More information on the Company and Bank can befound on the Bank's Internet website at News Release contains a number of forward-looking statements withinthe meaning of Section 27A of the Securities Act of 1933, as amended andSection 21E of the Securities Exchange Act of 1934, as amended (the"Exchange Act"). These statements may be identified by use of words suchas "anticipate," "believe," "could," "estimate," "expect," "intend,""may," "outlook," "plan," "potential," "predict," "project," "should,""will," "would" and similar terms and phrases, including references toassumptions. Forward-looking statements are based upon variousassumptions and analyses made by the Company in light of management'sexperience and its perception of historical trends, current conditionsand expected future developments, as well as other factors it believesare appropriate under the circumstances. These factorsinclude, without limitation, the following: the timing and occurrence ornon-occurrence of events may be subject to circumstances beyond theCompany's control; there may be increases in competitive pressure amongfinancial institutions or from non-financial institutions; changes in theinterest rate environment may reduce interest margins; changes in depositflows, loan demand or real estate values may adversely affect thebusiness of the Bank; changes in accounting principles, policies orguidelines may cause the Company's financial condition to be perceiveddifferently; changes in corporate and/or individual income tax laws mayadversely affect the Company's financial condition or results ofoperations; general economic conditions, either nationally or locally insome or all areas in which the Company conducts business, or conditionsin the securities markets or the banking industry may be less favorablethan the Company currently anticipates; legislation or regulatory changesmay adversely affect the Company's business; technological changes may bemore difficult or expensive than the Company anticipates; success orconsummation of new business initiatives may be more difficult orexpensive than the Company anticipates; or litigation or other mattersbefore regulatory agencies, whether currently existing or commencing inthe future, may delay the occurrence or non-occurrence of events longerthan the Company anticipates.DIME COMMUNITY BANCSHARES, INC. 
AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF FINANCIAL CONDITION(In thousands except share amounts) December 31,September 30, 2008 December 31, 2008(Unaudited) 2007(Unaudited) -ASSETS:Cash and due from banks$ 211,020$ 101,708$78,159Investment securities held to maturity 10,861 80 11,513Investment securities available for sale 16,602 34,095 16,059Mortgage-backed securities available for sale301,351162,764309,094Federal funds sold and other short-term investments-128,014-Real Estate Loans: One-to-four family andcooperative apartment142,295145,592150,414 Multifamily and underlyingcooperative2,242,5421,949,0252,187,981 Commercial real estate848,208728,129803,020 Construction and landacquisition 52,982 49,387 46,788 Unearned discounts and netdeferred loan fees 3,2871,8333,138 - Total real estate loans 3,289,3142,873,9663,191,341 - Other loans 2,1912,1692,133 Allowance for loan losses (17,454) (15,387) (16,549) -Total loans, net 3,274,0512,860,7483,176,925 -Loans held for sale-890736Premises and fixed assets, net30,426 23,878 25,883Federal Home Loan Bank of New York capital stock 53,435 39,029 52,985Other real estate owned, net 300Goodwill55,638 55,638 55,638Other assets 101,914 94,331101,644 -TOTAL ASSETS $ 4,055,598$ 3,501,175$ 3,828,636 LIABILITIES AND STOCKHOLDERS' EQUITY:Deposits:Non-interest bearing checking$90,710$88,398$89,744Interest Bearing Checking112,687 61,687101,381Savings270,321274,067271,062Money Market 633,167678,759595,551 -Sub-total$ 1,106,885$ 1,102,911$ 1,057,738 -Certificates of deposit1,153,1661,077,0871,040,039 -Total Due to Depositors2,260,0512,179,9982,097,777 -Escrow and other deposits130,121 52,209 80,110Securities sold under agreements to repurchase230,000155,080230,000Federal Home Loan Bank of New York advances 1,019,675706,5001,009,675Subordinated Notes Sold 25,000 25,000 25,000Trust Preferred Notes Payable 72,165 72,165 72,165Other liabilities 41,622 41,371 37,807 -TOTAL LIABILITIES3,778,6343,232,3233,552,534 -STOCKHOLDERS' EQUITY:Common stock ($0.01 par, 125,000,000 