Earnings release
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Page 1 Exhibit 99.1 Dime Commercial Bancshares, Inc. Reports 53% Year-Over-Year Increase in EPS NIM Expansion and Growth in Net Interest Income Drives Record Quarterly Revenue of $135 million Deposits Increased by 15% and Loans Increased by 8% on an Annualized Basis Versus The Linked Quarter Asset Liability Management Profile, Which is Underpinned by $2.2 Billion of Cash and a Growing Floating Rate Loan Portfolio, Positions Dime Well For Rising Rates Hauppauge, NY, October 20, 2026 (GLOBE NEWSWIRE) -- Dime Commercial Bancshares, Inc. (NYSE: DCOM) (the “Company” or “Dime”), the parent company of Dime Commercial Bank (the “Bank”), today reported net income available to common stockholders of $39.7 million for the quarter ended September 30, 2026, or $0.90 per diluted common share, compared to net income available to common stockholders of $33.0 million, or $0.75 per diluted common share, for the quarter ended June 30, 2026 and net income available to common stockholders of $25.8 million for the quarter ended September 30, 2025, or $0.59 per diluted common share. Adjusted net income available to common stockholders (non-GAAP) was $39.9 million and adjusted diluted EPS (non- GAAP) was $0.91 per share for the quarter ended September 30, 2026, compared to $0.79 per share for the quarter ended June 30, 2026, and $0.61 for the quarter ended September 30, 2025 (see "Non-GAAP Reconciliation" tables at the end of this news release). Stuart H. Lubow, President and Chief Executive Officer (“CEO”) of the Company, stated, “Dime continues to execute on our growth plan and delivered another quarter of record revenue. Third quarter results were marked by strong growth in core deposits and business loans and continued NIM expansion. Our return metrics continue to improve, and the Return on Average Assets improved to 1.10%. Our balance sheet, with $2.2 billion of cash and an 83% loan-to-deposit ratio, was intentionally constructed keeping in mind the potential for an elevated interest rate environment. We believe this highly liquid balance sheet uniquely positions Dime versus our local peers. Finally, we anticipate continued expansion in NIM and growth in Net Interest Income in the quarters ahead as we take advantage of growth opportunities and benefit from a significant loan repricing opportunity that we anticipate will continue through 2027.” Mr. Lubow continued, “As outlined in a separate press release, this morning we announced our intention to acquire ES Bancshares, Inc., the parent company of Empire State Bank (headquartered in Staten Island). This transaction represents another logical step in Dime's growth strategy.” Highlights for the Third Quarter of 2026 included: ● Return on Average Assets increased to 1.10% for the third quarter of 2026 compared to 0.94% for the prior quarter; ● Total deposits increased $1.08 billion on a year-over-year basis; ● Core deposits (excluding brokered and time deposits) increased $1.18 billion on a year-over-year basis; ● Average non-interest-bearing deposits to average total deposits for the third quarter increased to 32.1%; ● Business loans grew $346.6 million on a linked quarter basis and $929.1 million on a year-over-year basis; ● The net interest margin increased to 3.35% for the third quarter of 2026 compared to 3.28% for the prior quarter; ● The efficiency ratio decreased to 48.4% for the third quarter of 2026 compared to 53.8% for the third quarter of 2025; ● The Company’s Consolidated CRE Concentration ratio was proactively managed lower to 338%; ● The Company repurchased 298,003 shares of its common stock, which represented 0.7% of shares outstanding at the beginning of the period, at a weighted-average price of $40.64 per share; and ● Announced entry into the affordable housing space with the launch of a dedicated group that will be led by Michael Camoia, SVP, Head of Affordable Housing.
