Dime Community Bancshares Inc (NAS:DCOM)
$ 18.15 -0.04 (-0.22%) Market Cap: 707.31 Mil Enterprise Value: 1.48 Bil PE Ratio: 10.20 PB Ratio: 0.63 GF Score: 73/100
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Q1 2024 Dime Community Bancshares Inc Earnings Call Transcript

Apr 23, 2024 / 01:00PM GMT
Release Date Price: $19.43 (+1.89%)
Operator

Good day and thank you for standing by, and welcome to the Dime Community Bancshares first-quarter earnings call. (Operator Instructions) Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, Stuart Lubow, President and CEO. Please go ahead.

Stuart Lubow
Dime Community Bancshares Inc - President, Chief Executive Officer, Chief Operating Officer, Director

Thank you, Marvin, and thank you all for joining us this morning for our first-quarter earnings call. With me today is Avi Reddy, our CFO.

Dime has begun 2024 on solid footing and on a positive growth trajectory. In the first quarter, we grew core deposits by 19% on an annual basis, paid down our Federal Home Loan Bank borrowings by 41%, maintained solid asset quality, increased or risk-based capital ratios, prudently managed expenses, and importantly saw our net interest margin expand in the month of March versus year end and January levels.

We have been active on the hiring front, and since the

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