,046		10,701,685
Premises and fixed assets, net		35,066		36,054		44,868
Premises held for sale		—		—		905
Restricted stock		64,235		68,445		98,750
Bank Owned Life Insurance ("BOLI")		372,367		354,761		349,816
Goodwill		155,797		155,797		155,797
Other intangible assets		4,181		4,467		5,059
Operating lease assets		48,537		51,703		52,729
Derivative assets		105,636		134,489		122,132
Accrued interest receivable		54,578		55,588		55,666
Other assets		93,133		104,442		100,013
Total assets	$	13,746,529	$	13,548,763	$	13,636,005
Liabilities:
Non-interest-bearing checking (excluding mortgage escrow deposits)	$	3,231,160	$	3,012,481	$	2,884,378
Interest-bearing checking		938,070		633,721		515,987
Savings (excluding mortgage escrow deposits)		1,845,266		2,340,222		2,335,354
Money market		3,898,509		3,607,090		3,125,996
Certificates of deposit		1,416,467		1,382,271		1,607,683
Deposits (excluding mortgage escrow deposits)		11,329,472		10,975,785		10,469,398
Non-interest-bearing mortgage escrow deposits		87,841		52,647		61,121
Interest-bearing mortgage escrow deposits		5		2		136
Total mortgage escrow deposits		87,846		52,649		61,257
FHLBNY advances		508,000		633,000		1,313,000
Subordinated debt, net		272,300		262,814		200,196
Derivative cash collateral		68,960		130,090		108,100
Operating lease liabilities		51,362		54,530		55,454
Derivative liabilities		98,108		122,567		121,265
Other liabilities		66,552		66,732		81,110
Total liabilities		12,482,600		12,298,167		12,409,780
Stockholders' equity:
Preferred stock, Series A		116,569		116,569		116,569
Common stock		416		416		416
Additional paid-in capital		488,607		488,760		494,454
Retained earnings		827,690		826,080		813,007
Accumulated other comprehensive loss ("AOCI"), net of deferred taxes		(72,970)		(82,780)		(91,579)
Unearned equity awards		(10,111)		(12,023)		(8,622)
Treasury stock, at cost		(86,272)		(86,426)		(98,020)
Total stockholders' equity		1,263,929		1,250,596		1,226,225
Total liabilities and stockholders' equity	$	13,746,529	$	13,548,763	$	13,636,005

⁽¹⁾ Business loans include commercial and industrial loans, owner-occupied commercial real estate loans and Paycheck Protection Program (“PPP”) loans.

⁽²⁾ Includes loans underlying multifamily cooperatives.

⁽³⁾ While the loans within this category are often considered "commercial real estate" in nature, multifamily and loans underlying cooperatives are here reported separately from commercial real estate loans in order to emphasize the residential nature of the collateral underlying this significant component of the total loan portfolio.

Page 6

DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

(Dollars in thousands except share and per share amounts)


