MERGER (Tables)

6 Months Ended

Jun. 30, 2021

MERGER

Schedule of Bridge and legacy Dime common stock

	Dime Community Bancshares, Inc. Ownership and Market Value
	Number of				Market Value at
	Bridge		Percentage		$24.43 Bridge
(Dollars and shares in thousands)	Outstanding Shares		Ownership		Share Price
Bridge shareholders		19,993		48.5%	$	488,420
Legacy Dime shareholders		21,233		51.5%		518,720
Total		41,226		100.0%	$	1,007,140

Schedule of hypothetical number of shares

	Hypothetical Legacy Dime Ownership
	Number of
	Legacy Dime		Percentage
(Shares in thousands)	Outstanding Shares		Ownership
Bridge shareholders		30,853		48.5%
Legacy Dime shareholders		32,767		51.5%
Total		63,620		100.0%

Schedule of purchase price

(Dollars and shares in thousands)
Number of hypothetical Legacy Dime shares issued to Bridge shareholders		30,853
Legacy Dime market price per share as of February 1, 2021	$	15.90
Purchase price determination of hypothetical Legacy Dime shares issued to Bridge shareholders	$	490,560
Value of Bridge stock options hypothetically converted to options to acquire shares of Legacy Dime common stock		643
Cash in lieu of fractional shares		7
Purchase price consideration	$	491,210

Schedule of purchase price allocation

(In thousands)
Purchase price consideration	$	491,210
Fair value of assets acquired:
Cash and due from banks		715,988
Securities available-for-sale		651,997
Loans held for sale		10,000
Loans held for investment		4,531,640
Premises and fixed assets		37,881
Restricted stock		23,362
BOLI		94,085
Other intangible assets		10,984
Operating lease assets		45,603
Other assets		117,474
Total assets acquired		6,239,014
Fair value of liabilities assumed:
Deposits		5,405,575
Other short-term borrowings		216,298
Subordinated debt		83,200
Operating lease liabilities		45,285
Other liabilities		97,147
Total liabilities assumed		5,847,505
Fair value of net identifiable assets		391,509
Goodwill resulting from Merger	$	99,701

Schedule of loans acquired

(In thousands)
PCD loans:
Unpaid principal balance	$	295,306
Non-credit discount at acquisition		(9,050)
Unpaid principal balance, net		286,256
Allowance for credit losses at acquisition		(52,284)
Fair value at acquisition		233,972
Non-PCD loans:
Unpaid principal balance		4,289,236
Premium at acquisition		8,432
Fair value at acquisition		4,297,668
Total fair value at acquisition	$	4,531,640

Schedule of supplemental disclosures of cash flow information

(In thousands)
Business combination:
Fair value of tangible assets acquired	$	6,228,030
Goodwill, core deposit intangible and other intangible assets acquired		110,685
Liabilities assumed		5,847,505
Purchase price consideration		491,210

Schedule of pro forma amount

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(Dollars in thousands except per share amounts)	2021		2020		2021		2020
Net interest income	$	90,771	$	86,126	$	181,183	$	165,637
Non-interest income		29,544		10,638		23,512		20,091
Net income		53,000		23,755		52,804		42,044
Net income available to common shareholders		50,620		22,351		48,690		40,378
Earnings per share:
Basic		1.24		0.54		1.18		0.98
Diluted		1.24		0.54		1.18		0.98