Last $39.60 USD
Change Today -0.85 / -2.10%
Volume 350.0
DIMC On Other Exchanges
Symbol
Exchange
OTC US
As of 8:10 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

dimeco inc (DIMC) Snapshot

Open
$39.60
Previous Close
$40.45
Day High
$39.60
Day Low
$39.60
52 Week High
10/25/13 - $45.50
52 Week Low
04/22/14 - $38.95
Market Cap
64.4M
Average Volume 10 Days
60.0
EPS TTM
$4.12
Shares Outstanding
1.6M
EX-Date
06/26/14
P/E TM
9.6x
Dividend
$1.52
Dividend Yield
3.84%
Current Stock Chart for DIMECO INC (DIMC)

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dimeco inc (DIMC) Details

Dimeco, Inc. operates as the bank holding company for The Dime Bank that provides various financial products and services to individual and business customers. Its deposit products include checking, money market, time-saving, certificate of deposit, and IRA accounts, as well as personal savings. The company’s loan portfolio comprises personal, automobile, recreational vehicle, lot, collateral, home equity, and residential mortgage loans, as well as home equity lines of credit; and lending services consist of acquisition financing, equipment loans, capital improvement, flexible terms for seasonal businesses, and local processing and quick approval services. It also offers Internet based cash management, electronic check recovery, merchant credit card, investment, and trust services. In addition, the company provides various financial products and services, including retirement products and services, title and life insurance products, mutual funds, educational savings plans, brokerage services for stocks and bonds, money management and advisory services, and financial and estate planning services. It operates seven full-service branches in Honesdale, Hawley, Damascus, Greentown, and Dingmans Ferry, Pennsylvania; two off-site automatic teller machines in Wayne and Pike County, Pennsylvania; and an operations center in Honesdale, Pennsylvania. Dimeco, Inc. was founded in 1905 and is headquartered in Honesdale, Pennsylvania.

122 Employees
Last Reported Date: 03/7/14
Founded in 1905

dimeco inc (DIMC) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $250.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $163.0K
Senior Vice President, Assistant Secretary, C...
Total Annual Compensation: $163.0K
Compensation as of Fiscal Year 2012.

dimeco inc (DIMC) Key Developments

Dimeco, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Dimeco Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported net income of $1.4 million resulted in a return on average assets of 0.95% and a return on average equity of 9.14%. The level of net income for this quarter of 2014 was $157,000 lower than the comparative period in 2013 due in part to the current low interest rate environment and a return on average assets of 1.06 % and a return on average equity of 10.49% for the same period last year. Total interest income was $6,292,000 compared to $6,551,000 for the same period last year. Net interest income was $5,484,000 compared to $5,594,000 for the same period last year. Net income per diluted share was $0.88 compared to $0.98 for the same period last year. Book value per share was $38.99 compared to $37.36 for the same period last year.

Dimeco, Inc., Annual General Meeting, Apr 24, 2014

Dimeco, Inc., Annual General Meeting, Apr 24, 2014., at 14:00 US Eastern Standard Time. Location: the Community Room of the Wayne County Chamber of Commerce Building located at 303. Agenda: To elect three directors; to ratify the appointment of S.R. Snodgrass, P.C. as its independent auditors for the fiscal year ending December 31, 2014; and to transact any other business that may properly come before the annual meeting and any adjournments or postponements thereof.

Dimeco, Inc. Reports Earnings Results for the Nine Months Ended September 30, 2013

Dimeco, Inc. reported earnings results for the nine months ended September 30, 2013. For the period, the company reported net income of $4.6 million. This resulted in a return on average assets of 1.02%, a return on average shareholders’ equity of 10.02%, and earnings per share of $2.82. Net income declined $411,000 or 8.2% compared to the same period in 2012. When compared to budget, results of operations are very close to its projections. The primary components of the change in net income are as follows: Net interest income increased $287,000, primarily due to the decrease in the cost of funds of 16.8%. Although interest income earned on loans and investments has declined from year to year, the company recognized a greater decline in the cost of funds over the period. Provision for loan loss expense was $700,000 or 35% greater for the first nine months of 2013 than in 2012. Loan quality issues are aggressively managed including charging off or down loan balances, requiring the increases in provision expense to maintain the Allowance for Loan Loss at the appropriate level. Noninterest income increased $491,000 or 15.4% for the first nine months of 2013 compared to the same period in 2012. Noninterest expense was $899,000 or 8.3% greater for the first nine months of 2013 than a year earlier. Several factors contributed to this increase including: payroll and employee benefits were $187,000 or 3.2% greater due to adding several employees for its newest branch combined with normal salary increases; legal expenses increased $184,000 or 112.2% as the company continue loan workout issues; and the company have recognized declines of $388,000 in market value of three properties that were held in other real estate owned, which was $213,000 greater than these expenses in 2012. Smaller increases in other noninterest expense items accounted for the remaining increase.

 

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DIMC

Industry Average

Valuation DIMC Industry Range
Price/Earnings 10.7x
Price/Sales 2.8x
Price/Book 1.1x
Price/Cash Flow 10.7x
TEV/Sales 0.6x
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