Dime Announces Expansion in Manhattan With Deposit-Focused Group

Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”) announced that it has hired a deposit-focused Group that will cover the Manhattan market. The Group will be led by Avi Azuolay. The Group was previously employed with the former Signature Bank and its successor, Flagstar Bank.

Stuart H. Lubow, President and Chief Executive Officer of Dime said, “We are excited to announce the addition of another talented deposit-focused Group. Avi and his team have had tremendous success in Manhattan over the past two decades. His team was instrumental in building out Hudson Valley Bank’s Manhattan presence. Subsequent to Hudson Valley Bank’s sale, he had a successful tenure at Signature Bank. Dime is committed to growing our Manhattan presence over time and we are extremely excited to have Avi on board.”

“We were attracted to Dime’s single point of contact model, client centric approach, and best-in-class technology. Our team has a proven track record of growing deposits in Manhattan and we are excited to be part of Dime’s growth plans,” said Avi.

ABOUT DIME COMMUNITY BANCSHARES, INC.

Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over $13.5 billion in assets and the number one deposit market share among community banks on Greater Long Island (1).

Dime Community Bancshares, Inc.Investor Relations Contact:Avinash ReddySenior Executive Vice President – Chief Financial OfficerPhone: 718-782-6200; Ext. 5909Email: [e-mail]

¹ Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets.