DCOM - Earnings call 4 2023 | Dime Community Bancshares, Inc.

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Operator

Good day, and thank you for standing by. Welcome to the Dime Community Bancshares Fourth Quarter Earnings Conference Call. [Operator Instructions].

Before we begin, the company would like to remind you that discussions during this call contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. as to results and those company's to any statements subject may factors contained filings are today's such actual in cause differ including, with statements the risks, and other uncertainties that in press U.S. Such release forth the set materially from and Securities you. Commission, which to Exchange refer we

be to or measures will operating performance. assess a references call, non-GAAP are this the prepared and intended made to financial isolation U.S. financial and accordance non-GAAP review financial considered measures substitute for During presented be GAAP. as as with not to supplemental in measures information These the in

these about release. information GAAP, be please for to non-GAAP For recorded. a Please reconciliation conference to measures and today's advised earnings today's that refer being is

hand today, the your Please to to CEO. and like Stuart President ahead. over speaker go conference now would Lubow, I

Stuart Lubow

Good Reddy, you, joining fourth Avi me our all today this CFO, quarter morning morning. is for Shannon. you our for call. us thank Thank With earnings and

an year-over-year many was regional over year in a in of $XXX as business failing high of model and uncertainty, and Throughout is this $XXX the rates loans deposits by interest remained all significant respects, and to resulting deposits. unprecedented demonstrated Federal banks on X taking growth Dime's liquidity in multi-decade XXXX Reserve focus over resilient with million million.

serve Importantly, in ahead. XXXX, engines growth as will the cornerstone in for in place that we years put investments franchise the several

DDA. portfolio were to to stands their cross-functional million team In bankers a attract assembled and second Signature rapidly being approximately internal groups, XX% $XXX approximately at onboard the able deposit we we in with productive Bank. First, at from X quarter, XX/XX, gathering

the provided groups. put for joined XXXX, a we new building private operation solid commercial existing that gathering operations. after Dime To and attract us provide us these in background, deposit I bank blocks foundation helped some This our in place

and these at New to that are We only was bank overall fact stands Metro the attract our the groups XXXX. that in approximately model talented Today, testament bank and commercial of client-first management to and billion, of inclusive $X.X hired was our bankers, state-of-the-art in systems. York business the treasury technology proud new portfolio private deposit a able Dime our

course second made we the significant the of believe and best-in-class this platform truly of enhancements in half now in the York and Over New the have business year, Metro private technology-related operational we client area. the

new I portfolio this build the be segment As have said, we groups. in and of growth will ahead via engine our Dime as the acquisition clients for new years

balance on C&I market our building care asset to XXXX. heels capacity sheet. the lending to 'XX. in This of in a operation origination We the business out Moving added the a out of health side loan building follows by vertical brand-new middle

this over pipeline the The care team Our in health in our $XXX and average solid is vertical care growing vertical diversity and market, add is now with our of margins. balance with X%. health to sheet will an million actively new rate

strong there bring bank individual over will as stack. be from as institutions who seek more groups our we front add talented in We the Once amount of to we larger locally with more managed well an do spend opportunity believe clients coupled fallout time local significant again, recruiting a potential a future. and of bankers management the believe to have and on to relationship-based treasury continue technology

as for Dime environment summary, back dynamic navigate was take market advantage it the offense playing strategic on important XXXX, of opportunities. look to In we while and

business sheet which owner-occupied strategic growth want creating planning process, year-end loan out CRE. in and on by more includes have medium portfolio, long-term we I just to completed and our our a lay on balance goals. We As our intend diversified C&I focusing

growing is we future CRE, weighting. investor range growing business strong over business to historically of X-year a and business been for a have balance have to Right such XX% X- reducing loans remix sheet that operators our greater XX% -- this loans, in the and we multifamily committed to very the approximately loans the While that time account focus loans multi-foundry for to frame. to now, XX% envision XX% and will

