BROOKLYN, Dec. 18, 2018 (GLOBE NEWSWIRE) -- Kenneth J. Mahon, President and Chief Executive Officer of Dime Community
Bancshares, Inc. (the “Company” or “Dime”) (NASDAQ:DCOM), the parent
company of Dime Community Bank (the “bank”), announced that the bank has been designated a “Preferred Lender” by the U.S. Small
Business Administration ("SBA").
Under the Preferred Lenders Program (“PLP”), SBA lenders such as Dime are delegated loan approval as well as closing and
servicing authority, enabling them to make loan decisions more rapidly. To earn the PLP designation, lenders must establish a track
record and display a thorough understanding of SBA lending policies and procedures.
According to Mr. Mahon, "The receipt of PLP designation continues our journey towards becoming a successful community commercial
bank. Earning this designation reflects our dedication to serving small businesses, which are essential to the economic vibrancy of
our local communities."
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
Senior Vice President – Corporate Development and Treasurer
718-782-6200 extension 5909
