SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported): December 30, 1998
DIME COMMUNITY BANCSHARES, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-27782 11-3297463
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(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification No.)
incorporation)
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)
<PAGE>
ITEMS 1 THROUGH 4, 6, 8 & 9. NOT APPLICABLE.
ITEM 5. OTHER EVENTS.
On December 30, 1998, Dime Community Bancshares, Inc. ("DCB") and its
wholly owned subsidiary, The Dime Savings Bank of Williamsburgh ("DSBW"),
received approval from the Office of Thrift Supervision (the "OTS") for the
merger of Financial Bancorp, Inc. ("FIBC") with and into DCB and the
concurrent merger of FIBC's wholly owned subsidiary, Financial Federal
Savings Bank, with and into DSBW.
DCB publicly announced receipt of the OTS' approval in a press release
dated December 31, 1998, a copy of which is attached hereto as Exhibit 99
and is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Financial statements of business acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
(c) Exhibits. The following Exhibits are filed as part of this report:
EXHIBIT NO. DESCRIPTION
99 Press Release issued December 31, 1998.
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<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
DIME COMMUNITY BANCSHARES, INC.
BY: /s/ KENNETH J. MAHON
___________________________________________
Kenneth J. Mahon
Executive Vice President and Chief Financial
Officer
Dated: December 31, 1998
<PAGE>
EXHIBIT INDEX
EXHIBIT DESCRIPTION
99 Press Release issued December 31, 1998.
-4-
NEWS RELEASE
DIME COMMUNITY BANCSHARES, INC. RECEIVES OTS APPROVAL TO ACQUIRE FINANCIAL
BANCORP, INC. AND ITS WHOLLY OWNED SUBSIDIARY, FINANCIAL FEDERAL SAVINGS BANK
Brooklyn, NY, December 31, 1998. Dime Community Bancshares, Inc. (the
"Company") (NASDAQ: DCOM), the holding company for The Dime Savings Bank of
Williamsburgh (the "Bank"), has received approval from the Office of Thrift
Supervision ("OTS") to acquire Financial Bancorp, Inc. ("FIBC") (NASDAQ: FIBC),
the holding company for Financial Federal Savings Bank ("Financial Federal").
The acquisition, which was approved by FIBC's stockholders on December 18,
1998, is expected to be completed by the end of January, 1999.
Mr. Vincent F. Palagiano, Chairman and Chief Executive Officer of the Company
stated, "We look forward to completing the FIBC acquisition, which we are
confident will strengthen our current banking franchise, enhance shareholder
value and provide long-term benefits for our shareholders, customers and,
particularly, the communities which the Bank and Financial Federal both
currently serve."
Dime Community Bancshares, Inc., is the holding company for The Dime Savings
Bank of Williamsburgh, a community-oriented financial institution providing
financial services and loans for housing within its market areas. The Bank
maintains its headquarters in the Williamsburgh section of the borough of
Brooklyn, and thirteen additional offices in the boroughs of Brooklyn, Queens,
and The Bronx, and in Nassau County. The Bank's deposits are insured up to the
maximum allowable amount by the Federal Deposit Insurance Corporation. More
information on the Company and Bank can be found on the Company's Internet
website at WWW.DIMEWILL.COM.
Contact: Kenneth A. Ceonzo - VICE PRESIDENT AND DIRECTOR OF INVESTOR RELATIONS
(718) 782-6200 extension 279
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