	Three Months Ended						Nine Months Ended
	September 30,		June 30,		September 30,		September 30,		September 30,
	2024		2024		2023		2024		2023
Interest income:
Loans	$	151,828	$	147,099	$	142,995	$	442,492	$	409,744
Securities		7,766		7,907		7,916		23,553		24,261
Other short-term investments		4,645		4,412		6,930		18,621		16,599
Total interest income		164,239		159,418		157,841		484,666		450,604
Interest expense:
Deposits and escrow		74,025		72,878		62,507		219,972		152,395
Borrowed funds		8,764		9,033		16,925		32,494		50,855
Derivative cash collateral		1,526		2,005		1,930		5,244		4,904
Total interest expense		84,315		83,916		81,362		257,710		208,154
Net interest income		79,924		75,502		76,479		226,956		242,450
Provision (recovery) for credit losses		11,603		5,585		1,806		22,398		(950)
Net interest income after provision (recovery)		68,321		69,917		74,673		204,558		243,400
Non-interest income:
Service charges and other fees		4,267		3,972		3,963		12,783		12,633
Title fees		190		294		291		617		829
Loan level derivative income		132		1,085		783		1,623		6,353
BOLI income		2,606		2,484		2,317		7,551		7,332
Gain on sale of Small Business Administration ("SBA") loans		19		113		335		385		1,061
Gain on sale of residential loans		38		27		21		142		103
Fair value change in equity securities and loans held for sale		39		(416)		(299)		(1,219)		(1,079)
Net loss on sale of securities		—		—		—		—		(1,447)
Gain (loss) on sale of other assets		2		3,695		(22)		6,665		(22)
Other		338		554		539		1,359		1,571
Total non-interest income		7,631		11,808		7,928		29,906		27,334
Non-interest expense:
Salaries and employee benefits		36,132		32,184		30,520		100,353		87,054
Severance		—		—		8,562		42		9,068
Occupancy and equipment		7,448		7,409		7,277		22,225		21,794
Data processing costs		4,544		4,405		4,309		13,262		12,744
Marketing		1,629		1,637		2,079		4,763		5,016
Professional services		2,036		2,766		1,277		6,269		4,876
Federal deposit insurance premiums		2,105		2,250		1,866		6,594		5,613
Loss on extinguishment of debt		1		—		—		454		—
Amortization of other intangible assets		286		285		349		878		1,075
Other		3,548		4,758		3,284		11,094		11,944
Total non-interest expense		57,729		55,694		59,523		165,934		159,184
Income before taxes		18,223		26,031		23,078		68,530		111,550
Income tax expense		4,896		7,552		8,093		19,033		31,764
Net income		13,327		18,479		14,985		49,497		79,786
Preferred stock dividends		1,822		1,822		1,822		5,465		5,465
Net income available to common stockholders	$	11,505	$	16,657	$	13,163	$	44,032	$	74,321
Earnings per common share ("EPS"):
Basic	$	0.29	$	0.43	$	0.34	$	1.13	$	1.92
Diluted	$	0.29	$	0.43	$	0.34	$	1.13	$	1.92

Average common shares outstanding for diluted EPS		38,366,619		38,329,485		38,203,961		38,317,223		38,177,704

Page 7

DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES

UNAUDITED SELECTED FINANCIAL HIGHLIGHTS

(Dollars in thousands except per share amounts)


	At or For the Three Months Ended									At or For the Nine Months Ended
	September 30,			June 30,			September 30,			September 30,			September 30,
	2024			2024			2023			2024			2023
Per Share Data:
Reported EPS (Diluted)	$	0.29		$	0.43		$	0.34		$	1.13		$	1.92
Cash dividends paid per common share		0.25			0.25			0.25			0.75			0.74
Book value per common share		29.31			28.97			28.03			29.31			28.03
Tangible common book value per share ⁽¹⁾		25.22			24.87			23.87			25.22			23.87
Common shares outstanding		39,152			39,148			38,811			39,152			38,811
Dividend payout ratio		86.21	%		58.14	%		73.53	%		66.37	%		38.54	%

Performance Ratios (Based upon Reported Net Income):
Return on average assets		0.39	%		0.55	%		0.44	%		0.49	%		0.78	%
Return on average equity		4.19			5.88			4.91			5.24			8.78
Return on average tangible common equity ⁽¹⁾		4.70			6.88			5.69			6.06			10.73
Net interest margin		2.50			2.41			2.34			2.37			2.52
Non-interest expense to average assets		1.71			1.66			1.73			1.63			1.56
Efficiency ratio		65.9			63.8			70.5			64.6			59.0
Effective tax rate		26.87			29.01			35.07			27.77			28.48

Balance Sheet Data:
Average assets	$	13,502,753		$	13,418,441		$	13,759,493		$	13,571,710		$	13,623,570
Average interest-earning assets		12,734,246			12,624,556			12,984,061			12,791,233			12,853,701
Average tangible common equity ⁽¹⁾		996,578			979,611			943,805			981,614			933,072
Loan-to-deposit ratio at end of period⁽²⁾		95.4			98.2			102.0			95.4			102.0

Capital Ratios and Reserves - Consolidated: ⁽³⁾
Tangible common equity to tangible assets ⁽¹⁾		7.27	%		7.27	%		6.87	%
Tangible equity to tangible assets ⁽¹⁾		8.13			8.14			7.73
Tier 1 common equity ratio		10.16			10.06			9.67
Tier 1 risk-based capital ratio		11.28			11.17			10.76
Total risk-based capital ratio		14.76			14.46			13.33
Tier 1 leverage ratio		8.76			8.78			8.38
Consolidated CRE concentration ratio ⁽⁴⁾		487			499			547
Allowance for credit losses/ Total loans		0.78			0.72			0.67
Allowance for credit losses/ Non-performing loans		172.29			313.21			311.16

⁽¹⁾ See "Non-GAAP Reconciliation" tables for reconciliation of tangible equity, tangible common equity, and tangible assets.

