Dime Community Bank facts for kids
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Park Slope branch of Dime Community Bank
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| Public | |
| Traded as |
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| Industry | Banking |
| Founded | 1864 |
| Headquarters |
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U.S.
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Number of locations
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60+ branches (2021) |
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Area served
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Bronx, Brooklyn, Manhattan, Nassau, Queens, and Suffolk. |
| Services | Financial services, real estate loans |
| US$103,996,000 | |
| Total assets | US$12,347,085,000 |
| Total equity | US$1,140,522,000 |
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Number of employees
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800+ |
The Dime Community Bank is a local bank that helps people and businesses with their money. It is insured by the FDIC, which means your money is safe there. The bank's main office is in Hauppauge, New York.
Dime Community Bank started in 1864 in the Williamsburg area of Brooklyn, New York. It still has a strong presence there today. In 2021, Dime Community Bank joined with Bridge Bancorp Inc. (BNB Bank). This made them a bigger bank.
Contents
History of Dime Community Bank
Dime Community Bank first opened its doors in Brooklyn on June 1, 1864. It was started by William Grandy. The bank was created as a mutual savings bank. This means it was owned by its customers, not by shareholders. It helped many new immigrants and people with lower incomes in the area.
Growing and Changing
Dime went through many economic changes over the years. On June 26, 1996, it became a publicly traded company. This means its shares could be bought and sold on the stock market. At the same time, Dime bought another bank called Pioneer Savings Bank. This was a special event because it was the first time a bank went public and bought another company at the same time.
In 1999, Dime bought Financial Bancorp, Inc. for $74 million. This helped the bank grow even more.
Dime Community Bank is part of a larger company called Dime Community Bancshares, Inc. This company is also publicly owned. As of December 31, 2020, Dime Community Bancshares had about $6.7 billion in assets. From 2009 to 2017, Dime was ranked among the top 5 banks by S&P Global Market Intelligence for nine years in a row.
Helping Small Businesses
In 2017, Dime started to focus more on helping businesses. In August 2017, they became an approved lender for the Small Business Administration (SBA). This means they can give special loans to small businesses. The CEO, Kenneth J. Mahon, said this was important for helping small businesses and entrepreneurs in the communities they serve.
Today, Dime Community Bank has over 60 branches. These branches are located across the New York metropolitan area. You can find them in Brooklyn, Queens, the Bronx, Nassau, and Suffolk Counties.
Important Buildings
Dime Community Bank's very first location was in the basement of the First National Bank Building. This was near the Williamsburg Bridge. It opened there on June 1, 1864.
As the bank grew, it needed a bigger space. So, it moved its main office to a new building at the Williamsburg Bridge Plaza. This building was at the corner of Havemeyer and South 5th Street. On January 16, 2017, Dime moved its headquarters again to 300 Cadman Plaza West in Brooklyn. Now, the bank's main offices are in Hauppauge, NY.
The old Havemeyer Street building, located at 209 Havemeyer Street, is very special. On March 27, 2018, it was named a New York City landmark. This means it is an important historical building that needs to be protected. The building was built between 1906 and 1908. It was designed in the Neoclassical style by the firm of Helmle & Huberty. This style uses ideas from ancient Greek and Roman architecture.
See also
In Spanish: Dime Savings Bank of Williamsburgh para niños
