Dime Announces the Addition of a Managing Director of Real Estate

BROOKLYN, NY--(Marketwired - January 25, 2016) - Kenneth J. Mahon, President and Chief Operating Officer of Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the "Company" or "Dime"), the parent company of The Dime Savings Banks of Williamsburgh (the "bank"), today announced that Calogero ("Charlie") Terrasi has joined the bank as Managing Director of Real Estate and Business Development.

According to Mr. Mahon, "Charlie has extensive knowledge of the real estate market in and around New York City, and is in touch with a wide network of owners and developers in the New York real estate community. He will be responsible for the bank's brick‐and‐mortar infrastructure, including leasing, de novo site selection and procurement, and rationalization of highest and best use for Dime's existing owned properties." Charlie will report to Terence Mitchell, Chief Retail Officer of Dime.

"Charlie will also be actively engaged in new business development," continued Mr. Mahon. "In 2015, Dime was rated one of the top 5 lenders in the New York City multifamily market by Commercial Observer, and we are very pleased to have Charlie join us and be part of our growth."

Mr. Terrasi is a seasoned banking and real estate professional with over 13 years of experience, including Bluestone Group, Dime, Hudson Valley Bank and Washington Mutual. Over the course of his career he has successfully worked on in excess of $1 billion of real estate transactions across various asset types, as well as the disposition of over $150 million of non‐accrual loans. He holds a Bachelor of Business Administration with a concentration in Marketing from Pace University.

ABOUT DIME COMMUNITY BANCSHARES, INC.

The Company (NASDAQ: DCOM) had approximately $5 billion in consolidated assets as of December 31, 2015, and is the parent company of Dime. Dime 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 Dime can be found on the Dime's Internet website at www.dime.com.