shares authorized, 51,122,319 shares, 51,121,694 shares and 50,906,278 shares issued at December 31, 2008, September 30, 2008 and December 31, 2007, respectively, and 34,179,900 shares, 34,179,275 shares and 33,909,902 shares outstanding at December 31, 2008, September 30, 2008and December 31, 2007, respectively) 511509511Additional paid-in capital 213,917208,369213,335Retained earnings297,848288,112297,146Unallocated common stock of Employee Stock Ownership Plan(3,933)(4,164)(3,990)Unearned common stock of Restricted Stock Awards(1,790)(634)(2,014)Common stock held by the Benefit Maintenance Plan (8,007)(7,941)(8,007)Treasury stock (16,942,419 shares, 16,942,419 shares and 16,996,376 shares at December 31, 2008, September 30, 2008 and December 31, 2007, respectively)(210,471)(211,121)(210,471)Accumulated other comprehensive loss, net (11,111)(4,278) (10,408) -TOTAL STOCKHOLDERS' EQUITY 276,964268,852276,102 -TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$ 4,055,598$ 3,501,175$ 3,828,636 DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIESUNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS(Dollars In thousands except per share amounts) For the Three MonthsEnded - December 31, September 30,December 31, 2008 2008 2007 Interest income: Loans secured by realestate $47,987$47,734$ 42,854 Other loans40 4146 Mortgage-backedsecurities 3,4893,610 1,809 Investment securities 538340 818 Federal funds sold andother short-terminvestments594783 1,670 Total interest income 52,648 52,50847,197 Interest expense: Deposits and escrow14,631 12,92719,105 Borrowed funds 14,188 14,39910,012 Total interestexpense 28,819 27,32629,117 Net interest income 23,829 25,18218,080Provision for credit losses1,04059660 Net interest income afterprovision for credit losses 22,789 24,58618,020 Non-interest income: Service charges and otherfees 1,0771,500 1,103 Mortgage banking (loss)income, net (1,782)(724)396 Impairment charge onsecurities(3,209) - - Loss on sale of otherreal estate owned andother assets - Other 1,024901 913 Total non-interest income (loss)(2,890) 1,677 2,412 Non-interest expense: Compensation and benefits 7,0117,491 6,101 Occupancy and equipment 1,8171,815 1,859 Other 3,6943,607 3,378 Total non-interest expense12,522 12,91311,338 Income before taxes7,377 13,350 9,094Income tax expense 2,0844,997 3,657 Net Income $ 5,293$ 8,353$5,437 Earnings per Share:Basic$0.16$0.26$ 0.17 Diluted$0.16$0.25$ 0.17 Average common shares outstanding for Diluted EPS32,903,141 33,036,93732,737,939For the Year Ended December 31, December 31, 2008 2007 Interest income: Loans secured by realestate $ 182,934$ 165,221 Other loans 166178 Mortgage-backedsecurities12,6856,344 Investment securities 1,9502,011 Federal funds sold andother short-terminvestments4,9198,406 Total interest income202,654182,160 Interest expense: Deposits and escrow59,978 75,761 Borrowed funds 51,324 35,386 Total interestexpense111,302111,147 Net interest income 91,352 71,013Provision for credit losses2,006240 Net interest income after provision for credit losses89,346 70,773 Non-interest income: Service charges and otherfees 4,7664,780 Mortgage banking (loss)income, net (2,190) 1,512 Impairment charge onsecurities(3,209) - Loss on sale of otherreal estate owned andother assets(129) - Other 3,5764,128 Total non-interest income (loss) 2,814 10,420 Non-interest expense: Compensation and benefits28,624 25,416 Occupancy and equipment 6,9676,431 Other14,382 13,655 Total non-interest expense49,973 45,502 Income before taxes 42,187 35,691Income tax expense14,159 13,248 Net Income $28,028$22,443 Earnings per Share:Basic$0.85$0.67 Diluted$0.85$0.67 Average common shares outstanding for Diluted EPS32,824,802 33,641,875 DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIESUnaudited Core Earnings and Core Cash Earnings Reconciliations(Dollars In thousands except per share amounts)Core earnings andrelateddataare"Non-GAAPDisclosures." Thesedisclosurespresent information which management considers usefultothereaders of this report since they present a measure of the resultsoftheCompany'songoingoperations during the period(exclusiveofgainsorlossesonsalesofsecurities and other realestateownedandothermaterial non-recurring items).Corecash earnings and related data are also "Non-GAAP Disclosures." Thesedisclosurespresent information which management considers usefultothereaders of