Dime Commercial Bancshares to buy ES Bancshares for about $58 million
Dime Commercial Bancshares agreed to acquire ES Bancshares for roughly $58 million, paying $30 million in cash and 720,000 shares, with closing expected in Q1 2027.
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what happened
Dime Commercial Bancshares, Inc. (DCOM) has signed a definitive agreement to acquire ES Bancshares for approximately $58 million. The price will be paid with $30 million in cash and 720,000 Dime shares. The information comes from a press release distributed by GlobeNewswire.
According to the company, the price equals about 1.09 times tangible book value, and expected earnings per share accretion is about 3.5%. Tangible book value dilution is estimated at roughly 2%, with earn-back in under three years. Closing is expected in the first quarter of 2027, subject to regulatory and shareholder approvals.
why it matters
The deal is small compared with Dime's roughly $15 billion in assets, but it expands its New York footprint and its base of low-cost deposits. For investors, the key points remain approval timing and whether the forecast earnings uplift materializes. The news matters mainly for DCOM shareholders.
market impact
US banks: small local deal with minimal sector impact; DCOM faces share dilution from new stock issuance.
tags
instruments
sources
- Dime Commercial Bancshares, Inc. (DCOM) To Acquire ES Bancshares for ~$58M — globenewswire.com, 20 October 2026 at 10:15 UTC
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