Dime to Acquire ES Bancshares for ~$58M in Cash and Stock
DCOM sits 53% above its 52-week low of $25.625.
Summary
Dime agreed to acquire ES Bancshares (Empire State Bank) for about $58 million in cash and stock, adding $491 million of deposits and a Staten Island/Brooklyn branch network. The deal is guided to ~3.5% EPS accretion with only ~2% tangible book dilution and is expected to close in Q1 2027.
Key Events · M&A and Partnerships · DCOM
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Merger Agreement Signed
Dime will acquire ES Bancshares (Empire State Bank) for $30.0 million cash plus 720,000 Dime shares, valued at approximately $58 million, or $8.39 per ES share, based on Dime's 10-day VWAP of $38.55 as of October 19, 2026.
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Deposit Franchise and Branch Build-Out
Empire adds about $596 million of assets, $518 million of net loans and $491 million of deposits across three Staten Island and two Brooklyn branches, giving Dime ground-level presence in all five NYC boroughs.
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Accretion and Dilution Guidance
Management expects roughly 3.5% EPS accretion, about 2% tangible book value dilution with an earn-back under three years, and a purchase price of about 1.09x tangible book value. The 720,000 shares issued equal about 1.6% of Dime's 43.7 million shares outstanding.
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Approvals and Closing Timeline
Closing is targeted for Q1 2027, subject to ES Bancshares shareholder approval, Federal Reserve and NYDFS approvals, and Form S-4 effectiveness. ES Bancshares directors and officers holding roughly 27% of shares have signed voting agreements in favor.
Analysis · DCOM · Finance
Dime is buying Staten Island-based Empire State Bank (ES Bancshares) for roughly $58 million — $30 million cash plus 720,000 Dime shares — at about 1.09x tangible book value. The deal adds $596 million of assets, $518 million of net loans and $491 million of deposits, and fills out Dime's branch footprint across all five New York City boroughs. Management guides to about 3.5% EPS accretion, roughly 2% tangible book value dilution with a less than three-year earn-back, so the near-term hit to book value is small relative to the deposit franchise gained. The 720,000 shares issued equal about 1.6% of Dime's 43.7 million shares outstanding — modest dilution. Closing is targeted for Q1 2027 and needs ES Bancshares shareholder approval plus Federal Reserve and NYDFS sign-off; ES Bancshares directors and officers holding roughly 27% of shares have already agreed to vote in favor.
How filings like this one have moved
In the 30 days to Oct 20, 2026, 37.4% of the 952 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.87%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, DCOM was trading at $39.11 on NYSE in the Finance sector, with a market capitalization of approximately $1.7B. The 52-week trading range was $25.63 to $41.97. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.