Basswood Capital Amends Dime Community Bancshares Filing

TL;DR

Basswood Capital updated its stake in Dime Community Bancshares. Watch for potential moves.

AI Summary

Basswood Capital Management, L.L.C. filed an amendment (Amendment #12) to its Schedule 13D on November 14, 2024, regarding its holdings in Dime Community Bancshares, Inc. The filing indicates a change in the beneficial ownership of the securities, though specific dollar amounts or percentage changes are not detailed in this excerpt.

Why It Matters

This filing updates information on significant beneficial ownership, which can signal changes in investor strategy or influence over the company.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate shifts in significant investor positions, which can lead to increased volatility or strategic changes for the company.

Key Players & Entities

• Basswood Capital Management, L.L.C. (company) — Filing entity
• Dime Community Bancshares, Inc. (company) — Subject company
• 898 VETERANS MEMORIAL HIGHWAY (address) — Dime Community Bancshares business address
• 645 MADISON AVENUE (address) — Basswood Capital Management business address

FAQ

Key Financial Figures

• $0.01 — respect to the common stock, par value $0.01 per share (the " Common Stock "), of Di
• $32.00 — l shares) of Common Stock at a price of $32.00 per share (the " Follow-on Offering ").
• $32 — wood Managed Account 11/12/24 29,000 $32 $928,000.00 12
• $928,000.00 — Managed Account 11/12/24 29,000 $32 $928,000.00 12

Filing Documents

• b81306687.htm (SC 13D/A) — 163KB
• b81306687b.htm (EX-2) — 17KB
• 0000899140-24-001281.txt ( ) — 182KB

Purpose of Transaction

Item 4. Purpose of Transaction

of the Schedule 13D is hereby amended and supplemented by adding the following at the end thereof

Item 4 of the Schedule 13D is hereby amended and supplemented by adding the following at the end thereof: On November 12, 2024, the Issuer completed the public offering of 4,492,187 shares (which includes 585,937 shares issued to the underwriters as a result of their exercise in full of their option to purchase additional shares) of Common Stock at a price of $32.00 per share (the " Follow-on Offering "). In connection with the Follow-on Offering, on November 8, 2024, Matthew Lindenbaum entered into a lock-up agreement (the " Lock-Up Agreement ") with the Issuer pursuant to which Matthew Lindenbaum agreed, subject to certain exceptions, not to offer, sell, pledge or otherwise transfer any shares of Common Stock for a period of 90 days from November 12, 2024. The foregoing description of the Lock-Up Agreement does not purport to be complete and is qualified in its entirety by the full text of the Lock-Up Agreement, a form of which is filed as an exhibit to this Amendment No. 12 and incorporated herein by reference.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer Items 5(a) – 5(c) and 5(e) of the Schedule 13D are hereby amended to reflect the following: (a) and (b). As of the date of this Amendment No. 12, each of the Reporting Persons beneficially owns shares of Common Stock in such numbers as set forth on the cover pages of this Schedule 13D. The total number of shares each of the Reporting Persons beneficially owns represents such percentages of the Common Stock outstanding as set forth on the cover pages to this Schedule 13D based upon the approximately 43,643,837 million shares of Common Stock outstanding as of November 13, 2024, as reported in the Issuer's Prospectus Supplement on Form S-3 filed with the Securities and Exchange Commission on November 13, 2024. (c) Schedule I hereto sets forth all transactions with respect to the Common Stock effected by the Reporting Persons during the past 60 days. All such transactions were effected in the open market, and per share prices include any commissions paid in connection with such transactions. (e) As of November 12, 2024, the Reporting Persons ceased to be the beneficial owners of more than five percent (5%) of the Common Stock of the Issuer.

Material to be filed as Exhibits

Item 7. Material to be filed as Exhibits.

of the Schedule 13D is hereby amended to include the following

Item 7 of the Schedule 13D is hereby amended to include the following: Exhibit 2: Form of Lock-Up Agreement. 10 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: November 14, 2024 Basswood Capital Management, L.L.C. By: /s/ Matthew Lindenbaum Name: Matthew Lindenbaum Title: Managing Member Basswood Partners, L.L.C. By: /s/ Matthew Lindenbaum Name: Matthew Lindenbaum Title: Managing Member Basswood Opportunity Partners, LP By: Basswood Capital Management, L.L.C. By: /s/ Matthew Lindenbaum Name: Matthew Lindenbaum Title: Managing Member Basswood Opportunity Fund, LP By: Basswood Capital Management, L.L.C. By: /s/ Matthew Lindenbaum Name: Matthew Lindenbaum Title: Managing Member Basswood Financial Fund, LP By: Basswood Capital Management, L.L.C. By: /s/ Matthew Lindenbaum Name: Matthew Lindenbaum Title: Managing Member Basswood Financial Long Only Fund, LP By: Basswood Capital Management, L.L.C. By: /s/ Matthew Lindenbaum Name: Matthew Lindenbaum Title: Managing Member Basswood CoInvestment Fund (SPC), Ltd., For and on Behalf of Segregated Portfolio C-1 By: Basswood Capital Management, L.L.C. By: /s/ Matthew Lindenbaum Name: Matthew Lindenbaum Title: Managing Member /s/ Matthew Lindenbaum Matthew Lindenbaum /s/ Bennett Lindenbaum Bennett Lindenbaum 11 SCHEDULE I Transaction Type Fund Trade Date Shares Purchased/Sold Price (Gross) Trade Amount Buy Basswood Managed Account 11/12/24 29,000 $32 $928,000.00 12

View Full Filing

View this SC 13D/A filing on SEC EDGAR