FORM 4        UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D. C. 20549                                 OMB APPROVAL
                                                                            OMB Number         3235-0287
                                                                            Expires:  September 30, 1998
                                                                            Estimated average burden
                   STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP             hours per response.......0.5



   CHECK THIS BOX IF NO
   LONGER SUBJECT TO
   SECTION 16.  FORM 4 OR    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
   FORM 5 OBLIGATIONS MAY      Section 17(a) of the Public Utility Holding Company Act of 1935 or
   CONTINUE. SEE                     Section 30(f) of the Investment Company Act of 1940
   Instruction 1(b).

(Print or Type Responses)
                                                                                   
 1. Name and Address of Reporting Person*     2. Issuer Name AND Ticker or Trading       6. Relationship of Reporting
                                                 Symbol                                     Person(s) to Issuer
                                                                                             (Check all applicable)

  COHN           STEVEN          D.             DIME COMMUNITY BANCSHARES,INC. ("DCOM")        X Director           10% Owner
                                                                                                 Officer (give      Other (specify
                                                                                                       title           below)
                                                                                                       below)
   (Last)       (First)      (Middle)         3. IRS or                4. Statement for
                                                 Social Security           Month/Year
                                                 Number of                FEBRUARY, 2001
  209 HAVEMEYER STREET                           Reporting
                                                 Person (Voluntary)
                (Street)                                               5. If Amendment,   7. Individual or Joint/Group Filing
                                                                         Date of Original         (Check Applicable Line)
  BROOKLYN        NY         11211                                        (Month/Year)        X Form filed by One Reporting Person
   (City)       (State)      (Zip)                                                              Form filed by More than One
                                                                                                 Reporting Person



                                                                     TABLE I  NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF,
                                                                              OR BENEFICIALLY OWNED

                                                                                                   
 1. Title of Security               2. Trans-   3. Trans-    4. Securities           5. Amount of     6. Ownership     7. Nature of
      Instr. 3)                        action      action       Acquired (A)            Securities       Form:            Indirect
                                       Date        Code         or Disposed             Beneficially     Direct (D)       Beneficial
                                                   (Inst. 8)    of (D)                  Owned at End     or Indirect      Ownership
                                                                (Instr. 3,4             of Month         (I)             (Instr. 4)
                                                                 and 5)               (Instr. 3 and 4)   (Instr. 4)
                                       (Month/
                                          Day/
                                        Year)
                                                 Code   V     Amount  (A) or  Price
                                                                      (D)
COMMON STOCK                          2/01/2001   J        3,174  A                  21,746            D
COMMON STOCK                          2/01/2001   J        3,174  D                   3,274            I
COMMON STOCK                          2/06/2001   J        1,000  D   $26.00








Reminder:  Report on a separate line for each class of securities beneficially
           owned directly or indirectly.
*  If the form is filed by more than one reporting person, see Instruction 4(b)(v).                                (Over)
                                                                                                          SEC 1474 (7-96)

FORM 4 (CONTINUED) TABLE II DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED (E.G., puts, calls, warrants, options, convertible securities) 1.Title 2.Conver- 3.Trans- 4.Trans- 5.Number 6.Date Ex- 7.Title 8.Price of 9.Number of 10.Owner- 11.Nature of of Deriv- sion or action action of Deriv- ercisable and Amount Derivative derivative ship Indirect ative Secu- Exercise Date Code ative Secu- and Ex- of Under- Security Securities Form Benefi- rity of De- (Month/ (Instr. rities Ac- piration lying Secu- (Instr. 5) Beneficially of cial (Instr. 3) rivative Day/ 8) quired (A) Date rities Owned at End Deri- Owner- Security Year) or Dis- (Month/ (Instr. 3 of Month vative ship posed of Day/ and 4) (Instr. 4) Secu- (Instr.4) (D)(Instr. Year) rity 3, 4 and Direct 5) (D) or Indirect (I) NO TRANSACTIONS IN CURRENT PERIOD. 39,675 I Stock Option Plan Code V (A) (D) Date Expira- Title Amount or Exer- tion Number of cisable Date Shares Explanation of Responses: Vesting of a portion of the 15,870 shares acquired on February 1, 1997 pursuant to the Recognition and Retention Plan for Outside Directors, Officers and Employees of Dime Community Bancshares, Inc. Sale of a portion of the 3,174 shares acquired on February 1, 2001 pursuant to the Recognition and Retention Plan for Outside Directors, Officers and Employees of Dime Community Bancshares, Inc. Sale transaction incurred solely to fund income tax liability related to these acquired shares. **Intentional misstatements or omissions of facts constitute Federal Criminal Violations. SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). /s/STEVEN D. COHN MARCH 1, 2001 ------------------------- ------------------ **Signature of Reporting Date Note: File three copies of Person this Form, one of which must be By: Steven D. Cohn manually signed. If space provided is insufficient, SEE Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. Page 2 SEC 1474 (7-96)