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CONDENSED HOLDING COMPANY ONLY FINANCIAL STATEMENTS | 12 Months Ended
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Dec. 31, 2024
CONDENSED HOLDING COMPANY ONLY FINANCIAL STATEMENTS |
CONDENSED HOLDING COMPANY ONLY FINANCIAL STATEMENTS | 23. CONDENSED HOLDING COMPANY ONLY FINANCIAL STATEMENTS The following statements of financial condition as of December 31, 2024 and 2023, and the related statements of operations and cash flows for the years ended December 31, 2024, 2023 and 2022, 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) |  | 2024 |  | 2023
ASSETS: |  | ​ |  |  | ​ |
Cash and due from banks | ​ | $ | 95,528 | ​ | $ | 35,114
Securities available-for-sale, at fair value | ​ | ​ | 2,850 | ​ | ​ | 2,693
Investment in subsidiaries | ​ |  | 1,578,643 | ​ |  | 1,395,526
Other assets | ​ |  | 6,180 | ​ |  | 4,401
Total assets | ​ | $ | 1,683,201 | ​ | $ | 1,437,734
​ | ​ | ​ | ​ | ​ | ​ | ​
LIABILITIES AND STOCKHOLDERS’ EQUITY: | ​ |  |  | ​ |  |
Subordinated debt, net | ​ | $ | 272,325 | ​ | $ | 200,196
Other liabilities | ​ |  | 14,359 | ​ |  | 11,313
Stockholders’ equity | ​ |  | 1,396,517 | ​ |  | 1,226,225
Total liabilities and stockholders’ equity | ​ | $ | 1,683,201 | ​ | $ | 1,437,734
​ DIME COMMUNITY BANCSHARES, INC. CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (1) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(In thousands) |  | 2024 |  | 2023 |  | 2022
Net interest loss | ​ | $ | (13,501) | ​ | $ | (9,942) | ​ | $ | (10,394)
Dividends received from Bank | ​ |  | 50,000 | ​ |  | 60,000 | ​ |  | 95,000
Non-interest expense | ​ |  | (1,115) | ​ |  | (1,066) | ​ |  | (1,720)
Income before income taxes and equity in undistributed earnings of direct subsidiaries | ​ |  | 35,384 | ​ |  | 48,992 | ​ |  | 82,886
Income tax credit | ​ |  | 5,308 | ​ |  | 7,822 | ​ |  | 4,001
Income before equity in undistributed earnings of direct subsidiaries | ​ |  | 40,692 | ​ |  | 56,814 | ​ |  | 86,887
Equity in undistributed earnings of subsidiaries | ​ |  | (11,608) | ​ |  | 39,280 | ​ |  | 65,669
Net income | ​ | $ | 29,084 | ​ | $ | 96,094 | ​ | $ | 152,556
(1) | Comprehensive income for the Holding Company approximated comprehensive income for the consolidated Company during the years ended December 31, 2024, 2023 and 2022.
DIME COMMUNITY BANCSHARES, INC. CONDENSED STATEMENTS OF CASH FLOWS ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
(In thousands) |  | 2024 |  | 2023 |  | 2022
Cash flows from operating activities: |  | ​ |  |  | ​ |  |  | ​ |
Net income | ​ | $ | 29,084 | ​ | $ | 96,094 | ​ | $ | 152,556
Adjustments to reconcile net income to net cash provided by operating activities: | ​ |  | ​ | ​ |  |  | ​ |  |
Equity in undistributed earnings of direct subsidiaries | ​ |  | 11,608 | ​ |  | (39,280) | ​ |  | (65,669)
Net amortization (accretion) | ​ |  | 45 | ​ |  | (87) | ​ |  | (111)
Loss on extinguishment of debt | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 740
Increase in other assets | ​ |  | (1,863) | ​ |  | (62) | ​ |  | (104)
Increase (decrease) in other liabilities | ​ |  | 803 | ​ |  | (931) | ​ |  | (1,096)
Net cash provided by operating activities | ​ |  | 39,677 | ​ |  | 55,734 | ​ |  | 86,316
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flows from investing activities: | ​ |  |  | ​ |  |  | ​ |  |
Net cash provided by investing activities | ​ |  | — | ​ |  | — | ​ |  | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flows from financing activities: | ​ |  |  | ​ |  |  | ​ |  |
Proceeds from subordinated debentures issuance, net | ​ | ​ | 72,084 | ​ | ​ | — | ​ | ​ | 157,559
Redemption of subordinated debentures | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (155,000)
Proceeds from common stock issuance, net | ​ | ​ | 135,764 | ​ | ​ | — | ​ | ​ | —
Release of stock for benefit plan awards | ​ |  | 1,105 | ​ |  | 1,164 | ​ |  | 1,167
Payments related to tax withholding for equity awards | ​ |  | (1,347) | ​ |  | (1,258) | ​ |  | (1,558)
Treasury shares repurchased | ​ |  | — | ​ |  | (947) | ​ |  | (46,762)
Cash dividends paid to preferred stockholders | ​ |  | (7,286) | ​ |  | (7,286) | ​ |  | (7,286)
Cash dividends paid to common stockholders | ​ |  | (38,036) | ​ |  | (37,302) | ​ |  | (36,791)
Other, net | ​ | ​ | (141,547) | ​ | ​ | — | ​ | ​ | —
Net cash provided by (used in) financing activities | ​ |  | 20,737 | ​ |  | (45,629) | ​ |  | (88,671)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net increase (decrease) in cash and due from banks | ​ |  | 60,414 | ​ |  | 10,105 | ​ |  | (2,355)
Cash and due from banks, beginning of period | ​ |  | 35,114 | ​ |  | 25,009 | ​ |  | 27,364
Cash and due from banks, end of period | ​ | $ | 95,528 | ​ | $ | 35,114 | ​ | $ | 25,009
​

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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 -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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