⁽²⁾ Total deposits include mortgage escrow deposits, which fluctuate seasonally.

⁽³⁾	September 30, 2024 ratios are preliminary pending completion and filing of the Company’s regulatory reports.

⁽⁴⁾ The Consolidated CRE concentration ratio is calculated using the sum of commercial real estate, excluding owner-occupied commercial real estate, multifamily, and acquisition, development, and construction, divided by consolidated capital. The September 30, 2024 ratio is preliminary pending completion and filing of the Company’s regulatory reports.

Page 8

DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES

UNAUDITED AVERAGE BALANCES AND NET INTEREST INCOME

(Dollars in thousands)


	Three Months Ended
	September 30, 2024						June 30, 2024						September 30, 2023
					Average						Average						Average
	Average				Yield/		Average				Yield/		Average				Yield/
	Balance		Interest		Cost		Balance		Interest		Cost		Balance		Interest		Cost
Assets:
Interest-earning assets:
Business loans ⁽¹⁾	$	2,609,934	$	46,656	7.11	%	$	2,400,219	$	42,933	7.19	%	$	2,260,203	$	38,384	6.74	%
One-to-four family residential, including condo and coop		924,150		11,024	4.75			886,037		9,968	4.52			879,688		9,165	4.13
Multifamily residential and residential mixed-use		3,902,220		45,790	4.67			3,958,617		45,775	4.65			4,114,476		46,099	4.45
Non-owner-occupied commercial real estate		3,297,760		44,804	5.40			3,359,004		44,728	5.36			3,382,927		44,184	5.18
Acquisition, development, and construction		147,875		3,505	9.43			164,283		3,638	8.91			222,039		5,075	9.07
Other loans		4,891		49	3.99			5,100		57	4.50			6,156		88	5.67
Securities		1,493,492		7,766	2.07			1,537,487		7,907	2.07			1,619,960		7,916	1.94
Other short-term investments		353,924		4,645	5.22			313,809		4,412	5.65			498,612		6,930	5.51
Total interest-earning assets		12,734,246		164,239	5.13	%		12,624,556		159,418	5.08	%		12,984,061		157,841	4.82	%
Non-interest-earning assets		768,507						793,885						775,432
Total assets	$	13,502,753					$	13,418,441					$	13,759,493

Liabilities and Stockholders' Equity:
Interest-bearing liabilities:
Interest-bearing checking ⁽²⁾	$	798,024	$	4,635	2.31	%	$	631,403	$	1,499	0.95	%	$	786,892	$	2,896	1.46	%
Money market		3,771,562		36,841	3.89			3,495,989		33,193	3.82			2,975,267		24,275	3.24
Savings ⁽²⁾		2,102,282		19,492	3.69			2,336,202		23,109	3.98			2,342,424		20,316	3.44
Certificates of deposit		1,232,984		13,057	4.21			1,393,678		15,077	4.35			1,494,491		15,020	3.99
Total interest-bearing deposits		7,904,852		74,025	3.73			7,857,272		72,878	3.73			7,599,074		62,507	3.26
FHLBNY advances		528,652		4,455	3.35			671,242		6,429	3.85			1,250,717		14,370	4.56
Subordinated debt, net		271,450		4,307	6.31			202,232		2,604	5.18			200,232		2,553	5.06
Other short-term borrowings		131		2	6.07			—		—	—			120		2	6.61
Total borrowings		800,233		8,764	4.36			873,474		9,033	4.16			1,451,069		16,925	4.63
Derivative cash collateral		91,305		1,526	6.65			145,702		2,005	5.53			156,795		1,930	4.88
Total interest-bearing liabilities		8,796,390		84,315	3.81	%		8,876,448		83,916	3.80	%		9,206,938		81,362	3.51	%
Non-interest-bearing checking ⁽²⁾		3,209,502						3,042,382						3,065,186
Other non-interest-bearing liabilities		223,546						242,980						265,559
Total liabilities		12,229,438						12,161,810						12,537,683
Stockholders' equity		1,273,315						1,256,631						1,221,810
Total liabilities and stockholders' equity	$	13,502,753					$	13,418,441					$	13,759,493
Net interest income			$	79,924					$	75,502					$	76,479
Net interest rate spread					1.32	%					1.28	%					1.31	%
Net interest margin					2.50	%					2.41	%					2.34	%
Deposits (including non-interest-bearing checking accounts) ⁽²⁾	$	11,114,354	$	74,025	2.65	%	$	10,899,654	$	72,878	2.69	%	$	10,664,260	$	62,507	2.33	%

⁽¹⁾ Business loans include commercial and industrial loans, owner-occupied commercial real estate loans and PPP loans.

