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Dime Commercial Bancshares Announces Acquisition of Empire State Bank

Nasdaq +1 ·

NOC Northrop Grumman Corp
$534.00 +4.57%
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  1. 1Dime Commercial Bancshares announced a definitive agreement to acquire Empire State Bank.
  2. 2Management reduced Dime Commercial Bancshares' commercial real estate (CRE) concentration ratio of 338%.
  3. 3The acquisition includes Empire State Bank's $600 million in commercial bank assets located in Staten Island.

So what's the key point?

Dime Commercial Bancshares has agreed to buy Empire State Bank. This acquisition brings in $600 million in assets and lowers the company's concentration in commercial real estate.

Source Nasdaq +1 · View original ↗

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