Delaware
|
0-27782
|
11-3297463
|
||
(State or other jurisdiction of incorporation)
|
(Commission File Number)
|
(IRS Employer Identification No.)
|
☐
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
☐
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14d-2(b))
|
☐
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
☐
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
99
|
Press release of the Registrant, dated April 28, 2016, containing a discussion of Registrant's results of operations and financial condition for the quarter ended March 31, 2016.
|
By:
|
/s/ MICHAEL PUCELLA
|
Michael Pucella
|
|
Executive Vice President and Chief Accounting Officer (Principal Financial Officer)
|
(99)
|
Press release of the Registrant, dated April 28, 2016, containing a discussion of Registrant's results of operations and financial condition for the quarter ended March 31, 2016.
|
·
|
Net Interest Margin
|
·
|
Net Interest Income
|
·
|
Provision/Allowance for Loan Losses
|
·
|
Non-Interest Income
|
·
|
Non-Interest Expense
|
·
|
Income Tax Expense
|
·
|
Real Estate Loans
|
·
|
Credit Summary
|
·
|
Deposits and Borrowed Funds
|
·
|
Capital
|
DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES
|
||||||||
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
|
||||||||
(In thousands except share amounts)
|
||||||||
March 31,
|
December 31,
|
|||||||
2016
|
2015
|
|||||||
ASSETS:
|
||||||||
Cash and due from banks
|
$
|
192,917
|
$
|
64,154
|
||||
Investment securities held to maturity
|
5,290
|
5,242
|
||||||
Investment securities available for sale
|
3,787
|
3,756
|
||||||
Trading securities
|
10,368
|
10,201
|
||||||
Mortgage-backed securities available for sale
|
417
|
431
|
||||||
Federal funds sold and other short-term investments
|
-
|
-
|
||||||
Real Estate Loans:
|
||||||||
One-to-four family and cooperative/condomnium apartment
|
74,734
|
72,095
|
||||||
Multifamily and loans underlying cooperatives (1)
|
4,077,657
|
3,752,328
|
||||||
Commercial real estate (1)
|
895,196
|
863,184
|
||||||
Unearned discounts and net deferred loan fees
|
7,706
|
7,579
|
||||||
Total real estate loans
|
5,055,293
|
4,695,186
|
||||||
Other loans
|
1,354
|
1,590
|
||||||
Allowance for loan losses
|
(18,513
|
)
|
(18,514
|
)
|
||||
Total loans, net
|
5,038,134
|
4,678,262
|
||||||
Premises and fixed assets, net
|
13,770
|
15,150
|
||||||
Premises held for sale
|
1,379
|
8,799
|
||||||
Federal Home Loan Bank of New York capital stock
|
63,681
|
58,713
|
||||||
Other Real Estate Owned
|
18
|
148
|
||||||
Goodwill
|
55,638
|
55,638
|
||||||
Other assets
|
131,960
|
132,378
|
||||||
TOTAL ASSETS
|
$
|
5,517,359
|
$
|
5,032,872
|
||||
LIABILITIES AND STOCKHOLDERS' EQUITY:
|
||||||||
Deposits:
|
||||||||
Non-interest bearing checking
|
$
|
250,339
|
$
|
259,182
|
||||
Interest bearing checking
|
82,850
|
78,994
|
||||||
Savings
|
368,685
|
368,671
|
||||||
Money Market
|
1,756,823
|
1,618,617
|
||||||
Sub-total
|
2,458,697
|
2,325,464
|
||||||
Certificates of deposit
|
981,059
|
858,846
|
||||||
Total Due to Depositors
|
3,439,756
|
3,184,310
|
||||||
Escrow and other deposits
|
126,315
|
77,130
|
||||||
Federal Home Loan Bank of New York advances
|
1,277,125
|
1,166,725
|
||||||