XX% provide the with on current rate how on A the some XX% year million our pipeline. earnest way, loans. pipeline look business indicates the in of is To approximately at the loan you ago, sheet loans we By for context business a pipeline $XXX accounted transformation, about are balance our average X.XX%. pipeline only the in

our allow on us growing DDA term. private Building range on and a to to we and have to ratio key the will had XX% medium focus. as gathering lower balances bank between a well grow XX% our continue as deposit over commercial front, be loan-to-deposit the success will This the

we I've the additional teams hire year expect to bankers As top the said, time are and with discussions ahead. numerous in at current in quality

profitability goals. Finally, some I our on provide to want thoughts

in extremely we book the asset repricings will the turns things NIM expenses. will a we ROA a and over. continue XXXX, This see 'XX, of asset can, the the in improvement are market, balance on to be rates In as a XXX our significant disciplined on including Returning key limited normalize. we XXXX sheet and focused the repricing side. highly maturities there and that to as accomplished to getting staying side by asset interim, has in While control increased is XXX we on

shareholders returns. our customers a shareholders credit underwriter focus only on conservative As a been with I our last of bank of service outstanding main a strong our providing -- delivering always earnings can that has provide, hallmark financialized is our Being growing Dime. managed call, community and our locally said in value

past our have portfolio. dues very level low to no dues including multifamily -- of We loans, nonperforming a continue billion in including past $X

quality our NIM remaining remaining were With asset We slow, see continuing metrics and continuing respect quarter to fourth ratios to grow core EPS steady, to approximately DDA results, was to pleased the contraction stable. $X.XX. balances capital

on these challenging all closing, employees staying would to times. In focused goals during thank like I for our our outstanding

provide Avi details the will on quarter. more now

Avinash Reddy

Thank Reported share. you, EPS $X.XX Stu. was per

approximately impact EPS of core would certain by the impacted a year of have related FDIC of tax the assessment was half rate disallowed XX%, and severance. in tax to been $X.XX. second Excluding rate items the The the special executive assuming normalized

expectation tax release, in As XXXX rate press mentioned for is for our the the around XX%.

we points was expected, basis the and points slowed As compared the compression in the X of to prior NIM even compression the basis further pace fourth XX quarter quarter. in only

our percentage deposits, total average community differentiator Dime of clear in XX% versus banks deposit remains a for noninterest-bearing our footprint. other At

revenue manage to environment We continue are prudently. challenging of expenses and cognizant the

as is Our focus being efficient possible. as

was special intangible excluding amortization the assessment and $XX.X FDIC million. Expenses for the fourth quarter, onetime

and $XXX full excluding amortization to special Notably, $XXX below the expense, to to approximately the by year, processes noninterest able for assessment, automate cash organization million, manual guide well For were the open we our using intangible million. hires XXXX and cost roles was of FDIC of into and absorb organization annual $XXX new million our severance technology base. talented from across filling expenses our rationalizing promoting by employee

remain for the the third quarter XX was million. fourth loans income basis provision $X.X points. allowance Noninterest $X.X to in The a at We quarter. steady had million

Dime's of cognizant Investor that capital. really for CRE scrutiny of total on X regard, been has more We're this residential are In lot is which a multifamily loans only or CRE tenants loans, there concentration, excluding XXX% concentration.

growing concentration This dropped capital. to focus as building and business on we continue loans levels quarter, our

environment, sheet as our This capital support relates the is when clients of build In light will, they posture turn, to to need overall methodically. it the in balance our it.

our by XX capital basis points. approximately ratios This increased risk-based quarter,

guidance for to turn will XXXX. some I Now

and remain As for This within to more help you in Of remaining goals we deposit cutting rates. national on peer than know, will for our quarter the by of fourth and do NIM require in deposit the projections into our X.XX. to of rates, buckets. the our important we $XXX mid-Xs cost mentioned at All assets we as getting base It's of we the don't weighting current potentially years deposit various have levels to And few our cuts the to which approximately our provide NIM anticipate that any originations, a base offset consumer we even Fed points note medium segmenting asset on basis rational Once deposit loan longer-term earlier, and rate repricing. groups. prepare down. and to back equal, should else This And contingent cuts envision betas a of reprice. historical higher of note, Fed significant the levels such, Reserve us until levels low begun to and the less quarterly million already has as see are XXXX XXXX terms higher. quantitative NIM to is remaining at creep expansion Federal guidance. expect competition starts way

in basis, Multifamily through lending, with our relationships. growth our see and And clients half latter loan to in will the in our strategy in stable to growth the single servicing we expect the growth continue respect low the portfolio. we to With a aggregate the of business positioning to continue Cree any operating Investor on we in still of an is portfolio to Stu where declines first Growth as our existing support in environment. ensure On offset loan and business are XXXX mentioned, we solid year be year. half key digits

to $XX.X we operating noninterest million. $XXX take of annualize respect cash get if With to million core expenses, cash we and the that, QX expenses

to for be as to range base, flat which million to a equates expect to We XXXX. that on $XXX X.X% up million $XXX

mentioned the XXXX is core earlier, As around for rate XX%. the I tax expectation for

happy your questions. back I'll be that, to we the and call take turn to the With will operator,

