Business leaders, elected officials, and community members gathered in Lakewood to celebrate the grand opening and ribbon-cutting of Dime Commercial Bank’s newest branch, marking the institution’s first location outside of New York State.

The new branch, located at 500 Boulevard of the Americas, represents a significant milestone for the 162-year-old bank, which now operates 63 branches.

Local and county officials welcomed the bank’s expansion into New Jersey during the ceremony. Ocean County Commissioners Frank Sadeghi and Sam Ellenbogen, along with Lakewood Township Committeeman Meir Lichtenstein, presented official proclamations recognizing Dime’s arrival in both Lakewood and the state.

Speakers highlighted Lakewood’s continued economic growth and its role as a business hub within Ocean County.

“Ocean County used to be a quiet place where people would come to retire,” Commissioner Sadeghi said. “Now, we foresee our population surpassing one million residents, and Lakewood makes things continue ‘happening’ in the County.”

Lichtenstein reflected on growing up near a Dime branch in Brooklyn and expressed enthusiasm about the bank’s decision to establish a presence in Lakewood.

“There are tens of millions of square feet of nonprofit, commercial and industrial space in Lakewood,” Lichtenstein said. “We welcome Dime Bank to become part of the grassroots fabric of our thriving business world and community at large.”

Bank officials said that while Dime offers a full range of personal banking services, including a nationally recognized first-time homebuyer mortgage program, its primary focus remains serving commercial and nonprofit organizations.

Executives emphasized the bank’s commitment to building long-term relationships with businesses, nonprofits, and local communities, a model they say has been central to its operations throughout New York and will continue in Lakewood.

The Lakewood branch is led by Michael Ragusa Jr., First Vice President, who has lived and worked in Lakewood and neighboring communities for nearly two decades and maintains longstanding ties to local residents and institutions.

As part of the grand opening celebration, Dime President and CEO Stuart Lubow and Ragusa presented charitable donations to the Lakewood Community Services Corporation (LCSC) and Chai Lifeline.

“Today, as we celebrate the Grand Opening of our Dime Commercial Bank branch in Lakewood, we affirm our commitment to businesses in the Lakewood area, as well as to its diverse communities,” Lubow said. “We are excited to contribute to the growth of our clients with operations in the area.”

The opening marks Dime Commercial Bank’s first step into the New Jersey market and reflects the institution’s confidence in Lakewood’s expanding business and nonprofit sectors.