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Dime Announces Plans to Enter Lakewood, New Jersey

1. DCOM plans to expand into Lakewood, New Jersey. 2. A new full-service branch will be constructed by early 2026. 3. Expansion targets the Orthodox Jewish community for private banking growth. 4. Dime Community Bank holds a leading deposit market share on Long Island. 5. Construction aligns with upcoming regulatory approval processes.

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FAQ

Why Bullish?

The upcoming expansion reflects growth potential, similar to DCOM's past successful branch openings that positively impacted its stock price.

How important is it?

This expansion aligns with DCOM's strategy to grow its market presence and reflects confidence in long-term business prospects.

Why Long Term?

The expansion will take time to fully realize benefits, with operations beginning in early 2026.

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CUBICUBNPNCKEY
April 17, 2025 16:15 ET  | Source: Dime Community Bancshares, Inc. HAUPPAUGE, N.Y., April 17, 2025 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (Nasdaq: DCOM) (the “Company” or “Dime”), the parent company of Dime Community Bank (the “Bank”), today announced that its Board of Directors has approved a plan to expand into Lakewood, New Jersey.  A location for a full-service, free-standing branch has been identified. Management expects construction of the branch to take place in the second half of 2025, simultaneous with the regulatory approval process. The current plan is for a branch opening in early 2026. Stuart H. Lubow, President and CEO, commented, "Our planned expansion into Lakewood builds upon and solidifies Dime's long-standing familiarity and commitment to the Orthodox Jewish community. It continues the tremendous growth of our Private and Commercial Bank and will allow us to service clients with operations in the area." 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 $14 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 ReddySenior Executive Vice President – Chief Financial OfficerPhone: 718-782-6200; Ext. 5909Email: 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. FORWARD-LOOKING STATEMENTS Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated.

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