The story
Dime Commercial Bank first opened in Brooklyn on June 1, 1864. Founded by William Grandy, Dime was established as a mutual savings bank serving the growing immigrant and low-income populations in the area.
Dime weathered a series of economic ups and downs as conditions in Williamsburg changed, finally incorporating and becoming a publicly traded company on June 26, 1996. At the same time, Dime acquired Conestoga Bancorp, Inc. and its wholly owned subsidiary, Pioneer Savings Bank, making it the first simultaneous IPO/acquisition of its kind in the nation.
In 1999, Dime acquired Financial Bancorp, Inc. (Financial Federal Savings Bank) for $74 million.
The bank is a wholly owned subsidiary of Dime Commercial Bancshares, Inc. (NYSE: DCOM), a publicly owned company. Dime Commercial Bancshares posted $6.7 billion in consolidated assets as of December 31, 2020. Dime finished among the top 5 on the S&P Global Market Intelligence thrift ranking ("S&P Global") for 9 consecutive years, from 2009 to 2017.
In 2017, Dime began to shift their focus to commercial and business banking. In August 2017, Dime announced they had been approved as a Small Business Administration (SBA) lender. The CEO, Kenneth J. Mahon, said, “the launch of our SBA lending program continues the expansion of our Business Banking division...We recognize that small businesses and entrepreneurs are important to the economic vibrancy of the communities we serve.”
Dime Commercial Bank operates 60+ branches throughout the New York metropolitan area in Brooklyn, Queens, the Bronx, Nassau, and Suffolk Counties.
In 2025, Dime announced the opening of its first location in Lakewood, situated in Lakewood, New Jersey (Lakewood).
From Wikipedia’s article on Dime Community Bank, shared under CC BY-SA 4.0.6