Dime Commercial Bank

Dime Commercial Bank: commercial and personal banking in New York and Long Island

Dime Commercial Bank is a banking institution with more than 160 years of history that serves the needs of commercial and personal banking. According to its own presentation, the institution operates 62 branches and has more than 800 employees, several of whom are also shareholders of the company. The bank is a wholly-owned subsidiary of Dime Commercial Bancshares, Inc., a company listed on the New York Stock Exchange under the ticker DCOM.

The institution defines itself as a community bank with a presence in New York and Long Island, and states that its mission is to build personal relationships with individual and business customers in the region. It is a member of the federal FDIC deposit insurance program and operates as an Equal Housing Lender.

Commercial banking: financing and treasury management

The bank's commercial area is organized into two main blocks: financing and treasury solutions. On the lending side, the offering includes commercial and industrial (C&I) lending, commercial real estate lending, fund finance, equipment financing and sponsor finance. The institution also mentions lines of credit, term loans, SBA loans and letters of credit among the products available to businesses.

In treasury, Dime Commercial Bank offers online banking services for businesses, payment and receivable management, fraud prevention, liquidity solutions and escrow services. The list of treasury products on its website is extensive: Positive Pay for checks and ACH, ACH origination, automatic sweeps, zero balance accounts, lockbox services, remote deposit, domestic and international transfers, integrated payments, corporate cards, merchant services, mobile banking and SFTP/FTP connectivity, among others.

Industries served

The institution groups its commercial offering by industry. Among the areas it expressly mentions are manufacturing, healthcare, technology, retail, law firms and title companies, municipalities, not-for-profit organizations, property management and real estate. For each of these groups, the bank combines treasury management tools with dedicated service teams.

Personal and wealth banking

In the retail segment, Dime Commercial Bank offers checking accounts, Mastercard debit cards, checks, certificates of deposit (CDs), money market accounts and savings accounts. The institution also offers personal mortgages, title insurance, credit cards and wealth management services. The offering is completed by mortgage account management tools, mortgage calculators and financial resources for customers.

Digital banking and service channels

The bank has separate online banking for individuals and businesses, with a Business Online Banking Plus version. Customers can enroll in personal online banking and contact their banker to sign up for business online banking. The institution also offers mobile banking and an app to manage accounts from mobile devices.

Recognition and community activity

According to information published by the bank itself, its overall Community Reinvestment Act rating is "Outstanding" and the Federal Reserve Bank of New York notes it as a "Leader in providing community development services." The institution also presents itself as the official commercial and retail bank of the New York Islanders and the official private bank of the New York Jets.

Dime Commercial Bank states that it maintains ties with the communities in which it operates and supports, together with its employees and their families, professional, educational and not-for-profit organizations, with the stated goal of improving life and work in New York City and Long Island.

Corporate structure and recent news

Dime Commercial Bank is a wholly-owned subsidiary of Dime Commercial Bancshares, Inc., a company listed on the NYSE (ticker DCOM). Among the recent news featured on its website are the launch of an Affordable Housing Group, the declaration of a quarterly cash dividend for Series A preferred stock and a 17% year-over-year increase in earnings per share.

The institution is headquartered at 898 Veterans Memorial Highway, Suite 560, Hauppauge, NY 11788, and its routing number is 021406667. It is registered with NMLS #410372.

Location and contact

898 Veterans Memorial Highway, Suite 560, Hauppauge, NY 11788