Dime Community Bancshares, Inc. Reports Strong Fourth Quarter Results with Earnings Per Share Increasing By 15% On a Linked Quarter Basis | DCOM Stock News

Record Quarterly Revenue of $124 Million Organic Growth Strategy and The Hiring of Teams is Paying Dividends With Linked Quarter Growth in Core Deposits of Approximately $800 Million and Business Loans of Over $175 Million HAUPPAUGE, N.Y., Jan. 21, 2026 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the "Company" or "Dime"), the parent company of Dime Community Bank (the "Bank"), today reported net income available to common stockholders of $103.4 million for the year ended December 31, 2025, or $2.36 per diluted common share, compared to net income available to common stockholders of $21.8 million, or $0.55 per diluted common share, for the year ended December 31, 2024. For the quarter ended December 31, 2025, net income available to common stockholders was $30.0 million, or $0.68 per diluted common share, compared to $25.8 million, or $0.59 per diluted common share, for the quarter ended September 30, 2025, and net loss available to common stockholders of $22.2 million, or ($0.54) per diluted common share, for the quarter ended December 31, 2024. Adjusted net income available to common stockholders (non-GAAP) was $34.5 million and adjusted diluted EPS (non-GAAP) was $0.79 per share for the quarter ended December 31, 2025, compared to $0.61 per share for the quarter ended September 30, 2025 and $0.42 for the quarter ended December 31, 2024 (see "Non-GAAP Reconciliation" tables at the end of this news release). Stuart H. Lubow, President and Chief Executive Officer ("CEO") of the Company, stated, "During the fourth quarter, we executed on all aspects of our strategic plan, including: substantial growth in core deposits and business loans, a reduction in the CRE concentration ratio, an improvement in return metrics and efficiency levels, and maintenance of solid asset quality levels. Total fourth quarter revenue of $124 million was a record for Dime, and we anticipate continued revenue growth in the years ahead as we have a significant loan repricing opportunity that will continue through 2027. Our organic growth strategy and the hiring of teams is paying dividends as evidenced by an 88% year-over-year increase in adjusted diluted EPS to $0.79 per share. Thanks to the hard work of all of our bankers and corporate staff, Dime has firmly established itself as a commercial and private banking powerhouse." Highlights for the Fourth Quarter of 2025 included: Adjusted diluted EPS of $0.79 per share for the fourth quarter of 2025, compared to $0.61 per share for the third quarter of 2025;Total deposits increased $1.16 billion on a year-over-year basis;Core deposits (excluding brokered and time deposits) increased $1.26 billion on a year-over-year basis;Average non-interest-bearing deposits to average total deposits for the fourth quarter increased to 30.5% compared to 29.9% for the prior quarter;The loan to deposit ratio declined to 83.8% at the end of the fourth quarter compared to 88.9% for the prior quarter;Business loans grew $177.9 million on a linked quarter basis and $514.0 million on a year-over-year basis;The net interest margin increased to 3.11% for the fourth quarter of 2025 compared to 3.01% for the prior quarter;The efficiency ratio decreased to 52.6% for the fourth quarter of 2025 compared to 53.8% for the prior quarter;The adjusted efficiency ratio decreased to 50.3% for the fourth quarter of 2025 compared to 53.1% for the prior quarter;The Company’s Common Equity Tier 1 Ratio increased to 11.66% at the end of the fourth quarter;The Company’s Consolidated CRE Concentration ratio was proactively managed lower to 387%; andNon-performing assets declined by 27% on a linked quarter basis and represent 0.34% of Total Assets. Management’s Discussion of Quarterly Operating Results Net Interest Income Net interest income for the fourth quarter of 2025 was $112.3 million compared to $103.4 million for the third quarter of 2025 and $91.1 million for the fourth quarter of 2024. The Net Interest Margin for the fourth quarter of 2025 was 3.11% compared to 3.01% for the third quarter of 2025 and 2.79% for the fourth quarter of 2024. Mr. Lubow commented, "We continue to have a significant loan repricing opportunity that will continue through 2027. Additionally, growth in core deposits and business loans will benefit us over time as we continue to grow customers and hire productive bankers. Our substantial liquidity position, which includes $2.35 billion of cash, provides us with the flexibility to be opportunistic and take advantage of lending opportunities