Dime Commercial Bancshares to Acquire Empire State Bank
The $58 million deal will add six bank branches to the Dime network by early 2027.
Updated on Oct. 23, 2026 in Banking
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Dime Commercial Bancshares has agreed to acquire ES Bancshares, the parent company of Empire State Bank, in a $58 million cash-and-stock deal. The acquisition will expand the footprint of Dime into Staten Island, impacting customers across the firm's combined branch network.
Why it matters
The deal combines a larger institution with a regional player to increase market presence in Staten Island. For local customers, this shift in ownership marks a change in the banking landscape that may eventually alter branch access or service options.
The acquisition is valued at $58 million, combining Empire State Bank's $617 million in assets with Dime Commercial Bancshares' $15 billion portfolio. This deal adds six new branches to Dime's existing network of 63 locations.
The players
Dime Commercial Bancshares
A financial institution managing approximately $15 billion in assets and 63 bank branches.
ES Bancshares
The parent company of Empire State Bank which operates locations in Staten Island and Brooklyn.
Empire State Bank
A regional bank provider operating four branches on Staten Island and two in Brooklyn.
The details
Dime Commercial Bancshares is purchasing ES Bancshares through a cash-and-stock transaction to grow its reach in the Staten Island market. The deal consolidates Empire State Bank's four Staten Island branches and two Brooklyn branches under the Dime umbrella. The acquisition remains subject to regulatory approval before it can proceed.
Timeline
Empire State Bank recorded $617 million in assets on June 30, 2026.
The acquisition is expected to close during the first quarter of 2027.
Money Landscape
This acquisition follows an established pattern of regional banks acquiring smaller entities to expand their physical branch footprint. It reflects the broader consolidation trend in the banking sector as institutions seek to gain greater local market share.
Customers of Empire State Bank should wait for official communication regarding potential changes to account terms or branch services before the 2027 closing. Keep your current statements and documents organized in case of administrative transitions during the merger process.
The takeaway
Large-scale bank acquisitions often lead to changes in operational policies and branch availability for existing account holders. It is a good time to review your current fee schedules and service agreements to ensure you understand how your banking experience might shift in the coming year.
Further reading
For more on how institutional changes affect your account, visit Banking.
Source note: This article includes information reported by American Banker.
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