Dimeco, Inc. (OTCQX: DIMC), the holding company for The Dime Bank, reported unaudited results for the first quarter of 2025.

On March 31, 2025, total assets were $1.1 billion, an increase of $102.3 million over March 31, 2024. During this same period, total loans increased by $39.7 million to $784 million, a growth rate of 5.3%. Deposits were $934 million on March 31, 2025, $88.7 million or 10.5% greater than the previous year. 

For the three months ending March 31, 2025, Dimeco recorded net income of $3.2 million, up 37.1% or $876 thousand from the same period last year. Net income at this level resulted in a return on average assets of 1.18% and a return on average equity of 11.88%.

Maintaining a strong capital position, stockholders’ equity was $110.9 million on March 31, 2025, representing growth of 12.0% over balances a year earlier. Dividends reflected a solid 5% increase, amounting to $.42 per share for the period ended March 31, 2025, producing a dividend yield of 4.67%. President and Chief Executive Officer Peter Bochnovich stated, “I am happy to present the results of Dimeco, Inc. for the first quarter of 2025. Dimeco continues to grow prudently and remains vigilant about cost containment and looking for opportunities to generate additional revenue. We look forward to the remainder of the year and know that while there are many uncertainties, especially with the economy, there will also be opportunities. As always, we thank our shareholders and customers for their continued support and commitment.”  

The Dime Bank is pleased to announce the promotion of Gary Schemel II to the position of Assistant Vice President. In his role, Mr. Schemel is responsible for the oversight of the Bank Secrecy Act (BSA) / Anti-Money Laundering (AML) and the fraud department. He is instrumental in designing, implementing, and overseeing the BSA/AML compliance program, ensuring the Bank’s adherence to relevant laws and regulations, and investigating potential suspicious activity.

Schemel joined The Dime Bank in September 2015, as a fraud specialist. In December 2021, he was promoted to BSA-fraud manager, and most recently, in December 2024, he was elevated to BSA/AML fraud officer. This latest promotion to assistant vice president recognizes his significant contributions and expertise in this critical area.

“We are delighted to recognize Gary’s hard work and commitment with this well-deserved promotion,” said Peter Bochnovich, The Dime Bank president and chief executive officer. “Gary has consistently demonstrated a strong understanding of BSA/AML regulations and has played a vital role in ensuring the integrity and security of The Dime Bank. His dedication and expertise make him an invaluable asset to our team. Please join me in congratulating Gary and wishing him continued success.”

Schemel brings eleven years of banking experience to his new role, including his tenure at The Dime Bank. He holds a Bachelor of Science in Accounting from King’s College. He has furthered his professional development by completing the PA Bankers Association’s Banking School in 2018 and is currently enrolled in the PBA Advanced School of Banking. Additionally, Schemel earned his BSA/AML Professional Certification from the Independent Community Bankers of America (ICBA) in 2023. Outside of his professional achievements, Schemel is currently taking an improv class.

“At The Dime Bank, teamwork really makes the dream work,” said Gary Schemel II. “I am honored and grateful for this opportunity and look forward to continuing to contribute to the success of The Dime Bank in this elevated capacity.”

Maurice (Mick) Dennis to now serve as Director of Lending at The Dime Bank, announced President and Chief Executive Officer Peter Bochnovich. He will supervise the bank’s commercial, mortgage, and consumer lenders as well as special assets. Additionally, Dennis will continue to assist area businesses attain the financing they need to grow.

Dennis brings to this role over 16 years of distinguished experience in the financial sector, a career marked by consistent growth and exceptional performance. Dennis has been helping The Dime Bank business customers since 2019 as vice president commercial loan officer, where he played a crucial role in actively seeking and developing new commercial loan relationships while  maintaining strong relationships with existing customers. Prior to The Dime Bank, Dennis honed his expertise through a series of progressive roles. He began his career developing a rigorous foundation in commercial loan underwriting and evaluation. He then excelled as a commercial documentation officer, ensuring the accuracy and efficiency of critical loan processes. His proven track record of success led to further advancement, where he effectively expanded business relationships in northeastern PA and the Poconos.

Dennis’ banking career began with a strong academic background, including degrees from two well-respected universities. He graduated with a Master of Business Administration in Finance from the University of Scranton and a Bachelor of Science in Finance from Bloomsburg University of Pennsylvania. Over the course of his career, he has supplemented his education with professional course certificates attained through the PA Bankers Association. He is also a graduate of Leadership Wayne.

President and Chief Executive Officer Pete Bochnovich stated, “Please join me in congratulating Mick on his promotion to Director of Lending. For the past five years, Mick has demonstrated exceptional dedication, expertise, and leadership within our lending department. His deep understanding of the financial landscape, coupled with his commitment to fostering strong customer relationships and community involvement, has been instrumental in his success. Mick’s ability to navigate complex lending scenarios, his innovative approach to problem-solving, and his unwavering focus on responsible lending practices have exceeded expectations. He has proven himself to be an asset, and I am confident that in this new role he will continue to drive growth and excellence in our lending operations.”

Dennis is the proud founder of Wayne Highlands Little League and continues to serve on the board of directors as treasurer.  He is also a board member of Northeastern Pennsylvania Alliance Business Financial Corporation.