⁽²⁾ Includes mortgage escrow deposits.

Page 9

DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES

UNAUDITED SCHEDULE OF NON-PERFORMING ASSETS

(Dollars in thousands)


	At or For the Three Months Ended
	September 30,		June 30,		September 30,
Asset Quality Detail	2024		2024		2023
Non-performing loans ("NPLs")
Business loans⁽¹⁾	$	25,411	$	20,287	$	19,555
One-to-four family residential, including condominium and cooperative apartment		3,880		3,884		2,874
Multifamily residential and residential mixed-use		—		—		—
Non-owner-occupied commercial real estate		19,509		15		15
Acquisition, development, and construction		657		657		657
Other loans		6		—		219
Total Non-accrual loans	$	49,463	$	24,843	$	23,320
Total Non-performing assets ("NPAs")	$	49,463	$	24,843	$	23,320

Total loans 90 days delinquent and accruing ("90+ Delinquent")	$	—	$	—	$	—

NPAs and 90+ Delinquent	$	49,463	$	24,843	$	23,320

NPAs and 90+ Delinquent / Total assets		0.36%		0.18%		0.17%
Net charge-offs ("NCOs")	$	4,199	$	3,640	$	4,864
NCOs / Average loans ⁽²⁾		0.15%		0.14%		0.18%

⁽¹⁾ Business loans include commercial and industrial loans, owner-occupied commercial real estate loans and PPP loans.

⁽²⁾ Calculated based on annualized NCOs to average loans, excluding loans held for sale.

Page 10

DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES

NON-GAAP RECONCILIATION

(Dollars in thousands except per share amounts)

The following tables below provide a reconciliation of certain financial measures calculated under generally accepted accounting principles ("GAAP") (as reported) and non-GAAP measures. A non-GAAP financial measure is a numerical measure of historical or future financial performance, financial position or cash flows that excludes or includes amounts that are required to be disclosed in the most directly comparable measure calculated and presented in accordance with GAAP in the United States. The Company’s management believes the presentation of non-GAAP financial measures provides investors with a greater understanding of the Company’s operating results in addition to the results measured in accordance with GAAP. While management uses these non-GAAP measures in its analysis of the Company’s performance, this information should not be viewed as a substitute for financial results determined in accordance with GAAP or considered to be more important than financial results determined in accordance with GAAP.

The following non-GAAP financial measures exclude pre-tax income and expenses associated with the fair value change in equity securities and loans held for sale, net (gain) loss on sale of securities and other assets, severance, the FDIC special assessment and loss on extinguishment of debt:


	Three Months Ended									Nine Months Ended
	September 30,			June 30,			September 30,			September 30,			September 30,
	2024			2024			2023			2024			2023
Reconciliation of Reported and Adjusted (non-GAAP) Net Income Available to Common Stockholders
Reported net income available to common stockholders	$	11,505		$	16,657		$	13,163		$	44,032		$	74,321
Adjustments to net income ^(1):
Fair value change in equity securities and loans held for sale		(39)			416			299			1,219			1,079
Net (gain) loss on sale of securities and other assets		(2)			(3,695)			22			(6,665)			1,469
Severance		—			—			8,562			42			9,068
Loss on extinguishment of debt		1			—			—			454			—
Income tax effect of adjustments		13			1,043			(176)			1,574			(985)
Adjusted net income available to common stockholders (non-GAAP)	$	11,478		$	14,421		$	21,870		$	40,656		$	84,952

Adjusted Ratios (Based upon Adjusted (non-GAAP) Net Income as calculated above)
Adjusted EPS (Diluted)	$	0.29		$	0.37		$	0.56		$	1.04		$	2.19
Adjusted return on average assets		0.39	%		0.48	%		0.69	%		0.45	%		0.88	%
Adjusted return on average equity		4.18			5.17			7.76			4.89			9.95
Adjusted return on average tangible common equity		4.69			5.97			9.38			5.60			12.25
Adjusted non-interest expense to average assets		1.70			1.65			1.48			1.62			1.46
Adjusted efficiency ratio		65.6			65.9			59.7			65.5			54.7

⁽¹⁾ Adjustments to net income are taxed at the Company's approximate statutory tax rate.

