Dime Community Bancshares Inc. Announces Retirement of Marcia Z. Hefter from Board of Directors

Rhea-AI Summary

Marcia Z. Hefter retires from Dime Community Bancshares, Inc. Board of Directors. Her long-standing service and leadership contributed to the company's growth. Dime now has 59 branches from Montauk to Manhattan.

HAUPPAUGE, N.Y., Sept. 28, 2023 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”) announced today that Marcia Z. Hefter is retiring from the Board of Directors, effective September 28, 2023.

Ms. Hefter began her career with the Company and the Bank as a Director of Bridgehampton National Bank (predecessor of BNB Bank) in 1989 and served as the Board Chairwoman from 2008 to 2021. Ms. Hefter’s background as a lawyer and long-standing service as a director provided the Board of Directors with a unique perspective and counsel in its oversight of the Company. Following the closing of the Company’s merger of equals transaction in 2021, Ms. Hefter was appointed Lead Director.

“Marcia’s contribution and passion for our company has been unmatched during her tenure since joining the board over three decades ago,” said Lead Director Dennis A. Suskind of Dime. “She has led the institution through unprecedented growth since joining Bridge Bancorp in 1989, when we were $94.4 million in assets. She has been integral in the transformation from what was an East End Bank to a Community Bank spanning Montauk to Manhattan, through the merger, and our growth to what we are today, 59 branches in locations from Montauk to Manhattan. In her role as Chairperson and as Lead Director, she has provided great counsel and leadership to the entire board. On behalf of the entire Board of Directors, I thank her for her dedication and service and wish her well as she embarks in new challenges.”

Executive Chairman Mahon commented, “Director Hefter brought a professional demeanor to our board table and provided thoughtful input to our deliberations as we merged our two legacy institutions over the past two years. She will be missed by her fellow directors, and we wish her all health and happiness in the future.”

Ms. Hefter stated, “I am privileged to have participated in the historic growth and success of Bridgehampton National Bank into its merger with Dime Community Bank. I leave the Board of Directors with the knowledge that the future of Dime is robust and in excellent hands.”

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 $13.8 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.