06:15 AM EDT, 07/10/2024 (MT Newswires) -- Dime Community Bancshares ( DCOM ) said Tuesday that the underwriters of its previously closed offering of 9% fixed-to-floating rate subordinated notes due 2034 fully exercised their overallotment option.

The underwriters have been offered to purchase about $9.8 million in additional notes.

This brings the gross proceeds from the offering, which closed on June 28, to about $74.8 million.

Net proceeds from the offering are expected to be used for general corporate purposes and to support the bank and the parent company's regulatory capital ratios, the company said.