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Page 2 Management’s Discussion of Quarterly Operating Results Net Interest Income Net interest income for the third quarter of 2026 was $121.2 million compared to $115.2 million for the second quarter of 2026 and $103.4 million for the third quarter of 2025. The Net Interest Margin for the third quarter of 2026 was 3.35% compared to 3.28% for the second quarter of 2026 and 3.01% for the third quarter of 2025. Loan Portfolio The ending weighted average rate (“WAR”) on the total loan portfolio was 5.50% at September 30, 2026, a 14-basis point increase compared to the ending WAR of 5.36% on the total loan portfolio at June 30, 2026. Outlined below are loan balances and WARs for the quarter ended as indicated. September 30, 2026 June 30, 2026 September 30, 2025 (Dollars in thousands) Balance WAR (1) Balance WAR (1) Balance WAR (1) Loans held for investment balances at period end: Business loans (2) $ 3,991,773 6.44 % $ 3,645,194 6.32 % $ 3,062,674 6.60 %One-to-four family residential and coop/condo apartment 1,124,190 5.10 1,075,904 5.04 1,030,949 4.92Multifamily residential and residential mixed-use (3)(4) 2,951,768 4.54 3,113,647 4.48 3,509,811 4.52Non-owner-occupied commercial real estate 2,753,169 5.26 2,770,751 5.14 2,975,474 5.13Acquisition, development, and construction 88,587 6.76 90,476 7.10 139,145 8.04Other loans 8,668 12.28 8,401 11.81 7,621 11.14 Loans held for investment $ 10,918,155 5.50 % $ 10,704,373 5.36 % $ 10,725,674 5.37 % (1) WAR is calculated by aggregating interest based on the current loan rate from each loan in the category, adjusted for non-accrual loans, divided by the total balance of loans in the category. (2) Business loans include commercial and industrial loans, and owner-occupied commercial real estate loans. At September 30, 2025, business loans included balances related to Paycheck Protection Program (“PPP”) loans; no PPP loans were outstanding at September 30, 2026 or June 30, 2026. (3) Includes loans underlying multifamily cooperatives. (4) While the loans within this category are often considered "commercial real estate" in nature, multifamily and loans underlying cooperatives are 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. Outlined below are the loan originations for the quarter ended as indicated. (Dollars in millions) Q3 2026 Q2 2026 Q3 2025 Originations Excluding New Lines of Credit $ 374.8 $ 255.3 $ 170.6 Originations Including New Lines of Credit 745.8 533.4 535.6 Deposits and Borrowed Funds Period end total deposits (including mortgage escrow deposits) at September 30, 2026 were $13.14 billion, compared to $12.68 billion at June 30, 2026 and $12.06 billion at September 30, 2025. Brokered deposits were $200.0 million at September 30, 2026, compared to $200.0 million at June 30, 2026 and $200.0 million at September 30, 2025. Total Federal Home Loan Bank advances were lowered to $335.0 million at September 30, 2026, compared to $385.0 million at June 30, 2026 and $508.0 million at September 30, 2025.
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Page 3 Non-Interest Income Non-interest income was $14.1 million during the third quarter of 2026, $11.3 million during the second quarter of 2026, and $12.2 million during the third quarter of 2025. Excluding the fair value change in equity securities and loans held for sale, and (gain) loss on sale of securities, loans and other assets, non-interest income was $13.4 million during the third quarter of 2026, $13.2 million during the second quarter of 2026 and $13.3 million during the third quarter of 2025. Non-Interest Expense Total non-interest expense was $65.5 million during the third quarter of 2026, $64.7 million during the second quarter of 2026, and $62.2 million during the third quarter of 2025. Excluding the impact of the net loss (gain) on extinguishment of debt, amortization of other intangible assets and severance expense, adjusted non-interest expense was $64.3 million during the third quarter of 2026, $64.1 million during the second quarter of 2026, and $62.0 million during the third quarter of 2025 (see “Non-GAAP Reconciliation” tables at the end of this news release). The ratio of non-interest expense to average assets was 1.73% during the third quarter of 2026, compared to 1.74% during the linked quarter and 1.73% during the third quarter of 2025. Excluding the impact of the net loss (gain) on extinguishment of debt, amortization of other intangible assets and severance expense, the ratio of adjusted non-interest expense to average assets was 1.70% during the third quarter of 2026, 1.72% during the second quarter of 2026, and 1.72% during the third quarter of 2025 (see “Non-GAAP Reconciliation” tables at the end of this news release). The efficiency ratio was 48.4% during the third quarter of 2026, compared to 51.2% during the linked quarter and 53.8% during the third quarter of 2025. Excluding the impact of (gain) loss on sale of securities, loans and other assets, fair value change in equity securities and loans held for sale, severance expense, net loss (gain) on extinguishment of debt, and amortization of other intangible assets, the adjusted efficiency ratio was 47.8% during the third quarter of 2026, compared to 49.9% during the linked quarter and 53.1% during the third quarter of 2025 (see “Non-GAAP Reconciliation” tables at the end of this news release). Mr. Lubow commented, “Our organic growth strategy is paying dividends as evidenced by a decline in the core efficiency ratio to below 48% for the third quarter. Growth in revenues is anticipated to continue to drive the efficiency ratio lower in the years ahead.” Income Tax Expense Income tax expense was $14.5 million during the third quarter of 2026, $13.1 million during the second quarter of 2026, and $12.4 million during the third quarter of 2025. The effective tax rate for the third quarter of 2026 was 25.8%, compared to 27.3% for the second quarter of 2026 and 31.0% for the third quarter of 2025. Credit Quality Non-performing assets were $99.5 million at September 30, 2026, compared to $69.0 million at June 30, 2026 and $72.1 million at September 30, 2025. A credit loss provision of $13.8 million was recorded during the third quarter of 2026, compared to $13.9 million during the second quarter of 2026, and $13.3 million during the third quarter of 2025. Capital Management Stockholders’ equity increased $2.3 million to $1.52 billion at September 30, 2026. The Company’s and the Bank’s regulatory capital ratios continued to be in excess of all applicable regulatory requirements as of September 30, 2026. Dividends per common share were $0.25 for each of the third and second quarters of 2026. Book value per common share was $32.10 at September 30, 2026 compared to $31.79 at June 30, 2026. Tangible common book value per share (which represents common equity less goodwill and other intangible assets, divided by the number of shares outstanding) was $28.49 at September 30, 2026 compared to $28.21 at June 30, 2026 (see “Non-GAAP Reconciliation” tables at the end of this news release).
