Dime Community Bancshares Announces Retirement of George L. Clark, Jr. from Board of Directors
December 23 2016 - 11:00AM
Dime Community Bancshares, Inc. (NASDAQ:DCOM) (the "Company" or
"Dime"), the parent company of Dime Community Bank (the "bank"),
announced the retirement of George L. Clark, Jr. from the Board of
Directors of the Company and bank and the unanimous election of
Kathleen M. Nelson as Lead Director of the Company and the bank,
effective December 31, 2016.
Mr. Clark's relationship with Dime dates back to 1980 when he
was elected Trustee of the bank (at the time, a mutual savings
bank) and he has served as a Director of the Company since its
formation in 1995.
"We owe George a huge debt of gratitude for his service and
dedication to the Company. On behalf of the board and all employees
of Dime, I want to thank him for being a leader and a friend," said
Vincent F. Palagiano, Chairman of the Board and Chief Executive
Officer of both the Company and bank. "George has made a tremendous
contribution to Dime and it has been an honor and a privilege to
have benefited from his experience and support over the past 36
years."
Mr. Clark is the patriarch of the George L. Clark Inc. real
estate agency located in the Bensonhurst section of Brooklyn, and
also served as the head of the Republican Party in New York State
before and during the administration of Ronald Reagan in the
1980's.
Kathleen Nelson was originally elected to the Board of the
Company and the bank in 2011. Ms. Nelson holds a Bachelor of
Science degree in real estate from Indiana University, and is a
graduate of both the University of Chicago Executive Management
Program and the Aspen Institute Leadership Seminar. Ms. Nelson is a
co-founder and currently serves as Managing Principal of Bay Hollow
Associates, a commercial real estate consulting firm, is Founder
and President of KMN Associates LLC, and also serves on the Board
of Directors of CBL & Associates Properties, Inc., as well as
Apartment Investment and Management Co., a publicly traded owner
and manager of rental apartments.
"The board is fortunate to have Kathleen as the Lead Director,"
said Mr. Palagiano. "With her current experience on the board, and
her strong contribution to Dime's success, Kathleen is the right
person to serve in a lead capacity to coordinate the activities of
the other independent directors."
ABOUT DIME COMMUNITY BANCSHARES, INC.The
Company had $5.82 billion in consolidated assets as of September
30, 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 5260.
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