as they may arise." Loan Portfolio The ending weighted average rate ("WAR") on the total loan portfolio was 5.27% at December 31, 2025, a 10 basis point decrease compared to the ending WAR of 5.37% on the total loan portfolio at September 30, 2025. Outlined below are loan balances and WARs for the quarter ended as indicated. December 31, 2025 September 30, 2025 December 31, 2024 (Dollars in thousands) Balance WAR(1) Balance WAR(1) Balance WAR(1) Loans held for investment balances at period end: Business loans(2) $3,240,600 6.32%$3,062,674 6.60%$2,726,602 6.56%One-to-four family residential and coop/condo apartment 1,035,983 4.94 1,030,949 4.92 952,195 4.72 Multifamily residential and residential mixed-use(3)(4) 3,424,565 4.46 3,509,811 4.52 3,820,492 4.49 Non-owner-occupied commercial real estate 2,933,287 5.07 2,975,474 5.13 3,231,398 5.13 Acquisition, development, and construction 117,215 7.51 139,145 8.04 136,172 7.95 Other loans 6,558 11.09 7,621 11.14 5,084 10.51 Loans held for investment $10,758,208 5.27%$10,725,674 5.37%$10,871,943 5.26% (1) WAR is calculated by aggregating interest based on the current loan rate from each loan in the category, adjusted for non-accrual loans, divided by the total balance of loans in the category.(2) Business loans include commercial and industrial loans, owner-occupied commercial real estate loans and Paycheck Protection Program ("PPP") loans. (3) Includes loans underlying multifamily cooperatives. (4) While the loans within this category are often considered "commercial real estate" in nature, multifamily and loans underlying cooperatives are reported separately from commercial real estate loans in order to emphasize the residential nature of the collateral underlying this significant component of the total loan portfolio. Outlined below are the loan originations, for the quarter ended as indicated. (Dollars in millions) Q4 2025 Q3 2025 Q4 2024Originations Excluding New Lines of Credit $225.3 $170.6 $187.5Originations Including New Lines of Credit 467.2 535.6 361.2 Deposits and Borrowed Funds Period end total deposits (including mortgage escrow deposits) at December 31, 2025 were $12.84 billion, compared to $12.06 billion at September 30, 2025 and $11.69 billion at December 31, 2024. Mr. Lubow commented, "Deposit growth in the fourth quarter was broad based, across all of our channels, including contributions from the branch network, commercial banking, private banking and municipal banking." Brokered deposits were $200.0 million at December 31, 2025, compared to $200.0 million at September 30, 2025 and $422.8 million at December 31, 2024. Total Federal Home Loan Bank advances were $508.0 million at December 31, 2025, compared to $508.0 million at September 30, 2025 and $608.0 million at December 31, 2024. Non-Interest Income Non-interest income was $11.5 million during the fourth quarter of 2025, $12.2 million during the third quarter of 2025, and a loss of $33.9 million during the fourth quarter of 2024. Fourth quarter 2024 results included $42.8 million of pre-tax loss-on-sale of securities related to the re-positioning of the available-for-sale securities portfolio. Non-Interest Expense Total non-interest expense was $65.1 million during the fourth quarter of 2025, $62.2 million during the third quarter of 2025, and $60.6 million during the fourth quarter of 2024. Excluding the impact of the loss on extinguishment of debt, amortization of other intangible assets, severance expense, settlement loss related to the termination of a legacy pension plan, and the FDIC special assessment, adjusted non-interest expense was $62.3 million during the fourth quarter of 2025, $62.0 million during the third quarter of 2025, and $57.7 million during the fourth quarter of 2024 (see "Non-GAAP Reconciliation" tables at the end of this news release). The ratio of non-interest expense to average assets was 1.72% during the fourth quarter of 2025, compared to 1.73% during the linked quarter and 1.76% during the fourth quarter of 2024. Excluding the impact of the loss on extinguishment of debt, amortization of other intangible assets, severance expense, the FDIC special assessment and settlement loss related to the termination of a legacy pension plan, the ratio of adjusted non-interest expense to average assets was 1.65% during the fourth quarter of 2025, 1.72% during the third quarter of 2025, and 1.68% during the fourth quarter of 2024 (see "Non-GAAP Reconciliation" tables at the end of this news release). The efficiency ratio was 52.6% during the fourth quarter of 2025, compared to 53.8% during the linked quarter and 105.9% during the fourth quarter of 2024. Excluding the impact of