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Page 4 Earnings Call Information The Company will conduct a conference call at 8:30 a.m. (ET) on Tuesday, October 20, 2026, during which CEO Lubow will discuss the Company’s third quarter 2026 financial performance, with a question-and-answer session to follow. Participants may access the conference call via webcast using this link: https://edge.media-server.com/mmc/p/aihfhaeg. To participate via telephone, please register in advance using this link: https://register-conf.media- server.com/register/BIe576e0e1823d40b89d52de726f0b9563. Upon registration, all telephone participants will receive a one-time confirmation email detailing how to join the conference call, including the dial-in number along with a unique PIN that can be used to access the call. All participants are encouraged to dial-in 10 minutes prior to the start time. A replay of the conference call and webcast will be available on-demand for 12 months at https://edge.media- server.com/mmc/p/aihfhaeg. ABOUT DIME COMMERCIAL BANCSHARES, INC. Dime Commercial Bancshares, Inc. is the holding company for Dime Commercial Bank, a New York State-chartered trust company with approximately $15 billion in assets and the number one deposit market share on Greater Long Island (1). (1) Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for commercial banks with less than $20 billion in assets. This news release contains a number of forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements may be identified by use of words such as “annualized," “anticipate," "believe," “continue,” "could," "estimate," "expect," "intend," “likely,” "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar terms and phrases, including references to assumptions. Any forward-looking statements presented herein are made only as of the date of this release, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise, except as may be required by law. Forward-looking statements are based upon various assumptions and analyses made by the Company in light of management's experience and its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate under the circumstances. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors (many of which are beyond the Company's control) that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Accordingly, you should not place undue reliance on such statements. Factors that could affect our results include, without limitation, the following: the timing and occurrence or non-occurrence of events may be subject to circumstances beyond the Company’s control; there may be increases in competitive pressure among financial institutions or from non-financial institutions; changes in the interest rate environment may affect demand for our products and reduce interest margins and the value of our investments; changes in government monetary or fiscal policies and actions may adversely affect our customers, cost of credit and overall result of operations; changes in deposit flows, the cost of funds, loan demand or real estate values may adversely affect the business of the Company; changes in the quality and composition of the Company’s loan or investment portfolios or unanticipated or significant increases in loan losses may negatively affect the Company’s financial condition or results of operations; changes in accounting principles, policies or guidelines may cause the Company’s financial condition to be perceived differently; changes in corporate and/or individual income tax laws may adversely affect the Company's financial condition or results of operations; general socio-economic conditions, public health emergencies, international conflict, inflation, tariffs, and recessionary pressures, either nationally or locally in some or all areas in which the Company conducts business, or conditions in the securities markets or the banking industry may be less favorable than the Company currently anticipates and may adversely affect our customers, our financial results and our operations; legislation or regulatory changes may adversely affect the Company’s business; technological changes may be more difficult or expensive than the Company anticipates; there may be failures or breaches of information technology security systems; success or consummation of new business initiatives may be more difficult or expensive than the Company anticipates; there may be difficulties or unanticipated expense incurred in the consummation of new business initiatives or the integration of any acquired entities; and litigation or other matters before regulatory agencies, whether currently existing or commencing in the future, may delay the occurrence or non-occurrence of events longer than the Company anticipates. For discussion of these and other risks that may cause actual results to differ from expectations, please refer to the sections entitled “Forward-Looking Statements” and “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and updates set forth in the Company’s subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Contact: Avinash Reddy Senior Executive Vice President – Chief Operating Officer and Chief Financial Officer 718-782-6200 extension 5909
