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):  July 17, 2001


                  DIME COMMUNITY BANCSHARES, INC.
            (Exact name of registrant as specified in its charter)



   Delaware                0-27782                   11-3297463

  (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 6.       NOT APPLICABLE.

ITEM 7.       FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.

              EXHIBIT NO.               DESCRIPTION

               99   Text of the conference call of Dime Community
                                   Bancshares, Inc. regarding the release
                                   of earnings for the three months and
                                   fiscal year ended June 30, 2001

ITEM 8.                  NOT APPLICABLE.

ITEM 9.       REGULATION FD DISCLOSURE.

     On July 17, 2001, Dime Community Bancshares, Inc. held a conference
call regarding the release of its earnings for the three months and
fiscal year ended June 30, 2001.  The text of this conference call is
attached as Exhibit 99.



<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: July 17, 2001



<PAGE>

                              EXHIBIT INDEX




EXHIBIT                  DESCRIPTION

               99   Text of the conference call of Dime Community
                                   Bancshares, Inc. regarding the release
                                   of earnings for the three months and
                                   fiscal year ended June 30, 2001




<PAGE>














                          EXHIBIT 99
<PAGE>
                                                     EXHIBIT 99

                          DIME COMMUNITY BANCSHARES

                   FOURTH QUARTER/YEAR-END CONFERENCE CALL

                                JULY 17, 2001



STEPHANIE PRINCE



Thank you and good morning everyone.  This morning Dime Community
Bancshares reported results for the fourth quarter and full year ended
June 30, 2001.  To discuss these results with you today are Vincent
Palagiano, Chairman and CEO, Michael Devine, President and COO, and
Kenneth Mahon, Chief Financial Officer.

Any  comments  made  in  this  call  by  management,  in response to your
questions,  or  as  part  of their prepared remarks may contain  forward-
looking  information.   Such   information   is   subject  to  risks  and
uncertainties as described in the Company's press release  and  in  other
filings with the SEC.

I'd now like to turn the call over to Vincent Palagiano.  Vincent?

VINCENT PALAGIANO

Thank you stephanie and thank you everyone for joining us this morning to
Review our fourth quarter and full year results.  As many of you know,
This is our first ever conference call with the investment community.  We
Think we have a great story to tell, and we hope we can excite you as
Much as we are excited about our results.  I will begin by reviewing the
Highlights of the quarter and year, and afterwards ken mahon will review
Some of the financial details.

We are pleased to report our fifth consecutive year of record earnings,
Highlighted by a strong fourth quarter.  Our core focus - multifamily
Lending and consumer banking - is a primary reason for our success.  We
Strongly believe that we serve our customers better than the other banks
In our markets, and our results reflect this.

For the fourth quarter ended june 30, our reported earnings increased 26%
To $7.1 million.  This compares to $5.6 million in the year-ago quarter.
Also for the quarter, earnings per diluted share increased 26% to $0.63
Compared to $0.50 per diluted share in the year-ago quarter.

Turning to the full year ended june 30, 2001, dime's reported earnings
Increased 13% to a record $25.2 million, compared to $22.4 million during
Fiscal 2000.  Earnings per diluted share increased 19% to a record $2.26,
Compared to $1.90 per diluted share during the previous fiscal year.

Total  assets at June 30, increased 8.8% to $2.7 billion compared to $2.5
billion  at  the  end  of last year. We have more than tripled the Bank's
total assets since our IPO  five  years  ago,  and  have  grown  EPS by a
compound annual rate of 27%.

Loan  originations  have  picked  up  again as the Fed has lowered rates.
During the quarter ended June 30, we originated  $153.0  million in total
real  estate  loans, primarily multifamily.  This is a 57% increase  over
the amount we originated  in  the same quarter last year.  The annualized
rate of growth on real estate loans  exceeded  18% during the most recent
quarter, and the average rate on new real estate  loans  was 7.21% during
that period.

We  are  also  still  seeing solid deposit growth.  Clearly, our  ongoing
deposit campaign is proving to be quite successful.  Our core deposits at
June 30, 2001 increased  approximately $77 million during the quarter, to
$737 million, compared to $660 million at March 31, 2001. This represents
a 46% annualized growth rate in core deposits.

