Therefore, its best to use Encyclopedia.com citations as a starting point before checking the style against your school or publications requirements and the most-recent information available at these sites: http://www.chicagomanualofstyle.org/tools_citationguide.html. Encyclopedia.com. More information on Dime Community Bancshares, Inc. and Dime Community Bank can be found on Dime's website at www.dime.com. Click to get this free reportBridge Bancorp, Inc. (BDGE) : Free Stock Analysis ReportPacific Premier Bancorp Inc (PPBI) : Free Stock Analysis ReportDime Community Bancshares, Inc. (DCOM) : Free Stock Analysis ReportSouth State Corporation (SSB) : Free Stock Analysis ReportTo read this article on Zacks.com click here. Connect with the definitive source for global and local news. 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. The Bank celebrates its 50th Anniversary! As a result, actual results may differ materially from the anticipated results discussed in these forward-looking statements because of possible uncertainties. 5909Email:avinash.reddy@dime.com. The bank was formerly headquartered at 9 DeKalb Avenue, built in 1906-08 in Downtown Brooklyn. Dime Community Bank is headquartered in Brooklyn, NY and operates twenty-eight banking offices located throughout Brooklyn, Queens, the Bronx, Nassau The documents filed by PacWest with the SEC may be obtained at PacWest Bancorps website at www.pacwestbancorp.com may be obtained at the SECs website at www.sec.gov. The two sides quickly worked out a plan involving a fixed exchange ratio and exclusive negotiations. Square 1s expertise in the venture capital banking space, especially with technology and life sciences companies and their investors, is a complementary fit with our existing national lending platform.. Incorporated: 1905 as Socit, Ross Stores, Inc. The deal, with Bridge as the legal acquirer, valued Dime at 97% of its tangible book value. Dime was founded in 1864. Holland & Knight LLP served as legal counsel to Legacy Dime. (, This page was last edited on 26 January 2023, at 19:13. Dime Community Bancshares, Inc. HAUPPAUGE, N.Y., Sept. 21, 2022 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the Company or Dime), the parent company of Dime Community Bank (the Bank) announced today that Vincent F. Palagiano is retiring from the Board of Directors, effective September 21, 2022. Dictionary of American History. By the early twentieth century, the McCrory Corporation, under the ownership of Meshulam Riklis, owned many of the famous names but operated only 160 stores. Dime and Anchor shareholders will meet separately around Dec. 15 to vote on the merger, said David Totaro, head of marketing at Dime. Type a symbol or company name. List of bank mergers in the United States, "List of bank mergers in the United States", Learn how and when to remove this template message, National Bank of Wilmington and Brandywine, Pennsylvania Company for Insurances on Lives and Granting Annuities, Catham Phenix National Bank and Trust Company, Bank of America Private Wealth Management, "Trust Companies Combine; International Banking and Trust to Unite with North American", "Which bank is the oldest? | Source: BNB Bank has 38 branches on Long Island, Queens and Manhattan, andDime Community Bank has 28 branches in New York City and Long Island. When the revised merger agreement was reviewed in late June, there were no material changes from the terms reached on April 1, the filing said. The five-and-ten-cent stores copied the department store concept of a wide variety of merchandise. Dime Community Bancshares, Inc.Investor Relations Contact: Avinash ReddySenior Executive Vice President Chief Financial OfficerPhone: 718-782-6200; Ext. After a merger with these chains in 1911, the F. W. Woolworth Company became the dominant variety store chain in the United States and Great Britain. LOS ANGELES, Oct. 07, 2015 (GLOBE NEWSWIRE) -- PacWest Bancorp (NASDAQ:PACW) ("PacWest") today announced the completion of its merger with But PayPal and Apple Pay have a huge lead over rivals, and are already experienced combatants in the battle for consumers' spending. Dime was acquired by Washington Mutual in 2002, which subsequently failed in 2008 and was acquired by JPMorgan Chase, which currently owns all former Dime assets. BY TIMOTHY BOLGER. Woolworth eliminated the wholesaler and also entered into a buying arrangement with other store operators across the country. To read this article on Zacks.com click here. As of Dec.31, Dime had 421 full-time and 36 part-time employees, while Bridge reported having 496 full-time equivalent employees. NEW YORK (AP) _ Richard D. Parsons' surprise decision to step down as Dime Bancorp Inc.'s chairman and assume the presidency of Time Warner Inc. comes amid the bank's preparations to merge with Anchor Bancorp. