Dime Community Bank Announces Key Hires in Business Banking division

Kenneth J. Mahon, President and Chief Executive Officer of Dime Community Bancshares, Inc. (the “Company”) (NASDAQ: DCOM), the parent company of Dime Community Bank (the “Bank” or “Dime”), is pleased to announce today that Rosalind Sheron has joined the Bank as Senior Vice President, Municipal Banking and Laurence Marchini has joined the Bank as Senior Vice President, Team Leader (Manhattan).

Mr. Mahon noted, “Our growing relationship-based Business Banking division continues to attract seasoned executives. Dime’s recent conversion to a commercial bank charter has provided the Bank with the additional business opportunity of accepting municipal deposits.  Rosalind has significant experience in the municipal banking arena and is intimately familiar with our geographic footprint.  She will be responsible for building out our municipal banking business. The ability to gather municipal deposits provides us another important avenue to lower our loan-to-deposit ratio over the medium-to-long-term.” Mr. Mahon continued, “Manhattan is a very important market for our Business Banking division, and I am excited that Larry will be joining as a team leader.  We remain focused on hiring high quality teams and transforming our business model into the pre-eminent Metro New York community commercial bank.”

Ms. Sheron previously served as Vice President and Market Manager for HSBC Bank USA, NA in Melville, New York. She has a proven record of over 40 years of banking experience, including Bank of America, Fleet Bank and National Westminister Bank USA.

Mr. Marchini previously served as Senior Vice President and Team Leader for ConnectOne Bank.  Prior to ConnectOne Bank, Mr. Marchini was a Vice President of BankUnited, N.A., the Chief Lending Officer at Greater Hudson Bank, and President and Director of Gotham Bank of New York.   

ABOUT DIME COMMUNITY BANCSHARES, INC.

The Company had $6.48 billion in consolidated assets as of March 31, 2019. The Bank was founded in 1864, is headquartered in Brooklyn, New York, and currently has twenty-nine retail branches located throughout Brooklyn, Queens, the Bronx, Nassau County and Suffolk County, New York. More information on the Company and the Bank can be found on Dime's website at www.dime.com.

Contact: Avinash Reddy Executive Vice President – Chief Financial Officer 718-782-6200 extension 5909