Trust preferred notes payable
|
70,680
|
70,680
|
||||||
Other liabilities
|
63,576
|
40,080
|
||||||
TOTAL LIABILITIES
|
4,977,452
|
4,538,925
|
||||||
STOCKHOLDERS' EQUITY:
|
||||||||
Common stock ($0.01 par, 125,000,000 shares authorized, 53,326,753 shares and 53,326,753 shares
|
||||||||
issued at March 31, 2016 and December 31, 2015 respectively, and 37,399,150 shares and 37,371,992
|
||||||||
shares outstanding at March 31, 2016 and December 31, 2015, respectively)
|
533
|
533
|
||||||
Additional paid-in capital
|
263,206
|
262,798
|
||||||
Retained earnings
|
496,518
|
451,606
|
||||||
Accumulated other comprehensive loss, net of deferred taxes
|
(8,548
|
)
|
(8,801
|
)
|
||||
Unallocated common stock of Employee Stock Ownership Plan
|
(2,256
|
)
|
(2,313
|
)
|
||||
Unearned Restricted Stock Award common stock
|
(2,279
|
)
|
(2,271
|
)
|
||||
Common stock held by the Benefit Maintenance Plan
|
(9,353
|
)
|
(9,354
|
)
|
||||
Treasury stock (15,927, 603 shares and 15,954,761 shares at March 31, 2016 and
|
||||||||
December 31, 2015, respectively)
|
(197,914
|
)
|
(198,251
|
)
|
||||
TOTAL STOCKHOLDERS' EQUITY
|
539,907
|
493,947
|
||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
|
$
|
5,517,359
|
$
|
5,032,872
|
||||
(1) While the loans within this category are often considered "commercial real estate" in nature, multifamily and loans underlying cooperatives are here reported separately from commercial real estate loans in order to
emphasize the residential nature of the collateral underlying this significant component of the total loan portfolio.
|
||||||||
DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES
|
||||||||||||
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
|
||||||||||||
(Dollars In thousands except share and per share amounts)
|
||||||||||||
For the Three Months Ended
|
||||||||||||
March 31,
|
December 31,
|
March 31,
|
||||||||||
2016
|
2015
|
2015
|
||||||||||
Interest income:
|
||||||||||||
Loans secured by real estate
|
$
|
45,651
|
$
|
43,977
|
$
|
41,788
|
||||||
Other loans
|
24
|
23
|
24
|
|||||||||
Mortgage-backed securities
|
2
|
2
|
181
|
|||||||||
Investment securities
|
173
|
331
|
169
|
|||||||||
Federal funds sold and
|
||||||||||||
other short-term investments
|
661
|
552
|
650
|
|||||||||
Total interest income
|
46,511
|
44,885
|
42,812
|
|||||||||
Interest expense:
|
||||||||||||
Deposits and escrow
|
6,794
|
6,225
|
5,220
|
|||||||||
Borrowed funds
|
5,086
|
5,074
|
7,498
|
|||||||||
Total interest expense
|
11,880
|
11,299
|
12,718
|
|||||||||
Net interest income
|
34,631
|
33,586
|
30,094
|
|||||||||
Credit for loan losses
|
(21
|
)
|
(439
|
)
|
(172
|
)
|
||||||
Net interest income after
|
||||||||||||
credit for loan losses
|
34,652
|
34,025
|
30,266
|
|||||||||
Non-interest income:
|
||||||||||||
Service charges and other fees
|
685
|
761
|
750
|
|||||||||
Mortgage banking income, net
|
28
|
29
|
72
|
|||||||||
Gain on sale of real estate properties
|
68,187
|
-
|
-
|
|||||||||
Gain on the sale of securities and other assets
|
40
|
-
|
1,388
|
|||||||||
Gain (loss) on trading securities
|
6
|
(14
|
)
|
62
|
||||||||
Other
|
795
|
963
|
1,029
|
|||||||||
Total non-interest income
|
69,741
|
1,739
|
