Dime Community Bank


Overview / Commentary
800-321-3463
898 Veterans Memorial Hwy
Hauppauge, NY 11788

Dime Community Bank (Dime) is a New York State-chartered trust company with over $12.7 billion in assets and number one deposit market share among community banks on Greater Long Island(1).
On February 1, 2021 Dime merged with BNB Bank uniting two iconic New York Community banks and creating the premier community-based business bank in our region.

Headquartered in Hauppauge, New York. The Bank has over 60 convenient branch locations spanning from Montauk to Manhattan and a long history of helping businesses and consumers in the communities we serve.

Dime is committed to providing exceptional service, the latest in technology and an experienced, dedicated team to help customers achieve their financial goals. The Bank offers a full range of products and services for businesses, consumers and municipalities. Dime’s rich tradition of involvement in the community includes supporting programs and initiatives that promote local business, the environment, education, healthcare, social services and the arts.

In addition, through its subsidiaries, Bridge Abstract and Dime Financial Services, Dime also offers title insurance services, financial planning and investment consultation.

¹ Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks less than $20 billion in assets.

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Pleasantly surprised

A few months a ago I was looking around for a decent APY that is not negative or zero after inflation for a 5 year CD for my son, lo and behold I have came across The Dime Community Bank. I decided to invest with them. Currently I have a decent APY, which is a bit low but since I'm thinking of the future and not spending, it was an okay deal. I was pleased with the service they provided and my hope is that the market price doesn't change too much within the next couple of years. I would recommend people to check them out if they are looking to save money that they have lying around. Great bank!

No Beneficiaries On Checking Accounts?

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I was told that there is no option to add POD beneficiaries on checking accounts. This makes no sense to me, why would a bank want to incur costs of dealing with probate courts when it is so easy to avoid it?

Clumsy Customer Service

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In opening an online money market account with Dime Savings Bank there was a glitch in initially funding it. The savings account with the external bank was described as (yes) a savings account when according to that bank (SFGI Direct) it should've been labeled as a checking account. Because of this issue the transfer of funds fell through. However I only learned that there was a problem when my account access was blocked. I phoned customer service who routed me to the department responsible for account openings. They told me that my account had been flagged, my access denied, and any activity prohibited. I called the other bank to find out what happened and they explained the reason. I then shared this information with Dime Savings. The transfer went through a few days later and the flag lifted. The only notice though Dime Savings gave alerting me to this issue was a message in my account inbox - which I was blocked from accessing. An email or phone call would've been the most effective means to let me know. On the positive side phoning customer service hasn't meant a long wait to speak with someone.

Nothing Could Be WORSE!

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It is true! It is NOT A BANK! NOTHING COULD BE WORSE- RUN AWAY BEFORE HARD-MADE MONEY GONE FROM YOUR ACCOUNT AND YOUR REPUTATION IS DESTROYED! Customers are not any value here! The online banking is a joke - transactions set up to have horrible mistake on expense of the customers. It is NOBODY TO COMPLAIN!!! SIMPLE RUTINE verifications may take 20 minutes and expose your entire life! This "bank" clearly knows how to mistreat vulnerable, disabled and elderly customers by enforcing "learned helplessness," disregarding your rights and destroying your ability to pay bills. Becoming this "bank" "customer-victim" may cause you psychological and than physical trauma and serious financial problems. I wish I never came to such merciless hands! . Real Bank must have ethics, be honest, helpful and reasonable, reliable and of course NOT TO TAKE ADVANTIGE OF YOU! It is sarcastic joke that it is "COMMUNITY" "BANK" - nothing about community or quality of bank you will find here! They will destroy you so easily and as much as they can if you naively trust them your money and your life!

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Health

Health Grade Components

Overall
FDIC Certificate #6976
Year Established1909
Employees809
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.65%
Return on Equity - YTD6.62%
Annual Interest Income$187.2MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$12.69B$6.15B
LoansQ2 2021vs Q2 2020$9.48B$4.59B
DepositsQ2 2021vs Q2 2020$11.14B$5.08B
Equity CapitalQ2 2021vs Q2 2020$1.32B$580.3MM
Loan Loss AllowanceQ2 2021vs Q2 2020$92.8MM$43.4MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$53.5MM$17.7MM
Real Estate OwnedQ2 2021vs Q2 2020$0$0
Rates

Sorry, we do not have rate data for Dime Community Bank.

Locations

Availability



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