Dime Commercial Bancshares, Inc.: Q4 FY2025 earnings call

What management said about Q4 FY2025, from the documents filed with the SEC on 21 January 2026: press release. The quarter’s numbers.

Read the filing

Key takeaways

• Quarterly profit and EPS rose: Net income to common stockholders was $30.0 million, or $0.68 diluted, against $25.8 million, or $0.59, in the third quarter. The fourth quarter of 2024 was a loss. Source
• Adjusted EPS rose to $0.79: Adjusted diluted EPS, a non-GAAP measure, was $0.79 for the quarter, up from $0.61 in the third quarter and $0.42 a year earlier. Source
• Net interest income and margin rose: Net interest income was $112.3 million, compared with $103.4 million in the third quarter. The net interest margin was 3.11%, against 3.01% in the prior quarter. Source
• Non-performing loans fell to $52.3 million: Non-performing loans were $52.3 million at year-end, down from $72.1 million at September 30 and $49.5 million a year earlier. Source
• Efficiency ratio improved to 52.6%: The efficiency ratio was 52.6%, compared with 53.8% in the third quarter. The adjusted ratio was 50.3%. Source
• Common Equity Tier 1 ratio rose to 11.66%: The CET1 ratio was 11.66% at year-end, up from 11.53% in the third quarter. December 31 ratios are preliminary pending regulatory filings. Source
• Hiring of bankers linked to growth: Management linked core deposit and business loan growth to continued customer growth and the hiring of productive bankers. Source

“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”

Stuart H. Lubow, President and Chief Executive Officer

Earnings and revenue growth

• Quarterly profit and EPS rose: Net income to common stockholders was $30.0 million, or $0.68 diluted, against $25.8 million, or $0.59, in the third quarter. The fourth quarter of 2024 was a loss. Source
• Adjusted EPS rose to $0.79: Adjusted diluted EPS, a non-GAAP measure, was $0.79 for the quarter, up from $0.61 in the third quarter and $0.42 a year earlier. Source
• Full-year earnings reached $2.36: For 2025, net income to common stockholders was $103.4 million, or $2.36 diluted, compared with $21.8 million, or $0.55, for 2024. Source

Net interest margin and loan repricing

• Net interest income and margin rose: Net interest income was $112.3 million, compared with $103.4 million in the third quarter. The net interest margin was 3.11%, against 3.01% in the prior quarter. Source
• Loan rate average fell 10 basis points: The weighted average rate on the total loan portfolio ended the year at 5.27%, down from 5.37% at September 30, 2025. Source
• Repricing expected through 2027: Management said a significant loan repricing will continue through 2027, and that this repricing is expected to keep adding to revenue. Source

“Total fourth quarter revenue of $124 million was a record for Dime, and we anticipate continued revenue growth in the years ahead”

Stuart H. Lubow, President and Chief Executive Officer

Deposits and loan mix

• Total deposits reached $12.84 billion: Total deposits including mortgage escrow were $12.84 billion at year-end, up from $12.06 billion in the third quarter and $11.69 billion a year earlier. Source
• Core deposits up $1.26 billion yearly: Core deposits, excluding brokered and time deposits, grew $1.26 billion year over year. Source
• Loan-to-deposit ratio fell to 83.8%: The ratio of loans to deposits fell from 88.9% at the prior quarter-end. Source
• Business loans rose $514 million yearly: Business loans rose $177.9 million from the third quarter and $514.0 million from a year earlier. Source
• Brokered deposits lower than last year: Brokered deposits were $200.0 million at year-end, against $422.8 million a year earlier, and unchanged from September 30. Source

Credit quality and reserves

• Non-performing loans fell to $52.3 million: Non-performing loans were $52.3 million at year-end, down from $72.1 million at September 30 and $49.5 million a year earlier. Source
• Credit loss provision eased to $10.9 million: The provision was $10.9 million, down from $13.3 million in the third quarter and $13.7 million a year earlier. Source
• Non-performing assets fell 27%: Non-performing assets declined 27% on a linked-quarter basis, to 0.34% of total assets. Source

“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.”

Stuart H. Lubow, President and Chief Executive Officer

Non-interest income and expense

• Non-interest income near $11.5 million: Non-interest income was $11.5 million, compared with $12.2 million in the third quarter. The fourth quarter of 2024 included a $42.8 million securities loss. Source
• Adjusted expense held near $62 million: Adjusted non-interest expense was $62.3 million, against $62.0 million in the third quarter. Reported non-interest expense was $65.1 million. Source
• Items excluded from adjusted expense: Adjusted expense excludes the debt extinguishment loss, intangible amortization, severance, pension settlement and FDIC special assessment items. Source

Efficiency and tax

• Efficiency ratio improved to 52.6%: The efficiency ratio was 52.6%, compared with 53.8% in the third quarter. The adjusted ratio was 50.3%. Source
• Tax expense rose to $16.0 million: Income tax expense was $16.0 million, against $12.4 million in the third quarter and $3.3 million a year earlier. Source
• Effective rate excluding discrete items: Excluding discrete tax items, the effective tax rate was 27.8%. The reported effective tax rate was 33.39%. Source

Capital, cash and shareholder returns

• Common Equity Tier 1 ratio rose to 11.66%: The CET1 ratio was 11.66% at year-end, up from 11.53% in the third quarter. December 31 ratios are preliminary pending regulatory filings. Source
• Book value per share reached $30.99: Book value per common share was $30.99, up from $30.44 at September 30. Tangible common book value per share was $27.37. Source
• Quarterly dividend held at $0.25: Dividends of $0.25 per common share were paid in the fourth quarter, the same as in the third quarter. Source
• Stockholders’ equity grew $23.4 million: Total stockholders’ equity rose $23.4 million to $1.48 billion at year-end. Source
• Cash of $2.35 billion gives flexibility: Management said its cash position gives it flexibility to lend as lending chances arise. Source

Strategy, hiring and channels

• Positioned as commercial and private bank: Management said the company has established itself as a commercial and private banking franchise, credited to bankers and corporate staff. Source
• Hiring of bankers linked to growth: Management linked core deposit and business loan growth to continued customer growth and the hiring of productive bankers. Source
• Deposit growth spread across channels: Management said deposit growth came from the branch network, commercial banking, private banking and municipal banking. Source

Coming up, as management said on 21 January 2026

• Lakewood and North Shore branch openings: Management expected to open branches in Lakewood, NJ and the North Shore of Long Island in early 2026. The January release does not report on them.

Figures management reported

Risks management discussed

• Financial: The CRE concentration ratio was managed lower to 387%, from 401% at September 30. Source
• Regulatory: The fourth quarter included $2.7 million of net discrete tax expense, tied to an uncertain tax position and a prior-year deferred tax item. Source

Earlier plans management reported on

• Met: Management said it executed on all aspects of the strategic plan during the quarter. Source
• Not stated: In October, management expected the full-quarter spread improvement to lift the margin. The January release reports the margin rose to 3.11%.

Other quarters

• Q2 FY2026 earnings call
• Q1 FY2026 earnings call
• Q3 FY2025 earnings call
• Q2 FY2025 results

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.