3,301
|
|||||||||
Non-interest expense:
|
||||||||||||
Compensation and benefits
|
9,708
|
9,354
|
6,841
|
|||||||||
Occupancy and equipment
|
2,627
|
2,549
|
2,944
|
|||||||||
Federal deposit insurance premiums
|
739
|
602
|
551
|
|||||||||
Other
|
4,795
|
3,634
|
3,528
|
|||||||||
Total non-interest expense
|
17,869
|
16,139
|
13,864
|
|||||||||
Income before taxes
|
86,524
|
19,625
|
19,703
|
|||||||||
Income tax expense
|
36,487
|
8,241
|
7,925
|
|||||||||
Net Income
|
$
|
50,037
|
$
|
11,384
|
$
|
11,778
|
||||||
Earnings per Share ("EPS"):
|
$
|
1.37
|
$
|
0.31
|
$
|
0.33
|
||||||
Basic
|
$
|
1.36
|
$
|
0.31
|
$
|
0.33
|
||||||
Diluted
|
||||||||||||
Average common shares outstanding for Diluted EPS
|
36,662,951
|
36,521,748
|
36,053,459
|
|||||||||
|
DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES
|
||||||||||||
UNAUDITED SELECTED FINANCIAL HIGHLIGHTS
|
||||||||||||
(Dollars In thousands except per share amounts)
|
||||||||||||
For the Three Months Ended
|
||||||||||||
March 31,
|
December 31,
|
March 31,
|
||||||||||
2016
|
2015
|
2015
|
||||||||||
Reconciliation of Reported and Adjusted ("Core") Net Income (1):
|
||||||||||||
Net Income
|
$
|
50,037
|
$
|
11,384
|
$
|
11,778
|
||||||
Less: After tax gain on sale of securities
|
-
|
-
|
(764
|
)
|
||||||||
Add: After-tax expense associated with the prepayment of borrowings
|
-
|
-
|
750
|
|||||||||
Less: After tax gain on the sale of real estate
|
(37,483
|
)
|
-
|
-
|
||||||||
Less: After tax credit on curtailment of postretirement health benefits
|
-
|
-
|
(1,868
|
)
|
||||||||
Adjusted ("Core") net income
|
$
|
12,554
|
$
|
11,384
|
$
|
9,896
|
||||||
Performance Ratios (Based upon Reported Net Income):
|
||||||||||||
Reported Earnings Per Share ("EPS") (Diluted)
|
$
|
1.36
|
$
|
0.31
|
$
|
0.33
|
||||||
Return on Average Assets
|
3.87
|
%
|
0.93
|
%
|
1.04
|
%
|
||||||
Return on Average Stockholders' Equity
|
39.47
|
%
|
9.32
|
%
|
10.18
|
%
|
||||||
Return on Average Tangible Stockholders' Equity
|
43.49
|
%
|
10.30
|
%
|
11.33
|
%
|
||||||
Net Interest Spread
|
2.63
|
%
|
2.72
|
%
|
2.59
|
%
|
||||||
Net Interest Margin
|
2.80
|
%
|
2.88
|
%
|
2.80
|
%
|
||||||
Non-interest Expense to Average Assets
|
1.38
|
%
|
1.32
|
%
|
1.23
|
%
|
||||||
Efficiency Ratio
|
49.45
|
%
|
45.67
|
%
|
43.32
|
%
|
||||||
Effective Tax Rate
|
42.17
|
%
|
41.99
|
%
|
40.22
|
%
|
||||||
Performance Ratios (Based upon "Core Net Income" as calculated above):
|
||||||||||||
EPS (Diluted)
|
$
|
0.34
|
$
|
0.31
|
$
|
0.27
|
||||||
Return on Average Assets
|
0.97
|
%
|
0.93
|
%
|
0.88
|
%
|
||||||
Return on Average Stockholders' Equity
|
9.90
|
%
|
9.32
|
%
|
8.56
|
%
|
||||||
Return on Average Tangible Stockholders' Equity
|
10.91
|
%
|
10.30
|
%
|
9.52
|
%
|
||||||
Net Interest Spread
|
2.63
|
%
|
2.72
|
%
|
2.53
|
%
|
||||||
Net Interest Margin
|
2.80
|
%
|
2.88
|
%
|
2.71
|
%
|
||||||
Non-interest Expense to Average Assets
|
1.38
|
%
|
1.32
|
%
|
1.53
|
%
|
||||||
Efficiency Ratio
|
49.45
|
%
|
45.67
|
%
|
51.81
|
%
|
||||||
Effective Tax Rate
|
42.17
|
%
|
41.99
|
%
|
39.23
|
%
|
||||||
Book Value and Tangible Book Value Per Share:
|
||||||||||||
Stated Book Value Per Share
|
$
|
14.44
|
$
|
13.22
|
$
|
12.65
|
||||||
