Dime Commercial Bancshares, Inc. /NY/ (DCOM) Form 8-K — Oct 20, 2026
Dime Commercial Bancshares (NYSE: DCOM) has agreed to acquire ES Bancshares, Inc., parent of Empire State Bank, in a cash-and-stock merger valued at approximately $58 million, or $8.39 per ES Bancshares share, based on Dime's 10-day VWAP of $38.55. Consideration consists of up to $30.0 million in cash and 720,000 Dime common shares, with shareholder elections subject to 50/50 proration. ES Bancshares CEO Philip Guarnieri will join Dime Commercial Bank as Managing Executive Director at a $400,000 base salary, while both he and COO Thomas Sperzel receive settlement payments totaling roughly $2.8 million in lieu of remaining employment agreement obligations.
Key figures
- Deal Value Usd
- 58000000
- Dime 10day vwap
- $38.55
- Termination fee
- $2.363 million
- Guarnieri new salary
- $400,000
- Sperzel settlement payments
- $1,271,181
- Aggregate cash consideration
- $30.0 million
- Guarnieri settlement payment
- $1,539,609
- Aggregate stock consideration
- 720,000 Dime common shares
- Per share value es bancshares
- $8.39
- Es bancshares shares outstanding
- 6886282
AI analysis
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