Dime Community Bancshares, Inc. Announces Retirement of Michael P. Devine from Board of Directors
Dime Community Bancshares (NASDAQ: DCOM) announced that Michael P. Devine will retire from the Board of Directors before the next annual shareholders meeting. Devine's career with Dime spans over 40 years, beginning in 1971 at The Dime Savings Bank of Williamsburgh. Throughout his tenure, he served as President, Chief Operating Officer, Director, and Vice Chairman.
Devine played a important role in the company's transition from a mutual to a stock-owned bank in 1996 and continued serving as director following the company's merger of equals transaction in 2021. Chairman Kenneth J. Mahon praised Devine's contributions, highlighting his progression from auditor to executive leadership and his valuable counsel to senior officers.
Dime Community Bancshares (NASDAQ: DCOM) ha annunciato che Michael P. Devine si dimetterà dal Consiglio di Amministrazione prima della prossima assemblea annuale degli azionisti. La carriera di Devine con Dime dura oltre 40 anni, iniziando nel 1971 presso The Dime Savings Bank of Williamsburgh. Durante il suo mandato, ha ricoperto ruoli come Presidente, Direttore Operativo, Direttore e Vice Presidente.
Devine ha avuto un ruolo importante nella transizione della società da una banca mutualistica a una banca a capitale azionario nel 1996 e ha continuato a servire come direttore dopo la fusione paritetica della società avvenuta nel 2021. Il Presidente Kenneth J. Mahon ha elogiato i contributi di Devine, mettendo in evidenza la sua evoluzione da revisore a leadership esecutiva e il suo prezioso consiglio ai dirigenti senior.
Dime Community Bancshares (NASDAQ: DCOM) anunció que Michael P. Devine se retirará de la Junta Directiva antes de la próxima reunión anual de accionistas. La carrera de Devine en Dime se extiende por más de 40 años, comenzando en 1971 en The Dime Savings Bank of Williamsburgh. A lo largo de su mandato, ocupó cargos como Presidente, Director de Operaciones, Director y Vicepresidente.
Devine desempeñó un papel importante en la transición de la empresa de un banco mutual a un banco de capital en acciones en 1996 y continuó sirviendo como director tras la fusión de iguales de la compañía en 2021. El Presidente Kenneth J. Mahon alabó las contribuciones de Devine, destacando su progreso de auditor a liderazgo ejecutivo y su valioso consejo a los altos dirigentes.
Dime Community Bancshares (NASDAQ: DCOM)는 Michael P. Devine이 다음 연례 주주 총회 전에 이사회에서 은퇴할 것이라고 발표했습니다. Devine의 Dime에서의 경력은 1971년 Williamsburgh의 The Dime Savings Bank에서 시작하여 40년이 넘습니다. 그의 재임 기간 동안 그는 회장, 최고 운영 책임자, 이사 및 부회장을 역임했습니다.
Devine은 1996년 회사가 상장 은행으로 전환하는 데 중요한 역할을 했으며, 2021년 동등한 합병 후에도 이사로 계속 재직했습니다. 의장 Kenneth J. Mahon은 Devine의 기여를 칭찬하며, 감사에서 경영진 리더십으로의 발전과 고위 임원들에게 귀중한 조언을 강조했습니다.
Dime Community Bancshares (NASDAQ: DCOM) a annoncé que Michael P. Devine se retirera du Conseil d'Administration avant la prochaine assemblée générale annuelle des actionnaires. La carrière de Devine chez Dime s'étend sur plus de 40 ans, commençant en 1971 à The Dime Savings Bank of Williamsburgh. Tout au long de son mandat, il a occupé les postes de Président, Directeur Général, Administrateur et Vice-Président.
Devine a joué un rôle important dans la transition de l'entreprise d'une banque mutualiste à une banque à capitaux propres en 1996 et a continué à servir en tant qu'administrateur après la fusion équitable de l'entreprise en 2021. Le Président Kenneth J. Mahon a salué les contributions de Devine, soulignant sa progression de vérificateur à dirigeant et ses conseils précieux aux hauts responsables.
Dime Community Bancshares (NASDAQ: DCOM) gab bekannt, dass Michael P. Devine vor der nächsten jährlichen Hauptversammlung der Aktionäre aus dem Vorstand ausscheiden wird. Devines Karriere bei Dime erstreckt sich über mehr als 40 Jahre, beginnend 1971 bei The Dime Savings Bank of Williamsburgh. Während seiner Amtszeit hatte er Positionen als Präsident, Chief Operating Officer, Direktor und Vizevorsitzender inne.
Devine spielte eine wichtige Rolle beim Übergang des Unternehmens von einer Genossenschaftsbank zu einer Aktienbank im Jahr 1996 und diente weiterhin als Direktor nach der Fusion auf Augenhöhe des Unternehmens im Jahr 2021. Vorsitzender Kenneth J. Mahon lobte Devines Beiträge und hob seinen Aufstieg vom Prüfer zur Führungsebene und seinen wertvollen Rat für die leitenden Angestellten hervor.
- 40+ years of institutional knowledge and leadership experience contributed to company's growth
- Successful transition from mutual to stock-owned bank structure in 1996
- Smooth leadership continuity through 2021 merger of equals
- Loss of experienced board member with deep institutional knowledge
HAUPPAUGE, N.Y., Dec. 20, 2024 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”) announced today that Michael P. Devine provided notification to the Company that, after a 40-plus year association with Dime, he intends to retire from the Board of Directors ahead of the next annual shareholders meeting.
Mr. Devine began his career with The Dime Savings Bank of Williamsburgh (“Dime Savings Bank”) in 1971. Since then, Mr. Devine served in numerous capacities within Dime Savings Bank, most notably as President and Chief Operating Officer, and later as Director and Vice Chairman. Following the closing of the Company’s merger of equals transaction in 2021, Mr. Devine maintained his director role at the pro forma Company.
“Mike began his career with the Dime Savings Bank as an auditor in 1971, and within only a few years advanced to the executive suite,” said Chairman, Kenneth J. Mahon, on behalf of the Company's and Bank's Boards of Directors. “He was a valuable counselor to all the senior officers around him. His leadership as an executive and as a director helped guide us through the conversion from a mutual to a stock-owned bank in 1996, to today’s full service commercial bank. Our directors’ table will miss his insight and experience, and we wish Mike many happy and healthy years ahead.”
Mr. Devine stated, “It has been my privilege to serve Dime as part of a team that has over a period of years, systematically improved the Company’s operations. This has resulted in top notch service for business clients as well as retail customers and the Company is well positioned for future growth. As I conclude my service, I leave with the knowledge that the board, management, and employees comprise an effective, high quality group, many of whom will remain close personal friends and colleagues.”
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
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
FAQ
When will Michael P. Devine retire from Dime Community Bancshares (DCOM) board?
How long did Michael P. Devine work at Dime Community Bancshares (DCOM)?
What positions did Michael P. Devine hold at DCOM?
What major transitions did Michael P. Devine oversee at DCOM?