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Page 5 DIME COMMERCIAL BANCSHARES, INC. AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (In thousands) September 30, June 30, December 31, 2026 2026 2025 Assets: Cash and due from banks $ 2,184,800 $ 1,934,594 $ 2,353,966Securities available-for-sale, at fair value 897,276 895,251 797,935Securities held-to-maturity 701,601 706,606 618,901Loans held for sale 2,413 1,862 1,989Loans held for investment, net: Business loans (1) 3,991,773 3,645,194 3,240,600One-to-four family residential and coop/condo apartment 1,124,190 1,075,904 1,035,983Multifamily residential and residential mixed-use (2)(3) 2,951,768 3,113,647 3,424,565Non-owner-occupied commercial real estate 2,753,169 2,770,751 2,933,287Acquisition, development and construction 88,587 90,476 117,215Other loans 8,668 8,401 6,558 Allowance for credit losses (108,548) (104,963) (97,372) Total loans held for investment, net 10,809,607 10,599,410 10,660,836 Premises and fixed assets, net 28,711 30,570 31,255Restricted stock 59,046 61,167 67,197BOLI 422,101 417,459 401,163Goodwill 155,797 155,797 155,797Other intangible assets 2,339 2,534 2,938Operating lease assets 44,114 36,830 42,876Derivative assets 99,951 70,545 76,315Accrued interest receivable 57,694 56,282 55,572 Other assets 81,419 74,046 74,891 Total assets $ 15,546,869 $ 15,042,953 $ 15,341,631 Liabilities: Non-interest-bearing checking (excluding mortgage escrow deposits) $ 4,158,300 $ 3,946,965 $ 3,915,081Interest-bearing checking 1,068,293 1,140,667 1,178,281Savings (excluding mortgage escrow deposits) 1,608,662 1,621,056 1,777,143Money market 5,187,009 4,853,645 4,806,572 Certificates of deposit 1,034,729 1,068,824 1,117,118 Deposits (excluding mortgage escrow deposits) 13,056,993 12,631,157 12,794,195 Non-interest-bearing mortgage escrow deposits 81,429 45,980 47,051 Interest-bearing mortgage escrow deposits — — — Total mortgage escrow deposits 81,429 45,980 47,051 Total deposits (including mortgage escrow deposits) 13,138,422 12,677,137 12,841,246 FHLBNY advances 335,000 385,000 508,000Subordinated debt, net 231,313 231,186 272,503Derivative cash collateral 100,550 61,790 52,400Operating lease liabilities 46,834 39,626 45,729Derivative liabilities 99,394 69,631 73,573 Other liabilities 72,598 58,127 72,411 Total liabilities 14,024,111 13,522,497 13,865,862 Stockholders' equity: Preferred stock, Series A 116,569 116,569 116,569Common stock 462 462 462Additional paid-in capital 622,827 622,636 623,041Retained earnings 926,880 898,089 854,167Accumulated other comprehensive loss ("AOCI"), net of deferred taxes (46,314) (31,573) (31,468)Unearned equity awards (15,311) (17,590) (8,661) Treasury stock, at cost (82,355) (68,137) (78,341) Total stockholders' equity 1,522,758 1,520,456 1,475,769 Total liabilities and stockholders' equity $ 15,546,869 $ 15,042,953 $ 15,341,631 (1) Business loans include commercial and industrial loans, and owner-occupied commercial real estate loans. (2) Includes loans underlying multifamily cooperatives. (3) 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.
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Page 6 DIME COMMERCIAL BANCSHARES, INC. AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in thousands except share and per share amounts) Three Months Ended Nine Months Ended September 30, June 30, September 30, September 30, September 30, 2026 2026 2025 2026 2025 Interest income: Loans $ 149,776 $ 143,892 $ 147,756 $ 435,758 $ 435,909Securities 15,428 14,518 11,338 42,734 34,014Other short-term investments 18,182 16,840 16,449 53,544 35,035 Total interest income 183,386 175,250 175,543 532,036 504,958 Interest expense: Deposits and escrow 54,220 52,171 62,950 158,755 181,205Borrowed funds 7,279 7,351 8,406 22,930 25,141Derivative cash collateral 668 542 788 1,695 2,903 Total interest expense 62,167 60,064 72,144 183,380 209,249 Net interest income 121,219 115,186 103,399 348,656 295,709Provision for credit losses 13,812 13,875 13,294 40,000 32,141 Net interest income after provision 107,407 101,311 90,105 308,656 263,568 Non-interest income: Service charges and other fees 6,879 6,483 5,209 19,092 14,494Title fees 191 187 126 520 342Loan level derivative income 702 535 650 1,709 1,653BOLI income 4,683 5,038 4,956 14,279 13,135Gain on sale of Small Business Administration ("SBA") loans — 196 38 196 507Gain on sale of residential loans 77 49 37 198 119Fair value change in equity securities and loans held for sale (38) 38 51 (38) 152Gain on securities — — 14 — 163Gain (loss) on sale of loans and other assets 757 (2,000) (1,117) (1,563) (1,117)Other 877 740 2,247 2,347 3,991 Total non-interest income 14,128 11,266 12,211 36,740 33,439 Non-interest expense: Salaries and employee benefits 39,303 39,781 38,344 118,677 110,213Severance 974 454 6 1,530 218Occupancy and equipment 7,855 7,899 8,107 23,963 23,838Data processing costs 5,835 5,151 4,798 16,409 14,495Marketing 2,258 1,951 1,961 6,234 5,383Professional services 1,981 2,325 2,228 6,215 6,441Federal deposit insurance premiums 1,627 1,712 1,799 4,605 5,538Net loss (gain) on extinguishment of debt — 2 — (972) —Loss due to pension settlement — — — — 7,231Amortization of other intangible assets 195 195 236 599 723Other 5,475 5,231 4,745 15,700 13,954 Total non-interest expense 65,503 64,701 62,224 192,960 188,034 Income before taxes 56,032 47,876 40,092 152,436 108,973Income tax expense 14,472 13,062 12,421 41,480 30,147 Net income 41,560 34,814 27,671 110,956 78,826Preferred stock dividends 1,822 1,821 1,822 5,465 5,465 Net income available to common stockholders $ 39,738 $ 32,993 $ 25,849 $ 105,491 $ 73,361
