Dime Community Bancshares, Inc. · NYSE:DCOM
Dime Community Bancshares — Investor Presentation (November 2011)
29 slides from Dime Community Bancshares's investor presentation, Nov 3, 2011
Slide 1: Dime Community Bancshares, Inc.
E Community Mim Bancshares, Inc. Dime Community ares, Inc. Nasdaq: DCOM
Slide 2: Forward Looking Statement
Forward Looking Statement Certain statements contained inthis presentation that are net statements of historical fact contitute fonvardooking statement within the meaning of the Private Seourties Litigation Reform Act of 1096 (he "Aet), nobuthstanding that such statements are not=peotically Wentfed
Slide 3: Who We Are
Who We Are + Dime Savings Bank founded 1864 as a mutual savings bank in Williamsburg, Brooklyn * Converted to Public Ownership in June 1996 * Community retail bank model with an emphasis on multifamily residential lending * Help to grow to current size through 2 thrift acquisitions: “> Pioneer Savin
Slide 4: Experienced Operators
Experienced Operators The Management Team includes officers with many years of experience in commercial real estate and multifamily lending through numerous credit cycles in the New York market, including: = Vincent Palagiano, Chairman/CEO, 41 years with Dime « Michael Devine, PresidentiCOO, 40 year
Slide 5: Insider Ownership
Insider Ownership* The Executive Officers and Directors, and employees, have a significant ownership stake in the performance of the Company. Vincent F. Palagiano - Chairman of the Board & CEO 993,036" 29% Michael P. Devine - President and Chief Operating Officer 680,940 2.0% Kenneth J. Mahon - Firs
Slide 6: Prudent Branch Expansion
Prudent Branch Expansion Strategically located De novo branches deepen he Dime footprint. Opened in September 2010 Opened inJune2010 |__ 2° Bay Ridge Branch opened in March 2011 26 Branch locations currently open. @ ) if \ { . » >) Lepr | a ie “ora 7 ¢ oa < pe a oF Average size of branches that have
Slide 7: Balance Sheet Review
Balance Sheet Review As of or for the Three Months Ended September 30, Total Assets $4,039 865 $3,996,768 $43,097 1.1% increase Total Loans 3435195 3.427 437 $7,758 0.2% increase Total Deposits 2.384617 2,380,866 $3,951 0.2% increase FHLBNY Advances 884,775 904525 6 19,750) 2.2% decrease Consolidate
Slide 8: Balance Sheet Composition
Balance Sheet Composition Loans comprise 25% of assets; 144% Loan fo Deposit Ratio Assets vabilti , Liabilities and Equity ca otter . nvona creamer ee aEy aay | Oe bad Ec} MBS 6% cc ‘Cashishorttenn investments 3% WvestinentsMBS 6% Loans 85% BAN Other 6% Dime Community Bancshares, In Note: as of Sept
Slide 9: Financial Performance Review
a 8 Ww nN > Financial Performance Review Three Months Ended September 30, 2011 Reported Earnings Per Share $0.33 Net Interest Margin 3.58% Reported Return on Average Tangible Equity 15.9% Reported Return on Average Assets 1.11% Efficiency ratio 41.0% Dime Community Bancshares, Inc.
Slide 10: Historical Net Interest Margin
Historical Net Interest Margin ry —*— Yield on Interest Earning Assets —@—Cost of Funds —a-—Net Interest Margin 6.00% pha gO a, 5.00% 4.00% 3.00% 2.00% 1.00% Dime Community Bancshares, Inc. 10
Slide 11: New York City
New York City Types of Housing* Renter. miltchall: ‘to 4F amily Occupied = 24% 64% Co-op B% Condo, 2% * Housing stock equals 3,328,648 units. Dime Community Bancshares, Inc. Source: 2008 New York City Housing and Vacancy Simvey and cana date
Slide 12: Loan Portfolio Composition
Loan Portfolio Composition At September 30, 2011 Construction Traditional Less in| 1to4 Family 3% = Includes underlying cooperative apartment buildings. Dime Community Bancshares, Inc. 12
Slide 13: New York City Housing Overview
New York City Housing Overview Housing Units by Borough (Quiner Occupied ‘14 Family! — Co-0px Condos Manhattan Bronx Brooklyn Queens Staten Island US. + Note: Alga includes living quartersin partially commercial buildings (e.g. doctor's affioe and ham in ane building) Source: Federal Reserve Bank of
Slide 14: New York City Housing Overview
New York City Housing Overview ONew York City has been an over-performer OHow is NYC’s housing market unique? = Majority of units are in multi-family structures = More renters than owners = Fewer condos than co-ops O Recent developments = NYC housing market had bigger boom, milder decline than U.S.
