Dime Commercial Bancshares to Acquire ES Bancshares
The cash-and-stock deal will expand Dime's presence into the Staten Island banking market.
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 transaction valued at $58 million. The merger, which has received board approval from both institutions, marks a significant expansion for the Long Island-based bank.
Why it matters
The acquisition allows Dime to formally enter the Staten Island market by absorbing the existing operations of Empire State Bank. This deal builds upon Dime's existing scale as it seeks to integrate regional banking assets into its larger network.
Dime currently manages approximately $15 billion in total assets across its 63 existing branches. Empire State Bank contributes four Staten Island locations and two in Brooklyn to the firm's footprint.
The players
Dime Commercial Bancshares
A financial institution based on Long Island that manages approximately $15 billion in total assets.
ES Bancshares
The parent company of Empire State Bank, a regional banking organization headquartered in Staten Island.
The details
The acquisition is structured as a cash-and-stock deal that requires formal regulatory approval before completion. Once finalized, the transaction will consolidate ES Bancshares into Dime's existing financial infrastructure.
Timeline
Empire State Bank held $617 million in assets as of June 30, 2026.
The acquisition is expected to close during the first quarter of 2027.
Market Dynamics
This acquisition follows the regulatory patterns established by the Bank Holding Company Act of 1956 for bank consolidations. It reflects the ongoing trend of regional consolidation as larger financial institutions absorb local banks to secure greater market share.
Current customers of Empire State Bank should await further communication regarding changes to branch operations and account management protocols. Investors and stakeholders will monitor the deal's path through the required regulatory review process.
The takeaway
The merger highlights how regional banks are increasingly using acquisitions to gain geographic access to competitive urban markets. Customers of the smaller institution should stay informed about potential transitions to the acquiring bank's digital and physical services.
What happens next
The transaction is scheduled for completion during the first quarter of 2027, pending necessary regulatory approvals.
Further reading
For more on local industry trends, see Banking.
Source note: This article includes information reported by American Banker.
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