Dimeco, Inc. Declares Cash Dividend

Honesdale, PA, September 14, 2023 / The Board of Directors of Dimeco, Inc. (OTCQX: DIMC) declared a dividend on September 13, 2023, of $0.38 per share to shareholders of record September 29, 2023. The dividend is payable on October 26, 2023, the anticipated date to release earnings for the third quarter of 2023. This dividend is an increase of $0.02 per share over the dividend declared in September 2022. This dividend of $0.38 per share produced a yield of 4.53% at the market value of $33.52 on September 13, 2023. 

President and Chief Executive Officer Peter Bochnovich stated, “We continue our commitment to provide the ultimate banking experience to our customers and our communities. This dividend is one way to thank our shareholders for their continued investment in and loyalty to Dimeco, Inc.”

About Dimeco, Inc.

Dimeco, Inc. is the parent holding company of The Dime Bank, a full-service financial institution serving Northeast Pennsylvania since 1905. Dimeco, Inc. reported balances on June 30, 2023, of $969 million in total assets, loans of $686 million, and deposits of $795 million. Dimeco, Inc. trades on the OTCQX Marketplace under symbol ‘DIMC’, operated by OTC Markets Group. For more information on Dimeco, Inc. and The Dime Bank, visit www.thedimebank.com.

The Dime Bank 2023 Scholarship Recipients

The Dime Bank has awarded scholarships to six students based on their academic and leadership capabilities from Wallenpaupack Area, Wayne Highlands, Delaware Valley, Carbondale Area, Scranton, and West Scranton school districts. The students must be furthering their education in the field of business, economics, finance, management, or accounting to be eligible for The Dime Bank Directors Award Scholarship. Each graduating senior received $1,000.00 to attend the college of their choice. The Dime Bank is proud to support future leaders with this educational assistance. 

The Dime Bank Supports Lacawac Sanctuary

The Dime Bank donated $9,750.00 to Lacawac Sanctuary to support their hands-on academic enrichment and innovative educational programs. The Lacawac Sanctuary is a non-profit conservation, research, and education center providing the community with a host of quality environmental, historical, and cultural programs.

$7,500.00 was donated through the PA Department of Community and Economic Development’s Educational Improvement Tax Credit program to support Lacawac Sanctuary’s mission to educate students with important ecological and environmental science lessons, strengthening academic achievement in Science, Technology, Engineering, and Math. On-site visits to Lacawac, off-site teachings at schools, educational workshops, and curriculum for afterschool sessions are just some of Lacawac’s innovative and educational offerings.

$1,000.00 was donated as a corporate sponsorship, $1,000.00 was donated as an epicurean sponsorship of the 8th Annual Farm to Plate Dinner event, and $250.00 was donated to the Cocktails for Conservation fundraiser. All three help with the Sanctuary’s mission to help promote environmental understanding through education and conservation.

“Many schools have insufficient funding to create their own programs that allow students to explore our diverse lake and forest habitats. Lacawac’s programs are multidisciplinary and geared towards a wide audience. We are happy to support this vital sanctuary that is available not only to our students but to people of all ages,” stated The Dime Bank Vice President Marketing Deb Unflat.

The Dime Bank Brings Personal Finance Education to Students

The Dime Bank contributed $9,000.00 to the nonprofit, Brighter Financial Futures, doing business as the Pennsylvania Council on Financial Literacy. This donation, which was made through the Educational Improvement Tax Credit (EITC) Program, supports students in the Wayne Highlands, Wallenpaupack, and Delaware Valley school districts and Canaan Christian Academy through the Personal Finance Education Program.

The Personal Finance Program hosts three programs in one: a personal financial curriculum teaching personal finance and business; a stock market challenge simulation that teaches students how to invest in the stock market; and a personal budgeting game simulation where students learn about credit, budgeting, net worth, and financial balance for quality of life.

The first-place winners of the Stock Market Challenge were Wayne Highlands Middle School student Claire Goldstein and Delaware Valley High School student Ritesh Patel. Each student received a Chromebook, a $100.00 gift card, and The Dime Bank gift basket.

President and Chief Executive Officer Peter Bochnovich commented, “Personal finance skills provide a solid foundation for future success, and we feel this program is very worthwhile for our future leaders to gain a greater understanding of the world of finance.”