net (gain) loss on sale of securities and other assets, fair value change in equity securities and loans held for sale, severance expense, the FDIC special assessment, settlement loss related to the termination of a legacy pension plan, loss on extinguishment of debt and amortization of other intangible assets, the adjusted efficiency ratio was 50.3% during the fourth quarter of 2025, compared to 53.1% during the linked quarter and 58.0% during the fourth quarter of 2024 (see "Non-GAAP Reconciliation" tables at the end of this news release). Income Tax Expense Income tax expense was $16.0 million during the fourth quarter of 2025, $12.4 million during the third quarter of 2025, and $3.3 million during the fourth quarter of 2024. The fourth quarter of 2025 included $2.7 million of net expense from discrete items related to an uncertain tax position and a deferred tax item from prior tax years. The fourth quarter of 2024 included $9.1 million of income tax expense related to the taxable gain and Modified Endowment Contract Tax ("MEC Tax") on the surrender of legacy Bank Owned Life Insurance ("BOLI") assets. Excluding the tax impact of the discrete items noted above, the effective tax rate for the fourth quarter of 2025 was 27.8%. Excluding the tax impact of the BOLI surrender, the fourth quarter 2024 effective rate was a tax benefit of 33.5%. Credit Quality Non-performing loans were $52.3 million at December 31, 2025, compared to $72.1 million at September 30, 2025 and $49.5 million at December 31, 2024. A credit loss provision of $10.9 million was recorded during the fourth quarter of 2025, compared to a credit loss provision of $13.3 million during the third quarter of 2025, and a credit loss provision of $13.7 million during the fourth quarter of 2024. Capital Management Stockholders’ equity increased $23.4 million to $1.48 billion at December 31, 2025, compared to $1.45 billion at September 30, 2025. The Company’s and the Bank’s regulatory capital ratios continued to be in excess of all applicable regulatory requirements as of December 31, 2025. Dividends per common share were $0.25 during the fourth quarter of 2025 and $0.25 for the third quarter of 2025. Book value per common share was $30.99 at December 31, 2025 compared to $30.44 at September 30, 2025. Tangible common book value per share (which represents common equity less goodwill and other intangible assets, divided by the number of shares outstanding) was $27.37 at December 31, 2025 compared to $26.81 at September 30, 2025 (see "Non-GAAP Reconciliation" tables at the end of this news release). Earnings Call Information The Company will conduct a conference call at 8:30 a.m. (ET) on Wednesday, January 21, 2026, during which CEO Lubow will discuss the Company’s fourth quarter 2025 financial performance, with a question-and-answer session to follow. Participants may access the conference call via webcast using this link: https://edge.media-server.com/mmc/p/9ncxg8oo. To participate via telephone, please register in advance using this link: https://register-conf.media-server.com/register/BIddc983f5af2546dbb4f189945a63193d. Upon registration, all telephone participants will receive a one-time confirmation email detailing how to join the conference call, including the dial-in number along with a unique PIN that can be used to access the call. All participants are encouraged to dial-in 10 minutes prior to the start time. A replay of the conference call and webcast will be available on-demand for 12 months at https://edge.media-server.com/mmc/p/9ncxg8oo. ABOUT DIME COMMUNITY BANCSHARES, INC.Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with approximately $15 billion in assets and the number one deposit market share among community banks on Greater Long Island. (1) (1) Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets. This news release contains a number of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements may be identified by use of words such as "annualized," "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "likely," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar terms and phrases, including references to assumptions. Forward-looking statements are based upon various assumptions and analyses made by the Company in light of management's experience and its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate under the circumstances. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors (many of which are beyond the Company's control) that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Accordingly, you should not place undue reliance on such statements. Factors that could affect our results include, without limitation, the following: the timing and occurrence or non-occurrence of events may be subject to circumstances beyond the Company’s control; there may be increases in competitive pressure among financial institutions or from non-financial institutions; changes in the interest rate environment may affect demand for our products and reduce interest margins and the value of our investments; changes in government monetary or fiscal policies and actions may adversely affect our customers, cost of credit and overall result of operations; changes in deposit flows, the cost of funds, loan demand or real estate values may adversely affect the business of the Company; changes in the quality and composition of the Company’s loan or investment portfolios or unanticipated or significant increases in loan losses may negatively affect the Company’s financial condition or results of operations; changes in accounting principles, policies or guidelines may cause the Company’s financial condition to be perceived differently; changes in corporate and/or individual income tax laws may adversely affect the Company's financial condition or results of operations; general socio-economic conditions, public health emergencies, international conflict, inflation, tariffs, and recessionary pressures, either nationally or locally in some or all areas in which the Company conducts business, or conditions in the securities markets or the banking industry may be less favorable than the Company currently anticipates and may adversely affect our customers, our financial results and our operations; legislation or regulatory changes may adversely affect the Company’s business; technological changes may be more difficult or expensive than the Company anticipates; there may be failures or breaches of information technology security systems; success or consummation of new business initiatives may be more difficult or expensive than the Company anticipates; there may be difficulties or unanticipated expense incurred in the consummation of new business initiatives or the integration of any acquired entities; and litigation or other matters before regulatory agencies, whether currently existing or commencing in the future, may delay the occurrence or non-occurrence of events longer than the Company anticipates. For discussion of these and other risks that may cause actual results to differ from expectations, please refer to the sections entitled "Forward-Looking Statements" and "Risk Factors" in the Company’s most recent Annual Report on Form 10-K and updates set forth in the Company’s subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Contact: Avinash ReddySenior Executive Vice President – Chief Operating Officer and Chief Financial Officer718-782-6200 extension 5909 DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIESUNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION(In thousands) December 31, September 30, December 31, 2025 2025 2024Assets: Cash and due from banks$2,353,966 $1,715,044 $1,283,571 Securities available-for-sale, at fair value 797,935 662,667 690,693 Securities held-to-maturity 618,901 623,094 637,339 Loans held for sale 1,989 — 22,625 Loans held for investment, net: Business loans(1) 3,240,600 3,062,674 2,726,602 One-to-four family residential and coop/condo apartment 1,035,983 1,030,949 952,195 Multifamily residential and residential mixed-use(2)(3) 3,424,565 3,509,811 3,820,492 Non-owner-occupied commercial real estate 2,933,287 2,975,474 3,231,398 Acquisition, development and construction 117,215 139,145 136,172 Other loans 6,558 7,621 5,084 Allowance for credit losses (97,372) (94,061) (88,751)Total loans held for investment, net 10,660,836 10,631,613 10,783,192 Premises and fixed assets, net 31,255 32,525 34,858 Restricted stock 67,197 66,989 69,106 BOLI 401,163 396,904 290,665 Goodwill 155,797 155,797 155,797 Other intangible assets 2,938 3,173 3,896 Operating lease assets 42,876 45,402 46,193 Derivative assets 76,315 81,440 116,496 Accrued interest receivable 55,572 57,048 55,970 Other assets 74,891 67,247 162,857 Total assets$15,341,631 $14,538,943 $14,353,258 Liabilities: Non-interest-bearing checking (excluding mortgage escrow deposits)$3,915,081 $3,597,682 $3,355,829 Interest-bearing checking 1,178,281 1,094,995 1,079,823 Savings (excluding mortgage escrow deposits) 1,777,143 1,721,670 1,927,903 Money market 4,806,572 4,425,143 4,198,784 Certificates of deposit 1,117,118 1,138,872 1,069,081 Deposits (excluding mortgage escrow deposits) 12,794,195 11,978,362 11,631,420 Non-interest-bearing mortgage escrow deposits 47,051 83,240 54,715 Interest-bearing mortgage escrow deposits — 5 6 Total mortgage escrow deposits 