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7 months ago
BRIEF-Dime Community Bancshares announces prepayment of ESOP share acquisition loan
December 28, 2016 / 9:47 PM / 7 months ago

BRIEF-Dime Community Bancshares announces prepayment of ESOP share acquisition loan

1 Min Read

Dec 28 (Reuters) - Dime Community Bancshares Inc :

* Dime Community Bancshares announces the prepayment of the ESOP share acquisition loan

* prepayment of ESOP share acquisition loan to result in one-time, non-tax deductible charge to earnings of $0.30/share in Q4

* establishment of KSOP,repayment of share acquisition loan expected to result in annual reduction to operating expense of about $1.1 million

* establishment of KSOP,repayment of share acquisition loan expected to result in increase of about $0.03 in diluted EPS

* prepayment of ESOP share acquisition loan to result in one-time, non-cash, non-tax deductible charge to earnings for quarter ending Dec 31

* prepayment to result in one-time, non-cash, non-tax deductible charge to earnings of about $11 million, in quarter ending Dec 31 Source text for Eikon: Further company coverage:

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