The Dime Bank Supports Delaware Valley School District Students

Pictured left to right: Arielle Wilkes (teacher), Nat Carso (student), Josephine LordI (student), Donna Dale (actor), Jeffrey Stocker (director), Charles Terrat (actor) and Jackie Weston (teacher).

The Dime Bank is in the business to enrich DV students’ lives. The Dime Bank donated $15,000.00 cumulatively to the two organizations through the Educational Improvement Tax Credit Program.

The ART program brought the historical understanding of the Holocaust through “The Diary of Anne Frank” to DVSD middle school students with an interactive format including professional actors performing a dramatic reading, music exploration, and journal writing.

Jackie Weston, DVSD English Department Chairperson enthused “Thank you so much for supporting this project and our DVSD children. We are so appreciative of this great opportunity.”

The GPCF program focused on STEM literacy for DVSD middle school students to prepare for high school. The MakerSpace lab and Lego Coding Club were expanded, and two new programs were introduced: Drone Certification and an Aquaponics Lab for elementary school students.

About The Dime Bank

Since 1905, The Dime Bank, Member FDIC, has been making a difference in the lives of those they touch by helping generations of customers realize their goals and dreams. With nine branches in Wayne, Pike, and Lackawanna Counties, The Dime Bank offers you better banking, in person and online. Community banking yields community benefits. For more information on The Dime Bank, visit www.thedimebank.com, Facebook, Instagram, YouTube, LinkedIn.

The Dime Bank Celebrates Their Indian Orchard Branch

The Dime Bank celebrated their Indian Orchard branch at 1055 Texas Palmyra Highway, Honesdale, PA, its newest addition to the community bank’s branch network, with a ribbon cutting ceremony on April 27, 2023. This new branch brings personal banking with universal bankers and high-tech solutions to the community. The Dime Bank universal bankers are cross-trained to take care of all customer needs in one place. They act as a dedicated personal financial assistant, helping to simplify the financial complexities of life. The branch offers an iPad kiosk for customers to log into their online accounts as well as a drive-up ATM, which brings 24/7 high-tech convenient access to funds.

Additionally, The Dime Bank is committed to enhancing our communities by supporting our aspiring entrepreneurs and business customers with an Entrepreneurial Center located at this new facility. The Dime Bank Entrepreneurial Center offers customers a comfortable and secure environment with a variety of technological resources. Space can be reserved at www.thedimebank.com/entrepreneurial-center.

Moreover, The Dime Bank’s Customer Care Center (CCC) is in this building. The CCC offers customers telephone assistance with a live, knowledgeable, local care team. Telephone assistance is available after branches are closed and on weekends, for the hours and phone number, visit: www.thedimebank.com/ways-to-bank. This location also hosts The Dime Bank’s Support Center with back-office departments including information technology, digital banking, retail support, fraud, bank security, deposit operations, loans, human resources, marketing, compliance, training, and facilities management.

The Dime Bank staff were available at the celebration to give tours of this state-of-the-art banking facility and answer questions. County officials and many customers of The Dime Bank were present to show their support. The community is invited to visit The Dime Bank Indian Orchard branch to meet the staff and discuss how The Dime Bank can help you meet your financial goals. The Indian Orchard branch offers customers access to trusted, dependable professionals who bring financial solutions to the community during these hours:

Lobby Hours:

Monday – Thursday: 8:30 a.m. – 4:00 p.m.

Friday: 8:30 a.m. – 5:00 p.m.

Saturday: 8:30 a.m. – Noon

Drive Up Hours:

Monday – Thursday: 8:00 a.m. – 5:00 p.m.

Friday: 8:00 a.m. – 6:00 p.m.

Saturday: 8:30 a.m. – Noon

President and Chief Executive Officer Peter Bochnovich expressed, “Branches are core to The Dime Bank’s business. In addition to catering to individuals with bank accounts and home loans, our branches also support businesses and non-profit organizations in the community. We’re excited that this new facility is not only a branch, but it offers an Entrepreneurial Center to expand the scope of solutions we offer to our customers. Our expert staff are available to provide the ultimate customer experience. Our mission to serve the financial needs of all continues to hold true as we strive to build strong partnerships for years to come. We thank you for your continued support and hope everyone will be able to take full advantage of this new advanced banking facility and all that we offer as a community bank. The Dime Bank’s commitment to provide quality financial solutions for our customers and our communities remains unchanged since 1905.”