47,051 83,245 54,721 Total deposits (including mortgage escrow deposits) 12,841,246 12,061,607 11,686,141 FHLBNY advances 508,000 508,000 608,000 Other short-term borrowings — — 50,000 Subordinated debt, net 272,503 272,459 272,325 Derivative cash collateral 52,400 57,260 112,420 Operating lease liabilities 45,729 48,138 48,993 Derivative liabilities 73,573 77,637 108,347 Other liabilities 72,411 61,500 70,515 Total liabilities 13,865,862 13,086,601 12,956,741 Stockholders' equity: Preferred stock, Series A 116,569 116,569 116,569 Common stock 462 461 461 Additional paid-in capital 623,041 622,657 624,822 Retained earnings 854,167 835,083 794,526 Accumulated other comprehensive loss ("AOCI"), net of deferred taxes (31,468) (33,596) (45,018)Unearned equity awards (8,661) (11,332) (7,640)Treasury stock, at cost (78,341) (77,500) (87,203)Total stockholders' equity 1,475,769 1,452,342 1,396,517 Total liabilities and stockholders' equity$15,341,631 $14,538,943 $14,353,258 (1) Business loans include commercial and industrial loans, owner-occupied commercial real estate loans and PPP loans.(2) Includes loans underlying multifamily cooperatives.(3) While the loans within this category are often considered "commercial real estate" in nature, multifamily and loans underlying cooperatives are here reported separately from commercial real estate loans in order to emphasize the residential nature of the collateral underlying this significant component of the total loan portfolio. DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIESUNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS(Dollars in thousands except share and per share amounts) Three Months Ended Year Ended December 31, September 30, December 31, December 31, December 31, 2025 2025 2024 2025 2024Interest income: Loans$147,143 $147,756 $148,000 $583,052 $590,492 Securities 11,354 11,338 10,010 45,368 33,563 Other short-term investments 21,987 16,449 7,473 57,022 26,094 Total interest income 180,484 175,543 165,483 685,442 650,149 Interest expense: Deposits and escrow 58,926 62,950 64,773 240,131 284,745 Borrowed funds 8,718 8,406 8,542 33,859 41,036 Derivative cash collateral 551 788 1,070 3,454 6,314 Total interest expense 68,195 72,144 74,385 277,444 332,095 Net interest income 112,289 103,399 91,098 407,998 318,054 Provision for credit losses 10,889 13,294 13,715 43,030 36,113 Net interest income after provision 101,400 90,105 77,383 364,968 281,941 Non-interest income: Service charges and other fees 5,413 5,209 3,942 19,907 16,725 Title fees 317 126 226 659 843 Loan level derivative income 285 650 491 1,938 2,114 BOLI income 4,259 4,956 2,825 17,394 10,376 Gain on sale of Small Business Administration ("SBA") loans 487 38 22 994 407 Gain on sale of residential loans 75 37 83 194 225 Fair value change in equity securities and loans held for sale 48 51 15 200 (1,204)Net gain (loss) on securities — 14 (42,810) 163 (42,810)(Loss) gain on sale of other assets (111) (1,117) 554 (1,228) 7,219 Other 721 2,247 791 4,712 2,150 Total non-interest income (loss) 11,494 12,211 (33,861) 44,933 (3,955)Non-interest expense: Salaries and employee benefits 40,769 38,344 35,761 150,982 136,114 Severance 2,493 6 1,254 2,711 1,296 Occupancy and equipment 8,059 8,107 7,569 31,897 29,794 Data processing costs 4,868 4,798 4,483 19,363 17,745 Marketing 2,038 1,961 1,897 7,421 6,660 Professional services 1,381 2,228 2,345 7,822 8,614 Federal deposit insurance premiums 1,791 1,799 2,116 7,329 8,710 Loss on extinguishment of debt — — — — 454 Loss due to pension settlement — — 1,215 7,231 1,215 Amortization of other intangible assets 235 236 285 958 1,163 Other 3,434 4,745 3,688 17,388 14,782 Total non-interest expense 65,068 62,224 60,613 253,102 226,547 Income (loss) before taxes 47,826 40,092 (17,091) 156,799 51,439 Income tax expense 15,970 12,421 3,322 46,117 22,355 Net income (loss) 31,856 27,671 (20,413) 110,682 29,084 Preferred stock dividends 1,821 1,822 1,821 7,286 7,286 Net income (loss) available to common stockholders$30,035 $25,849 $(22,234) $103,396 $21,798 Earnings per common share ("EPS"): Basic$0.68 $0.59 $(0.54) $2.36 $0.55 Diluted$0.68 $0.59 $(0.54) $2.36 $0.55 DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIESUNAUDITED SELECTED FINANCIAL HIGHLIGHTS(Dollars in thousands except per share amounts) At or For the Three Months Ended At or For the Year Ended December 31, September 30, December 31, December 31, December 31, 2025 2025 2024 2025 2024 Per Share Data: Reported EPS (Diluted)$0.68 $0.59 $(0.54) $2.36 $0.55 Cash dividends paid per common share 0.25 0.25 0.25 1.00 1.00 Book value per common share 30.99 30.44 29.34 30.99 29.34 Tangible common book value