The $13 billion-asset company said in a press release Monday that
it sold more than $585 million of 2021 PPP originations, adding that it expects
to report a pretax gain of roughly $20.5 million in the second quarter.
Dime said its tangible common equity ratio should increase by about
45 basis points. Its tangible book value per share is expected to increase by about
34 cents.
“Now it is time to continue helping our clients by partnering with
a well-respected firm, with deep expertise in the PPP space, to take over the
ongoing servicing and forgiveness process,” Kevin O’Connor, Dime’s CEO, said in
the release.
“We expect the sale to free up our staff to focus on more
traditional lending efforts and continue our track record of providing
exemplary service," O'Connor added.
No comments:
Post a Comment