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Page 7 DIME COMMERCIAL BANCSHARES, INC. AND SUBSIDIARIES UNAUDITED COMMON SHARE DATA (Dollars in thousands except per share amounts) Three Months Ended Nine Months Ended September 30, June 30, September 30, September 30, September 30, GAAP 2026 2026 2025 2026 2025 Net income available to common stockholders $ 39,738 $ 32,993 $ 25,849 $ 105,491 $ 73,361Less: Dividends paid and earnings allocated to participatingsecurities (801) (687) (493) (2,081) (1,323) Income attributable to common stock - Basic and Diluted $ 38,937 $ 32,306 $ 25,356 103,410 72,038 Weighted-average common shares outstanding 43,137,429 43,218,619 43,052,898 43,155,159 43,010,919 Basic and diluted earnings per share ("EPS") (1) $ 0.90 $ 0.75 $ 0.59 $ 2.40 $ 1.67 Non-GAAP Adjusted net income available to common stockholders (2) $ 39,914 $ 34,663 $ 26,588 $ 106,982 $ 79,139Less: Dividends paid and earnings allocated to participatingsecurities (805) (722) (507) (2,113) (1,417) Adjusted income attributable to common stock - Basic andDiluted $ 39,109 $ 33,941 $ 26,081 $ 104,869 $ 77,722 Weighted-average common shares outstanding 43,137,429 43,218,619 43,052,898 43,155,159 43,010,919 Adjusted basic and diluted EPS (3) $ 0.91 $ 0.79 $ 0.61 $ 2.43 $ 1.81 (1) The earnings per share is calculated by dividing income attributable to common stock by weighted-average common shares outstanding. (2) See "Non-GAAP Reconciliation" tables for reconciliation of reported and adjusted (non-GAAP) net income available to common stockholders. (3) The adjusted earnings per share is calculated by dividing adjusted income attributable to common stock by weighted-average common shares outstanding.
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Page 8 DIME COMMERCIAL BANCSHARES, INC. AND SUBSIDIARIES UNAUDITED SELECTED FINANCIAL HIGHLIGHTS (Dollars in thousands except per share amounts) At or For the Three Months Ended At or For the Nine Months Ended September 30, June 30, September 30, September 30, September 30, 2026 2026 2025 2026 2025 Per Share Data: Reported EPS (Diluted) $ 0.90 $ 0.75 $ 0.59 $ 2.40 $ 1.67Cash dividends paid per common share 0.25 0.25 0.25 0.75 0.75Book value per common share 32.10 31.79 30.44 32.10 30.44Tangible common book value per share (1) 28.49 28.21 26.81 28.49 26.81Common shares outstanding 43,811 44,158 43,889 43,811 43,889Dividend payout ratio 27.78 % 33.33 % 42.37 % 31.25 % 44.91 % Performance Ratios (Based upon Reported NetIncome): Return on average assets 1.10 % 0.94 % 0.77 % 0.99 % 0.75 %Return on average equity 10.77 9.15 7.59 9.71 7.31Return on average tangible common equity (1) 12.57 10.62 8.80 11.31 8.47Net interest margin 3.35 3.28 3.01 3.28 2.98Non-interest expense to average assets 1.73 1.74 1.73 1.72 1.78Efficiency ratio 48.4 51.2 53.8 50.1 57.1Effective tax rate 25.83 27.28 30.98 27.21 27.66 Balance Sheet Data: Average assets $ 15,142,449 $ 14,862,346 $ 14,426,002 $ 14,996,020 $ 14,074,794 Average interest-earning assets 14,364,889 14,086,464 13,638,036 14,218,475 13,267,962Average tangible common equity (1) 1,268,341 1,247,394 1,182,158 1,248,060 1,162,403Loan-to-deposit ratio at end of period (2) 83.1 % 84.4 % 88.9 % 83.1 % 88.9 % Capital Ratios and Reserves - Consolidated: Tangible common equity to tangible assets (1) (3) 8.11 % 8.37 % 8.18 % Tangible equity to tangible assets (1) (3) 8.87 9.15 8.99 Tier 1 common equity ratio (3) 11.75 11.99 11.53 Tier 1 risk-based capital ratio (3) 12.81 13.09 12.64 Total risk-based capital ratio (3) 15.96 16.30 16.18 Tier 1 leverage ratio (3) 9.40 9.46 9.29 Consolidated CRE concentration ratio (3)(4) 338 352 401 Allowance for credit losses/ Total loans 0.99 0.98 0.88 Allowance for credit losses/ Non-performing loansheld for investment 111.54 157.09 130.54 (1) See "Non-GAAP Reconciliation" tables for reconciliation of tangible equity, tangible common equity, and tangible assets. (2) Total deposits include mortgage escrow deposits, which fluctuate seasonally. (3) September 30, 2026 ratios are preliminary pending completion and filing of the Company’s regulatory reports. (4) The Consolidated CRE concentration ratio is calculated using the sum of commercial real estate, excluding owner-occupied commercial real estate, multifamily, and acquisition, development, and construction, divided by consolidated capital. The September 30, 2026 ratio is preliminary pending completion and filing of the Company’s regulatory reports.
