The Dime Bank Donates to Local Animal Shelter The Dime Bank recently pledged $10,000.00 to the Olga and Dorothea Dessin Animal Society (Dessin), a non-profit private organization that facilitates the placement of countless animals into caring homes each year. Dessin’s fundraising efforts and facility maintenance were hindered by COVID. The Dime Bank funds will assist with crucial renovations, such as upgrading the septic system, HVAC, electrical systems, and restoring the kennels. The Dime Bank Chief Operating Officer Lisa Cavage stated, “Being a community bank, The Dime Bank understands the significance of Dessin Animal Shelter’s unwavering dedication to providing animal rescue, medical care, animal housing, and adoption services. We extend our gratitude to Dessin’s staff and volunteers for their hard work, and we hope that our pledge will aid in upgrading their facilities.” If you would like to assist Dessin with a donation, would like to volunteer, or adopt a pet, visit www.dessinshelters.com.
The Dime Bank Recognizes the Retirement of Board Member Dimeco, Inc. and The Dime Bank Board of Directors member Thomas A. Peifer announces his retirement from the board after serving for 35 years. Thomas A. Peifer joined the Board of Directors in 1988 while holding the position of superintendent of the Wallenpaupack Area School District in Hawley, Pennsylvania. This provided him with numerous area resident personal relationships, who comprise a significant portion of The Dime Bank marketplace. Peifer was also the president of Metlag, Inc., a franchised retail Agway store, which he sold in 2014. As a local businessman and lifetime resident of Pike County, Peifer brought his expertise and knowledge of the Pike County market area to guide management decisions. Tom’s proficiency was further enhanced by his numerous community and civic affiliations. Peifer was committed to oversight through active participation during monthly meetings and through the various committees he served on throughout the years. He enabled strong corporate governance with his high standards of integrity and candor. President and Chief Executive Officer Peter Bochnovich stated, “Please join me, along with fellow board members and The Dime Bank management, in thanking Tom for his dedication, commitment, and knowledge that has helped The Dime Bank grow and prosper. Board service can be difficult at times, and Tom took on his duties with steadfastness and thoughtfulness. We are grateful for his active leadership as a judicious steward of our organization and express our sincere gratitude for his service to our customers and helping grow shareholder value. Those of us that know Tom personally admire him not only for his business efforts, but also for his personal lifetime values as a devoted husband, father, and grandfather. Tom’s presence will be missed, and we wish him well.”
The Dime Bank Contributed to the Geisinger Health Foundation The Dime Bank contributed $15,000.00 to the Geisinger Health Foundation through the Educational Improvement Tax Credit (EITC) Program. The Dime Bank’s contribution assists with funding the Regional Educational Academy for Careers in Health-Higher Education Initiative (REACH-HEI) program, which runs out of the Geisinger Commonwealth School of Medicine (GCSOM) and serves students grades 8-12 within 9 counties in Northeast and Central, PA. REACH-HEI is a specialized out-of-school program that aims to identify and support students who are most in need of encouragement, including those from low-income backgrounds and those who are first-generation-to-college students. The program is designed to help these students reach their full potential in health-related professions. With the help of medical and graduate students, they provide high school students with academic enrichment opportunities, while also inspiring and guiding them towards health-related professions, particularly in medicine. Their experiential learning opportunities foster a sense of curiosity, deepen their knowledge of life sciences, and improve college readiness. The Dime Bank Senior Vice President, Chief Financial Officer Jeffrey Roche stated, “At The Dime Bank, we are committed to supporting education in our region. We were very impressed during our visit to GCMC to tour the REACH-HEI program. The students were engaged, and the hands-on experience was fascinating. Supporting this curriculum helps develop the medical innovators of tomorrow, who will create a healthier future for our communities.”
The Dime Bank Hosts Reality Fair with Honesdale High School The Dime Bank is committed to bringing financial education to their communities. Recently, The Dime Bank teamed up with Honesdale High School to host an inaugural reality fair, aimed at enhancing students’ financial and life skills. The fair provided students with an interactive experience for making real world financial decisions and managing money. President and Chief Executive Officer Pete Bochnovich stated, “The reality fair was a fun way for students to build financial knowledge and skills. The fair helped students experience what it is like to have a checking account, decide how to use their money, obtain a loan, manage expenses, and more. At The Dime Bank, we believe that financial education is a crucial part of personal development, and we are incredibly grateful to all who collaborated with us to make this program a success.”
The Dime Bank Celebrates Employee Milestones Each year The Dime Bank holds a dinner celebration to acknowledge and honor their employees who are celebrating five-year incremental career anniversaries with The Dime Bank. In 2023, twenty-six Dime Bank employees were honored. The Dime Bank believes employee anniversary celebrations are an important part of recognizing and appreciating the hard work and dedication of their employees. It’s a time to celebrate their achievements, milestones, and loyalty to The Dime Bank. President and Chief Executive Officer commented, “We are grateful for our employees, who make The Dime Bank one-of-a-kind. Their positivity, commitment, and devotion provide our customers with the best possible experience. Each employee is valued and is an integral part of The Dime Bank’s success and we thank them for their hard work and commitment.”
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.
