The Dime Bank Celerbates 120 Years The Dime Bank is thrilled to celebrate 120 incredible years of service, growth, and connection with our valued customers and communities. Since our founding, we have been unwavering in our commitment to building strong financial foundations and fostering meaningful relationships that stand the test of time. This milestone is not just a reflection of our longevity but a testament to the trust and support of our loyal customers, who have been with us every step of the way. As we commemorate this significant anniversary, we are preparing for a year filled with celebrations that honor our rich history, our many achievements, and, most importantly, the people who made it all possible—you! Our celebrations will include a variety of special events, community initiatives, and exciting surprises designed to engage and delight our customers and partners. Each event will be an opportunity to reflect on our journey together, recognize the milestones we have achieved, and look ahead to the future we are building. We can’t wait to share this exciting journey with you throughout the year. Whether through community service projects, educational seminars, or festive gatherings, we are dedicated to celebrating the spirit of connection that has defined our organization for over a century. Thank you for being an integral part of our story. Here’s to 120 years of unwavering dedication and a bright, exciting future ahead! Stay tuned for announcements as we unveil the festivities, and let’s continue to create lasting memories together. Your support has been vital to our success, and we look forward to sharing many more milestones with you in the years to come!
The Dime Bank Announces First Quarter Earnings for 2025 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 Promotes Gary Schemel II to Assistant VP 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.”
The Dime Bank and PA Bankers Warn of Uptick in Phishing Scams The Pennsylvania Bankers Association (PA Bankers) announced today that banks across the commonwealth are seeing an uptick in phishing scams targeting their customers via phone, email and text messages. These phishing scams are communications designed to trick consumers into providing confidential information (like account numbers, passwords or PINS) either online or over the phone to someone impersonating a bank employee. Victims of phishing scams can lose hundreds, even thousands of dollars. The Dime Bank President and Chief Executive Officer Peter Bochnovich stated, “Phishing attacks can appear very convincing, so it’s crucial to remain vigilant and question any suspicious requests for your information. The Dime Bank will never ask you to click on unfamiliar links or provide sensitive details. Your online security depends on your awareness. The Dime Bank is continually educating our communities and implementing safeguards to protect our customer account information from ever-changing scams.” The association and The Dime Bank urge consumers to remember the following: • Banks will never ask for your personal information via phone, text or email. You may be asked to verify confidential information if you call your bank, but banks will never call you to ask for this information. If you receive an incoming call from someone claiming to be your bank, the safest thing you can do is hang up and call your bank’s publicly listed customer service number. • If you receive a suspicious email or text, do not download any attachments, click on any links or reply to the sender. Report the email or text by forwarding emails to the Anti-Phishing Working Group at reportphishing@apwg.org and text messages to SPAM (7726). Finally, report the phishing attack to the FTC at ftc.gov/complaint. • If you receive a suspicious phone call, hang up or end the call and do not respond to the caller’s requests. • If you feel that you have been the victim of a scam and may have provided personal or important financial information, contact The Dime Bank and your other financial institutions immediately via a publicly listed customer service number. Often, this is found on the back of your bank card. Be sure to include any relevant details, such as whether the suspicious caller attempted to impersonate your bank and whether any personal or financial information was provided to the suspicious caller. “PA Bankers and its member banks take consumers’ financial well-being seriously,” said Duncan Campbell, PA Bankers’ president and CEO. “Banks are constantly working hard to protect their customers’ money through a variety of safeguards, but one of the most effective ways to prevent consumers from falling victim to phishing scams is through continued education.” In October, the American Bankers Association (ABA) launched its annual #BanksNeverAskThat campaign, which seeks to turn the table on fraudsters by empowering consumers to spot bogus bank phishing scams by using attention-grabbing humor and other engaging content. Consumers are encouraged to visit banksneveraskthat.com for an interactive game, a quiz and tips to help them learn more about these scams. “The easiest way to spot a phishing scam is to remember that ‘Banks Never Ask That.’ When something looks or sounds suspicious, it likely is,” said Campbell.
The Dime Bank Promotes Maurice Dennis to Director of Lending 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.