In Total Deposits over the past year, we have seen the deposit volume per
branch increase from 68 million  dollars  to  79  million  dollars;  that
represents  a  17%  increase  in  deposits  without  opening a single new
branch.

Our credit quality continues be quite impressive as well.  Non-performing
loans are up just slightly from March, but actually down  31%  from  last
year,  and  represent  just over a TENTH of one percent of assets at June
30{th}.

Beginning last year, we placed a lot of emphasis on growing market share
In the 18 communities where our branches are located.  We also wanted to
Increase fee income by updating our products and services.

Since then, we have made reasonable investments in technology.  This has
Given us the ability to offer the same products as much larger banks.  We
Increased our customer base by over 12%, and our retail fee income by
Over 11%.

For example, this year we introduced mastercard's debit card program.
To-date we have activated over 18,000 debit cards.

We also gave our customers the ability to do business over the internet.
We call our new internet banking channel "dsbwdirect".  Balance
Inquiries, money transfer, and bill paying are now available to our
Customers online in real-time.  Combined with our telephone banking
Center and voice response system (both of which have been in place for
Over five years), we continue to offer state-of-the-art banking for our
Customers through any channel they choose.

I was very pleased with the design of the site, and i'd encourage you to
Visit the next time you're online, at www.dsbwdirect.com.


By the end of the year we will install software in which all customer
information and channel activity will be captured in a data warehouse,
which will be used to help our staff cross sell additional products to
our customers.

By focusing on what we know  best  -  multifamily  lending  and  consumer
banking  -  we  feel  we've  built  a  consistent  record of success.  As
evidenced  by  our solid results, it continues to be a  terrific  market.
And there is still  plenty  of  room for us to grow.  In the meantime, we
look forward to expanding our franchise and use our business model in new
markets when we find the right opportunities.

I'd now like to turn the call over to Kenneth Mahon.  Ken?

KENNETH MAHON

Thank you, Vinny, and thank you everyone for participating this morning.

As you've just heard, last year's results were outstanding.  The company
Was well on its way to double-digit earnings per share growth even before
The federal reserve began to lower rates; but we were aided greatly by
The drop in short term rates late in the fiscal year.

Turning first to the Operating Results,  Total  revenue  rose by 7% year-
over-year,  and  by  33%  on  a  linked-quarter basis.  We said  in  last
quarter's press release that we had  at  the  time $283 million of short-
term borrowings at 6.07% due to reprice in the  4{th}  quarter.  That re-
pricing was completed at an average rate of 4-1/4.

In  the  next  six months, there will be another 256 million  dollars  of
short-term borrowings  re-pricing,  the cost of which is expected to drop
by about 40 basis points.

Net Interest Margin for the 4{th} quarter  was  2.85%, which is unchanged
from  the  same  quarter last year.  However, we prepaid  some  long-term
borrowed funds at  a  premium  during the current quarter, which caused a
temporary drop in the Margin.  Excluding  that  transaction, Net Interest
Margin  for  the fourth quarter was 2.93%.  We expect  to  see  continued
margin expansion going forward.

Operating expenses continue to remain low.  Operating expenses, excluding
goodwill, were  1.2%  of  average  assets,  and rose by only about 3-1/2%
year-over-year.

As a result of our strict focus on cost control,  Dime  has an efficiency
ratio of 38%, as compared to our peer group average of 57%.

Turning next to the Balance Sheet,

With 407 million dollars of loan originations last year Dime  experienced
loan  portfolio  growth  of  over  14%,  and  now has a $1.9 billion loan
portfolio.  New loans originated last year had  an  average rate of 7-3/4
percent.

If  you've been following the Company since its IPO, you'll  notice  that
last  year for the first time we made real progress in raising deposits -
other than  through  acquisition.   In  the  past,  we  mostly  relied on
wholesale borrowings for our growth instead of retail deposits.

But  this year, new deposits funded 95% of the Company's growth.   Assets
grew by 9.3%, or $219 million, while deposits grew by $209 million.

This shift  in  funding  is  going to continue to have long-term positive
benefits for net interest margin,  because  over  the  long-term,  retail
deposits tend to have a lower cost than wholesale borrowed funds.