Tangible Book Value Per Share
|
13.18
|
11.96
|
11.40
|
|||||||||
Average Balance Data:
|
||||||||||||
Average Assets
|
$
|
5,171,368
|
$
|
4,875,199
|
$
|
4,520,316
|
||||||
Average Interest Earning Assets
|
4,955,643
|
4,657,917
|
4,301,804
|
|||||||||
Average Stockholders' Equity
|
507,151
|
488,845
|
462,670
|
|||||||||
Average Tangible Stockholders' Equity
|
460,249
|
442,277
|
415,827
|
|||||||||
Average Loans
|
4,818,516
|
4,555,291
|
4,174,083
|
|||||||||
Average Deposits
|
3,068,456
|
3,109,044
|
2,750,791
|
|||||||||
Asset Quality Summary:
|
||||||||||||
Net (recoveries) charge-offs
|
$
|
(20
|
)
|
$
|
6
|
$
|
84
|
|||||
Non-performing Loans (excluding loans held for sale)
|
1,442
|
1,611
|
6,399
|
|||||||||
Non-performing Loans/ Total Loans
|
0.03
|
%
|
0.03
|
%
|
0.15
|
%
|
||||||
Nonperforming Assets (2)
|
$
|
2,705
|
$
|
2,995
|
$
|
7,453
|
||||||
Nonperforming Assets/Total Assets
|
0.05
|
%
|
0.06
|
%
|
0.16
|
%
|
||||||
Allowance for Loan Loss/Total Loans
|
0.37
|
%
|
0.39
|
%
|
0.43
|
%
|
||||||
Allowance for Loan Loss/Non-performing Loans
|
1283.84
|
%
|
1149.22
|
%
|
285.00
|
%
|
||||||
Loans Delinquent 30 to 89 Days at period end
|
$
|
2,291
|
$
|
2,970
|
$
|
1,239
|
||||||
Consolidated Capital Ratios
|
||||||||||||
Tangible Stockholders' Equity to Tangible Assets at period end
|
9.02
|
%
|
8.98
|
%
|
9.27
|
%
|
||||||
Tier 1 Capital to Average Assets
|
10.97
|
%
|
10.70
|
%
|
10.81
|
%
|
||||||
Regulatory Capital Ratios (Bank Only):
|
||||||||||||
Common Equity Tier 1 Capital to Risk-Weighted Assets
|
11.50
|
%
|
11.55
|
%
|
12.43
|
%
|
||||||
Tier 1 Capital to Risk-Weighted Assets ("Tier 1 Capital Ratio")
|
11.50
|
%
|
11.55
|
%
|
12.43
|
%
|
||||||
Total Capital to Risk-Weighted Assets ("Total Capital Ratio")
|
11.93
|
%
|
12.03
|
%
|
12.98
|
%
|
||||||
Tier 1 Capital to Average Assets
|
9.57
|
%
|
9.17
|
%
|
9.24
|
%
|
||||||
(1) Adjusted ("Core") net income is a "non-GAAP" measure. A reconciliation from the comparable GAAP measure is provided herein.
|
||||||||||||
(2) Amount comprised of total non-accrual loans and the recorded balance of pooled bank trust preferred security investments that were deemed to meet the criteria of a non-performing asset.
|
DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES
|
|||||||||||
UNAUDITED AVERAGE BALANCES AND NET INTEREST INCOME
|
|||||||||||
(Dollars In thousands)
|
|||||||||||
For the Three Months Ended
|
|||||||||||
March 31, 2016
|
December 31, 2015
|
March 31, 2015
|
|||||||||
Average
|
Average
|
Average
|
|||||||||
Average
|
Yield/
|
Average
|
Yield/
|
Average
|
Yield/
|
||||||
Balance
|
Interest
|
Cost
|
Balance
|
Interest
|
Cost
|
Balance
|
Interest
|
Cost
|
|||
Assets:
|
|||||||||||
Interest-earning assets:
|
|||||||||||
Real estate loans
|
$4,817,095
|
$45,651
|
3.79%
|
$4,553,788
|
$43,977
|
3.86%
|
$4,172,422
|
$41,788
|
4.01%
|
||
Other loans
|
1,421
|
24
|
6.76
|
1,503
|
23
|
6.12
|
1,661
|
24
|
5.78
|
||
Mortgage-backed securities
|
414
|
2
|
1.93
|
425
|
2
|
1.88
|
23,119
|
181
|
3.13
|
||
Investment securities
|
20,217
|
173
|
3.42
|
18,773
|
331
|
7.05
|
18,414
|
169
|
3.67
|
||
Federal funds sold and other short-term investments
|
116,496
|
661
|
2.27
|
83,428
|
552
|
2.65
|