Operator

from Raymond [Operator Moss of James. comes Instructions] Steve Our first question line with the

Stephen Moss

activity on Maybe here, margin just the Avi. starting

on you many the in to do the that to you How Fed it will take -- I you low level? Xs of cuts think getting Just curious terms into get cuts margin. hear rate how

Avinash Reddy

Yes. Steve, the don't we're we quantitative give following curve, forward Look, just guidance.

we're groups But that see what forward to the said, XXX the yield at you we've and positive in I with will historically was and if curve with we we say were around above end and the potential you into the low I the a ends above assume DDA X-year treasury which confident do forward were the that. mid-Xs. of the internal on the XX% up follow if that be the you should up new NIM. where we some we get our to sloping back to even curve model, hired, curve, growing follow As peak, to XX%

starts don't XXXX, really said, we and have a XXXX assets repricing, but of Stu lot that picking up in As XXXX.

So I'll there. at it just leave

Stephen Moss

And much assets have do repricing an in could just you XXXX? me you remind how

Avinash Reddy

Yes, sure.

have million $XXX as to probably around million estate $XXX in And XXXX. coming have have on due. So well on we security we -- assets side, the million around side of $XXX real we the then

Stephen Moss

to -- there? XXXX in And Okay. step-up from then meaningful a

Avinash Reddy

Yes.

right? we For XXXX, in up, have the $XXX that on we year. have securities. million around million securities then to we $X.X in X a million step you asset meaningful around then of side, assets in So if $XXX And roll year around billion of forward $XXX of and And XXXX, XXXX XXXX, have XXXX.

the to contractual, pull Now -- forward Fed some of those XXXX from right? some you're in XXXX. that's rates, repricing a that But see if going asset cuts of year X.X

Stephen Moss

the just that you health upcoming you you could to -- And Wondering teams that. vertical. the curious, give just pipeline could just care how on Appreciate the hire out looking sorry, any Okay. you in And I'm you was year? additional the are but mentioned there. also, large if cut number? Stu, if

Stuart Lubow

pipeline is point, at average X%. million of a rate So the $XXX weighted approximately with this

growth And happy the pipeline. in with the so we're very

have We quarter. first first expect the our in closings to

are going things So well.

and In and teams care-related looking we're terms I teams, a also we're health -- couple have are there yes, deposits their and of other mean, of we them. as looking at looking of part individuals that book, at related are C&I at additional significant

Stephen Moss

the guide that expense Okay. for to Or would the And be additive hires year? expenses? does contemplate additional

Avinash Reddy

Yes.

expense So $XXX groups, guidance I right, beat go you think, $X we gave X if to and Steve, the by guidance million and we last we hired year, million. to of back million, $XXX

think I of cognizant expenses. So very we're

quickly. from very But have. with quick I I line period and will we groups, do right on group the the that the now, payback they're it's very just teams that perspective. and say mean We profitable bottom a hire would is very groups very,

Stuart Lubow

that, on new are to year, on both our on guide. and expense we individuals, income those I mean of teams opportunity, cognizant within both cover brought Yes. we're very groups of mean on in last I we we brought expense costs the able managing sides side. the ads XX bringing

Stephen Moss

color nonperforming that. loan. Okay. question, on you Great. one just curious could the that I one I real appreciate Any estate just And assume give commercial credit? any -- it's -- on last there

Stuart Lubow

Both had policy payments a have loan a nonaccrual. Yes. payments It's were and X houses issues remit need that take is fully that us. The time, is to did schools. that current paying. put not been the -- to X building loan and Since payments some borrower in tenants a order made, X we of tenanted loan out our

So we loan anticipate nonaccrual of -- coming actually quarter. that coming out this

Operator

question with Piper next Mark Fitzgibbon from line of Our comes the Sandler.

Mark Fitzgibbon

Just elevated in quarters. those out tax rate rate first the tax are fourth the discrete explain Could the both were, in was third to on they you of items clarify, the Avi, just fully and what the what will be and quarter?

