Dime Community Bancshares Inc (NAS:DCOM)
$ 18.19 0.48 (2.71%) Market Cap: 708.87 Mil Enterprise Value: 1.48 Bil PE Ratio: 10.22 PB Ratio: 0.63 GF Score: 75/100
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Q3 2021 Dime Community Bancshares Inc Earnings Call Transcript

Oct 29, 2021 / 12:30PM GMT
Release Date Price: $35.68 (+3.15%)
Operator

Good morning, and welcome to the Dime Community Bancshares, Inc. third quarter earnings call. (Operator Instructions) Please note this event is being recorded.

I would now like to turn the conference over to Kevin O'Connor, Chief Executive Officer. Please go ahead.

Kevin M. O;Connor
Dime Community Bancshares, Inc. - CEO & Director

' -

Thank you, Andrew, and thank you all for joining us this morning on our third quarter conference call. With me again are Stu Lubow, our President and Chief Operating Officer; and Avi Reddy, our CFO.

We had a strong quarter with net income of $36.5 million or $0.89 per share. Adjusting for onetime expenses associated with the previously announced branch closures and merger-related items, the net income was $41.4 million or $1.01 per share. Our adjusted ROA was 1.37%, and we continue to operate the bank at a sub-50% efficiency ratio, delivering on our stated merger goals.

Our employees have spent a tremendous amount of time putting together a new organization internally in terms of

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