Dimeco announces earnings report

Robert Tomkavage, The Times-Tribune, Scranton, Pa.
·1 min read

Oct. 24—Dimeco Inc., the parent company of the Honesdale-based Dime Bank, reported net income of $9.5 million for the first nine months of 2022, a 6.4% increase of the same period last year.

Total deposits of $828 million were 3.4%, or $27.1 million, greater than balances reported last year.

Total assets of $961 million for the first nine months of 2022 reflect a decrease of $7.4 million from the same period in 2021.

The board of directors declared dividends of $1.08 per share during the past nine months, which produced a dividend yield of 3.18% on Sept. 30. Dividends are up nearly 6% over the amount paid in 2021.

The Dime Bank opened two new branches in the third quarter, one in Scranton and one in Honesdale.

— ROBERT TOMKAVAGE