Dime Community Bancshares Announces New Branch Opening in Westchester County, New York

Dime Community Bancshares, Inc. has announced plans to open a new branch in Westchester County, New York. The company’s application for this location at 55 Church Street, White Plains, has received approval from both the New York State Department of Financial Services and the Federal Reserve Bank of New York. This expansion marks a significant step in Dime’s growth strategy, which aims to enhance its service offerings in the area.

Stuart H. Lubow, President and CEO of Dime, expressed enthusiasm about the new branch, emphasizing its importance in extending Dime’s reach within the community. Lubow highlighted that the opening of this branch reflects Dime’s long-standing strength in the financial sector, having served customers for over 160 years. To lead the new team in Westchester, the bank has appointed Michael Maloney, who will focus on business customers, alongside John Murphy, who will manage relations with non-profit organizations. Both leaders bring extensive experience and have previously contributed to the success of their former institutions.

Dime Community Bancshares operates Dime Community Bank, which holds over $13.5 billion in assets. The bank is recognized for having the highest deposit market share among community banks in Greater Long Island. The leadership believes that this expansion will not only benefit existing customers but also attract new clients, further solidifying Dime’s presence in the region.