XML 49 R33.htm IDEA: XBRL DOCUMENT
v3.22.0.1

CONDENSED HOLDING COMPANY ONLY FINANCIAL STATEMENTS | 12 Months Ended
--- | ---
Dec. 31, 2021
CONDENSED HOLDING COMPANY ONLY FINANCIAL STATEMENTS |
CONDENSED HOLDING COMPANY ONLY FINANCIAL STATEMENTS | 26. CONDENSED HOLDING COMPANY ONLY FINANCIAL STATEMENTS The following statements of condition as of December 31, 2021 and 2020, and the related statements of income and cash flows for the years ended December 31, 2021, 2020 and 2019, reflect the Holding Company’s investment in its wholly-owned subsidiary, the Bank, using, as deemed appropriate, the equity method of accounting: DIME COMMUNITY BANCSHARES, INC. CONDENSED STATEMENTS OF FINANCIAL CONDITION ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
(In thousands) |  | 2021 |  | 2020
ASSETS: |  | ​ |  |  | ​ |
Cash and due from banks | ​ | $ | 27,364 | ​ | $ | 106,014
Securities available-for-sale, at fair value | ​ | ​ | 3,068 | ​ | ​ | —
Marketable equity securities, at fair value | ​ |  | — | ​ |  | 5,970
Investment in subsidiaries | ​ |  | 1,366,796 | ​ |  | 703,107
Other assets | ​ |  | 4,285 | ​ |  | 1,018
Total assets | ​ | $ | 1,401,513 | ​ | $ | 816,109
​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES AND STOCKHOLDERS’ EQUITY: | ​ |  |  | ​ |  |
Subordinated debt, net | ​ | $ | 197,096 | ​ | $ | 114,052
Other liabilities | ​ |  | 11,797 | ​ |  | 961
Stockholders’ equity | ​ |  | 1,192,620 | ​ |  | 701,096
Total liabilities and stockholders’ equity | ​ | $ | 1,401,513 | ​ | $ | 816,109
​ ​ DIME COMMUNITY BANCSHARES, INC. CONDENSED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME (1) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(In thousands) |  | 2021 |  | 2020 |  | 2019
Net interest loss | ​ | $ | (8,427) | ​ | $ | (5,147) | ​ | $ | (5,147)
Dividends received from Bank | ​ |  | 20,000 | ​ |  | 30,000 | ​ |  | 52,500
Non-interest income | ​ |  | 136 | ​ |  | 361 | ​ |  | 531
Non-interest expense | ​ |  | (4,361) | ​ |  | (1,176) | ​ |  | (1,003)
Income before income taxes and equity in undistributed earnings of direct subsidiaries | ​ |  | 7,348 | ​ |  | 24,038 | ​ |  | 46,881
Income tax credit | ​ |  | 4,051 | ​ |  | 1,819 | ​ |  | 1,785
Income before equity in undistributed earnings of direct subsidiaries | ​ |  | 11,399 | ​ |  | 25,857 | ​ |  | 48,666
Equity in undistributed earnings of subsidiaries | ​ |  | 92,597 | ​ |  | 16,461 | ​ |  | (12,480)
Net income | ​ | $ | 103,996 | ​ | $ | 42,318 | ​ | $ | 36,186
(1) | Other comprehensive income for the Holding Company approximated other comprehensive income for the consolidated Company during the years ended December 31, 2021, 2020 and 2019.
DIME COMMUNITY BANCSHARES, INC. CONDENSED STATEMENTS OF CASH FLOWS ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2021 |  | 2020 |  | 2019
Cash flows from operating activities: |  | ​ |  |  | ​ |  |  | ​ |
Net income | ​ | $ | 103,996 | ​ | $ | 42,318 | ​ | $ | 36,186
Adjustments to reconcile net income to net cash provided by operating activities: | ​ |  | ​ | ​ |  |  | ​ |  |
Equity in undistributed earnings of direct subsidiaries | ​ |  | (92,597) | ​ |  | (16,461) | ​ |  | 12,480
Net gain on marketable equity securities | ​ |  | (131) | ​ |  | (361) | ​ |  | (531)
Net accretion | ​ |  | (157) | ​ |  | 146 | ​ |  | 147
Decrease (increase) in other assets | ​ |  | 761 | ​ |  | (502) | ​ |  | 26
Increase in other liabilities | ​ |  | 269 | ​ |  | 214 | ​ |  | 388
Net cash provided by operating activities | ​ |  | 12,141 | ​ |  | 25,354 | ​ |  | 48,696
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flows from investing activities: | ​ |  |  | ​ |  |  | ​ |  |
Proceeds sales of marketable equity securities | ​ |  | 6,101 | ​ |  | 546 | ​ |  | 570
Purchases of securities available-for-sale and marketable equity securities | ​ |  | (3,000) | ​ |  | (261) | ​ |  | (266)
Reimbursement from subsidiary, including purchases of securities available-for-sale | ​ |  | — | ​ |  | 2 | ​ |  | 26
Net cash received in business combination | ​ | ​ | 11,545 | ​ | ​ | — | ​ | ​ | —
Net cash provided by investing activities | ​ |  | 14,646 | ​ |  | 287 | ​ |  | 330
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flows from financing activities: | ​ |  |  | ​ |  |  | ​ |  |
Redemption of preferred stock | ​ |  | — | ​ |  | (3) | ​ |  | (1)
Proceeds from preferred stock issuance, net | ​ | ​ | — | ​ | ​ | 116,569 | ​ | ​ | —
Proceeds from exercise of stock options | ​ |  | 431 | ​ |  | 38 | ​ |  | 367
Release of stock for benefit plan awards | ​ |  | 1,153 | ​ |  | 84 | ​ |  | 131
Payments related to tax withholding for equity awards | ​ |  | (111) | ​ |  | (3,060) | ​ |  | (133)
BMP ESOP shares received to satisfy distribution of retirement benefits | ​ |  | (993) | ​ |  | — | ​ |  | (4)
Treasury shares repurchased | ​ |  | (59,280) | ​ |  | (35,356) | ​ |  | (24,191)
Cash dividends paid to preferred stockholders | ​ |  | (7,286) | ​ |  | (4,783) | ​ |  | —
Cash dividends paid to common stockholders | ​ |  | (39,351) | ​ |  | (18,696) | ​ |  | (20,082)
Net cash (used in) provided by financing activities | ​ |  | (105,437) | ​ |  | 54,793 | ​ |  | (43,913)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net (decrease) increase in cash and due from banks | ​ |  | (78,650) | ​ |  | 80,434 | ​ |  | 5,113
Cash and due from banks, beginning of period | ​ |  | 106,014 | ​ |  | 25,580 | ​ |  | 20,467
Cash and due from banks, end of period | ​ | $ | 27,364 | ​ | $ | 106,014 | ​ | $ | 25,580
​

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=123454820&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration