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Dime Community Bancshares, Inc. (DCOM) CEO Kevin O'Connor on Q2 2021 Results - Earnings Call Transcript

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Dime Community Bancshares, Inc. (NASDAQ:DCOM) Q2 2021 Earnings Conference Call July 30, 2021 8:30 AM ET

Company Participants

Kevin O'Connor - President & Chief Executive Officer

Avi Reddy - Chief Financial Officer

Stu Lubow - President & Chief Operating Officer

Conference Call Participants

Mark Fitzgibbon - Piper Sandler

Matthew Breese - Stephens Incorporated

William Wallace - Raymond James


Good day, and welcome to the Dime Community Bancshares Incorporated Second Quarter Earnings Conference Call 2021. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Kevin O'Connor. Please go ahead.

Kevin O'Connor

Thank you, Tom, and thank you all for joining us this morning on our second earnings call as the new Dime. With me today is, Stu Lubow, our President and Chief Operating Officer; and Avi Reddy, our CFO.

In my prepared remarks, I'll make some comments about our merger and update you on significant events in our first full quarter as the new Dime. I will also provide you some color on progress we've made on the business front. Avi will then provide you some details on the quarter, and we'll leave plenty of time for questions.

First, let's start with the merger. As you'll recall, we closed our MOE transaction on February 1 and successfully completed our core systems integration on April 17. Since that time, we've converted most of our treasury and cash management customers. All of this has been executed seamlessly by our dedicated team. Importantly, we've delivered the promised cost saves and operated at an efficiency ratio of 48%.

As I mentioned on our first quarter call, to watch our staff accomplish this, while putting our customers

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