Non-performing  loans totaled only $3.1 million at June 30, 2001, similar
to the third quarter,  but  $1.4  million  below the level of a year ago.
Non-performing assets represented 0.13% of total  assets  and  loan  loss
reserves were 506% of total non-performing loans.

I'd like to make two other points before we break for questions.

First,  because  this  Company  made two large thrift acquisitions in the
last five years using the purchase  method  of  accounting,  Dime's `cash
earnings' are far larger than its `reported earnings'.  Reported earnings
were 25.2 million dollars for the year, but cash earnings were  almost 8-
  1/2   million  dollars  higher,  at 33.7 million.  In other words, cash
earnings were 34% higher than reported earnings, increasing tangible book
value, and representing a 23% return on tangible equity.

And second, along those lines, as you may have read in our press release,
that the way we calculate earnings is  about to change as a result of the
Business Combination rules adopted by the  Financial Accounting Standards
Board.

Our feeling is that this reporting change will  help investors accurately
identify the real earning power of Dime Community Bancshares.

Under the new guidelines, we expect our reported  earnings per share will
rise  in  a  range of 8 to 10 cents a quarter beginning  with  the  first
fiscal quarter  of  the year, September 2001 (that of course excludes any
adjustments  that  may  be  required  from  time  to  time  for  possible
impairment of Goodwill).  In conjunction with adopting the new accounting
guidelines, we now expect to report earnings of approximately 70 cents to
72 cents per diluted  share for the first quarter ended September 30{th},
barring any material changes in interest rates or credit conditions.

Finally, as we look ahead to the full fiscal year of 2002, we anticipate
That market conditions will remain favorable, and we're anticipating
Continued success from our deposit marketing programs.

With that we would like to take your questions.  Operator?
[{"type": "8-K", "sequence": "1", "filename": "ccallk.txt", "description": "8-K FOR ITEM 7 EVENT ON JULY 17, 2001", "secsgml_size_bytes": 13076}]
{"company-data": {"conformed-name": "DIME COMMUNITY BANCSHARES INC", "cik": "0001005409", "assigned-sic": "6035", "irs-number": "113297463", "state-of-incorporation": "DE", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-27782", "film-number": "1683455"}, "business-address": {"street1": "209 HAVEMEYER ST", "street2": "C/O DIME SAVINGS BANK OF WILLIAMSBURGH", "city": "BROOKLYN", "state": "NY", "zip": "11211", "phone": "7187826200"}, "mail-address": {"street1": "209 HAVEMEYER STREET", "city": "BROOKLYN", "state": "NY", "zip": "11211"}, "former-company": {"former-conformed-name": "DIME COMMUNITY BANCORP INC", "date-changed": "19951227"}}
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):  July 17, 2001

                  DIME COMMUNITY BANCSHARES, INC.
            (Exact name of registrant as specified in its charter)

   Delaware                0-27782                   11-3297463

  (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)
ITEMS 1 THROUGH 6.       NOT APPLICABLE.

ITEM 7.       FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.

              EXHIBIT NO.               DESCRIPTION

               99   Text of the conference call of Dime Community
                                   Bancshares, Inc. regarding the release
                                   of earnings for the three months and
                                   fiscal year ended June 30, 2001

ITEM 8.                  NOT APPLICABLE.

ITEM 9.       REGULATION FD DISCLOSURE.

     On July 17, 2001, Dime Community Bancshares, Inc. held a conference
call regarding the release of its earnings for the three months and
fiscal year ended June 30, 2001.  The text of this conference call is
attached as Exhibit 99.
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: July 17, 2001
EXHIBIT INDEX

EXHIBIT                  DESCRIPTION

               99   Text of the conference call of Dime Community
                                   Bancshares, Inc. regarding the release
                                   of earnings for the three months and
                                   fiscal year ended June 30, 2001
EXHIBIT 99
EXHIBIT 99

                          DIME COMMUNITY BANCSHARES

                   FOURTH QUARTER/YEAR-END CONFERENCE CALL

                                JULY 17, 2001

STEPHANIE PRINCE

Thank you and good morning everyone.  This morning Dime Community
Bancshares reported results for the fourth quarter and full year ended
June 30, 2001.  To discuss these results with you today are Vincent
Palagiano, Chairman and CEO, Michael Devine, President and COO, and
Kenneth Mahon, Chief Financial Officer.

