Dime Names New Corporate Treasurer

Dime Community Bancshares, Inc. (the “Company” or “Dime”) (NASDAQ: DCOM), the parent company of Dime Community Bank (the “Bank”), announced today the promotion of Steven Karaman to Corporate Treasurer.

Karaman will oversee all aspects of the Company's funding, liquidity, investment portfolio and balance sheet strategy. He will lead the Treasury team and help guide the Bank as it continues to deliver competitive solutions for its clients.

“Steve has proven to be a strong leader and strategic contributor to Dime’s finance team over the years,” said Avi Reddy, Dime’s Chief Financial Officer. “We look forward to seeing his impact expand in this new leadership role. His deep skills and strategic approach will be strong assets to Dime as we continue to position ourselves as the premier business bank on Greater Long Island.”

Karaman has over 25 years of financial and treasury experience. Most recently, Karaman was involved in all aspects of Dime’s stress testing functions. Prior to joining the Company in 2017, he served as Treasurer of Suffolk County National Bank. He earned a bachelor's degree and an MBA in Banking and Finance from Hofstra University.

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 $13.8 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