Dime Community Bancshares, Inc. Provides Status Update on Loan Deferrals
January 12 2021 - 8:00AM
Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or
“Dime” or “its”), the parent company of Dime Community Bank (the
“Bank”), announced today a status update on loan deferrals within
its portfolio. The Company is seeing positive trends as loans
continue to exit deferment.
As of December 31, 2020, Principal and Interest (“P&I”)
deferrals decreased to $37.1 million or 0.7% of the total loan
portfolio. An additional 3.4% of our portfolio is comprised of
loans that are paying full interest and escrow, and only deferring
principal payments.
Mr. Kenneth J. Mahon, Chief Executive Officer (“CEO”) of the
Company, commented, “We are encouraged by the positive trends we
are seeing in our loan portfolio. The decrease in our deferrals is
a result of our ability to work closely with our borrowers towards
reasonable resolutions.”
ABOUT DIME COMMUNITY BANCSHARES,
INC.The Company had $6.62 billion in consolidated assets
as of September 30, 2020. The Bank was founded in 1864, is
headquartered in Brooklyn, New York, and currently has 28 retail
branches located throughout Brooklyn, Queens, the Bronx, Nassau and
Suffolk Counties, New York. More information on the Company and the
Bank can be found on Dime's website at www.dime.com.
Contact: Avinash
ReddySenior Executive Vice President – Chief
Financial Officer718-782-6200 extension
5909
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