Dime Community Bancshares (DCOM) Misses Q3 EPS by 2c
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Dime Community Bancshares (NASDAQ: DCOM) reported Q3 EPS of $0.33, $0.02 worse than the analyst estimate of $0.35.
OUTLOOK FOR THE QUARTER ENDING DECEMBER 31, 2011 The Company expects to maintain its current pace of loan originations through year end, with the goal of maintaining the absolute level of the loan portfolio -- currently approximately $3.4 billion. Some low-yielding liquidity will continue to be deployed throughout the remainder of the year, but it is not currently management's intention to meaningfully grow the loan portfolio at present rates. In the meantime, the Company is operating at a strong level of profitability and will continue to grow capital, which will be available for leverage at an appropriate time in the future.
Loans contractually scheduled to mature or reprice during the quarter ending December 31, 2011 total $86.7 million, at an average rate of 5.53%. Satisfaction and amortization rates (including prepayments and loan refinancing activity), which approximated 19.2% on an annualized basis during the most recent quarter, are expected to fall in the 15 - 20% annualized range during the December 2011 quarter.
The loan commitment pipeline was approximately $95.6 million at September 30, 2011, with an approximate weighted average rate of 4.42%, and was comprised primarily of multifamily residential loans.
OUTLOOK FOR THE QUARTER ENDING DECEMBER 31, 2011 The Company expects to maintain its current pace of loan originations through year end, with the goal of maintaining the absolute level of the loan portfolio -- currently approximately $3.4 billion. Some low-yielding liquidity will continue to be deployed throughout the remainder of the year, but it is not currently management's intention to meaningfully grow the loan portfolio at present rates. In the meantime, the Company is operating at a strong level of profitability and will continue to grow capital, which will be available for leverage at an appropriate time in the future.
Loans contractually scheduled to mature or reprice during the quarter ending December 31, 2011 total $86.7 million, at an average rate of 5.53%. Satisfaction and amortization rates (including prepayments and loan refinancing activity), which approximated 19.2% on an annualized basis during the most recent quarter, are expected to fall in the 15 - 20% annualized range during the December 2011 quarter.
The loan commitment pipeline was approximately $95.6 million at September 30, 2011, with an approximate weighted average rate of 4.42%, and was comprised primarily of multifamily residential loans.
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