Dime Community Bank

Overview / Commentary
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.

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!

Clumsy Customer Service

Posted by: |

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.

Money Market Account Misleading

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I just opened a Dime Money Market account. The interest rate is terrific, I had no issues transferring money, and the security seemed good. My one and only, but huge issue is that there is a cap of $5,000 per transaction with transferring money in and out. Nowhere did I see that prior to opening the account. They definitely should be putting that prominently on their information sheet. Luckily I only started with $1,000 because if I wanted to withdraw a large sum of money, I wouldn't be able to as I would be capped at $5,000 per transaction. As it is, since I can make 6 exchanges per month, it only makes sense to leave in $30,000 in the account if I want to be able to move my money in an out in a timely manner.

Dime Community Bank.

Posted by: |

Worst bank I have ever dealt with. The online banking app has been screwed up for a week now. It says password is incorrect. I changed the password and says password changed successfully but when I login it again says incorrect. My son also has same problem so it's the app. Contacted customer service who advised account isn't locked so nothing they can do. Went to the branch and I was told yeah they are having technical issues nothing they can do. Meanwhile I can't use some apps I have linked to it or zelle. Worst of all nothing has come from the bank in the for of an explanation or apology for the inconvenience. NOTHING! Just left hanging and waiting it out until they get around to fixing the issue.



Health Grade Components

FDIC Certificate #6976
Year Established1909
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.58%
Return on Equity - YTD5.63%
Annual Interest Income$160.9MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$13.47B$13.83B
LoansQ1 2024vs Q1 2023$10.7B$10.66B
DepositsQ1 2024vs Q1 2023$10.92B$10.59B
Equity CapitalQ1 2024vs Q1 2023$1.41B$1.37B
Loan Loss AllowanceQ1 2024vs Q1 2023$76.1MM$78.3MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$33.4MM$31.5MM
Real Estate OwnedQ1 2024vs Q1 2023$0$0
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Dime Community Bank Savings Account Rates

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