Avinash Reddy

other items, cumulative look CEO we been number, of it's obviously upon tax issues back it with Yes. succession then the the bank. obviously were the our true-up at a And some to income XX% related so to XXXM to you provision up. the historically, return in It's XX% mean primarily, Mark, picks items. area that if has had. level type rate I depends there

So is to XX% next next year. a year, reasonable use for rate

Mark Fitzgibbon

on or from? large other Great. are you banks? Okay. do Or then, those comments see hiring Stu, teams And teams, legacy those presumably from additional coming mostly Signature where your

Stuart Lubow

would say the of all I above. Yes.

at So that Signature conversation serious both there's in teams opportunities some other existing within with. and we're institutions

Mark Fitzgibbon

brought you've teams What that teams are in books and So matured they've that have have think of -- once fully of million migrated their doing hired, deposits. teams of X of do over? capable those kind the you those $XXX-and-some-odd

Avinash Reddy

Mark. sure, Yes,

$XXX were on teams million the at back we're XX, $XXX we go we $XXX to were at December Today, September you million. XX, million. So

down is it seems and I basis, a really it steady million look point. $XX $XX So we to and level on of a like at account thing at slowed level it's per client the quarter build this not million good mean yet. an

over they're there. on So take to in Again, over time continued the this to clients. we heavily very growth see At expect move quarters does focused DDA. ahead it point,

the as really So we a to out I very pretty while, new Stu they've that they're really, additive become far, they for hiring here is quickly that us to groups. opportunity that. think now profitable going said, set the be expectations meeting so And been as continue grow And well and to overall. But for quick. that's

Mark Fitzgibbon

space Is you of held up that last a Okay. next The I the several balance in had, and all? has been at your quarters? lot question dislocation Stu, sort M&A sheet there's is about obviously think, priority, banking of Are for thinking a the well. you Dime over

Stuart Lubow

about There's Look, for M&A there. mean, and out And talk obviously, -- the with right that sheets issues certainly up. opportunities. has M&A transaction, I explore balance we're has certainly still the interested. are would marks picked certainly, the

given levels And years, do much in of out and I there's think, I be and where kind So a be M&A there's there. next in to time, much several the our of to going going certainly, for particularly has think an balance more over And the activity strength there's sheet, space. we us. the the certainly direction, Fed once the out marketplace and think are to I be discussion going opportunity more in

Operator

from Our with next question Company. the line Davidson Manuel D.A. of comes & Navas

Manuel Navas

rest? of Just And thinking new and base. the great inflection what's we the a of caused would outflows teams an of deposit you're year. on see with for trends about growth overall recently? that deposit Just having next When the are that lot. It's the those kind the adding success comment kind driving some hires deposit

Avinash Reddy

in deposits Yes. a by year challenging. very we $XXX was grew Look, I Manuel, that million mean,

we on groups net-net $XXX a brought million, of bank. brought if flat you for were the basis, at rest on they in the on, So overall, the think, I right? overall we that around look the industry

entire think I holistically, you if We've DDA reasonable the really bank. stabilize that look So at seen pretty this environment. that's in across

And behind DDA. XXXX, DDA start is think at left -- you so really you're whatever I operational when is not bank the core

going a forward us gives that. of comfort lot that So with

here I the our and building bank commercial private as opportunity said. is deposits to really think Stu grow

$X.X important billion business is business. as have The deposits well. that We of in branch

we stabilize rate, behind All at us conceptually our deposit deposits, normalize be in over we've there doing base normalize, that's rates over to chunkier we've kind of tried like deposit I over well there. where should and and Obviously, higher there looked everybody so base think our time, And XXXX. as are else.

to The at of mean important part XXX% is at looking also ratio, I the at actually we're right? now. XXX closer loan-to-deposit end we're year, the the right

that for perspective pretty have feel we that fund projecting loan the we're from deposit comfortable that the growth growth XXXX. So we to

Stuart Lubow

see importantly, you DDA is stable. quarter-over-quarter Yes. And most

say lot to have last So balances of can the grow quarters. opportunities a see that over their banks X I think not And to are that base. DDA we stable that remained there continue

Operator

Our next the question from of with Chris KBW. O'Connell comes line

Christopher O'Connell

getting time. you that to So that's you're comments, to opening longer XXX talked about Xs I term? Is about in up assuming as that the your think ROA below over to well XXX talking NIM get there, that

Avinash Reddy

Yes. Yes, Chris, correct.

