Dime Community Bancshares (NASDAQ:DCOM) shares traded higher Wednesday after the Hauppauge-based bank reported record fourth-quarter revenue and a massive year-over-year surge in profitability, driven by its transformation into a "commercial and private banking powerhouse."
Dime reported fourth-quarter net income of $30 million, or $0.68 per diluted share, a sharp recovery from the net loss of $22.2 million reported in the same period last year.
On an adjusted basis, diluted EPS reached $0.79, beating analyst consensus of $0.70.
For the full year 2025, the bank delivered net income of $103.4 million, representing a nearly five-fold increase over 2024’s results.
The bank's performance was bolstered by record quarterly revenue of $124 million, supported by a healthy 3.11% Net Interest Margin (NIM).
Management attributed this growth to the hiring of specialized deposit-gathering teams and a successful pivot toward business lending.
During the period under review, Core deposits (excluding brokered and time deposits) surged by $1.26 billion year-over-year, while business loans grew by $514 million over the same period.