Dime Community Bank facts for kids
 |
|
Park Slope branch of Dime Community Bank
|
|
| Public | |
| Traded as |
|
| Industry | Banking |
| Founded | 1864 |
| Headquarters |
,
U.S.
|
|
Number of locations
|
60+ branches (2021) |
|
Area served
|
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 |
|
Number of employees
|
800+ |
The Dime Community Bank is a local bank that helps people save and manage their money. It was first called the Dime Savings Bank of Williamsburgh. The bank is insured by the Federal Deposit Insurance Corporation (FDIC), which means your money is safe there.
Dime Community Bank started in 1864 in the Williamsburg neighborhood of Brooklyn, New York. Today, its main office is in Hauppauge, New York. In 2021, Dime Community Bank joined with another bank called BNB Bank.
Contents
History of Dime Community Bank
How Dime Bank Started
Dime Community Bank opened its doors on June 1, 1864, in Brooklyn. It was started by William Grandy. The bank was created as a "mutual savings bank." This meant it was owned by its customers and aimed to help people, especially new immigrants and those with lower incomes, save money.
Growing and Changing
Over the years, Dime Bank went through many economic changes. On June 26, 1996, it became a "publicly traded company." This means that shares of the bank could be bought and sold by anyone on the stock market. At the same time, Dime also 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 another bank, Financial Federal Savings Bank, for $74 million.
Dime Community Bank is part of a bigger company called Dime Community Bancshares, Inc. This company is listed on the NASDAQ stock exchange under the symbol DCOM. For many years, from 2009 to 2017, Dime was ranked among the top 5 banks by S&P Global Market Intelligence.
Helping Businesses
In 2017, Dime Community Bank started to focus more on helping businesses. They became an approved lender for the Small Business Administration (SBA). This program helps small businesses get loans. The CEO, Kenneth J. Mahon, said that helping small businesses is important for the communities the bank serves.
Today, Dime Community Bank has over 60 branches. You can find them in many parts of the New York metropolitan area, including Brooklyn, Queens, the Bronx, Nassau, and Suffolk.
Important Buildings
First Locations
Dime Community Bank's very first location was in the basement of the First National Bank Building. This building was near the Williamsburg Bridge. The bank opened there on June 1, 1864.
As the bank grew, it needed more 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 main office again to 300 Cadman Plaza West in Brooklyn.
A Landmark Building
The old Havemeyer Street building, located at 209 Havemeyer Street (or 257 South 5th Street), is very special. On March 27, 2018, it was named a New York City landmark by the New York City Landmarks Preservation Commission. This means the building is historically important and protected.
The building was built between 1906 and 1908. It was designed in the Neoclassical style by a company called Helmle & Huberty.
Images for kids
-
A robot friend
See also
In Spanish: Dime Savings Bank of Williamsburgh para niños
