DIME COMMUNITY BANCSHARES INC DCOM Income Statement

Dime community bancshares inc (DCOM)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Interest income:
Loans secured by real estate
202,110	194,842	204,487	191,856	171,347	169,208	171,594	189,149	200,034	202,591	193,689
C&I loans
15,980	9,741	3,072	41	0	-	-	-	-	-	-
Other loans
70	74	75	74	93	105	101	104	97	123	143
Mortgage-backed securities ("MBS")
12,266	10,794	542	20	186	914	1,413	3,025	5,043	7,820	11,548
Investment securities
2,252	363	577	880	875	560	503	1,263	1,401	1,277	874
Other short-term investments
5,590	5,896	3,343	2,756	2,290	2,165	1,845	2,413	2,641	2,983	2,914
Total interest income
238,268	221,710	212,096	195,627	174,791	172,952	175,456	195,954	209,216	214,794	209,168
Interest expense:
Deposits and escrow
62,079	50,389	38,391	32,374	23,005	19,591	19,927	21,779	26,131	29,991	42,792
Borrowed funds
28,768	24,995	20,975	19,767	23,222	28,825	27,042	64,333	43,583	49,422	54,893
Total interest expense
90,847	75,384	59,366	52,141	46,227	48,416	46,969	86,112	69,714	79,413	97,685
Net interest income
147,421	146,326	152,730	143,486	128,564	124,536	128,487	109,842	139,502	135,381	111,483
Provision for loan losses
17,340	2,244	520	2,118	-1,330	-1,872	369	3,921	6,846	11,209	13,152
Net interest income after provision for loan losses
130,081	144,082	152,210	141,368	129,894	126,408	128,118	105,921	132,656	124,172	98,331
Non-interest income:
Revenue from contract with customer
5,805	4,642	3,828	3,429	3,323	3,191	3,459	3,445	3,662	3,913	4,209
Total other than temporary impairment (OTTI) losses
-	-	-	-	-	-	-	187	752	2,757	-10,919
Less: Non-credit portion of OTTI recorded in other comprehensive income (before taxes)
-	-	-	-	-	-	-	-6	-25	-282	3,004
Net OTTI recognized in earnings
-	-	-	-	-	-	-	181	727	2,475	7,915
Income derived from origination and sale of loans to third parties in which the Company retains servicing of the loan. Amount includes the following: 1) gain(loss) on sale of the loans; 2) periodic income earned from servicing the loan; and 3) any gains(losses) derived from the valuation of the servicing asset.
286	367	201	96	183	1,225	473	1,768	569	1,069	-1,774
Refers to the amount of gain (loss) on sale on securities and other assets.
562	1,068	2,740	123	1,273	952	375	1,135	2	926	-
Gain on sale of loans
1,540	302	1,475	0	0	-	-	-	-	-	-
Gain on sale of real estate
0	0	10,412	68,183	0	649	-21	13,726	0	-10	339
Net gain on the re-acquisition of trust preferred securities payable
-	-	-	-	-	-	-	-	-	-	505
Income from BOLI
2,830	2,882	2,217	2,734	2,405	1,743	1,672	1,689	1,758	1,941	2,022
Loan level derivative income
910	0	0	-	-	-	-	-	-	-	-
Other
235	262	641	1,369	1,432	1,278	1,505	2,267	2,665	2,691	1,869
Total non-interest income
12,168	9,523	21,514	75,934	8,616	9,038	7,463	23,849	7,929	8,055	-745
Non-interest expense:
Salaries and employee benefits
50,254	45,066	37,036	34,854	31,350	32,462	34,336	33,805	32,854	31,329	28,167
This item represents the amount of Employee Stock Ownership Plan (ESOP) and Restricted Stock Award (RSA) benefit expense.
1,843	1,524	1,687	14,651	3,640	3,817	3,957	3,842	3,746	3,895	3,647
Occupancy and equipment
16,175	15,250	14,201	12,103	10,514	10,177	10,451	10,052	10,129	9,372	7,878
Data processing costs
7,816	7,009	8,280	5,194	4,017	3,595	3,565	3,026	2,982	3,048	2,985
Marketing
1,992	3,198	5,774	4,121	2,685	1,922	1,109	1,554	1,710	2,271	1,441
Federal deposit insurance premiums
609	1,969	2,966	2,515	2,304	2,151	1,951	2,057	2,618	4,096	5,524
Loss from extinguishment of debt
-3,780	0	-1,272	0	0	-	-	-	-	-	-
Provision for losses on OREO
-	-	-	-	-	-	180	0	0	422	196
Other
12,918	12,874	13,770	10,393	7,983	6,952	7,143	8,236	7,649	7,544	7,472
Total non-interest expense
95,387	86,890	84,986	83,831	62,493	61,076	62,692	62,572	61,688	61,977	57,310
Income before income taxes
46,862	66,715	88,738	133,471	76,017	74,370	72,889	67,198	78,897	70,250	40,276
Income tax expense
10,676	15,427	36,856	60,957	31,245	30,124	29,341	26,890	31,588	28,861	14,087
Net Income
36,186	51,288	51,882	72,514	44,772	44,246	43,548	40,308	47,309	41,389	26,189
EARNINGS PER COMMON SHARE ("EPS") [Abstract]
Basic (in dollars per share)
1.01	1.38	1.38	1.97	1.24	1.23	1.24	1.18	1.40	1.24	0.79
Diluted (in dollars per share)
1.01	1.38	1.38	1.97	1.23	1.23	1.23	1.17	1.40	1.24	0.79
STATEMENTS OF COMPREHENSIVE INCOME
Net income
36,186	51,288	51,882	72,514	44,772	-	43,548	40,308	47,309	41,389	26,189
Amortization and reversal of net unrealized loss on securities transferred from available-for-sale to held-to-maturity, net of tax of $(54), $(29) and $(122) during the years ended December 31, 2015, 2014 and 2013, respectively
-	-	-	-	-	-	149	111	245	101	1,975
Non-credit component of OTTI charge recognized during the period, net of tax benefits of $3 during the years ended December 31, 2012
-	-	-	-	-	-	-	3	14	156	-1,648
Reduction in (adjustment to) non-credit component of other than temprary impairmentsof securities, net of tax (expense) benefit of $4, $(16) and $(16) during the years ended December 31, 2015, 2014 and 2013, respectively
-	-	-	-	-	-	16	165	714	1,374	476
Reclassification adjustment for securities sold during the period, net of tax benefit of $624, $450 and $50 during the years ended December 31, 2015, 2014 and 2013, respectively (reclassified to net gain on securities)
-	-	-	-	-	-	60	561	18	-467	-236
Net unrealized securities gain (loss) arising during the period, net of deferred tax (expense) benefit of $78, $29 and $(162) during the years ended December 31, 2015, 2014 and 2013, respectively
-	-	-	-	-	-	201	-1,339	-720	-575	5,477
Change in pension and other postretirement obligations, net of deferred tax (expense) benefit of $(451), $2,685 and $(3,765) during the years ended December 31, 2015, 2014 and 2013, respectively
-	-	-	-	-	-	-4,575	-1,696	3,564	1,547	1,240
Total other comprehensive income (loss), net of tax
-	-	-	-	-	-	4,881	69	-3,357	-	-
Comprehensive Income
-	-	-	-	-	-	48,429	40,377	43,952	40,119	33,473