The Dime Savings Bank of Williamsburgh Completes Its Conversion to New York State Charter

BROOKLYN, NY--(Marketwire - Jul 2, 2012) - The Dime Savings Bank of Williamsburgh (the "Bank"), a subsidiary of Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the "Company"), announced the completion of its conversion from a federally-chartered stock savings bank to a New York State-chartered stock savings bank. 

Effective as of the close of business on June 29, 2012, the New York State Department of Financial Services serves as the Bank's primary regulator, and the Federal Deposit Insurance Corporation serves as the Bank's primary federal regulator. The Company continues to be regulated as a savings and loan holding company by the Federal Reserve Board, which regulates both bank holding companies and savings and loan holding companies.

ABOUT THE COMPANY AND THE BANK
The Company (NASDAQ: DCOM) had $4.02 billion in consolidated assets as of March 31, 2012, and is the parent company of the Bank. The Bank was founded in 1864, is headquartered in Brooklyn, New York, and currently has twenty-six 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.dime.com.