Business: Dime Community Bancshares, Inc. 9.000% Fixed to Floating Rate Subordinated Notes due 2034 redeemable at the issuer's option on or after 07/15/2029 at $25 per note plus accrued and unpaid interest, and maturing 07/15/2034. <p> Interest distributions of 9.0% per annum will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date that will be 1/1, 4/1, 7/1 & 10/1 (NOTE: the ex-dividend date is the record date). From 7/15/2029 dividends will be paid at a floating rate of the Three-Month SOFR plus 4.951% per annum . In the event that three-month SOFR is less than zero, three-month SOFR shall be deemed to be zero. <p> Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. <p> Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. <p> This security is possibly subject to an early call as a result of the occurrence of certain tax or corporate events (see the prospectus for further information). <p> This security was not rated by Moody’s or S&P at the time of its IPO. This security was rated as BBB- Kroll Bond Rating Agency at the date of its IPO. The Notes are unsecured, subordinated obligations of the company and will rank junior to the company's senior debt, equally with all existing and future unsecured, subordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.