The Dime Bank donated $10,000.00 to NeighborWorks NEPA

Lackawanna County, PA / April 7, 2023 / Earlier this year, The Dime Bank donated $10,000.00 to NeighborWorks Northeastern PA via the Neighborhood Assistance Program. NeighborWorks rejuvenates neighborhoods and creates opportunities for individuals and families to improve their lives through quality housing and financial guidance.

This donation will support the 2023 Scranton Beautiful Blocks Program. The program provides matching grants of up to $1,000.00 to each member of a group of at least five Scranton residents to help them make exterior improvements to their homes. Grants are awarded annually through a competitive application process.

“We want to sincerely thank The Dime Bank for their generous contribution towards this year’s Beautiful Blocks Program in Scranton,” said Jesse Ergott, NeighborWorks Northeastern Pennsylvania President & CEO. “We are grateful for their commitment to making a positive impact in our community and beyond.”

“As a community bank, The Dime Bank is proud to partner with NeighborWorks and contribute to their efforts of revitalizing neighborhoods and building community connections. We are excited to be part of their Beautiful Blocks Program that encourages teamwork among neighbors and invests in property improvement,” stated William Boyle, The Dime Bank Senior Vice President Chief Lending Officer.

About The Dime Bank

The Dime Bank is committed to being involved in and contributing to our community’s development. If you are passionate about your future, choose The Dime Bank as your financial partner. Serving its primary market of Northeast Pennsylvania since 1905, the bank offers a full array of financial services and solutions. Community banking yields community benefits. Dimeco, Inc., parent company of The Dime Bank, trades on the OTCQX Marketplace under symbol DIMC. For more information on The Dime Bank, visit www.thedimebank.com.

About NeighborWorks Northeastern Pennsylvania

NeighborWorks is a nonprofit organization that has worked for more than 40 years to increase the financial stability of families and individuals by providing programs and services that create and preserve responsible homeownership and affordable housing throughout the City of Scranton, Lackawanna County and Northeastern Pennsylvania. With programs including homeownership coaching and education, aging in place, home renovation services, and neighborhood revitalization initiatives, NeighborWorks is deeply ingrained in the community. More information about NeighborWorks can be found at www.nwnepa.org.

Pictured: Brian C. Urbas, The Dime Bank Vice President Commercial Lending Officer; William R. Boyle, The Dime Bank Senior Vice President Chief Lending Officer; Jessica L. Capwell, The Dime Bank Assistant Vice President Steamtown Branch Manager; Jesse Ergott, NeighborWorks Northeastern Pennsylvania President & CEO; Maurice E. Dennis, The Dime Bank Vice President Commercial Lending Officer.

The Dime Bank Donates to the Women’s Resource Center

The Dime Bank is proud to support The Women’s Resource Center (WRC) with a $4,500.00 donation through the PA Department of Community and Economic Development’s Educational Improvement Tax Credit (EITC) program.

The WRC is committed to preventing dating and sexual violence in Lackawanna and Susquehanna Counties. Using Safe Dates, an evidence-based dating abuse prevention curriculum, WRC helps middle school and high school students learn about healthy relationships, communication, calming techniques, red flags, and how to help friends. Programs are interactive, age-appropriate, and designed to raise awareness, build skills, change attitudes, beliefs, and behaviors, and empower young people to form healthy relationships with friends, peers, and current or future dating partners.

February is Teen Dating Violence Awareness Month and The Dime Bank’s Carbondale and Steamtown branches are displaying student artwork throughout the month. All in the community are invited to visit the branches to view the artwork. “We are so grateful for The Dime Bank’s support of our Safe Dates Program and letting us display the artwork for Teen Domestic Violence Awareness Month” said Amy E. Everetts, WRC Director of Development. For more information on WRC, visit www.wrcnepa.org.

The Dime Bank News

The Dime Bank Opportunity Account Receives Certification

Today The Dime Bank announced that its Opportunity Account was officially certified by the national Cities for Financial Empowerment Fund (CFE Fund) as meeting the Bank On National Account Standards (2023 – 2024). The national safe account Standards, co-created by consumer advocates, leading national nonprofit organizations, civic leaders, and other financial institutions, designate both core and strongly recommended features that ensure low cost, high functionality, and consumer safety.

Key features of The Opportunity Account include a monthly cost of only $5.00, no overdraft or nonsufficient fund fees, the ability to pay bills and make purchases, and federal deposit insurance. The Opportunity Account is available at The Dime Bank‘s nine (9) branches located in Wayne, Pike, and Lackawanna Counties, Pennsylvania.