Any  comments  made  in  this  call  by  management,  in response to your
questions,  or  as  part  of their prepared remarks may contain  forward-
looking  information.   Such   information   is   subject  to  risks  and
uncertainties as described in the Company's press release  and  in  other
filings with the SEC.

I'd now like to turn the call over to Vincent Palagiano.  Vincent?

VINCENT PALAGIANO

Thank you stephanie and thank you everyone for joining us this morning to
Review our fourth quarter and full year results.  As many of you know,
This is our first ever conference call with the investment community.  We
Think we have a great story to tell, and we hope we can excite you as
Much as we are excited about our results.  I will begin by reviewing the
Highlights of the quarter and year, and afterwards ken mahon will review
Some of the financial details.

We are pleased to report our fifth consecutive year of record earnings,
Highlighted by a strong fourth quarter.  Our core focus - multifamily
Lending and consumer banking - is a primary reason for our success.  We
Strongly believe that we serve our customers better than the other banks
In our markets, and our results reflect this.

For the fourth quarter ended june 30, our reported earnings increased 26%
To $7.1 million.  This compares to $5.6 million in the year-ago quarter.
Also for the quarter, earnings per diluted share increased 26% to $0.63
Compared to $0.50 per diluted share in the year-ago quarter.

Turning to the full year ended june 30, 2001, dime's reported earnings
Increased 13% to a record $25.2 million, compared to $22.4 million during
Fiscal 2000.  Earnings per diluted share increased 19% to a record $2.26,
Compared to $1.90 per diluted share during the previous fiscal year.

Total  assets at June 30, increased 8.8% to $2.7 billion compared to $2.5
billion  at  the  end  of last year. We have more than tripled the Bank's
total assets since our IPO  five  years  ago,  and  have  grown  EPS by a
compound annual rate of 27%.

Loan  originations  have  picked  up  again as the Fed has lowered rates.
During the quarter ended June 30, we originated  $153.0  million in total
real  estate  loans, primarily multifamily.  This is a 57% increase  over
the amount we originated  in  the same quarter last year.  The annualized
rate of growth on real estate loans  exceeded  18% during the most recent
quarter, and the average rate on new real estate  loans  was 7.21% during
that period.

We  are  also  still  seeing solid deposit growth.  Clearly, our  ongoing
deposit campaign is proving to be quite successful.  Our core deposits at
June 30, 2001 increased  approximately $77 million during the quarter, to
$737 million, compared to $660 million at March 31, 2001. This represents
a 46% annualized growth rate in core deposits.

In Total Deposits over the past year, we have seen the deposit volume per
branch increase from 68 million  dollars  to  79  million  dollars;  that
represents  a  17%  increase  in  deposits  without  opening a single new
branch.

Our credit quality continues be quite impressive as well.  Non-performing
loans are up just slightly from March, but actually down  31%  from  last
year,  and  represent  just over a TENTH of one percent of assets at June
30{th}.

Beginning last year, we placed a lot of emphasis on growing market share
In the 18 communities where our branches are located.  We also wanted to
Increase fee income by updating our products and services.

Since then, we have made reasonable investments in technology.  This has
Given us the ability to offer the same products as much larger banks.  We
Increased our customer base by over 12%, and our retail fee income by
Over 11%.

For example, this year we introduced mastercard's debit card program.
To-date we have activated over 18,000 debit cards.

We also gave our customers the ability to do business over the internet.
We call our new internet banking channel "dsbwdirect".  Balance
Inquiries, money transfer, and bill paying are now available to our
Customers online in real-time.  Combined with our telephone banking
Center and voice response system (both of which have been in place for
Over five years), we continue to offer state-of-the-art banking for our
Customers through any channel they choose.

I was very pleased with the design of the site, and i'd encourage you to
Visit the next time you're online, at www.dsbwdirect.com.

By the end of the year we will install software in which all customer
information and channel activity will be captured in a data warehouse,
which will be used to help our staff cross sell additional products to
our customers.

By focusing on what we know  best  -  multifamily  lending  and  consumer
banking  -  we  feel  we've  built  a  consistent  record of success.  As
evidenced  by  our solid results, it continues to be a  terrific  market.
And there is still  plenty  of  room for us to grow.  In the meantime, we
look forward to expanding our franchise and use our business model in new
markets when we find the right opportunities.