Slide 15: NYC Housing Outlook and Risks
NYC Housing Outlook and Risks O Factors supporting home prices: = NY City had milder recession than US; recovery underway = Relatively few owner-occupied homes “underwater” = Large number of co-ops <> less leverage and less speculation Q Factors undercutting home prices: = Little or no job growth th
Slide 16: Average Prices and Rents
Average Prices and Rents Manhattan 1-Bedroom Apartments $200,000 7 Fett 6.150 ~ Despite pullback, prices are stil Average Price $800,000] 3%4times as high as in 1898 of Co-ops & Condos $6000 + Rents have roughly doubled (im sca s700.0004 } over this period $6250 + Since 2000, renting has become a mu
Slide 17: Real Estate Loan Portfolio Composition
Real Estate Loan Portfolio Composition Traditiond 110 4 Fanily (COOP Unt [primary Residence 402,340,000] 50% Ni 3.0% Multifamily Residential 548,000] 65% rr as Multifanily? Mixed Use Portotio Mul. amily (Commercial Renis <60%6 es6.c72.000] 66% 19 25.0% Mixed Use (Commercial Rents > 60% ‘5627.00 56%
Slide 18: Loan Originations
Loan Originations Total Orginations —#=Average Loan Origination Rate Averaye S-Year Treasury Rate 8 in milions ‘51,2000 7.00% $1,006.7 $1 0000 6.00% 5.00% 38000 4.00% 3600.0 3.00% $4000 2.0% $2000 ne 00 0.00% 2007 2008 2008 2010 2011YTD. Dime Community Bancshares, Inc. 18
Slide 19: Debt Service & Loan-to-Value Ratios
Debt Service & Loan-to-Value Ratios on New Loans $inmillions Weighted average LTV consistently below 60% 2010
Slide 20: Repricing Loans
Repricing Loans ores 11% of the Loan Portfolio reprices within the next 15 months $3,500 $3,000 $2,500 $2,000 $1,500 mm Annual Repricings — Cumulative Repricings 1,000 | § a $as25 | $520.9 $626.1 $500 é a sie4s $1935 $263.1 $0 Bem , Bes, El | 2011 2012 2013 20142015 2016 2017-2018 Beyond Dime Commun
Slide 21: Low Level of Non-Performing Assets
Low Level of Non-Performing Assets Dime is an industry leader in joan quality, with a iow level of non-performing assets as a % of assets mDCOM S. Thrifts $1 to $5 Billion in Assets 8. Thrifts Sep-2011 Dime Community Bancshares, Inc. ‘Source: SNL Thi Investor Database — Qetober 2011 21
Slide 22: Funding Liabilities
Funding Liabilities September 30, 2010 September 30, 2011 Inst Prefered Inst En Prefered ae Deposits mBorrowings Deposits mBorrowings aTiustPreferreds aTuustPreferreds Dime Community Bancshares, Inc. 22
Slide 23: Maturing Borrowings
Maturing Borrowings ‘Seplember 30, 2017 - Tolal Horrowingy — 37. jon’. Weighed fversge Durslion = 3.43 yours, June 30, 2011 - Total Borrowings = $1.13 billion’. Weighted Average Duration = 3.33 years Sinthousands $900,900 [4 une 20,2011 [Bl # september 0, $800,000 Zot $700,000 $600,000 $500,000 $400
Slide 24: CD Maturities - Upcoming Quarters
CD Maturities -Upcoming 4 Qtrs $ in millions $250.0 SEPTEMBER 30, 2011 | Rates on new one-year | $200.0 CDs currently = |_approximate 0.75% _| $100.0 $50.0 $- Qi Q2 a Q4 Weighted Average Duration of all CD’s = 16.1 Months at September 30, 2011 Dime Community Bancshares, Inc. 24
Slide 25: Focus on Profitable Deposits
Focus on Profitable Deposits September 30, 2010 Total Deposits = $2.38 billion Prime Dime _ other ‘4%. Checking 5 ‘Weighted average maturity = 15.8 months September 30, 2011 Total Deposits = $2.38 billion Prime Dime _ other 3% Checking Weighted average maturity = 16.1 months 10.9% Growth in Checking
Slide 26: Dime's Deposit Share
DIME’S DEPOSIT SHARE 9 9 $930,790 2.70% $34,475,800 13 8 $828,698 2.00% $41,386,700 15 7 $611,552 112% $64,496,200 18 1 $68,775 067% $10,219,100 Data as of June 30, 2010 Source: FDIC Dime Community Bancshares, Inc. 26
Slide 27: Dime Ranked 8th Among Banks
Dime Ranked 8th BankingsS—__~ Among U.S. Banks Exceeding $3 Billion Public Banks Source: ABA Banking Joureal — April 2011 ‘gee 3B Psy. s 1 NA Bankohe Gas, nite Rac, AR ami Rag ssn 059 Ban of Hawair, Hoo fameyey as S665 ae ‘Westie Baca Sa ate CA “agpaiad sean 95 oi 3 eb Bava, in, uti ears pas si Fist
Slide 28: Dime Ranked 5th Nationally
Dime Ranked 5** Nationally The best of the blagest (part 1) The 100 fink Company eke) State seo DATA DISPATCH: March 31,2011 (1-25) ie HG moa roarce chk ‘sa, T Hiseps rand Co IGT Chat 2 fot el In (OOFD an 3 New YrkConmanty Bancorp ne 7) 3045 Source: SNL Securities — hsly 263% 5 dine emt tnchare ne O
Slide 29: Thank you.
Thank you. Main Office Havemeyer Street, Williamsburgh, Brooklyn 29
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