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Page 9 DIME COMMERCIAL BANCSHARES, INC. AND SUBSIDIARIES UNAUDITED AVERAGE BALANCES AND NET INTEREST INCOME (Dollars in thousands) Three Months Ended September 30, 2026 June 30, 2026 September 30, 2025 Average Average Average Average Yield/ Average Yield/ Average Yield/ Balance Interest Cost Balance Interest Cost Balance Interest Cost Assets: Interest-earningassets: Business loans $ 3,798,622 $ 62,650 6.54 % $ 3,489,614 $ 56,520 6.50 % $ 2,957,434 $ 50,271 6.74 % One-to-four familyresidential andcoop/condoapartment 1,111,740 13,604 4.85 1,064,043 12,588 4.75 1,023,844 12,120 4.70Multifamilyresidential andresidential mixed-use 3,059,148 35,123 4.56 3,195,372 35,930 4.51 3,591,822 41,712 4.61Non-owner-occupiedcommercial realestate 2,724,952 36,719 5.35 2,815,624 37,117 5.29 3,067,598 40,439 5.23Acquisition,development, andconstruction 79,710 1,654 8.23 90,738 1,711 7.56 145,902 3,184 8.66 Other loans 8,981 26 1.15 8,580 26 1.22 7,515 30 1.58 Total loans 10,783,153 149,776 5.51 10,663,971 143,892 5.41 10,794,115 147,756 5.43Securities 1,640,702 15,428 3.73 1,582,300 14,518 3.68 1,340,223 11,338 3.36Other short-terminvestments 1,941,034 18,182 3.72 1,840,193 16,840 3.67 1,503,698 16,449 4.34 Total interest-earning assets 14,364,889 183,386 5.06 % 14,086,464 175,250 4.99 % 13,638,036 175,543 5.11 %Non-interest-earningassets 777,560 775,882 787,966 Total assets $ 15,142,449 $ 14,862,346 $ 14,426,002 Liabilities andStockholders'Equity: Interest-bearingliabilities: Interest-bearingchecking (1) $ 1,082,628 $ 4,453 1.63 % $ 1,040,981 $ 4,058 1.56 % $ 1,069,761 $ 5,306 1.97 %Money market 4,907,654 31,883 2.58 4,796,008 30,049 2.51 4,359,512 34,877 3.17Savings (1) 1,635,196 9,776 2.37 1,684,130 9,826 2.34 1,821,289 13,273 2.89Certificates ofdeposit 1,051,590 8,108 3.06 1,075,789 8,238 3.07 1,116,152 9,494 3.37Total interest-bearing deposits 8,677,068 54,220 2.48 8,596,908 52,171 2.43 8,366,714 62,950 2.99FHLBNY advances 337,717 3,469 4.08 418,517 3,541 3.39 508,000 4,104 3.21Subordinated debt,net 231,229 3,809 6.54 231,102 3,810 6.61 272,429 4,301 6.26Other short-termborrowings 76 1 5.22 — — — 76 1 5.22 Total borrowings 569,022 7,279 5.08 649,619 7,351 4.54 780,505 8,406 4.27Derivative cashcollateral 75,524 668 3.51 62,134 542 3.50 63,856 788 4.90Total interest-bearing liabilities 9,321,614 62,167 2.65 % 9,308,661 60,064 2.59 % 9,211,075 72,144 3.11 %Non-interest-bearingchecking (1) 4,102,780 3,864,575 3,573,448 Other non-interest-bearing liabilities 174,880 166,688 183,627 Total liabilities 13,599,274 13,339,924 12,968,150 Stockholders' equity 1,543,175 1,522,422 1,457,852 Total liabilities andstockholders' equity $ 15,142,449 $ 14,862,346 $ 14,426,002 Net interest income $ 121,219 $ 115,186 $ 103,399 Net interest ratespread 2.41 % 2.40 % 2.00 %Net interest margin 3.35 % 3.28 % 3.01 %Deposits (includingnon-interest-bearingchecking accounts) (1) $ 12,779,848 $ 54,220 1.68 % $ 12,461,483 $ 52,171 1.68 % $ 11,940,162 $ 62,950 2.09 % (1) Includes mortgage escrow deposits.
