Dime Community Bancshares Turns To Q4 Loss, But Net Interest Income Rises

(RTTNews) - Dime Community Bancshares, Inc. (DCOM) Thursday reported net loss of $22.23 million, or $0.54 per share for the fourth quarter compared with net income of $14.49 million, or $0.37 per share in the same quarter a year ago, primarily impacted by loss on sale of securities of $42.81 million.

Excluding one-time items, the company posted earnings of $17.4 million or $0.42 per share. On average, 4 analysts expected earnings of $0.45 per share for the quarter.

Net interest income increased to $91.09 million from $74.1 million last year.

Non-interest income was a loss of $33.9 million compared with income of $8.9 million a year ago.

Provision for credit losses increased to $13.7 million from $3.7 million last year.