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[DIME LOGO]
SEPTEMBER 2000
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Investors are urged to read (1) Dime's solicitation/recommendation statement
filed with the Securities and Exchange Commission on Schedule 14D-9 on March 21,
2000 with respect to North Fork Bancorporation's hostile exchange offer, (2) any
proxy materials filed by Dime on Schedule 14A and (3) Dime's tender offer
statement on Schedule TO, as well as any amendments or supplements to these
statements when they become available, because they contain important
information. Each of these documents has been or will be filed with the SEC and
investors may obtain them for free from the SEC at the SEC's website
(www.sec.gov) or from Dime by directing such request to: Dime Bancorp, Inc.,
Investor Relations Dept., 589 Fifth Avenue, New York, NY 10017,
telephone 1-212-326-6170, or to Innisfree M&A Incorporated at 1-888-750-5834.
Dime, its directors and executive officers and certain other persons may be
deemed to be "participants" in any solicitation of proxies from Dime
stockholders. Information regarding the participants in such solicitation is
contained in Dime's Schedule 14A filed with the SEC on August 17, 2000.
Dime believes that "operating earnings" basis information, when taken in
conjunction with reported results, provide useful information in evaluating
performance on a comparable basis, although operating earnings are not currently
a required basis for reporting financial results under generally accepted
accounting principles.
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OVERVIEW
REGIONAL CONSUMER AND BUSINESS BANK
- $25.3 billion in assets
- $15.8 billion in total loans
- $14.3 billion in deposits
- 127 branches; One million customers
NATIONAL CONSUMER LENDING FRANCHISE
- $1.8 billion home equity portfolio; 29th among banks and thrifts
- 11th largest home mortgage originator in the U.S./19th largest
loan servicer
- Full product line; Multiple distribution channels
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SECOND QUARTER HIGHLIGHTS
(OPERATING BASIS*; DOLLARS IN MILLIONS, EXCEPT PER SHARE DATA)
<TABLE>
<CAPTION>
2Q 00 2Q 99 Change
----- ----- ------
<S> <C> <C> <C>
Net Income $66.6 $60.8 +10%
Earnings per Share $0.60 $0.54 +11%
Return on Equity 17.14% 16.73% +41bp
Net Interest Income $ 156 $ 140 +12%
Fee Income $ 99 $ 92 +7%
General and Administrative Expense $ 139 $ 150 (7%)
Non-Performing Assets $ 84 $ 89 (5%)
</TABLE>
*Reported earnings adjusted for the effects of certain non-recurring or unusual
items.
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FIVE YEAR TREND
(OPERATING BASIS*; DOLLARS IN MILLIONS, EXCEPT PER SHARE DATA)
<TABLE>
<CAPTION>
At/For the Year Ended December 31,
----------------------------------
1999 1998 1997 1996 1995
---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C>
Net Income $ 244 $ 217 $ 157 $ 121 $ 79
Operating EPS 2.17 1.89 1.45 1.11 0.72
Return on Assets 1.11% 1.02% 0.78% 0.61% 0.38%
Return on Equity 16.74 16.34 14.25 12.00 8.29
Net Interest Margin 2.91 2.68 2.51 2.40 2.07
Efficiency Ratio 51.40 53.91 51.17 52.55 59.83
NPAs/Assets 0.36 0.37 0.67 1.30 1.55
</TABLE>
*Reported results adjusted for the effects of certain non-recurring or unusual
items.
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PERFORMANCE - OPERATING* EPS
16 CONSECUTIVE QUARTERLY INCREASES
----------------------------------
[BAR GRAPH]
<TABLE>
<S> <C>
Q1 '96 $0.27
Q2 '96 $0.27
Q3 '96 $0.28
Q4 '96 $0.29
Q1 '97 $0.31
Q2 '97 $0.35
Q3 '97 $0.38
Q4 '97 $0.41
Q1 '98 $0.43
Q2 '98 $0.47
Q3 '98 $0.49
Q4 '98 $0.51
Q1 '99 $0.52
Q2 '99 $0.54
Q3 '99 $0.55
Q4 '99 $0.56
Q1 '00 $0.59
Q2' 00 $0.60
</TABLE>
*Reported results adjusted for the effects of certain non-recurring or unusual
items.
