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DCOM |
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Because of its focus on multi-family real estate lending and its limited geographic diversity, DCOM is particularly exposed to the local real estate market which continues to exhibit strong characteristics, a significant driver in the company's strong asset quality indicators. 9, 2004, DCOM initiated an exchange offer whereby up to $70 million of registered trust preferred securities (series B capital securities), which bear a fixed interest rate of 7% and mature in 2034, were offered in exchange for a like amount of 7%, 30-year trust preferred securities previously sold in a private transaction (series A capital securities) in March 2004. As a result, neither Dime Community Capital Trust I nor DCOM will receive any cash proceeds from this issuance. |
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