“We believe that everyone should have the opportunity to access safe and affordable banking through a trusted financial institution like The Dime Bank. Our staff are here to assist customers along the way to improved financial wellness,” stated Peter Bochnovich, The Dime Bank President and Chief Executive Officer. “We are proud to offer this certified account to help our customers learn responsible financial habits with confidence at low cost and low fees.”

“The Cities for Financial Empowerment Fund is delighted to award its national Bank On account certification to The Dime Bank’s Opportunity Account,” said Jonathan Mintz, President and Chief Executive Officer of the Cities for Financial Empowerment Fund. “The Opportunity Account offers Wayne, Pike, and Lackawanna County residents who are looking to improve their finances a safe, affordable, and truly useful mainstream banking product to access and manage their money. The Dime Bank’s offering of this terrific account brings them into the forefront of national banking access efforts, and we thank them.”

The goal of Bank On is to ensure that everyone has access to safe and affordable financial products and services. The Bank On National Account Standards identify critical product features for appropriate bank or credit union accounts, making it easier for local coalitions across the country to connect consumers to accounts that meet their needs.

The Dime Bank Opportunity Account is available at nine (9) branches in Pennsylvania. With the addition of the Opportunity Account, accounts that meet Bank On National Account Standards are now available at over 46,000 branches in all 50 states and Washington, DC; financial institutions with Bank On certified accounts already comprise over 56% of the national deposit market share. In addition to The Dime Bank’s Opportunity Account, there are over 300 other Bank On certified accounts available at financial institutions across the country. Data collected by the CFE Fund in partnership with the Federal Reserve Bank of St. Louis through Bank On’s national reporting platform shows that these accounts are meeting consumers’ needs; since their offering, millions of consumers have opened Bank On certified accounts, with approximately 80% of them opened by consumers new to the financial institutions.

“I would like to congratulate The Dime Bank for attaining Bank On certification for its Opportunity Account. PA Bankers Association has been working with its member banks statewide since mid-2021 to increase the number of banks offering Bank On accounts in PA, and The Dime Bank becomes the 40th financial institution to offer a Bank On account in the state. We are grateful to The Dime Bank for its commitment to making sure all Pennsylvanians have access to safe and affordable banking products and services to improve their financial capability, health, and independence,” said Duncan Campbell, President & CEO, PA Bankers Association.

The CFE Fund leads the national Bank On movement, supporting almost 100 local coalitions working to connect individuals and families to the financial mainstream through partnerships between governments, financial institutions, and community organizations. To learn more about Bank On and the National Account Standards click here, or follow the conversation on Twitter @CFEfund #BankOn

The Dime Bank Introduces My Credit Manager

Now you can access your credit score and report when you log into Online and Mobile Banking! My Credit Manager is a credit score and report monitoring tool which is FREE to The Dime Bank Online and Mobile Banking users.
Utilizing My Credit Manager will help you understand, manage, and protect your credit.
Your credit score and report are available right now. Log in to your account and look for the My Credit scorecard in your dashboard. This free service helps you stay on top of your credit quickly and easily. 
Knowing your credit standing is essential when you want to open a loan or credit card, but it’s also important to track changes to your score since it can alert you to suspicious activity. My Credit gives you the tools to help protect your financial health. 
You’ll get 24/7 access to your credit report, a credit score simulator that estimates your score when you open new lines of credit, and resources to learn more about managing your score. 
Take advantage of this free resource at The Dime Bank to keep on top of your credit score.

The Dime Bank Donates to the YMCA Project

The Dime Bank donates $124,250.00 to the YMCA Project through the Department of Community and Economic Development under the Neighborhood Assistance Program Tax Credit Program.

The Wayne County YMCA has outgrown the current historical building and needs a new facility as the current facility is becoming too costly to operate.

The Dime Bank believes in supporting our community by partnering with many non-profits. Chief Financial Officer Jeffrey Roche stated, “The Dime Bank aspires to be an integral part of the neighborhoods that we service and where our customers and employees work, raise their families, and live. We are proud to help create a modern, state-of-the-art facility for everyone to enjoy.”

“A community project of this size and scope would not be possible without the support of The Dime Bank. Their donation of $124,250.00 will enable us to complete phase 1 of this project which includes the development and completion of engineering/design work, site development plans, sewage design, and various permits. We thank The Dime Bank for their commitment and participation in this critical community project,” stated YMCA Board President Jennifer DeYoung.