On June 13, 2017, Dime Community Bancshares, Inc., Brooklyn, New York, the holding company for Dime Community Bank, completed an underwritten public offering of $115.0 million principal amount of fixed-to-floating rate subordinated notes due 2027 (the “Notes”). Dime Community Bancshares plans to use the proceeds from the offering to redeem its outstanding trust preferred securities and for general corporate purposes.
Luse Gorman served as legal counsel to Dime Community Bancshares in the offering and in connection with the redemption of its trust preferred securities. The Luse Gorman team included Lawrence Spaccasi, John Gorman, Marc Levy and Elizabeth Cook.
Dime Community Bancshares has approximately $6.10 billion in total assets and operates 27 full-service banking offices in the New York City boroughs of Brooklyn, Queens and the Bronx, and Nassau County, New York.