per share(1) 27.37 26.81 25.68 27.37 25.68 Common shares outstanding 43,862 43,889 43,622 43,862 43,622 Dividend payout ratio 36.76% 42.37% (46.30)% 42.37% 181.82% Performance Ratios (Based upon Reported Net Income): Return on average assets 0.84% 0.77% (0.59)% 0.77% 0.21%Return on average equity 8.60 7.59 (6.02) 7.64 2.27 Return on average tangible common equity(1) 10.01 8.80 (8.16) 8.87 2.24 Net interest margin 3.11 3.01 2.79 3.01 2.48 Non-interest expense to average assets 1.72 1.73 1.76 1.77 1.66 Efficiency ratio 52.6 53.8 105.9 55.9 72.1 Effective tax rate 33.39 30.98 (19.44) 29.41 43.46 Balance Sheet Data: Average assets$15,106,328 $14,426,002 $13,759,002 $14,334,798 $13,618,789 Average interest-earning assets 14,325,493 13,638,036 12,974,958 13,534,518 12,837,416 Average tangible common equity(1) 1,206,522 1,182,158 1,080,177 1,173,523 1,006,390 Loan-to-deposit ratio at end of period(2) 83.8% 88.9% 93.0 % 83.8% 93.0% Capital Ratios and Reserves - Consolidated: Tangible common equity to tangible assets(1) (3) 7.91% 8.18% 7.89 % Tangible equity to tangible assets(1) (3) 8.67 8.99 8.71 Tier 1 common equity ratio(3) 11.66 11.53 11.07 Tier 1 risk-based capital ratio(3) 12.76 12.64 12.17 Total risk-based capital ratio(3) 16.23 16.18 15.65 Tier 1 leverage ratio(3) 9.01 9.29 9.39 Consolidated CRE concentration ratio(3)(4) 387 401 447 Allowance for credit losses/ Total loans 0.91 0.88 0.82 Allowance for credit losses/ Non-performing loans 186.14 130.54 179.37 (1) See "Non-GAAP Reconciliation" tables for reconciliation of tangible equity, tangible common equity, and tangible assets. (2) Total deposits include mortgage escrow deposits, which fluctuate seasonally.(3) December 31, 2025 ratios are preliminary pending completion and filing of the Company’s regulatory reports.(4) The Consolidated CRE concentration ratio is calculated using the sum of commercial real estate, excluding owner-occupied commercial real estate, multifamily, and acquisition, development, and construction, divided by consolidated capital. The December 31, 2025 ratio is preliminary pending completion and filing of the Company’s regulatory reports. DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIESUNAUDITED AVERAGE BALANCES AND NET INTEREST INCOME(Dollars in thousands) Three Months Ended December 31,2025 September 30, 2025 December 31, 2024 Average Average Average Average Yield/ Average Yield/ Average Yield/ Balance Interest Cost Balance Interest Cost Balance Interest Cost Assets: Interest-earning assets: Business loans$3,150,711 $53,339 6.72%$2,957,434 $50,271 6.74%$2,681,953 $46,791 6.94%One-to-four family residential and coop/condo apartment 1,038,020 12,381 4.73 1,023,844 12,120 4.70 943,319 11,061 4.66 Multifamily residential and residential mixed-use 3,459,918 39,459 4.52 3,591,822 41,712 4.61 3,848,579 44,152 4.56 Non-owner-occupied commercial real estate 2,959,801 39,153 5.25 3,067,598 40,439 5.23 3,265,906 42,865 5.22 Acquisition, development, and construction 130,805 2,783 8.44 145,902 3,184 8.66 139,440 3,101 8.85 Other loans 6,939 28 1.60 7,515 30 1.58 4,781 30 2.50 Total loans 10,746,194 147,143 5.43 10,794,115 147,756 5.43 10,883,978 148,000 5.41 Securities 1,351,926 11,354 3.33 1,340,223 11,338 3.36 1,455,449 10,010 2.74 Other short-term investments 2,227,373 21,987 3.92 1,503,698 16,449 4.34 635,531 7,473 4.68 Total interest-earning assets 14,325,493 180,484 5.00% 13,638,036 175,543 5.11% 12,974,958 165,483 5.07%Non-interest-earning assets 780,835 787,966 784,044 Total assets$15,106,328 $14,426,002 $13,759,002 Liabilities and Stockholders' Equity: Interest-bearing liabilities: Interest-bearing checking(1)$1,237,657 $6,377 2.04%$1,069,761 $5,306 1.97%$912,645 $5,115 2.23%Money market 4,640,344 31,752 2.71 4,359,512 34,877 3.17 3,968,793 33,695 3.38 Savings(1) 1,766,787 11,387 2.56 1,821,289 13,273 2.89 1,905,866 14,828 3.10 Certificates of deposit 1,123,240 9,410 3.32 1,116,152 9,494 3.37 1,126,859 11,135 3.93 Total interest-bearing deposits 8,768,028 58,926 2.67 8,366,714 62,950 2.99 7,914,163 64,773 3.26 FHLBNY advances 508,000 4,194 3.28 508,000 4,104 3.21 509,630 4,241 3.31 Subordinated debt, net 272,474 4,523 6.59 272,429 4,301 6.26 272,311 4,301 6.28 Other short-term borrowings 130 1 3.05 76 1 5.22 543 — — Total borrowings 780,604 8,718 4.43 780,505 8,406 4.27 782,484 8,542 4.34 Derivative cash collateral 52,982 551 4.13 63,856 788 4.90 99,560 1,070 4.28 Total interest-bearing liabilities 9,601,614 68,195 2.82% 9,211,075 72,144 3.11% 8,796,207 74,385 3.36%Non-interest-bearing checking(1) 3,839,434 3,573,448 3,396,457 Other non-interest-bearing liabilities 183,300 183,627 209,712 Total liabilities 13,624,348 12,968,150 