Dime Commercial Bancshares to Buy ES Bancshares for $58 Million

The Tip Desk · October 26, 2026 · 1 min read

The mixed cash-and-stock combination is meant to deepen Dime’s Staten Island and Brooklyn franchise with a granular, low-cost core deposit base.

Dime Commercial Bancshares, Inc. (DCOM) agreed to acquire ES Bancshares, Inc. in a mixed cash-and-stock transaction valued at approximately $58 million, a deal the New York bank holding company said would add a granular, low-cost core deposit base and expand business-focused customer relationships on Staten Island and in Brooklyn.

Empire shareholders will receive 720,000 shares of Dime common stock and $30.0 million in cash. The combination is expected to close in the first quarter of 2027, subject to customary closing conditions, including regulatory approval and approval of Empire’s shareholders.

The company said the transaction significantly enhances Dime’s presence in Staten Island and strengthens its Brooklyn footprint by increasing market density.

Stuart H. Lubow, President and Chief Executive Officer of Dime, stated, “This transaction represents another logical step in Dime's growth strategy. Staten Island is an attractive banking market that has untapped potential for Dime.”

The transaction includes cash and stock consideration, with Empire shareholders able to elect either form subject to the merger agreement’s proration formula, while the 720,000-share component is the equity slice of the roughly $58 million package. Closing remains contingent on regulators and on Empire’s own shareholders, with the first quarter of 2027 as the stated target.