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Page 10 DIME COMMERCIAL BANCSHARES, INC. AND SUBSIDIARIES UNAUDITED SCHEDULE OF NON-PERFORMING ASSETS (Dollars in thousands) At or For the Three Months Ended September 30, June 30, September 30, Asset Quality Detail 2026 2026 2025 Non-performing loans held for investment Business loans $ 33,171 $ 23,898 $ 21,005One-to-four family residential and coop/condo apartment 4,852 4,465 2,440Multifamily residential and residential mixed-use 47,773 26,893 —Non-owner-occupied commercial real estate 11,109 11,151 47,952 Acquisition, development, and construction 412 412 657 Other loans — — — Non-accrual loans held for investment $ 97,317 $ 66,819 $ 72,054 Non-accrual loans held for sale $ 1,750 $ 1,750 $ — Total non-accrual loans $ 99,067 $ 68,569 $ 72,054 Total non-accrual loans/ Total loans 0.91% 0.64% 0.67% Total non-performing assets ("NPAs") (1) $ 99,517 $ 69,019 $ 72,054 Total loans 90 days delinquent and accruing ("90+ Delinquent") $ — $ — $ — NPAs and 90+ Delinquent $ 99,517 $ 69,019 $ 72,054 NPAs and 90+ Delinquent / Total assets 0.64% 0.46% 0.50% Net loan charge-offs ("NCOs") $ 9,749 $ 9,662 $ 12,586NCOs / Average loans (2) 0.36% 0.36% 0.47% (1) September 30, 2026 and June 30, 2026 balances include one non-performing available-for-sale security in the amount of $450 thousand. (2) Calculated based on annualized NCOs to average loans.
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Page 11 DIME COMMERCIAL BANCSHARES, INC. AND SUBSIDIARIES NON-GAAP RECONCILIATION (Dollars in thousands except per share amounts) The following tables below provide a reconciliation of certain financial measures calculated under generally accepted accounting principles ("GAAP") (as reported) and non-GAAP measures. A non-GAAP financial measure is a numerical measure of historical or future financial performance, financial position or cash flows that excludes or includes amounts that are required to be disclosed in the most directly comparable measure calculated and presented in accordance with GAAP in the United States. The Company’s management believes the presentation of non-GAAP financial measures provides investors with a greater understanding of the Company’s operating results in addition to the results measured in accordance with GAAP. While management uses these non-GAAP measures in its analysis of the Company’s performance, this information should not be viewed as a substitute for financial results determined in accordance with GAAP or considered to be more important than financial results determined in accordance with GAAP. The following non-GAAP financial measures exclude pre-tax income and expenses associated with the fair value change in equity securities and loans held for sale, (gain) loss on sale of securities, loans and other assets, severance, net loss (gain) on extinguishment of debt and loss due to pension settlement. Three Months Ended Nine Months Ended September 30, June 30, September 30, September 30, September 30, 2026 2026 2025 2026 2025 Reconciliation of Reported and Adjusted (non-GAAP)Net Income Available to Common StockholdersReported net income available to common stockholders $ 39,738 $ 32,993 $ 25,849 $ 105,491 $ 73,361Adjustments to net income (1): Fair value change in equity securities and loans held forsale 38 (38) (51) 38 (152)(Gain) loss on sale of securities, loans and other assets (757) 2,000 1,112 1,563 1,040Severance 974 454 6 1,530 218Net loss (gain) on extinguishment of debt — 2 — (972) —Loss due to pension settlement — — — — 7,231Income tax effect of adjustments noted above (1) (79) (748) (328) (668) (2,559) Adjusted net income available to common stockholders(non-GAAP) $ 39,914 $ 34,663 $ 26,588 $ 106,982 $ 79,139 Adjusted Ratios (Based upon Adjusted (non-GAAP)Net Income as calculated above) Adjusted EPS (Diluted) $ 0.91 $ 0.79 $ 0.61 $ 2.43 $ 1.81Adjusted return on average assets 1.10 % 0.98 % 0.79 % 1.00 % 0.80 %Adjusted return on average equity 10.82 9.59 7.80 9.84 7.84Adjusted return on average tangible common equity 12.63 11.16 9.05 11.47 9.14Adjusted non-interest expense to average assets 1.70 1.72 1.72 1.71 1.70Adjusted efficiency ratio 47.8 49.9 53.1 49.6 54.5 (1) Adjustments to net income are taxed at the Company's approximate statutory tax rate. The following table presents a reconciliation of operating expense as a percentage of average assets (as reported) and adjusted operating expense as a percentage of average assets (non-GAAP): Three Months Ended Nine Months Ended September 30, June 30, September 30, September 30, September 30, 2026 2026 2025 2026 2025 Operating expense as a % of average assets - asreported 1.73 % 1.74 % 1.73 % 1.72 % 1.78 %Severance (0.03) (0.01) — (0.01) —Net loss (gain) on extinguishment of debt — — — — —Loss due to pension settlement — — — — (0.07)Amortization of other intangible assets — (0.01) (0.01) — (0.01)Adjusted operating expense as a % of average assets(non-GAAP) 1.70 % 1.72 % 1.72 % 1.71 % 1.70 %
