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):  June 29, 2016

DIME COMMUNITY BANCSHARES, INC.

(Exact name of registrant as specified in its charter)

Delaware	0-27782	11-3297463
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

209 Havemeyer Street, Brooklyn, New York   11211

(Address of principal executive offices, including zip code)

Registrant's telephone number, including area code:           (718) 782-6200

None

(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 240.14d-2(b))

☐ 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-4(c))

Item 5.02. Appointment of New Chief Executive Officer

On June 29, 2016, the Registrant and its wholly owned subsidiary, The Dime Savings Bank of Williamsburgh (the “Bank”) announced the appointment of Kenneth J. Mahon as the President and Chief Executive Officer of both the Registrant and the Bank effective immediately upon the retirement of current Chief Executive Officer Vincent F. Palagiano on December 31, 2016.  Mr. Mahon, age 65, was named President of the Registrant and Bank in January 2016 after serving as Chief Operating Officer of the Registrant and Bank since 2014. Mr. Mahon has been a director of the Bank since 1998 and of the Registrant since 2002, and will continue to serve in this capacity subsequent to his promotion to President and Chief Executive Officer.

A copy of the news release announcing Mahon's appointment as Chief Executive Officer is included as Exhibit 99.1 to this report.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.

99.1 Press release of the Registrant, dated June 29, 2016, announcing the appointment of Kenneth J. Mahon as Chief Executive Officer.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Form 8-K Report to be signed on its behalf by the undersigned hereunto duly authorized.

	DIME COMMUNITY BANCSHARES, INC.
By:	/s/ MICHAEL PUCELLA
	Michael Pucella
	Executive Vice President and Chief Accounting Officer (Principal Financial Officer)
Dated:  June 30, 2016

INDEX TO EXHIBITS

Exhibit Number

99.1 Press release of the Registrant, dated June 29, 2016, announcing the appointment of Kenneth J. Mahon as President and Chief Executive Officer.

EX-99.1

Exhibit 99.1

Dime Community Bancshares, Inc. Announces CEO Succession Plan

Kenneth J. Mahon to become CEO on January 1, 2017 as Vincent F. Palagiano remains Chairman; succession process ensures continuity and support for execution of key initiatives

Brooklyn, NY – June 29, 2016 - Dime Community Bancshares, Inc. (the “Company”) (NASDAQ: DCOM), the parent company of The Dime Savings Bank of Williamsburgh (the “bank” or “Dime”), announced today that effective January 1, 2017, Kenneth J. Mahon, currently President and Chief Operating Officer, will assume the role of Chief Executive Officer, succeeding Vincent F. Palagiano, who served as Chief Executive Officer of the bank since 1989. Mr. Palagiano will remain as Chairman of the boards of both the Company and bank and will work closely with Mr. Mahon as President and CEO starting in 2017.

Lead Director George L. Clark, Jr., on behalf of the Company’s and bank’s Boards of Directors, said, “Given Dime’s long-term perspective and focus on talent development, Ken’s appointment reflects the Boards’ thoughtful approach to succession planning. Ken has demonstrated proven leadership skills over his 36-year career with the bank, and his business vision and in-depth knowledge of the organization make him uniquely capable and qualified to lead Dime in the years ahead. We are confident that under his leadership, and with the support of our employees, the Company will continue to evolve and grow.”

Kenneth J. Mahon was named President of the Company and bank in January 2016 after serving as Chief Operating Officer since 2014, and has been a director of the bank since 1998 and of the Company since 2002. Mr. Mahon joined the bank in 1980, and has served in numerous capacities with the Company and bank, most notably Chief Financial Officer.

Mr. Mahon has been instrumental in leading the strategic plan to offer premier community banking to Dime’s diverse customer base, enhance the bank’s retail banking presence both locally and on the internet, and remain both technologically competitive and cost efficient.

Kenneth J. Mahon said, “I am honored for the opportunity to lead this iconic company, whose legacy as a premier community bank started over 150 years ago.  True to our roots, we will continue to remain focused on our customers’ needs, while continuing to deliver exceptional shareholder value.”

Mr. Mahon continued, “Dime has consistently been one of the highest performing thrifts in the nation for the past 18 years, and we plan to continue to be so. While a big part of my task is to ensure we remain committed to our sustainable competitive advantages of low operating costs and sterling credit quality, we are bringing a renewed focus on customer-facing engagement, to appeal to more customers and small business owners in our communities, and thus build market share. Because of the knowledge and energy of our Dime bankers, we offer qualities that a community bank can bring to markets increasingly occupied by regional and national franchises, to be the local coffee shop that thrives alongside Starbucks.”

“Dime’s sector-leading operating expense model gives us a clear competitive advantage, one which we will not cede while we grow the bank.  But clearly, there is significant opportunity for the Company and the bank, and we plan to capitalize on it.”

ABOUT DIME COMMUNITY BANCSHARES, INC.

The Company (NASDAQ: DCOM) had $5.52 billion in consolidated assets as of March 31, 2016, and is the parent company of the bank. The bank was founded in 1864, is headquartered in Brooklyn, New York, and currently has twenty-five branches located throughout Brooklyn, Queens, the Bronx and Nassau County, New York. More information on the Company and the bank can be found on Dime's website at www.dime.com.

Contact: Anthony Rose, Executive Vice President and Chief Administrative Officer. 718-782-6200 extension 8260