The Dime Bank Announces First Quarter 2026 Earnings Dimeco, Inc. (OTCQX: DIMC), the holding company for The Dime Bank, reported unaudited results for the first quarter of 2026. For the three months ending March 31, 2026, Dimeco recorded net income of $4.8 million, up 48.7% or $1.6 million from the same period last year. Net income at this level resulted in a return on average assets of 1.68% and a return on average equity of 14.96%, an increase of 42.4% and 25.9%, respectively, over the first quarter of 2025. On March 31, 2026, total assets were $1.1 billion, an increase of $40.2 million over March 31, 2025. During this same period, total loans increased by $61.6 million to $845.6 million, a growth rate of 7.9%. Deposits were $981.3 million on March 31, 2026, $47.3 million or 5.1% greater than the previous year. Maintaining a strong capital position, stockholders’ equity was $127.8 million on March 31, 2026, growth of $16.9 million over balances a year earlier. Dividends reflected a 7.1% increase, amounting to $.45 per share for the period ended March 31, 2026. President and Chief Executive Officer Peter Bochnovich stated, “I am pleased to present the results of Dimeco, Inc. for the first quarter of 2026. The year began on a strong note, with continued growth in both loans and deposits strengthening our overall financial performance. As the year progresses, I remain optimistic about the opportunities ahead, as management continues to pursue disciplined strategies to strengthen the balance sheet and enhance the Company’s solid performance. As always, we thank our shareholders and customers for their continued support and commitment.”
The Dime Bank (Dimeco, Inc.) Announces 2024 Earnings Dimeco, Inc. (OTCQX: DIMC), the parent holding company of The Dime Bank, announces unaudited financial results for the quarter and fiscal year ending December 31, 2024. Total assets increased $90 million or 9.1% from the end of 2023 to $1.080 billion as of December 31, 2024. The loan portfolio ended the year at $775 million, an increase of $52.9 million or 7.3% from the year prior. Deposits also increased year-over-year to $911 million, a gain of $84.5 million or 10.2%. Dimeco’s 2024 net income of $12.9 million was $2.1 million or 19.5% greater than 2023, resulting in earnings per share of $5.12. Net income at this level produced a return on average assets of 1.25% and a return on average equity of 12.61%, an increase of 12.6% and 6.5%, respectively. Stockholders’ Equity also increased 8.5% to $107 million. The 2024 dividend payout ratio was 31.64% providing a yield of 4.08%, with year-to-date dividends totaling $1.62 per share. President and Chief Executive Officer Peter Bochnovich stated, “I am excited to share our financial achievements for 2024. It was a year of noteworthy progress for Dimeco, Inc., marked by numerous positive outcomes. We sustained our robust growth trajectory through sound and prudent banking practices. Looking ahead, we are optimistic about the future and confident that the momentum we built in 2024 will carry into 2025. Our commitment to our communities and shareholders is paramount. We value your ongoing support and unwavering dedication.”
Wayne Bank Announces 2024 First Quarter Earnings James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp and its subsidiary, Wayne Bank, announced net income of $4,433,000 for the three months ended March 31, 2024, a decrease of $1,349,000, from net income of $5,782,000 for the three months ended March 31, 2023. The decrease was due primarily to a $1,383,000 decrease in net interest income and a $1,296,000 increase in total other expenses. Earnings per share on a fully diluted basis were $0.55 for the three-month period ended March 31, 2024, compared to $0.71 in the three-month period ended March 31, 2023. The annualized return on average assets was 0.80% in the first quarter of 2024 and the annualized return on average equity was 9.79%, compared to 1.13% and 13.61%, respectively, in the first quarter of 2023.
