SOURCE: Dime Community Bancshares, Inc.

January 25, 2006 14:00 ET

Dime Community Bancshares, Inc. Adds to Management Team

BROOKLYN, NY -- (MARKET WIRE) -- January 25, 2006 --Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the "Company"), the parent company of The Dime Savings Bank of Williamsburgh (the "Bank"), today announced that the Bank has hired Christopher D. Maher to fill the new position of Executive Vice President of Retail Banking.

Mr. Maher's focus will be the development of an enhanced retail banking strategy. Additionally, he will oversee the Bank's entire retail banking operations, including the call center ("dimedirect"), and the ongoing evaluation of marketing strategies.

Michael P. Devine, President and Chief Operating Officer, commented on the hiring by saying, "At a challenging time in the banking environment, Chris brings to the Dime a wealth of knowledge about retail banking and the use of technology in the delivery of retail products and services. As the Dime looks to both solidify its footprint in its chosen markets and expand its deposit base, Chris will be a key member of the senior management team responsible for achieving those goals."

Mr. Maher, 39, was most recently a Senior Vice President of the Banking Division of the BISYS Group. Prior to that role, he spent over 10 years at the Dime Savings Bank of New York in a variety of senior management positions in its Retail, Insurance and Consumer Lending units. Mr. Maher holds a Bachelor of Arts degree in Business from Upsala College. He is currently a Trustee of the Helen Keller National Center.

ABOUT DIME COMMUNITY BANCSHARES

Dime Community Bancshares, Inc., a unitary holding company, is the parent of The Dime Savings Bank of Williamsburgh, founded in 1864, and headquartered in Brooklyn, New York. With $3.23 billion in assets as of September 30, 2005, the Bank has twenty branches located throughout Brooklyn, Queens, the Bronx and Nassau County, New York. More information on the Company and the Bank can be found on the Bank's Internet website at www.dimedirect.com.

Contact Information

  • Contact:
    Kenneth Ceonzo
    Director of Investor Relations
    718-782-6200 extension 8279