HONESDALE, PA — Dimeco, Inc. (OTCQX: DIMC), the holding company for The Dime Bank, reported total assets of $1.026 billion on June 30, 2024, an increase of $57 million or 5.9 percent from the second quarter of 2023.

Total loans of $746 million reflect an increase of $59.9 million or 8.7 percent over last year.

Total deposits were $874 million on June 30, 2024, an increase of $78.6 million or 9.9 percent over the previous year.

Stockholder’s equity remains well-capitalized with an increase of 10.2 percent or $9.4 million from June 30, 2023, to $101.4 million on June 30, 2024.

Net income of $5.4 million for the first six months of 2024 was $444 thousand more than in the same period last year, resulting in an annualized return on average assets of 1.08 percent and return on average equity of 10.96 percent. 

Dimeco’s Board of Directors declared dividends of $0.80 per share for the first half of 2024, a 5.3 percent rise over last year, resulting in an annualized dividend yield of 4.46 percent.

About Dimeco, Inc.

Dimeco, Inc. is the parent holding company of The Dime Bank, a full-service financial institution serving Northeast Pennsylvania since 1905. Dimeco, Inc. trades on the OTCQX Marketplace under the symbol DIMC, operated by OTC Markets Group.

For more information on Dimeco, Inc. and The Dime Bank, visit www.thedime.bank.