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Page 12 The following table presents a reconciliation of efficiency ratio (non-GAAP) and adjusted efficiency ratio (non-GAAP): Three Months Ended Nine Months Ended September 30, June 30, September 30, September 30, September 30, 2026 2026 2025 2026 2025 Efficiency ratio - as reported (non-GAAP) (1) 48.4 % 51.2 % 53.8 % 50.1 % 57.1 %Non-interest expense - as reported $ 65,503 $ 64,701 $ 62,224 $ 192,960 $ 188,034Severance (974) (454) (6) (1,530) (218)Net (loss) gain on extinguishment of debt — (2) — 972 —Loss due to pension settlement — — — — (7,231) Amortization of other intangible assets (195) (195) (236) (599) (723) Adjusted non-interest expense (non-GAAP) $ 64,334 $ 64,050 $ 61,982 $ 191,803 $ 179,862 Net interest income - as reported $ 121,219 $ 115,186 $ 103,399 $ 348,656 $ 295,709Non-interest income - as reported $ 14,128 $ 11,266 $ 12,211 $ 36,740 $ 33,439Fair value change in equity securities and loans heldfor sale 38 (38) (51) 38 (152)(Gain) loss on sale of securities, loans and other assets (757) 2,000 1,112 1,563 1,040 Adjusted non-interest income (non-GAAP) $ 13,409 $ 13,228 $ 13,272 $ 38,341 $ 34,327 Adjusted total revenues for adjusted efficiency ratio(non-GAAP) $ 134,628 $ 128,414 $ 116,671 $ 386,997 $ 330,036 Adjusted efficiency ratio (non-GAAP) (2) 47.8 % 49.9 % 53.1 % 49.6 % 54.5 % (1) The reported efficiency ratio is a non-GAAP measure calculated by dividing GAAP non-interest expense by the sum of GAAP net interest income and GAAP non-interest income. (2) The adjusted efficiency ratio is a non-GAAP measure calculated by dividing adjusted non-interest expense by the sum of GAAP net interest income and adjusted non-interest income. The following table presents a reconciliation of pre-tax pre-provision net revenue (non-GAAP) and adjusted pre-tax pre- provision net revenue (non-GAAP): Three Months Ended Nine Months Ended September 30, June 30, September 30, September 30, September 30, 2026 2026 2025 2026 2025 Financial Data:Net interest income $ 121,219 $ 115,186 $ 103,399 $ 348,656 $ 295,709Non-interest income 14,128 11,266 12,211 36,740 33,439 Total revenue 135,347 126,452 115,610 385,396 329,148Non-interest expense 65,503 64,701 62,224 192,960 188,034 Pre-tax pre-provision net revenue (non-GAAP) (1) $ 69,844 $ 61,751 $ 53,386 $ 192,436 $ 141,114 Adjusted pre-tax pre-provision net revenue (non-GAAP) (2) $ 70,294 $ 64,364 $ 54,689 $ 195,194 $ 150,174 (1) The reported pre-tax pre-provision net revenue is a non-GAAP measure calculated by adding GAAP net interest income and GAAP non-interest income less GAAP non-interest expense. (2) The adjusted pre-tax pre-provision net revenue is a non-GAAP measure calculated by adding GAAP net interest income and the adjusted non-interest income less the adjusted non-interest expense as shown in the reconciliation of efficiency ratio table above.
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Page 13 The following table presents the tangible common equity to tangible assets, tangible equity to tangible assets, and tangible common book value per share calculations (non-GAAP): September 30, June 30, September 30, 2026 2026 2025 Reconciliation of Tangible Assets: Total assets $ 15,546,869 $ 15,042,953 $ 14,538,943 Goodwill (155,797) (155,797) (155,797) Other intangible assets (2,339) (2,534) (3,173) Tangible assets (non-GAAP) $ 15,388,733 $ 14,884,622 $ 14,379,973 Reconciliation of Tangible Common Equity - Consolidated:Total stockholders' equity $ 1,522,758 $ 1,520,456 $ 1,452,342 Goodwill (155,797) (155,797) (155,797) Other intangible assets (2,339) (2,534) (3,173) Tangible equity (non-GAAP) 1,364,622 1,362,125 1,293,372 Preferred stock, net (116,569) (116,569) (116,569) Tangible common equity (non-GAAP) $ 1,248,053 $ 1,245,556 $ 1,176,803 Common shares outstanding 43,811 44,158 43,889 Tangible common equity to tangible assets (non-GAAP) 8.11 % 8.37 % 8.18 % Tangible equity to tangible assets (non-GAAP) 8.87 9.15 8.99 Book value per common share $ 32.10 $ 31.79 $ 30.44Tangible common book value per share (non-GAAP) 28.49 28.21 26.81