Dime Community Bancshares Announces Successful Completion of Additional Notes Offering

Dime Community Bancshares, Inc. (NASDAQ: DCOM), the parent company of Dime Community Bank, has announced the successful completion of its public offering of 9.000% Fixed-to-Floating Rate Subordinated Notes due 2034. The underwriters of the offering exercised their overallotment option in full, purchasing an additional $9,750,000 aggregate principal amount of Notes. This brings the total gross proceeds from the offering to $74,750,000, before discounts and estimated offering expenses.

Raymond James & Associates, Inc. and Keefe, Bruyette & Woods, A Stifel Company acted as joint book-running managers for the offering, while D.A. Davidson & Co. and Piper Sandler served as co-managers. Squire Patton Boggs (US) LLP acted as legal counsel to the Company, and Luse Gorman, PC acted as legal counsel to the underwriters.

The Notes, listed on the Nasdaq Stock Market under the trading symbol “DCOMG,” will qualify as Tier 2 capital for regulatory purposes. The net proceeds from the offering will be used for general corporate purposes, including supporting organic growth initiatives and bolstering the Company and Bank’s regulatory capital ratios.

Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over $13.5 billion in assets. The Bank holds the number one deposit market share among community banks on Greater Long Island, encompassing Kings, Queens, Nassau, and Suffolk counties, for community banks with less than $20 billion in assets.

The completion of the additional Notes offering highlights the Company’s strong position in the market and its commitment to supporting its growth initiatives. With the successful exercise of the overallotment option, Dime Community Bancshares, Inc. has further strengthened its capital base, enabling it to continue providing exceptional banking services to its customers.

For more information, please contact:
Name: Avinash Reddy
Email: avinash.reddy@dime.com
Phone: 718-782-6200; Ext. 5909

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