The Dime Bank Donates to United Neighborhood Centers’ CEDAR Center Project The Dime Bank announced a $25,000.00 donation to the United Neighborhood Centers (UNC) of Northeastern Pennsylvania in support of their CEDAR Center project. This donation is made via the PA Department of Community and Economic Development Neighborhood Assistance Program. The contribution underscores The Dime Bank’s dedication to community development and its belief in UNC’s mission to empower individuals and families. The CEDAR Center, a transformative initiative by UNC, will revitalize a historic building into a vibrant community hub. The center will provide expanded access to vital services, including education, job readiness training, workforce development programs, community health resources, and support for immigrant integration. “At The Dime Bank, we believe that strong communities are built through strong partnerships. We’re proud to support UNC’s vision for the CEDAR Center and to work alongside them to create a brighter future for our neighbors.” said Senior Vice President Chief Financial Officer Jeffrey Roche. “The CEDAR Center is poised to become a cornerstone of community life, offering resources and opportunities for residents to thrive. The Dime Bank’s donation reflects its commitment to investing in the future of the community and empowering individuals to reach
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.”
The Dime Bank 2024 Dividend Results 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.”
The Dime Bank Supports Pocono Environmental Education Center The Dime Bank is proud to announce a $9,000.00 donation to the Pocono Environmental Education Center (PEEC) through the PA Department of Community and Economic Development’s Educational Improvement Tax Credit to support their hands-on environmental education programs for local school students. “The Dime Bank is committed to supporting initiatives that promote environmental education and sustainability,” said President and Chief Executive Officer Peter Bochnovich. “We believe that investing in the future of our planet is essential, and PEEC’s programs are a valuable resource for our community’s young people.” PEEC’s mission is to inspire, educate, and empower people to care for the natural world. Through their innovative programs, students have the opportunity to explore the wonders of nature, learn about environmental issues, and develop a deeper appreciation for the planet. Director of Development Amanda Subjin stated, “We are so thankful for the support of The Dime Bank through the EITC program. The majority of the funding we receive through these donations is dedicated towards providing hands-on environmental education programming to local school students either by visiting their classroom or when they come to PEEC for a field trip. How exciting for students to connect with their local national recreation area!”
The Dime Bank Announces Officer Promotions The Dime Bank is pleased to announce the promotion of four key team members. These well-deserved advancements underscore the bank’s commitment to cultivating and empowering its talent pool while strengthening the overall management team. Jenn Tagle to Vice President Application Services Manager, Robert Karoscik to Vice President Banking Relationship Officer, Riley Terysen to Assistant Vice President Branch Manager, and Adam Ropati to Assistant Vice President Branch Manager. Tagle has been with The Dime Bank since May 2003 holding various positions, contributing her expertise and dedication to the organization for 21 years. As Vice President, Application Services Manager, she is responsible for managing and overseeing the implementation and maintenance of software applications within The Dime Bank. This role involves stakeholder communication and continuous process review and improvement to enhance application performance and support organizational success. Jenn Tagle stated, “I’m truly thankful for this opportunity and look forward to the professional growth it will bring.” Karoscik has been with The Dime Bank since 2015 as branch manager in several branches, leading his team with over 30 years of banking experience. In his role as Vice President, Banking Relationship Officer, Bob is responsible for developing and maintaining residential and commercial customer relationships while overseeing branch operations. Bob inspires his colleagues to bring their best to work each day, ensuring exceptional service for The Dime Bank customers. Terysen has been with The Dime Bank since May 2016, delivering eight years of banking experience. As branch manager, he oversees branch operations, staff development, customer relations, and the growth of deposits and loans. Terysen previously held various roles at The Dime Bank, including teller and assistant branch manager. Terysen stated, “Very thankful for this opportunity and grateful to work for a company that invests in its employees. Looking forward to the new challenges and opportunities ahead.” Ropati joined The Dime Bank in 2023 as a float branch manager and is currently the branch manager of our Steamtown office. He brings many years of experience as a branch manager from another financial institution, showcasing his dedication to customer service and operational excellence. President and Chief Executive Officer Peter Bochnovich stated, “Please join me in congratulating these exceptional employees as they embark on new leadership roles. Their promotions are a testament to their hard work and dedication. At The Dime Bank, our vision is clear: to foster growth, prosperity, and strong community ties while delivering exceptional value to our shareholders. To bring this vision to life, we require a dynamic leadership team capable of driving innovation and inspiring our workforce. I am confident that their expertise and enthusiasm will propel us forward and position us for continued success.”