Christopher O'Connell

guys benefit of thinking be it's pace it. time? won't cutting little about about, does bit preparing helpful. Fed deposit would the kind way, of book give you Feds of that talked Got process. the starts for know first the this getting of are full gradual NIM how Fed a thinking no the and magnitude as You in accelerate a guidance, cuts? guide, the the Are you you about quantitative your once a but in a quarter I pace I know just but cutting And quantitative expansion or if over methodical guys of kind

Avinash Reddy

Yes.

to deposit terms very rates. plan cutting of side in on the we think aggressive I be

customers. municipal more As is I to said, and book business our weighted

balance that on On then side repricings less sheet, starts in up asset will 'XX of balance right? the the there's to us aggressive and to as That's we that really XXXX, front. the on liability side and allow mentioned, of the 'XX. in pick sheet, that So more be

the can which asset up some to around see something But deposit I on you side X the side. pace deposit on So of pick of costs side, we asset are payoffs expect question split the are on very would going going on the will what it be depend and you the balance aggressive you I'd we side, say how on say sheet. that's into if deposit of and up the the that. see to to control,

will just time On it bit nature the side, a and our assets. of the asset structure take given of little

throughout this, really with XX% those operating it's we of have. mind, time matter all right? keep back think get just I just the to a repricing opportunity that Chris, given over margins before bank a important It's in of DDA, time, we to

intentionally The that short million is other billion messaging borrowings that $XXX just reprice at kept rates as to I term, we that $X going balance that well. piece We've of that's around really and all to we've really to kept add position million drop. that wanted around borrowings shot. And have across immediately the $XXX are to when been sheet of really we've

So well. as that of we the do benefit have

Stuart Lubow

you month each in rates. And saw over basis anecdotally, on just December, X look month. month, Yes. in point saw rates if basis deposit loan December, increase increase an November in X And like point we and we

as we're the expecting So Avi feel Fed basis cuts. hence, we until NIM relatively flat do a within few said, points that

Christopher O'Connell

or you know, on really X years I know kind the kind of of have past, the hasn't mean, mean would But when of a of I lines, for margin normalized so. Fed don't I do the along that what it I much And That's impact prepayment Great. think kind helpful. the been same -- is margin? the

Avinash Reddy

better like be right X -- because a is the now, going is lot what right Yes. basis it fees to to be than it basis or points. Look, has X now prepayment the point on it's whole margin

Dime, on I to legacy think XX have if you go we between fees. XX back basis points to used and prepayment

overall is portfolio. that's of smaller Multifamily be obviously, a to Now piece the going

necessarily, not and when points happen would think that's a don't in basis just So given... assumption. probably pick to bad say anywhere X XX XXXX I up, between it's speeds I going But really

Stuart Lubow

towards most likely, does, it's if be late it XXXX. going Yes, to

Avinash Reddy

Yes.

Stuart Lubow

the rate Assuming cuts. Fed

Avinash Reddy

Yes.

Christopher O'Connell

provide of the Great. were bit just And a could color what charge-offs on little you of the net quarter? for drivers this

Avinash Reddy

Yes, sure.

had reserved loan just we charged off for. a fully fully it we that previously So

we million quarter So we off. a loan, prudent so that we thought to Stu mentioned nonaccrual really the last was was put that charge. of it back process there. couple last quarter, still new something legal had status charge took It's on over credit $X in a that that fully nothing but years in

Christopher O'Connell

Got guys ratio couple being the it. assume in that we're release of analyzed. comments of for loans reserving did a reserve the like the I And in then you given some other individually

around comments any those? Just

Avinash Reddy

Sure.

addition So reserved there of it. was It's a new couple we dollar to the net portfolio. C&I fully loan, X million against

this started in paying at time, a However, there's that they and for out. potential too have point coming so

Stuart Lubow

Yes. come loan -- on a That was a C&I loan had matured, terms to couldn't and contractor was that we renewal.

basic And so so we on probably we conservative brought it approach. in on have have the of that for in quarter we'll and current terms were back status. reserve first fully then, renewal, agreed put and accrual We through -- our made a that close -- that. on very they we Since

