The acquisition was completed in January 1995. July 3, 2020. The merger of BNB Bank and Dime Community Bank has been completed, the parent companies of the two banks announced this week. Following a merger with BNB Bank, Dime is now one of Greater Long Island’s largest community banks with $13 billion in assets and more than 60 branches from Montauk to Manhattan. The all-stock deal was valued at $489 million. If you experience any issues with this process, please contact us for further assistance. The all-stock deal, valued at … Slater, Karen, "3 Major BHCs May Bid for Big New York Thrift," American Banker, January 8, 1982. We're a locally managed $13 billion bank with an excess -- in excess of $1 billion of … Our merger has created a bank that has an [Indecipherable] was acquired. The partnership with UBS Arena gives the Bank a high profile foothold at a location central to its New York City / Long Island network. Dime has become one of Greater Long Island's largest community banks since its merger earlier this year with BNB Bank. Stuart Lebow, president of Dime, sold his previously company, Community National Bank… In July 1994, Dime Bancorp announced the pending acquisition of the Hewlett, New York-based Anchor Bancorp with its Anchor Savings Bank, FSB subsidiary for $1.2 billion in stock. Bridge Bancorp in Bridgehampton, N.Y., is merging with Dime Community Bancshares in Brooklyn, N.Y., in an all-stock deal valued at $489 million. The coronavirus delayed, and nearly derailed, a big merger of New York banks. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. The existing Dime and BNB Bank products are to remain separate until April 19, 2021 when a new set of products are to be launched by the newly merged entity. Dime has become one of Greater Long Island’s largest community banks since its merger earlier this year with BNB Bank. The headquarters will be moved in Hauppauge, N.Y., with a corporate office in New York. The parties have filed an application with New York State Department of Financial Services to merge Dime Community Bank with and into BNB Bank, which is pending. Dime has $13 billion in assets and more than 60 branches from Montauk to Manhattan. Bridge Bancorp Inc. and Dime Community Bancshares Inc. entered into merger agreement in July. In addition, the Federal Reserve Bank of New York has issued its non-objection to waive the requirement of the filing of a Bank Holding Company Act application in connection with the merger of Bridge and Dime. The combined bank will operate under the name Dime Community Bank, with branch coverage throughout Long Island, including the branch on North Ferry road. Pursuant to the terms of the agreement dated July 1, 2020, each share of Legacy Dime was converted into 0.648 common shares of Bridge and the combined company was renamed Dime Community Bancshares, Inc. Beginning today, the combined company will trade on The NASDAQ … Though Bridge is the legal acquirer, Dime’s shareholders will own 52% of the company, which will operate as Dime. As part of the partnership, Dime was also named a founding partner of UBS Arena and will have its name on the largest private club in the Islanders’ new home. Bridge Bancorp, Dime Community merger : Bridge Bancorp has signed an all-stock merger deal worth about $489 million with rival New York State bank holding company Dime Community Bancshares.. avinash.reddy@dime.com. Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered community commercial bank that was founded in 1864. Dime Community Investor Sues To Block $489M Bank Merger. Bridge Bancorp, Inc. and Dime Community Bancshares, Inc. to Combine in Merger of Equals Creating The Best Business Bank in New York “Prior to the onset of our commercial bank transformation four years ago, Dime … The merger combines two complementary banking technology platforms to create a premier community-based business bank. Bridge Bancorp, Inc. BDGE and Dime Community Bancshares, Inc. DCOM announced a ‘merger of equals’ deal last week. Dime Community Bancshares in Brooklyn and Bridge Bancorp in Bridgehampton were in the homestretch of negotiating their $489 million dealin late March — Bridge had even scheduled a board meeting to approve it — when the pandemic created uncertainty.. Certain retail locations on the East End will operate under the BNB Bank … The parent companies for BNB Bank and Dime Community Bank announced a merger agreement last week, a transaction valued at approximately $489 million. The merger deal is being taken up for establishing a premier community-based business bank with over $11 billion in assets under management, total deposits of over $8 billion, and 66 … Dime has become one of Greater Long Island’s largest community banks since its merger earlier this year with BNB Bank. Instead of endorsing the deal, Bridge’s board decided at … The Dime Club, which accommodate 1,300 lower … BNB Bank will soon have a new name. "Dime Savings Bank Organizes Division for Commercial Loans," Wall Street Journal, December 17, 1980. History. Bridge Bancorp and Dime Community Bancshares Announce Approval of Merger of Equals. Dime has become one of Greater Long Island’s largest community banks since its merger earlier this year with BNB Bank. "Dime Savings Bank Agrees to a Merger with New York S&L," Wall Street Journal, July 12, 1978. The parties have filed an application with New York State Department of Financial Services to merge Dime Community Bank into BNB Bank, and have requested a waiver of a formal application process with the Federal Reserve Board with respect to any holding company application, each of which is pending. By Rose Krebs. As Dime's current CEO Ken Mahon said on a call with investors after the deal, this is "a true merger of equals," and I think this is a fair assessment. Dime has $13 billion in assets and … Bridge Bancorp, Inc. BDGE and Dime Community Bancshares, Inc. DCOM announced a ‘merger of equals’ deal last week. The partnership with UBS Arena gives the Bank a high profile foothold at a location central to its New York City / Long Island network. Dime has $13 billion in assets and more than 60 branches from Montauk to Manhattan. The Dime and BNB leadership has a relationship that predates the merger. David Winzelberg covers real estate, franchising, … Kenneth Mahon, the current CEO of Dime, will become executive chairman of the post-merger company. At Dime Community Bank, we promise to treat your data with respect and will not share your information with any third party. The combined company, trading on the NASDAQ Global … The two companies announced today they have entered into a definitive merger agreement in an all-stock deal valued at $489 million. The parent companies for BNB Bank and Dime Community Bank announced a merger agreement last week, a … About the Author. The all-stock deal, valued at … The parent companies for BNB Bank … Dime Community Bank to merge with BNB Bank. The merger resulted in a newly combined company with 76 branches in New York, 18 in New Jersey and 5 in Florida. Dime Community Bancshares, Inc. Bridge Bancorp Inc. and Dime Community Bancshares, Inc. announced that they have received the required regulatory approval from the Board of Governors of the Federal Reserve System to merge Dime Community Bank into BNB Bank, according to a company release. Share . BNB has taken the Dime name, effective Feb. 1. BRIDGEHAMPTON, N.Y. and BROOKLYN, N.Y., Dec. 22, 2020 (GLOBE NEWSWIRE) -- Bridge Bancorp, Inc. (Nasdaq: BDGE), the parent company of BNB Bank, and Dime Community Bancshares, Inc. (Nasdaq: DCOM), the parent company of Dime Community Bank, today jointly announced that the … Dime has $13 billion in assets and … Law360 (September 25, 2020, 5:32 PM EDT) -- A Dime Community Bancshares Inc. investor has filed a … Bridge Bancorp, the parent company of BNB Bank, is merging with Dime Community Bancshares, the parent company of Dime Community Bank. The merger is just one of many to be expected throughout the first quarter of 2021. 12/22/20. BNB Bank to become Dime Community Bank in $489M merger. And Dime Community Bancshares, Inc. Close Merger of Equals By admin February 3, 2021 No Comments.
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