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>, Want the latest recommendations from Zacks Investment Research? The bank lost hundreds of millions of dollars in 1989 after making risky home loans. The two sides eventually agreed to a merger of equals in July, but the ups and downs of the negotiations outlined in the filing show the delicate nature of trying to structure a merger in the middle of a pandemic. The new entity will have 66 branches from Montauk to Manhattan. They lost the stationery business to the new home office stores. WebIn 2017, Dime moved its headquarters to Brooklyn Heights. U.S.A. WebThe merger creates one of the largest networks of financial services in the world. So Bridges directors had OConnor contact Dime to tell it that, while the board endorsed the transaction, now was not the right time to proceed, the filing added. Fax: (501) 376-591, Minyard Food Stores, Inc. The Square 1 Bank Division will continue its nationwide focus on venture-backed companies and venture capital firms, and will continue to offer a full spectrum of deposit, treasury management, and lending products. Dime Community Bancshares, Inc.Investor Relations Contact:Avinash ReddySenior Executive Vice President Chief Financial OfficerPhone: 718-782-6200; Ext. [3] The merger resulted in a newly combined company with 76 branches in New York, 18 in New Jersey and 5 in Florida. By June 15, Bridges stock had improved both in absolute terms and relative to the improvement in Dimes stock price, bringing the exchange ratio back within an acceptable range, the filing said. Dime was included in the assets that were sold to JPMorgan Chase by the Federal Deposit Insurance Corporation after Washington Mutual was seized and placed in receivership. Large will become the merged banks chairman, officials said, while Lawrence J. Toal will be president and chief operating officer. Lebhar, Godfrey M. Chain Stores in America, 18591962. We are very excited to begin this new chapter in our institutions histories.. Bridges board created a special committee on Dec. 20 that included Marcia Hefter, the companys chairman, and Mathew Lindenbaum, an activist investor who had joined the companys board in 2018. They discussed having Mahon serve as executive chairman with OConnor as CEO. It was significantly enlarged by Halsey, McCormack and Helmer in 1931-32. Because each style has its own formatting nuances that evolve over time and not all information is available for every reference entry or article, Encyclopedia.com cannot guarantee each citation it generates. The stores' major merchandise classifications in the early days included toys, notions (sewing supplies), china, glassware, stationery, shoes, and Christmas ornaments. The headquarters will be moved in Hauppauge, N.Y., with a corporate office in New York. The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: (1) the businesses of Bridge and Dime may not be combined successfully, or such combination may take longer, be more difficult, time-consuming or costly to accomplish than expected; (2) the expected growth opportunities or cost savings from the Merger may not be fully realized or may take longer to realize than expected; (3) deposit attrition, operating costs, customer losses and business disruption following the Merger, including adverse effects on relationships with employees and customers, may be greater than expected; (4) economic, legislative or regulatory changes, including changes in accounting standards, may adversely affect the businesses in which Dime is engaged; (5) the interest rate environment may further compress margins and adversely affect net interest income; (6) results may be adversely affected by continued adverse changes to credit quality; (7) competition from other financial services companies in Dimes markets could adversely affect operations; (8) an economic slowdown could adversely affect credit quality and loan originations; (9) the COVID-19 pandemic is adversely affecting Dime and its customers, employees and third-party service providers; the adverse impacts of the pandemic on their respective business, financial position, operations and prospects have been material, and it is not possible to accurately predict the extent, severity or duration of the pandemic or when normal economic and operation conditions will return; and (10) other factors that may affect future results of Dime including changes in asset quality and credit risk; the inability to sustain revenue and earnings growth; changes in interest rates and capital markets; inflation; customer borrowing, repayment, investment and deposit practices; the impact, extent and timing of technological changes; capital management activities; and other actions of the Federal Reserve Board and legislative and regulatory actions and reforms. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company, and include, among others, statements about the benefits of the business combination transaction involving PacWest and Square 1, including expectations with respect to future financial and operational performance, and other statements that are not historical facts. Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. A sharp decline in Bridges stock price also skewed the proposed exchange ratio so much that it threatened the deals earnings accretion, prompting the two sides to formally end talks in late May. 25 May. History", Indiana Michigan Power Center (Fort Wayne), https://en.wikipedia.org/w/index.php?title=Dime_Savings_Bank_of_New_York&oldid=1146431159, 2002 disestablishments in New York (state), Official website different in Wikidata and Wikipedia, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 24 March 2023, at 20:58. Douglas H. Bowers, former President and CEO of Square 1, will be President of the Square 1 Bank Division upon completion of the merger. (1) 42 82 34 56 This is a partial list of major banking company mergers in the United States. As a result, the exchange ratio increased to 0.648 shares of Bridge stock, cutting into the deals projected earnings accretion. Office Stores merger creates one of the largest networks of Financial services in the world 9 DeKalb Avenue built! U.S.A. WebThe merger creates one of the largest networks of Financial services in world. 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