12,402,376 Stockholders' equity 1,481,980 1,457,852 1,356,626 Total liabilities and stockholders' equity$15,106,328 $14,426,002 $13,759,002 Net interest income $112,289 $103,399 $91,098 Net interest rate spread 2.18% 2.00% 1.71%Net interest margin 3.11% 3.01% 2.79%Deposits (including non-interest-bearing checking accounts)(1)$12,607,462 $58,926 1.85%$11,940,162 $62,950 2.09%$11,310,620 $64,773 2.28% (1) Includes mortgage escrow deposits. DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIESUNAUDITED SCHEDULE OF NON-PERFORMING ASSETS(Dollars in thousands) At or For the Three Months Ended December 31, September 30, December 31,Asset Quality Detail 2025 2025 2024Non-performing loans ("NPLs") Business loans $22,606 $21,005 $22,624 One-to-four family residential and coop/condo apartment 3,623 2,440 3,213 Multifamily residential and residential mixed-use — — — Non-owner-occupied commercial real estate 25,671 47,952 22,960 Acquisition, development, and construction 412 657 657 Other loans — — 25 Total Non-accrual loans $52,312 $72,054 $49,479 Total Non-performing assets ("NPAs")(1) $52,762 $72,054 $49,479 Total loans 90 days delinquent and accruing ("90+ Delinquent") $— $— $— NPAs and 90+ Delinquent $52,762 $72,054 $49,479 NPAs and 90+ Delinquent / Total assets 0.34% 0.50% 0.34% Net loan charge-offs ("NCOs") $7,271 $12,586 $10,611 NCOs / Average loans(2) 0.27% 0.47% 0.39% (1) December 31, 2025 balances include one non-performing available-for-sale security in the amount of $450 thousand. (2) Calculated based on annualized NCOs to average loans, excluding loans held for sale. DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIESNON-GAAP RECONCILIATION(Dollars in thousands except per share amounts) The following tables below provide a reconciliation of certain financial measures calculated under generally accepted accounting principles ("GAAP") (as reported) and non-GAAP measures. A non-GAAP financial measure is a numerical measure of historical or future financial performance, financial position or cash flows that excludes or includes amounts that are required to be disclosed in the most directly comparable measure calculated and presented in accordance with GAAP in the United States. The Company’s management believes the presentation of non-GAAP financial measures provides investors with a greater understanding of the Company’s operating results in addition to the results measured in accordance with GAAP. While management uses these non-GAAP measures in its analysis of the Company’s performance, this information should not be viewed as a substitute for financial results determined in accordance with GAAP or considered to be more important than financial results determined in accordance with GAAP. The following non-GAAP financial measures exclude pre-tax income and expenses associated with the fair value change in equity securities and loans held for sale, loss (gain) on sale of securities and other assets, severance, the FDIC special assessment, loss on extinguishment of debt and loss due to pension settlement. The non-GAAP financial measures also include taxes related to the surrender of BOLI assets. Three Months Ended Year Ended December 31, September 30, December 31, December 31, December 31, 2025 2025 2024 2025 2024 Reconciliation of Reported and Adjusted (non-GAAP) Net Income Available to Common Stockholders Reported net income available to common stockholders $30,035 $25,849 $(22,234) $103,396 $21,798 Adjustments to net income(1): Fair value change in equity securities and loans held for sale (48) (51) (15) (200) 1,204 Loss on sale of securities and other assets 111 1,112 42,256 1,151 35,591 Severance 2,493 6 1,254 2,711 1,296 FDIC special assessment — — 126 — 126 Loss on extinguishment of debt — — — — 454 Loss due to pension settlement — — 1,215 7,231 1,215 Income tax effect of adjustments noted above(1) (784) (328) (14,258) (3,343) (12,684) BOLI tax adjustment(2): — — 9,073 — 9,073 Other discrete tax items 2,688 — — 2,688 — Adjusted net income available to common stockholders (non-GAAP) $34,495 $26,588 $17,417 $113,634 $58,073 Adjusted Ratios (Based upon Adjusted (non-GAAP) Net Income as calculated above) Adjusted EPS (Diluted) $0.79 $0.61 $0.42 $2.59 $1.46 Adjusted return on average assets 0.96 % 0.79 % 0.56 % 0.84 % 0.48 %Adjusted return on average equity 9.80 7.80 5.67 8.34 5.09 Adjusted return on average tangible common equity 11.49 9.05 6.52 9.74 5.85 Adjusted non-interest expense to average assets 1.65 1.72 1.68 1.69 1.63 Adjusted efficiency ratio 50.3 53.1 58.0 53.4 63.4 (1) Adjustments to net income (loss) are taxed at the Company's approximate statutory tax rate.