Operator

next comes Our Stephens. Breese line Matthew of from with question the

Matthew Breese

guidance feels of X, the there. just ones for getting light X have to to XX% of like needs your to me. It a quick for runoff, loans Just Multifamily years. couple pace Stu, get the to accelerate XX% next in of over

a quarterly be to so good I we of a run if of curious of achieve representation should goals? was modeling And order rate kind is in kind X% better reduction this those Multifamily or quarter's what in

Avinash Reddy

near I for yes. think the term, Matt, Yes,

over is we to going So to have course limited is we're we said, which X why amount XXXX, in years, our get there. a specifically repricings X the of and of like guide maturities

speed rates, are months that. cutting repricing, pickup the go X-year was estimates going to think start QX the the our or eventually, years, up right? numbers I do now, loans reasonable X So for starts and So XX%. a if us. of maturity it's so. you then next why it's seeing X%, couple on or Right X- the the Fed portfolio which you're -- again payoff for And what back Multifamily a is in come for this is But then a as to QX goal

Stuart Lubow

and million million at each we're $XX mean satisfactions mean to we're $XX have next looking I -- for going I to SATs we're Yes. month. projected getting already in this we're SATs for and month, looking month. probably requests

So I mean activity transactions there, happening. there out some is some

And so -- chunky. but very it's

see suffice amount when So it's it's hard say satisfactions say, But of to to you're significant runoff. going exactly each to we some are seeing month.

Avinash Reddy

Pipeline.

Matthew Breese

I think mean, the points product... Multifamily, said I to can XX% the back one go we made a of it effectively you payoff just X-year for historically, was duration you to type there, making activity XX%

Avinash Reddy

No, comment XX%. No. X was back peak, was Yes. the the payoff at the years Matt, there rate

multi-decade over you're the XX% the is multifamily XX% X%. true at side. look you it rate between horizon, to payoff a now, probably on it's If and Right X%

again, of a up. And as It's X feed more the So bucket. up. thing trying forward generally that we down, issue, can control come worth terms to give pretty want ending sheet clear. is timing into what they years Matt. in balance look The of a but catch -- we see the where we're we to and X of rates We're

And the no multifamily really loans pipeline. so right have now, we in

So...

Stuart Lubow

in don't think, multifamily. any For the time, pipeline we I ever, have first

Matthew Breese

Got it.

Okay.

X more this question topic. Just on

or you rolling higher of them the reaches and into waiting into kind their they rates? of floating the multifamily Are lower rates are reprice As go for elsewhere? the common typical standard kind end seeing X-year the behavior? willfully of What kind is borrower of fixed,

Avinash Reddy

Sure.

we rate. back So looked Matt, went at our XXXX vintage yes, and

that's matured repriced So or XXXX. basically in

time around to at repricing that's the it's XX% So that XX% taking this satisfying in XX% point around is of option. and

in X/X it's mix. X/X, So basically of the terms

that will competitors towards. see trending the is those given as more take low of satisfy in are where just we market from there say away the the us of to They're market rates come reprice. are to high probably you're that loans kind the down, going Xs, now in not right Now and Xs

Stuart Lubow

figure it these of a view those taking viewed at as the do the Yes. once even I But a go because trigger many rollover short and rates down, prepay. a not why term, rollover, -- mean refinancing they'll come they're it of through short-term to -- they though pull expense as they going they're rates.

Matthew Breese

and The and all it. we color. balance start Got to I focus continues sheet the the moves last reflect to it appreciate conceptually, sense, bit, for the should make today's multifamily but banking see little be as away XX start increase if alone, is XX% one on from on sense that me a to reserve just that higher? business traditional for bps makes is does multifamily reserve

Avinash Reddy

Matt, yes, absolutely.

Stuart Lubow

our for reserve loans Yes. I calls mean X% methodology least at on C&I today.

occur So as of -- And will naturally process. we're that than significantly on, so just higher multifamily. C&I we what as loans we transition put are reserving for that part origination our

Operator

Lubow like [Operator call back the Instructions] And remarks. over I'm to I'd Stuart time. closing currently to for showing no further this questions hand at

Stuart Lubow

quarter. worked like again, seeing once shareholders and look year these for to we I'd thank our the employees forward their challenges diligently dedicated to continued support, Well, throughout and our next who through thank you

Operator

for concludes participation. today's This call. conference your Thank you

You now disconnect. may

Dime Community Bancshares (DCOM) 26 Jan 242023 Q4 Earnings call transcript