The Dime Savings Bank of Williamsburgh Changes Name to Dime Community Bank

BROOKLYN, NY -- (Marketwired) -- 08/01/16 -- The Dime Savings Bank of Williamsburgh, the wholly owned banking subsidiary of Dime Community Bancshares, Inc. (NASDAQ: DCOM), today announced that it officially changed its name to Dime Community Bank.

According to Kenneth J. Mahon, President and Chief Operating Officer, "The new name, Dime Community Bank, more accurately reflects our evolving business model and will allow us to emphasize our broader geographic and business reach, while not abandoning our mission to be in and of the communities we serve, including the virtual community online."

The bank will continue to be referred to as "DIME" in all marketing and advertising.

"We strongly believe that today, consumers and businesses want to "bank local" and with institutions that support their communities," continued Mr. Mahon. "Having done that for over 150 years makes us uniquely qualified to use the name Dime Community Bank.

"It is also important to note that our commitment to Williamsburg remains as strong as ever, which is reflected in the opening of two new branches there later this year, as well as our continued sponsorship of the Dime McCarren 5K which runs through the heart of the community."

ABOUT DIME COMMUNITY BANCSHARES, INC.

Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the "Company") had $5.56 billion in consolidated assets as of June 30, 2016, and is the parent company of the Dime Community Bank (the "bank"). The bank was founded in 1864, is headquartered in Brooklyn, New York, and currently has twenty-five 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 RoseExecutive Vice President and Chief Administrative Officer718-782-6200 extension 8260

Source: Dime Community Bancshares

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