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Section 1: 8-K (8-K)


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): January 17, 2019



DIME COMMUNITY BANCSHARES, INC.
(Exact name of the registrant as specified in its charter)



Delaware
000-27782
11-3297463
(State or other jurisdiction of
incorporation or organization)
(Commission File Number)
(IRS Employer
Identification No.)

300 Cadman Plaza West, 8th Floor

Brooklyn, New York
11201
(Address of principal executive offices)
(Zip Code)


(718) 782-6200
(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:

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)

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 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 17, 2019, Dime Community Bancshares, Inc. (the “Company”) announced that Avinash Reddy was named Executive Vice President and Chief Financial Officer of the Company and its subsidiary, Dime Community Bank (the “Bank”). Mr. Reddy, age 34, previously served as Senior Vice President, Head of Corporate Development and Treasurer at the Company, beginning in 2017. Prior to joining the Company, Mr. Reddy worked in investment banking for 12 years. Mr. Reddy is not a party to any transaction with the Company or Bank that would require disclosure under Item 404(a) of Regulation S-K.

On January 17, 2019 the Company also announced that Leslie Veluswamy was named Chief Accounting Officer of the Company and the Bank. Ms. Veluswamy, age 34, previously served as Senior Vice President and Director of Financial Reporting at the Company, beginning in 2017. Prior to joining the Company, Ms. Veluswamy, a certified public accountant, worked as Accounting Manager at a large public accounting firm for seven years and as Assistant Controller at an insurance broker for two years. Ms. Veluswamy is not a party to any transaction with the Company or Bank that would require disclosure under Item 404(a) of Regulation S-K.

James L. Rizzo will remain as Senior Vice President and Comptroller of the Company and the Bank.

A copy of the press release announcing Mr. Reddy’s and Ms. Veluswamy’s appointments is attached to this Current Report on Form 8-K as Exhibit 99.1.

Item 9.01
Financial Statements and Exhibits.


(d)
Exhibits

Exhibit Description


99.1
Dime Community Bancshares, Inc. Press Release, dated January 17, 2019.


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: January 17, 2019
By:
/s/ Patricia M. Schaubeck
   
Patricia M. Schaubeck
   
Executive Vice President and General Counsel



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Section 2: EX-99.1 (EXHIBIT 99.1)


Exhibit 99.1

Dime Community Bancshares, Inc. Announces Senior Finance Promotions

BROOKLYN, January 17, 2019 (GLOBE NEWSWIRE) — Dime Community Bancshares, Inc. ("the Company" or “Dime”) (NASDAQ: DCOM) today announced that Avinash “Avi” Reddy was named Executive Vice President and Chief Financial Officer (“CFO”) of the Company and its subsidiary, Dime Community Bank (the “Bank”), and Leslie Veluswamy was named Chief Accounting Officer of the Company and Bank.

Mr. Reddy previously served as Senior Vice President, Head of Corporate Development and Treasurer at the Company, beginning in 2017. Prior to joining the Company, Mr. Reddy held several investment banking roles with firms including Evercore Partners, Barclays Capital and
Lehman Brothers giving him broad experience in corporate finance, capital markets and mergers and acquisitions.

Ms. Veluswamy previously served as Senior Vice President and Director of Financial Reporting at the Company, beginning in 2017. Ms. Veluswamy, a certified public accountant, has extensive accounting and managerial experience including working as Accounting Manager at the public accounting firm of Crowe LLP for seven years and as Assistant Controller at the insurance broker Crystal and Company for two years.

Kenneth J. Mahon, President and CEO of the Company, said, “With these promotions, we will consolidate leadership in the Finance Division under Avi who will be one of my direct reports. Having a strong Finance team is important as we continue our transformation towards a community commercial bank. Both Avi and Leslie have earned the respect of their colleagues and of our Bank’s directors for their strategic insight, judgment and demeanor.”

ABOUT DIME COMMUNITY BANCSHARES, INC.
The Company had $6.29 billion in consolidated assets as of September 30, 2018. The bank was founded in 1864, is headquartered in Brooklyn, New York, and currently has twenty-nine branches located throughout Brooklyn, Queens, the Bronx, Nassau County and Suffolk County, New York. More information on the Company and the bank can be found on Dime's website at www.dime.com.

Contact: Avinash Reddy
Executive Vice President – Chief Financial Officer
718-782-6200 extension 5909



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