Dime Community Bancshares Appoints Kevin Stein to its Board of Directors

Dime Community Bancshares, Inc. (NASDAQ:DCOM) (the "Company" or "Dime"), the parent company of Dime Community Bank (the "bank"), announced the appointment of Kevin Stein to its Board of Directors effective as of December 20, 2017. Mr. Stein was also appointed to the Board of Directors of the bank.

"We are pleased to welcome Kevin to the Board," said Kenneth J. Mahon, President and Chief Executive Officer of Dime. "Kevin's diverse background in community and investment banking and his knowledge of the regulatory environment will be invaluable to our Board and we look forward to his contributions as we continue to build out our commercial banking platform."

Mr. Stein is CEO of Resolution Analytica, a buyer of commercial judgments, and an operating adviser of KCK-US, Inc., a private equity firm. He was previously Managing Director in the Financial Institutions Group of Barclays advising banks, specialty finance companies and financial sponsors, and prior, was partner at FBR Capital Markets & Co. and group head of the Depository Investment Banking practice. Prior to FBR, Kevin was an executive at GreenPoint Financial Corporation where he held a number of senior roles including Director of Strategy and Corporate Development, EVP of Mortgage Banking, Chief Information Officer, and Division Director of Retail Banking. Prior to GreenPoint, Kevin was an Associate Director of the Federal Deposit Insurance Corporation. Mr. Stein is currently on the Board of PHH Corporation. He received his MBA from Carnegie Mellon University and his Bachelor of Science from Syracuse University.

Vincent F. Palagiano, Chairman of both the Company and bank, stated, "Kevin's deep understanding of the banking industry will allow him to immediately add value to the Board. We are confident that Dime will benefit from his experience and insights."

ABOUT DIME COMMUNITY BANCSHARES, INC.The Company had $6.44 billion in consolidated assets as of September 30, 2017, and is the parent company of the bank. The bank was founded in 1864, is headquartered in Brooklyn, New York, and currently has twenty-eight branches located throughout Brooklyn, Queens, the Bronx and Nassau County, New York. More information on the Company and the bank can be found on Dime's website at www.dime.com.

Contact: Anthony Rose, Executive Vice President and Director of Investor Relations. 718-782-6200 extension 5260