86,188
|
650
|
3.02
|
||
Total interest earning assets
|
4,955,643
|
$46,511
|
3.75%
|
4,657,917
|
$44,885
|
3.85%
|
4,301,804
|
$42,812
|
3.98%
|
||
Non-interest earning assets
|
215,725
|
217,282
|
218,512
|
||||||||
Total assets
|
$5,171,368
|
$4,875,199
|
$4,520,316
|
||||||||
Liabilities and Stockholders' Equity:
|
|||||||||||
Interest-bearing liabilities:
|
|||||||||||
Interest Bearing Checking accounts
|
$79,839
|
$56
|
0.28%
|
$76,932
|
$56
|
0.29%
|
$77,086
|
$55
|
0.29%
|
||
Money Market accounts
|
1,689,903
|
3,379
|
0.80
|
1,548,821
|
3,060
|
0.78
|
1,179,713
|
1,915
|
0.66
|
||
Savings accounts
|
367,707
|
45
|
0.05
|
365,563
|
46
|
0.05
|
372,308
|
45
|
0.05
|
||
Certificates of deposit
|
931,007
|
3,314
|
1.43
|
873,910
|
3,063
|
1.39
|
928,039
|
3,205
|
1.40
|
||
Total interest bearing deposits
|
3,068,456
|
6,794
|
0.89
|
2,865,226
|
6,225
|
0.86
|
2,557,146
|
5,220
|
0.81
|
||
Borrowed Funds
|
1,182,114
|
5,086
|
1.73
|
1,094,438
|
5,074
|
1.84
|
1,162,983
|
7,498
|
2.61
|
||
Total interest-bearing liabilities
|
4,250,570
|
$11,880
|
1.12%
|
3,959,664
|
$11,299
|
1.13%
|
3,720,129
|
$12,718
|
1.39%
|
||
Non-interest bearing checking accounts
|
260,977
|
243,818
|
193,645
|
||||||||
Other non-interest-bearing liabilities
|
152,670
|
182,872
|
143,872
|
||||||||
Total liabilities
|
4,664,217
|
4,386,354
|
4,057,646
|
||||||||
Stockholders' equity
|
507,151
|
488,845
|
462,670
|
||||||||
Total liabilities and stockholders' equity
|
$5,171,368
|
$4,875,199
|
$4,520,316
|
||||||||
Net interest income
|
$34,631
|
$33,586
|
$30,094
|
||||||||
Net interest spread
|
2.63%
|
2.72%
|
2.59%
|
||||||||
Net interest-earning assets
|
$705,073
|
$698,253
|
$581,675
|
||||||||
Net interest margin
|
2.80%
|
2.88%
|
2.80%
|
||||||||
Ratio of interest-earning assets to interest-bearing liabilities
|
116.59%
|
117.63%
|
115.64%
|
||||||||
Deposits (including non-interest bearing checking accounts)
|
$3,329,433
|
$6,794
|
0.82%
|
$3,109,044
|
$6,225
|
0.79%
|
$2,750,791
|
$5,220
|
0.77%
|
||
SUPPLEMENTAL INFORMATION
|
|||||||||||
Loan prepayment and late payment fee income
|
$2,618
|
$2,675
|
$2,299
|
||||||||
Borrowing prepayment costs
|
-
|
-
|
$1,362
|
||||||||
Real estate loans (excluding net prepayment and late payment fee income)
|
3.57%
|
3.63%
|
3.79%
|
||||||||
Interest earning assets (excluding net prepayment and late payment fee income)
|
3.54%
|
3.62%
|
3.77%
|
||||||||
Borrowings (excluding prepayment costs)
|
1.73%
|
1.84%
|
2.14%
|
||||||||
Interest bearing liabilities (excluding borrowing prepayment costs)
|
1.12%
|
1.13%
|
1.24%
|
||||||||
Net Interest income (excluding loan prepayment and late payment fees and borrowing
|
|||||||||||
prepayment costs)
|
$ 32,013
|
$ 30,911
|
$ 29,157
|
||||||||
Net Interest margin (excluding loan prepayment and late payment fees and
|
|||||||||||
borrowing prepayment costs)
|
2.58%
|
2.65%
|
2.71%
|
||||||||
DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIES
|
||||||||||||
UNAUDITED SCHEDULE OF NON-PERFORMING ASSETS AND TROUBLED DEBT RESTRUCTURINGS ("TDRs")
|
||||||||||||
(Dollars In thousands)
|
||||||||||||
At March 31,
|
At December 31,
|
At March 31,
|
||||||||||
Non-Performing Loans
|
2016
|
2015
|
2015