(2) Reflects income tax expense related to the taxable gain and MEC Tax on surrender of legacy BOLI assets. The following table presents a reconciliation of operating expense as a percentage of average assets (as reported) and adjusted operating expense as a percentage of average assets (non-GAAP): Three Months Ended Year Ended December 31, September 30, December 31, December 31, December 31, 2025 2025 2024 2025 2024 Operating expense as a % of average assets - as reported1.72 % 1.73 % 1.76 % 1.77 % 1.66 %Severance(0.07) — (0.04) (0.02) (0.01) Loss due to pension settlement— — (0.04) (0.05) (0.01) Amortization of other intangible assets— (0.01) — (0.01) (0.01) Adjusted operating expense as a % of average assets (non-GAAP)1.65 % 1.72 % 1.68 % 1.69 % 1.63 % The following table presents a reconciliation of efficiency ratio (non-GAAP) and adjusted efficiency ratio (non-GAAP): Three Months Ended Year Ended December 31, September 30, December 31, December 31, December 31, 2025 2025 2024 2025 2024 Efficiency ratio - as reported (non-GAAP)(1) 52.6 % 53.8 % 105.9 % 55.9 % 72.1 %Non-interest expense - as reported$65,068 $62,224 $60,613 $253,102 $226,547 Severance (2,493) (6) (1,254) (2,711) (1,296) FDIC special assessment — — (126) — (126) Loss on extinguishment of debt — — — — (454) Loss due to pension settlement — — (1,215) (7,231) (1,215) Amortization of other intangible assets (235) (236) (285) (958) (1,163) Adjusted non-interest expense (non-GAAP)$62,340 $61,982 $57,733 $242,202 $222,293 Net interest income - as reported$112,289 $103,399 $91,098 $407,998 $318,054 Non-interest income - as reported$11,494 $12,211 $(33,861) $44,933 $(3,955) Fair value change in equity securities and loans held for sale (48) (51) (15) (200) 1,204 Loss on sale of securities and other assets 111 1,112 42,256 1,151 35,591 Adjusted non-interest income (non-GAAP)$11,557 $13,272 $8,380 $45,884 $32,840 Adjusted total revenues for adjusted efficiency ratio (non-GAAP)$123,846 $116,671 $99,478 $453,882 $350,894 Adjusted efficiency ratio (non-GAAP)(2) 50.3 % 53.1 % 58.0 % 53.4 % 63.4 % (1) The reported efficiency ratio is a non-GAAP measure calculated by dividing GAAP non-interest expense by the sum of GAAP net interest income and GAAP non-interest income.(2) The adjusted efficiency ratio is a non-GAAP measure calculated by dividing adjusted non-interest expense by the sum of GAAP net interest income and adjusted non-interest income. The following table presents a reconciliation of pre-tax pre provision net revenue (non-GAAP) and adjusted pre-tax pre-provision net revenue (non-GAAP): Three Months Ended Year Ended December 31, September 30, December 31, December 31, December 31, 2025 2025 2024 2025 2024Financial Data: Net interest income$112,289 $103,399 $91,098 $407,998 $318,054 Non-interest income (loss) 11,494 12,211 (33,861) 44,933 (3,955)Total revenue 123,783 115,610 57,237 452,931 314,099 Non-interest expense 65,068 62,224 60,613 253,102 226,547 Pre-tax pre-provision net revenue (non-GAAP)(1)$58,715 $53,386 $(3,376) $199,829 $87,552 Adjusted pre-tax pre-provision net revenue (non-GAAP)(2)$61,506 $54,689 $41,745 $211,680 $128,601 (1) The reported pre-tax pre-provision net revenue is a non-GAAP measure calculated by adding GAAP net interest income and GAAP non-interest income less GAAP non-interest expense.(2) The adjusted pre-tax pre-provision net revenue is a non-GAAP measure calculated by adding GAAP net interest income and the adjusted non-interest income less the adjusted non-interest expense as shown in the reconciliation of efficiency ratio table above. The following table presents the tangible common equity to tangible assets, tangible equity to tangible assets, and tangible common book value per share calculations (non-GAAP): December 31, September 30, December 31, 2025 2025 2024 Reconciliation of Tangible Assets: Total assets$15,341,631 $14,538,943 $14,353,258 Goodwill (155,797) (155,797) (155,797) Other intangible assets (2,938) (3,173) (3,896) Tangible assets (non-GAAP)$15,182,896 $14,379,973 $14,193,565 Reconciliation of Tangible Common Equity - Consolidated: Total stockholders' equity$1,475,769 $1,452,342 $1,396,517 Goodwill (155,797) (155,797) (155,797) Other intangible assets (2,938) (3,173) (3,896) Tangible equity (non-GAAP) 1,317,034 1,293,372 1,236,824 Preferred stock, net (116,569) (116,569) (116,569) Tangible common equity (non-GAAP)$1,200,465 $1,176,803 $1,120,255 Common shares outstanding 43,862 43,889 43,622 Tangible common equity to tangible assets (non-GAAP) 7.91 % 8.18 % 7.89 %Tangible equity to tangible assets (non-GAAP) 8.67 8.99 8.71 Book value per common share$30.99 $30.44 $29.34 Tangible common book value per share (non-GAAP) 27.37 26.81 25.68