I'd now like to turn the call over to Kenneth Mahon.  Ken?

KENNETH MAHON

Thank you, Vinny, and thank you everyone for participating this morning.

As you've just heard, last year's results were outstanding.  The company
Was well on its way to double-digit earnings per share growth even before
The federal reserve began to lower rates; but we were aided greatly by
The drop in short term rates late in the fiscal year.

Turning first to the Operating Results,  Total  revenue  rose by 7% year-
over-year,  and  by  33%  on  a  linked-quarter basis.  We said  in  last
quarter's press release that we had  at  the  time $283 million of short-
term borrowings at 6.07% due to reprice in the  4{th}  quarter.  That re-
pricing was completed at an average rate of 4-1/4.

In  the  next  six months, there will be another 256 million  dollars  of
short-term borrowings  re-pricing,  the cost of which is expected to drop
by about 40 basis points.

Net Interest Margin for the 4{th} quarter  was  2.85%, which is unchanged
from  the  same  quarter last year.  However, we prepaid  some  long-term
borrowed funds at  a  premium  during the current quarter, which caused a
temporary drop in the Margin.  Excluding  that  transaction, Net Interest
Margin  for  the fourth quarter was 2.93%.  We expect  to  see  continued
margin expansion going forward.

Operating expenses continue to remain low.  Operating expenses, excluding
goodwill, were  1.2%  of  average  assets,  and rose by only about 3-1/2%
year-over-year.

As a result of our strict focus on cost control,  Dime  has an efficiency
ratio of 38%, as compared to our peer group average of 57%.

Turning next to the Balance Sheet,

With 407 million dollars of loan originations last year Dime  experienced
loan  portfolio  growth  of  over  14%,  and  now has a $1.9 billion loan
portfolio.  New loans originated last year had  an  average rate of 7-3/4
percent.

If  you've been following the Company since its IPO, you'll  notice  that
last  year for the first time we made real progress in raising deposits -
other than  through  acquisition.   In  the  past,  we  mostly  relied on
wholesale borrowings for our growth instead of retail deposits.

But  this year, new deposits funded 95% of the Company's growth.   Assets
grew by 9.3%, or $219 million, while deposits grew by $209 million.

This shift  in  funding  is  going to continue to have long-term positive
benefits for net interest margin,  because  over  the  long-term,  retail
deposits tend to have a lower cost than wholesale borrowed funds.

Non-performing  loans totaled only $3.1 million at June 30, 2001, similar
to the third quarter,  but  $1.4  million  below the level of a year ago.
Non-performing assets represented 0.13% of total  assets  and  loan  loss
reserves were 506% of total non-performing loans.

I'd like to make two other points before we break for questions.

First,  because  this  Company  made two large thrift acquisitions in the
last five years using the purchase  method  of  accounting,  Dime's `cash
earnings' are far larger than its `reported earnings'.  Reported earnings
were 25.2 million dollars for the year, but cash earnings were  almost 8-
  1/2   million  dollars  higher,  at 33.7 million.  In other words, cash
earnings were 34% higher than reported earnings, increasing tangible book
value, and representing a 23% return on tangible equity.

And second, along those lines, as you may have read in our press release,
that the way we calculate earnings is  about to change as a result of the
Business Combination rules adopted by the  Financial Accounting Standards
Board.

Our feeling is that this reporting change will  help investors accurately
identify the real earning power of Dime Community Bancshares.

Under the new guidelines, we expect our reported  earnings per share will
rise  in  a  range of 8 to 10 cents a quarter beginning  with  the  first
fiscal quarter  of  the year, September 2001 (that of course excludes any
adjustments  that  may  be  required  from  time  to  time  for  possible
impairment of Goodwill).  In conjunction with adopting the new accounting
guidelines, we now expect to report earnings of approximately 70 cents to
72 cents per diluted  share for the first quarter ended September 30{th},
barring any material changes in interest rates or credit conditions.

Finally, as we look ahead to the full fiscal year of 2002, we anticipate
That market conditions will remain favorable, and we're anticipating
Continued success from our deposit marketing programs.

With that we would like to take your questions.  Operator?