|
|||||||||
One- to four-family and cooperative/condominium apartment
|
$
|
1,102
|
$
|
1,113
|
$
|
1,141
|
||||||
Multifamily residential and mixed use residential real estate (1)(2)
|
287
|
287
|
537
|
|||||||||
Mixed use commercial real estate (2)
|
53
|
-
|
-
|
|||||||||
Commercial real estate
|
-
|
207
|
4,717
|
|||||||||
Other
|
-
|
4
|
4
|
|||||||||
Total Non-Performing Loans (3)
|
$
|
1,442
|
$
|
1,611
|
$
|
6,399
|
||||||
Other Non-Performing Assets
|
||||||||||||
Non-performing loans held for sale
|
-
|
-
|
-
|
|||||||||
Other real estate owned
|
18
|
148
|
148
|
|||||||||
Pooled bank trust preferred securities (4)
|
1,245
|
1,236
|
906
|
|||||||||
Total Non-Performing Assets
|
$
|
2,705
|
$
|
2,995
|
$
|
7,453
|
||||||
TDRs not included in non-performing loans (3)
|
||||||||||||
One- to four-family and cooperative/condominium apartment
|
384
|
598
|
603
|
|||||||||
Multifamily residential and mixed use residential real estate (1)(2)
|
685
|
696
|
721
|
|||||||||
Mixed use commercial real estate (2)
|
4,324
|
4,344
|
4,400
|
|||||||||
Commercial real estate
|
3,412
|
3,428
|
3,475
|
|||||||||
Total Performing TDRs
|
$
|
8,805
|
$
|
9,066
|
$
|
9,199
|
||||||
(1) Includes loans underlying cooperatives.
|
||||||||||||
(2) While the loans within these categories are often considered "commercial real estate" in nature, they are classified separately in this table because there is a residential component to the income, which makes them
|
||||||||||||
generally viewed as less risky than pure commercial real estate loans.
|
||||||||||||
(3) Total non-performing loans include some loans that were modified in a manner that met the criteria for a TDR. These non-accruing TDRs, which totaled $207 at December 31, 2015 and $5,088 at March 31, 2015, are
|
||||||||||||
included in the non-performing loan table, but excluded from the TDR amount shown above. There were no non-accruing TDRs at March 31, 2016.
|
||||||||||||
(4) As of the dates indicated, certain pooled bank trust preferred securities were deemed to meet the criteria of a non-performing asset.
|
||||||||||||
PROBLEM ASSETS AS A PERCENTAGE OF TANGIBLE CAPITAL AND RESERVES
|
||||||||||||
At March 31,
|
At December 31,
|
At March 31,
|
||||||||||
2016
|
2015
|
2015
|
||||||||||
Total Non-Performing Assets
|
$
|
2,705
|
$
|
2,995
|
$
|
7,453
|
||||||
Loans 90 days or more past due on accrual status (5)
|
4,713
|
4,532
|
1,711
|
|||||||||
TOTAL PROBLEM ASSETS
|
$
|
7,418
|
$
|
7,527
|
$
|
9,164
|
||||||
Tier One Capital - The Dime Savings Bank of Williamsburgh
|
$
|
487,759
|
$
|
440,374
|
$
|
416,067
|
||||||
Allowance for loan losses
|
18,513
|
18,514
|
18,237
|
|||||||||
TANGIBLE CAPITAL PLUS RESERVES
|
$
|
506,272
|
$
|
458,888
|
$
|
434,304
|
||||||
PROBLEM ASSETS AS A PERCENTAGE OF
|
||||||||||||
TANGIBLE CAPITAL AND RESERVES
|
1.5
|
%
|
1.6
|
%
|
2.1
|
%
|
||||||
(5) These loans were, as of the respective dates indicated, expected to be either satisfied, made current or re-financed within the following twelve months, and were not expected to result in any loss of contractual principal or interest. These loans are not included in non-performing loans.
|
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