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CONSUMER FINANCIAL SERVICES
BUSINESS FOCUS - BUILD CORE DEPOSITS
------------------------------------
[PIE CHART 1]
12/31/97
<TABLE>
<S> <C>
DEMAND 11%
SAVINGS 18%
MONEY MARKET 14%
TIME 57%
</TABLE>
TOTAL DEPOSITS (MM): $13,847
CORE DEPOSITS/TOTAL DEPOSITS: 43%
[ARROW GRAPHIC POINTING FROM PIE CHART 1 TO PIE CHART 2]
[PIE CHART 2]
6/30/00
<TABLE>
<S> <C>
DEMAND 16%
SAVINGS 17%
MONEY MARKET 22%
TIME 45%
</TABLE>
TOTAL DEPOSITS (MM): $14,284
CORE DEPOSITS/TOTAL DEPOSITS: 55%
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INSURANCE/SECURITIES BROKERAGE
(in Millions)
BUSINESS FOCUS - INCREASE FEE INCOME
------------------------------------
[BAR GRAPH]
<TABLE>
<S> <C>
1997 $23.7
1999 $36.7
Q2 '99 $10.1
Q2 '00 $11.3
</TABLE>
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CONSUMER LENDING
----------------
(Dollars in Millions)
BUSINESS FOCUS - EXPAND AND DIVERSIFY LOAN PORTFOLIO
----------------------------------------------------
[BAR CHART]
<TABLE>
<S> <C>
12/31/97 $ 774
12/31/98 $ 973
12/31/99 $2,495
6/30/00 $2,817
</TABLE>
[PIE CHART]
JUNE 30, 2000
<TABLE>
<S> <C>
HOME EQUITY 64%
OTHER 4%
AUTOMOBILE 32%
</TABLE>
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COMMERCIAL REAL ESTATE LENDING
------------------------------
(Dollars in Millions)
BUSINESS FOCUS - INCREASE LOAN PORTFOLIO
----------------------------------------
[BAR CHART]
<TABLE>
<S> <C>
12/31/97 $2,263
12/31/98 $2,568
12/31/99 $3,483
6/30/00 $3,881
</TABLE>
[PIE CHART]
JUNE 30, 2000
<TABLE>
<S> <C>
MULTI-FAMILY 43%
OFFICE BUILDINGS 24%
RETAIL CENTERS 19%
OTHER 14%
</TABLE>
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BUSINESS BANKING
----------------
(in Millions)
BUSINESS FOCUS - GROW LOANS AND DEPOSITS
----------------------------------------
[BAR CHART]
LOANS
<TABLE>
<S> <C>
12/31/97 $99
12/31/98 $287
12/31/99 $1,029
6/30/00 $1,114
</TABLE>
[BAR CHART]
DEPOSITS
<TABLE>
<S> <C>
12/31/97 $120
12/31/98 $159
12/31/99 $407
6/30/00 $429
</TABLE>
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MORTGAGE BANKING
----------------
(Dollars in Billions)
BUSINESS FOCUS - MAINTAIN BALANCE AND PROFITABILITY
---------------------------------------------------
[BAR CHART]
ORIGINATIONS
<TABLE>
<S> <C>
1997 $8.6
1998 $30.5
1999 $22.4
2000 $16.3*
</TABLE>
[BAR CHART]
SERVICING
<TABLE>
<CAPTION>
Weighted Average Coupon
<S> <C> <C>
12/31/97 $24.9 7.78%
12/31/98 $34.8 7.35%
12/31/99 $38.3 7.27%
6/30/00 $41.0 7.30%
</TABLE>
*1st half annualized
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OVERALL BUSINESS FOCUS - BECOME MORE "BANK-LIKE"
------------------------------------------------
(Dollars in Billions)
IMPROVE LOAN MIX
[BAR CHART]
<TABLE>
<CAPTION>
Business,
Consumer
and Total
Residential Commercial Dollar
Mortgage Real Estate Amount
-------- ----------- ------
<S> <C> <C> <C>
12/31/97 76% 24% $13.0
6/30/00 51% 49% $16.0
</TABLE>
INCREASE CORE DEPOSITS
[BAR CHART]
<TABLE>
<CAPTION>
Total
Dollar
Time Core Amount
---- ---- ------
<S> <C> <C> <C>
12/31/97 57% 43% $13.8
6/30/00 45% 55% $14.3
</TABLE>
REDUCE SECURITIES PORTFOLIO
[BAR CHART]
<TABLE>
<S> <C> <C>
12/31/97 23% $5.0
6/30/00 16% $3.9
</TABLE>
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OVERALL BUSINESS FOCUS - MAINTAIN IMPROVED ASSET QUALITY
--------------------------------------------------------
(Dollars in Millions)
NON-PERFORMING
ASSETS
[BAR GRAPH]
<TABLE>
<S> <C>
1995 $316
1996 $245
1997 $147
1998 $ 83
1999 $ 86
Q2 '00 $ 84
</TABLE>
NON-PERFORMING
ASSETS
[PIE CHART]
June 30, 2000
<TABLE>
<S> <C>
RESIDENTIAL REAL ESTATE 43%
COMMERCIAL REAL ESTATE 5%
CONSUMER 11%
BUSINESS 19%
ORE 22%
</TABLE>
NET CHARGE-OFFS TO AVERAGE LOANS RECEIVABLE
[BAR GRAPH]
<TABLE>
<S> <C>
1995 0.86%
1996 0.61%
1997 0.55%
1998 0.24%
1999 0.10%
6/30/00 0.14%
</TABLE>
ALLOWANCE TO NON-ACCRUAL LOANS
[BAR GRAPH]
<TABLE>
<S> <C>
1995 50%
1996 56%
1997 88%
1998 191%
1999 202%
Q2 '00 218%
</TABLE>
(At period end except net charge-offs)
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UPDATE -- RECENT DEVELOPMENTS
- $238 Million Investment by Warburg Pincus
- Tony Terracciano Named Chairman
- Dutch Auction Tender Offer for 12.5% of Dime's Shares
- Proposed Spin-Out of Litigation Tracking Warrants
- Review Balance Sheet and Expense Base
- Accelerate Business Plan
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