Dime Community Bancshares announced plans to open a full‑service branch at 85 Forest Avenue in Locust Valley, New York, with an expected opening in 2026. The new location will be led by Liz Materia, a former branch manager at The First National Bank of Long Island, which merged with ConnectOne Bank in June 2025. Materia’s experience is expected to help Dime capture the high‑growth North Shore market.
The announcement is part of Dime’s broader expansion strategy on Long Island’s North Shore, following the opening of a Manhattan branch and planned openings in Lakewood, New Jersey, and other North Shore sites in early 2026. The Locust Valley branch is intended to strengthen the bank’s deposit base and support its core loan‑growth objectives in a region with strong residential and commercial demand.
Dime’s Q3 2025 results provide context for the expansion. The bank reported adjusted earnings per share of $0.61, falling short of the consensus estimate of $0.69, but revenue of $115.61 million beat the consensus of $112.91 million. Net income available to common shareholders rose to $25.8 million, a 103 % year‑over‑year increase. Core deposits grew by $971.9 million, and the net interest margin expanded to 3.01 % from 2.98 % in the prior quarter, reflecting stronger interest income and disciplined cost management.
The deposit growth and margin expansion give Dime the financial flexibility to invest in new branches. By adding a Locust Valley location, the bank can tap a market that has historically outpaced the broader region in both residential mortgage and small‑business lending. The new branch will also serve as a platform for cross‑selling Dime’s growing suite of digital banking services, which the company has been promoting as a key driver of future revenue.
Management emphasized that the expansion aligns with its strategy to capture high‑growth markets and maintain a leading deposit share among community banks on Greater Long Island. The bank’s leadership noted that the new branch will support the company’s goal of sustaining deposit growth while expanding its loan portfolio, particularly in the commercial and residential sectors that have shown robust demand in the North Shore.
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