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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): March 12, 2024

DIME COMMUNITY BANCSHARES, INC.

(Exact name of the registrant as specified in its charter)

New York

001-34096

11-2934195

(State or other jurisdiction of

incorporation or organization)

(Commission File Number)

(IRS Employer

Identification No.)

898 Veterans Memorial Highway, Suite 560

 

Hauppauge, New York

11788

(Address of principal executive offices)

(Zip Code)

(631) 537-1000

(Registrant’s telephone number)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4c)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

    

Trading

Symbol(s)

    

Name of each exchange on which registered

Common Stock, $0.01 Par Value

DCOM

The Nasdaq Stock Market, LLC

Preferred Stock, Series A, $0.01 Par Value

DCOMP

The Nasdaq Stock Market, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 8.01      Other Events

On March 12, 2024, Dime Community Bancshares, Inc. (the “Company”) published a March 2024 Investor Presentation to provide information on the expansion of Dime Community Bank’s private and commercial bank. A copy of the presentation is available on the Company’s website at www.dime.com by clicking “Investor Relations” and selecting “Presentations” from the “Events & Presentations” menu.

On March 12, 2024, the Company also announced the launch of a National Deposits Group. A copy of the press release announcing the National Deposits Group is attached to this Current Report on Form 8-K as Exhibit 99.1.

The information disclosed in this Item 8.01 is being furnished and shall not be deemed as “filed” for purposes of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”) or otherwise subject to the liabilities under that section, nor shall it be deemed incorporated by reference in any filings under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01      Financial Statements and Exhibits

(d)Exhibits

99.1

Press Release of the Registrant, dated March 12, 2024

104

Cover Page Interactive Data File (formatted as inline XBRL)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

Dime Community Bancshares, Inc.

(Registrant)

DATE:  March 12, 2024

/s/ AVINASH REDDY

Avinash Reddy

Senior Executive Vice President & Chief Financial Officer

(Principal Financial Officer)

Page 1

Exhibit 99.1

Graphic

Dime Announces Significant Expansion of Private and Commercial Bank With Launch of National Deposits Group

Industry Veteran Martin Ball to join Dime and Lead National Deposits Group

HAUPPAUGE, N.Y., March 12, 2024 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (the “Company” or “Dime”) (NASDAQ: DCOM), the parent company of Dime Community Bank (the “Bank”), continues to execute its growth plan and announced today the launch of a National Deposits Group.

The National Deposits Group will expand Dime’s capabilities into several new deposit-rich verticals including: death care services, escrow servicing, family offices, fund banking, hedge funds, insurance, medical billing, private equity, software, and third party payment processors, while also focusing on several other industries where Dime has a presence. The team has a long history of working together and will focus on gathering low-cost relationship-based deposits.

The new National Deposits Group will consist of:

Martin Ball – Head of National Deposits. Mr. Ball was previously Head of National Deposits at Valley Bank and prior to that an EVP of Bank OZK
Glen Carballo – Director of National Deposits. Mr. Carballo will be responsible for business development
Gail Balmaceda and Christian Sanchez will handle day-to-day onboarding and ongoing relationship management

“We chose to move to Dime for its strong vision of marrying a single point of contact approach with best-in-class technology. This combination will allow us to service deposit-rich niches with enhanced offerings including a streamlined treasury management offering, enhanced fraud prevention tools, and a state-of-the-art escrow and sub-accounting system. We look forward to attracting and servicing customers in targeted verticals with a model that is focused on expertise, efficiency and execution,” said Martin Ball.

Commenting on the National Deposits Group, Stuart H. Lubow, President and Chief Executive Officer of Dime, said, “Martin and his team have a proven track record of building deposit-rich verticals and we are incredibly excited to attract a banker of his caliber. With the launch of the National Deposits Group, our Private and Commercial Bank will have another growth engine in the years ahead.”

ABOUT DIME COMMUNITY BANCSHARES, INC.

Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over $13.6 billion in assets and the number one deposit market share among community banks on Greater Long Island (1).

Dime Community Bancshares, Inc.
Investor Relations Contact:
Avinash Reddy
Senior Executive Vice President – Chief Financial Officer
Phone: 718-782-6200; Ext. 5909
Email: avinash.reddy@dime.com

 (¹) Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets.