James Manseau

About James Manseau

James J. Manseau (age 61) is Executive Vice President and Chief Banking Officer at Dime Community Bank, a role he has held since 2008; prior to Dime, he spent 1990–2008 as a Divisional Senior Vice President at North Fork Bancorporation/Capital One, and he is a graduate of the State University of New York at Farmingdale . Under the current management plan, Dime delivered 2024 total shareholder return of 18.5% (top quartile vs peers) and achieved strategic milestones including 20% YoY core deposit growth ($1.8B raised by new teams), NIM expansion, reduced CRE concentration, improved capital ratios (>11% CET1), and a follow-on equity raise of ~$136M—key conditions underpinning executive incentive designs focused on balance sheet quality and deposit franchise strength . Since the July 28, 2023 CEO transition, DCOM’s stock rose 24.3% through year‑end 2023, signaling market support for the strategic shift Manseau helps execute on the deposit and banking side .

Past Roles

External Roles

Fixed Compensation

• Recent proxies do not individually disclose Manseau’s base salary or annual cash compensation (he is not a Named Executive Officer in 2024–2025). Company-wide, base salaries for NEOs are reviewed annually with April 1, 2024 increases, and the Compensation Committee emphasizes cost discipline across the senior team .
• For context, the Compensation Committee sets base salary ranges using market data and responsibilities; details are provided for NEOs only .

Performance Compensation

Dime uses consistent corporate frameworks across senior executives; while Manseau’s specific targets are not disclosed, the company’s annual and long‑term incentive designs and metrics signal what drives executive payouts.

• 2024 Annual (Cash) Incentive Plan (AIP) – Corporate Factor (85% weight) and Discretionary Factor (15%):

  • Corporate metrics, weights and thresholds/targets/maximums: Adjusted Non‑Interest Expense/Average Assets (50% | 1.75%/1.55%/1.35%), Relative NPLs/Loans vs peer group (12.5% | 25th/50th/75th percentile), CET1 (10% | 10.25%/11.0%/12.0%), CRE Concentration (15% | 550%/510%/470%), Loan‑to‑Deposit (12.5% | 105%/97.5%/90%) .
  • Discretionary areas (15% total) include deposits from new hires, technology progress, compliance, TSR, CRA, cybersecurity; a capital ratio gate at 10.5% Total RBC applies .
  • Company 2024 performance on corporate metrics produced a 123.7% weighted result; discretionary factor paid at 120% for NEOs .

• 2024 Long‑Term (Equity) Incentive Plan (LTIP):

  • Mix: 60% performance‑vested restricted stock (PRSA) and 40% time‑vested RSAs (ratable over 3 years), emphasizing performance alignment .
  • 2024–2026 PRSA metrics/weights: Relative Deposit Franchise Quality among Metro NY/NJ banks (50% | 25th/50th/75th percentile) and Consolidated CRE Concentration ratio (50% | 490%/450%/400%) with 50–150% payout range; performance measured over 2026 endpoints .
  • Typical vesting cadence for RSAs (time‑based) around March 31 each year (ratable), per NEO award schedules; performance awards are cliff‑vested based on 3‑year outcomes .

• 2023 AIP/LTIP precedent (for context): AIP corporate factor focused on efficiency, asset quality, CET1, CRE concentration, and a liquidity scorecard; weighted result 124.8% with discretionary overlays . 2023 LTIP used Relative TSR and Relative Deposit Franchise Quality metrics (60%/40%) .

2024 AIP Metrics (Corporate Factor)

2024–2026 LTIP (PRSAs) Metrics

Note: Exact participation, targets and payouts for Manseau are not disclosed; tables reflect company executive plan designs and realized corporate results for NEOs .

Equity Ownership & Alignment

Employment Terms

These Manseau terms are disclosed in historical and merger‑transition proxies; recent proxies do not update his individual agreement terms but maintain the same structural approach for senior executives .

Compensation Structure Analysis

• Mix and risk: Dime places heavy weight on performance‑based equity (60% of LTIP) and balance‑sheet quality metrics (CRE concentration, deposit franchise quality), reducing reliance on pure TSR—this aligns executive incentives with durability of funding and risk posture .
• Guardrails: Robust clawback compliant with SEC/Dodd‑Frank, no option repricing without shareholder approval, no pledging/hedging, and no CIC gross‑ups; AIP has a capital gate at 10.5% Total RBC to curb risk-taking .
• Peer benchmarking and say‑on‑pay: Pay is informed by a 22‑bank peer group (assets ~$8.75–$30B; commercial‑lending focused); say‑on‑pay passed with 81.0% support in 2024 and 80.4% in 2023, indicating reasonable investor alignment .

Investment Implications

• Incentive levers point to continued focus on core deposits, CRE de‑risking, and capital strength—positive for credit quality and NIM trajectory; corporate results in 2024 exceeded targets on cost efficiency, capital, CRE concentration and L/D ratio, driving above‑target AIP payouts for NEOs and signaling operational momentum that Manseau’s banking organization helps deliver .
• Retention risk appears mitigated by rolling employment terms, meaningful severance economics, and equity‑linked incentives with multi‑year vesting; prohibited pledging/hedging and clawback enhance alignment and reduce governance red flags .
• Trading signals: Annual RSA vesting cycles (ratable, typically around March 31) and cliff PRSA outcomes (end‑2026) can create periodic supply events for executives; although Manseau’s current holdings/awards are not disclosed, company‑wide schedules suggest potential seasonal vest‑related flows to monitor .
• Execution focus: With deposit franchise quality and CRE concentration embedded in LTIP metrics, the banking organization led by Manseau is central to value creation; sustained delivery on deposit mix and CRE de‑concentration should support multiples and reduce earnings volatility .

Sources: Dime Community Bancshares 2025 and 2024 DEF 14A proxy statements and prior-year proxies for Manseau’s agreement history and ownership disclosures .