The following table presents a reconciliation of operating expense as a percentage of average assets (as reported) and adjusted operating expense as a percentage of average assets (non-GAAP):


	Three Months Ended						Nine Months Ended
	September 30,		June 30,		September 30,		September 30,		September 30,
	2024		2024		2023		2024		2023
Operating expense as a % of average assets - as reported	1.71	%	1.66	%	1.73	%	1.63	%	1.56	%
Loss on extinguishment of debt	—		—		—		—		—
Severance	—		—		(0.25)		—		(0.09)
Amortization of other intangible assets	(0.01)		(0.01)		—		(0.01)		(0.01)
Adjusted operating expense as a % of average assets (non-GAAP)	1.70	%	1.65	%	1.48	%	1.62	%	1.46	%

Page 11

The following table presents a reconciliation of efficiency ratio (non-GAAP) and adjusted efficiency ratio (non-GAAP):


	Three Months Ended									Nine Months Ended
	September 30,			June 30,			September 30,			September 30,			September 30,
	2024			2024			2023			2024			2023
Efficiency ratio - as reported (non-GAAP)⁽¹⁾		65.9	%		63.8	%		70.5	%		64.6	%		59.0	%
Non-interest expense - as reported	$	57,729		$	55,694		$	59,523		$	165,934		$	159,184
Severance		—			—			(8,562)			(42)			(9,068)
Loss on extinguishment of debt		(1)			—			—			(454)			—
Amortization of other intangible assets		(286)			(285)			(349)			(878)			(1,075)
Adjusted non-interest expense (non-GAAP)	$	57,442		$	55,409		$	50,612		$	164,560		$	149,041
Net interest income - as reported	$	79,924		$	75,502		$	76,479		$	226,956		$	242,450
Non-interest income - as reported	$	7,631		$	11,808		$	7,928		$	29,906		$	27,334
Fair value change in equity securities and loans held for sale		(39)			416			299			1,219			1,079
Net (gain) loss on sale of securities and other assets		(2)			(3,695)			22			(6,665)			1,469
Adjusted non-interest income (non-GAAP)	$	7,590		$	8,529		$	8,249		$	24,460		$	29,882
Adjusted total revenues for adjusted efficiency ratio (non-GAAP)	$	87,514		$	84,031		$	84,728		$	251,416		$	272,332
Adjusted efficiency ratio (non-GAAP)⁽²⁾		65.6	%		65.9	%		59.7	%		65.5	%		54.7	%

(1)	The reported efficiency ratio is a non-GAAP measure calculated by dividing GAAP non-interest expense by the sum of GAAP net interest income and GAAP non-interest income.

(2)	The adjusted efficiency ratio is a non-GAAP measure calculated by dividing adjusted non-interest expense by the sum of GAAP net interest income and adjusted non-interest income.

The following table presents the tangible common equity to tangible assets, tangible equity to tangible assets, and tangible common book value per share calculations (non-GAAP):


	September 30,			June 30,			September 30,
	2024			2024			2023
Reconciliation of Tangible Assets:
Total assets	$	13,746,529		$	13,548,763		$	13,651,405
Goodwill		(155,797)			(155,797)			(155,797)
Other intangible assets		(4,181)			(4,467)			(5,409)
Tangible assets (non-GAAP)	$	13,586,551		$	13,388,499		$	13,490,199

Reconciliation of Tangible Common Equity - Consolidated:
Total stockholders' equity	$	1,263,929		$	1,250,596		$	1,204,344
Goodwill		(155,797)			(155,797)			(155,797)
Other intangible assets		(4,181)			(4,467)			(5,409)
Tangible equity (non-GAAP)		1,103,951			1,090,332			1,043,138
Preferred stock, net		(116,569)			(116,569)			(116,569)
Tangible common equity (non-GAAP)	$	987,382		$	973,763		$	926,569

Common shares outstanding		39,152			39,148			38,811

Tangible common equity to tangible assets (non-GAAP)		7.27	%		7.27	%		6.87	%
Tangible equity to tangible assets (non-GAAP)		8.13			8.14			7.73

Book value per common share	$	29.31		$	28.97		$	28.03
Tangible common book value per share (non-GAAP)		25.22			24.87			23.87