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CONDENSED HOLDING COMPANY ONLY FINANCIAL STATEMENTS | 12 Months Ended
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Dec. 31, 2022
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, 2022 and 2021, and the related statements of income and cash flows for the years ended December 31, 2022, 2021 and 2020, 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) |  | 2022 |  | 2021
ASSETS: |  | ​ |  |  | ​ |
Cash and due from banks | ​ | $ | 25,009 | ​ | $ | 27,364
Securities available-for-sale, at fair value | ​ | ​ | 2,489 | ​ | ​ | 3,068
Marketable equity securities, at fair value | ​ |  | — | ​ |  | —
Investment in subsidiaries | ​ |  | 1,348,962 | ​ |  | 1,366,796
Other assets | ​ |  | 4,389 | ​ |  | 4,285
Total assets | ​ | $ | 1,380,849 | ​ | $ | 1,401,513
​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES AND STOCKHOLDERS’ EQUITY: | ​ |  |  | ​ |  |
Subordinated debt, net | ​ | $ | 200,283 | ​ | $ | 197,096
Other liabilities | ​ |  | 10,983 | ​ |  | 11,797
Stockholders’ equity | ​ |  | 1,169,583 | ​ |  | 1,192,620
Total liabilities and stockholders’ equity | ​ | $ | 1,380,849 | ​ | $ | 1,401,513
​ DIME COMMUNITY BANCSHARES, INC. CONDENSED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME (1) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(In thousands) |  | 2022 |  | 2021 |  | 2020
Net interest loss | ​ | $ | (10,394) | ​ | $ | (8,427) | ​ | $ | (5,147)
Dividends received from Bank | ​ |  | 95,000 | ​ |  | 20,000 | ​ |  | 30,000
Non-interest income | ​ |  | — | ​ |  | 136 | ​ |  | 361
Non-interest expense | ​ |  | (1,720) | ​ |  | (4,361) | ​ |  | (1,176)
Income before income taxes and equity in undistributed earnings of direct subsidiaries | ​ |  | 82,886 | ​ |  | 7,348 | ​ |  | 24,038
Income tax credit | ​ |  | 4,001 | ​ |  | 4,051 | ​ |  | 1,819
Income before equity in undistributed earnings of direct subsidiaries | ​ |  | 86,887 | ​ |  | 11,399 | ​ |  | 25,857
Equity in undistributed earnings of subsidiaries | ​ |  | 65,669 | ​ |  | 92,597 | ​ |  | 16,461
Net income | ​ | $ | 152,556 | ​ | $ | 103,996 | ​ | $ | 42,318
(1) | Other comprehensive income for the Holding Company approximated other comprehensive income for the consolidated Company during the years ended December 31, 2022, 2021 and 2020.
DIME COMMUNITY BANCSHARES, INC. CONDENSED STATEMENTS OF CASH FLOWS ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2022 |  | 2021 |  | 2020
Cash flows from operating activities: |  | ​ |  |  | ​ |  |  | ​ |
Net income | ​ | $ | 152,556 | ​ | $ | 103,996 | ​ | $ | 42,318
Adjustments to reconcile net income to net cash provided by operating activities: | ​ |  | ​ | ​ |  |  | ​ |  |
Equity in undistributed earnings of direct subsidiaries | ​ |  | (65,669) | ​ |  | (92,597) | ​ |  | (16,461)
Net gain on marketable equity securities | ​ |  | — | ​ |  | (131) | ​ |  | (361)
Net accretion | ​ |  | (111) | ​ |  | (157) | ​ |  | 146
Loss on extinguishment of debt | ​ | ​ | 740 | ​ | ​ | — | ​ | ​ | —
(Increase) decrease in other assets | ​ |  | (104) | ​ |  | 761 | ​ |  | (502)
(Decrease) increase in other liabilities | ​ |  | (1,096) | ​ |  | 269 | ​ |  | 214
Net cash provided by operating activities | ​ |  | 86,316 | ​ |  | 12,141 | ​ |  | 25,354
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flows from investing activities: | ​ |  |  | ​ |  |  | ​ |  |
Proceeds sales of marketable equity securities | ​ |  | — | ​ |  | 6,101 | ​ |  | 546
Purchases of securities available-for-sale and marketable equity securities | ​ |  | — | ​ |  | (3,000) | ​ |  | (261)
Reimbursement from subsidiary, including purchases of securities available-for-sale | ​ |  | — | ​ |  | — | ​ |  | 2
Net cash received in business combination | ​ | ​ | — | ​ | ​ | 11,545 | ​ | ​ | —
Net cash provided by investing activities | ​ |  | — | ​ |  | 14,646 | ​ |  | 287
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flows from financing activities: | ​ |  |  | ​ |  |  | ​ |  |
Proceeds from subordinated debentures issuance, net | ​ | ​ | 157,559 | ​ | ​ | — | ​ | ​ | —
Redemption of subordinated debentures | ​ | ​ | (155,000) | ​ | ​ | — | ​ | ​ | —
Redemption of preferred stock | ​ |  | — | ​ |  | — | ​ |  | (3)
Proceeds from preferred stock issuance, net | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 116,569
Proceeds from exercise of stock options | ​ |  | — | ​ |  | 431 | ​ |  | 38
Release of stock for benefit plan awards | ​ |  | 1,167 | ​ |  | 1,153 | ​ |  | 84
Payments related to tax withholding for equity awards | ​ |  | (1,558) | ​ |  | (111) | ​ |  | (3,060)
BMP ESOP shares received to satisfy distribution of retirement benefits | ​ |  | — | ​ |  | (993) | ​ |  | —
Treasury shares repurchased | ​ |  | (46,762) | ​ |  | (59,280) | ​ |  | (35,356)
Cash dividends paid to preferred stockholders | ​ |  | (7,286) | ​ |  | (7,286) | ​ |  | (4,783)
Cash dividends paid to common stockholders | ​ |  | (36,791) | ​ |  | (39,351) | ​ |  | (18,696)
Net cash (used in) provided by financing activities | ​ |  | (88,671) | ​ |  | (105,437) | ​ |  | 54,793
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net (decrease) increase in cash and due from banks | ​ |  | (2,355) | ​ |  | (78,650) | ​ |  | 80,434
Cash and due from banks, beginning of period | ​ |  | 27,364 | ​ |  | 106,014 | ​ |  | 25,580
Cash and due from banks, end of period | ​ | $ | 25,009 | ​ | $ | 27,364 | ​ | $ | 106,014
​

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- 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 https://asc.fasb.org/extlink&oid=126898705&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 https://asc.fasb.org/extlink&oid=126929396&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 https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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