Long Island’s Dime plans to buy Staten Island bank
Empire State Bank is headquartered on Staten Island, where it operates four branches. It has two more in Brooklyn. Dime, which has about $15 billion of assets, has 63 branches, most of which are located on Long Island.
As of June 30, Empire had $617 million of assets, according to the Federal Deposit Insurance Corp. The deal, which needs regulatory approval, is expected to close during the first quarter of 2027. It has received a thumbs-up from the boards of directors at each bank, the banks said.
“This transaction represents another logical step in Dime’s growth strategy,” Dime CEO Stuart Lubow said in a press release. “Staten Island is an attractive banking market that has untapped potential for Dime. Empire is a well-run commercial bank that has developed a strong deposit base.” —Allissa Kline
