The Dime Community Bank, originally known as the Dime Savings Bank of Williamsburgh, is a local, FDIC-insured bank based in the Williamsburg neighborhood of Brooklyn, New York, operating in the area since 1864.
Video Dime Community Bank
Corporate profile
Dime offers personal banking products, like checking and savings accounts, debit cards, students accounts, money market accounts, and certificates of deposit. Their retirement planning products include IRAs and Roth IRAs. Dime also offers personal insurance products provided through their subsidiary company, Dime Insurance Agency, Inc.
Dime Community Bank operates 28 branches throughout the New York metropolitan area in Brooklyn, Queens, the Bronx, and Nassau.
The current President and CEO is Kenneth J. Mahon. In its 150-year history, only 14 presidents have led Dime Bank, 2 of them for nearly 30 years each. Dime often promotes from inside the organization.
The bank is a wholly owned subsidiary of Dime Community Bancshares, Inc. (NASDAQ: DCOM), a publicly owned company. Dime Community Bancshares posted $6 billion in consolidated assets as of February 1, 2018.
Dime finished among the top 5 on the S&P Global Market Intelligence thrift ranking ("S&P Global") for 9 consecutive years, from 2009 to 2017.
Maps Dime Community Bank
History
Dime Community Bank has been located in Brooklyn for more than 150 years, having first opened its doors on June 1, 1864. Founded by civic-minded community leader William Grandy, Dime was established as a mutual savings bank serving the growing immigrant and low-income populations in the area during the mid-1800s.
When the Brooklyn Bridge was completed in 1883, the area grew even more and the bank made a name for itself helping anchor the neighborhood's housing market with competitive home loans and fair terms.
Dime weathered a series of economic ups and downs as conditions in Williamsburg changed, finally incorporating and becoming a publicly traded company on June 26, 1996. At the same time, Dime acquired Conestoga Bancorp, Inc. and its wholly owned subsidiary, Pioneer Savings Bank, making it the first simultaneous IPO/acquisition of its kind in the nation.
In 1999, Dime acquired Financial Bancorp, Inc. (Financial Federal Savings Bank) for $74 million.
Notable buildings
Dime Community Bank's first location was in the basement of the First National Bank Building at the base of the Williamsburg Bridge, where it opened on June 1, 1864. Operating from there until 1908, Dime officially purchased the entire historic building. Having outgrown the First National Bank building, Dime moved its headquarters to a new development in the Williamsburg Bridge Plaza on the corner of Havemeyer and South 5th Street. On January 16, 2017, Dime moved to its current headquarters at 300 Cadman Plaza West, Brooklyn, NY.
The Havemeyer Street building at 209 Havemeyer Street, or 257 South 5th Street, was designated a New York City landmark by the New York City Landmarks Preservation Commission on March 27, 2018. The building was constructed in 1906-08, and was designed in the Neoclassical style by the firm of Helmle & Huberty.
References
External links
- Official website
Source of article : Wikipedia
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