Overview

• US regional bank's Q2 revenue hit record on net interest margin expansion and loan growth

• Adjusted diluted EPS for Q2 rose to $0.79 from $0.64 a year earlier

• Company plans to resume share buybacks in Q3, citing strong capital position

Outlook

• Dime expects to resume share buybacks in the third qtr

• Company anticipates loan repricing opportunities to continue through 2027

• Growth in core deposits and business loans expected to benefit results over time

Result Drivers

• NET INTEREST MARGIN EXPANSION - Co said higher net interest margin was a key driver of record Q2 revenue

• BUSINESS LOAN GROWTH - Co cited strong growth in business loans as a major contributor to Q2 results

• CORE DEPOSIT GROWTH - Co reported substantial year-over-year growth in core deposits, supporting funding and margin

Company press release: ID:nGNX6Mb1c3

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 Net Income		$34.81 mln
Q2 Net Interest Income		$115.19 mln
Q2 Net Interest Margin (%)		3.28%

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy"

• Wall Street's median 12-month price target for Dime Commercial Bancshares Inc is $46.00, about 16.6% above its July 22 closing price of $39.46

• The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads

• July 20 - ServisFirst Bancshares Q2 EPS rises 40% on loan growth, higher net interest margin

• July 23 - Huntington Bancshares Q2 net income rises 39% sequentially on loan growth

• July 21 - KeyCorp quarterly profit rises on interest income strength

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