Dime Community Bancshares, Inc. Announces Completion of Subordinated Notes Offering
HAUPPAUGE, N.Y., June 28, 2024 (GLOBE NEWSWIRE) — Dime Community Bancshares, Inc. (the “Company”) (NASDAQ: “DCOM”), the parent company of Dime Community Bank (the “Bank”), announced today the completion of its public offering and sale of $65,000,000 of its 9.000% fixed-to-floating rate subordinated notes due 2034 (the “Notes”) in a registered public offering (the “Offering”). The Notes were sold at par, resulting in net proceeds, after discounts and estimated offering expenses, of approximately $62,655,000. The Company also granted the underwriters a 30-day option to purchase up to an additional $9,750,000 aggregate principal amount of the Notes to cover overallotments, if any. If the underwriters exercise their overallotment option in full, the total gross proceeds, before discounts and estimated offering expenses, will be $74,750,000 and the net proceeds, after discounts and estimated offering expenses, will be approximately $72,112,500.