this report since they present a measure of the tangibleequitygenerated from operationsduringeachperiod presented. Tangible stockholders'equitygenerationis a significant financial measure since banks aresubjecttoregulatoryrequirementsinvolving themaintenanceofminimumtangiblecapitallevels. A reconciliation between GAAP stockholders'equity(GAAPcapital)andtangible stockholders' equity (regulatorycapital)canbefound in the Company's Form 10-K for the year ended December 31, 2007.Thefollowing tables present a reconciliation of GAAP net income andbothcoreearningsandcore cash earnings, as well asfinancialperformanceratios determined based upon core earnings and core cash earnings, for eachof the periods presented: For the Three Months Ended - December 31, September 30,December 31, 2008 2008 2007 -Net income as reported $ 5,293$ 8,353$ 5,437Loss on sale of other real estate owned and other assets -Impairment charge on securities3,209Non-recurring adjustment to income taxes 36 15-Pre-tax income from life insurance contract settlement -Tax effect of adjustments (1,449) -Core Earnings$ 7,089$ 8,368$ 5,437 -Cash Earnings Additions:Non-cash stock benefit plan expense 685713453 -Core Cash Earnings $ 7,774$ 9,081$ 5,890 -Performance Ratios (Based upon Core Cash Earnings):Core Cash EPS (Diluted)$0.24$0.27$0.18Core Cash Return on Average Assets 0.800.960.70Core Cash Return on Average Tangible Stockholders' Equity 13.47 15.97 10.83For the Year Ended December 31, December 31, 2008 2007 Net income as reported $28,028$22,443Loss on sale of other real estate owned and other assets 129-Impairment charge on securities3,209-Non-recurring adjustment to income taxes (510) -Pre-tax income from life insurance contract settlement - (546)Tax effect of adjustments (1,507) - Core Earnings$29,349$21,897 Cash Earnings Additions:Non-cash stock benefit plan expense 2,5721,768 Core Cash Earnings $31,921$23,665 Performance Ratios (Based upon Core Cash Earnings):Core Cash EPS (Diluted)$0.97$0.70Core Cash Return on Average Assets 0.860.73Core Cash Return on Average Tangible Stockholders' Equity 14.26 10.43 DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIESUNAUDITED SELECTED FINANCIAL HIGHLIGHTS(Dollars In thousands except per share amounts) For the Three Months Ended - December 31, September 30,December 31, 2008 2008 2007 -Performance Ratios (Based upon Reported Earnings):Reported EPS (Diluted) $0.16$0.25$0.17Return on Average Assets0.550.880.65Return on Average Stockholders' Equity 7.67 12.208.11Return on Average Tangible Stockholders' Equity 9.17 14.69 10.00Net Interest Spread 2.422.521.92Net Interest Margin 2.632.772.27Non-interest Expense to Average Assets 1.291.361.36Efficiency Ratio (1) 51.85 48.08 55.89Effective Tax Rate 28.25 37.43 40.21Performance Ratios (Based upon Core Earnings):Core EPS (Diluted) $0.22$0.25$0.17Core Return on Average Assets 0.730.880.65Core Return on Average Stockholders' Equity10.28 12.228.11Core Return on Average Tangible Stockholders' Equity 12.28 14.72 10.00Book Value and Tangible Book Value Per Share:Stated Book Value Per Share$8.10$8.08$7.93Tangible Book Value Per Share 6.79 6.75 6.41Average Balance Data:Average Assets $ 3,873,395$ 3,794,495$ 3,345,437Average Interest Earning Assets3,629,5273,639,9643,180,603Average Stockholders' Equity 275,896273,816268,177Average Tangible Stockholders' Equity230,886227,454217,501Average Loans3,237,5623,219,9142,861,060Average Deposits 2,163,5532,049,7832,132,528Asset Quality Summary:Net (recoveries) charge-offs $ 350($ 26) $ 5Nonperforming Loans7,4026,4402,856Nonperforming Loans/ Total Loans0.220.200.10Nonperforming Assets 7,7026,4402,856Nonperforming Assets/Total Assets 0.190.170.08Allowance for Loan Loss/Total Loans0.530.520.53Allowance for Loan Loss/Nonperforming Loans 235.80256.97538.76Regulatory Capital Ratios:Consolidated Tangible Stockholders' Equity to Tangible Assets at period end5.796.086.29Tangible Capital Ratio (Bank Only)7.637.877.88Leverage Capital Ratio (Bank Only)7.637.877.88Risk Based Capital Ratio (Bank Only) 11.43 11.43 11.92For the Year Ended December 31, December 31, 2008 2007 Performance Ratios (Based upon Reported Earnings):Reported EPS (Diluted) $0.85$0.67Return on Average Assets0.760.69Return on Average Stockholders' Equity10.298.11Return on Average Tangible Stockholders' Equity12.529.89Net Interest Spread 2.341.88Net Interest Margin 2.602.29Non-interest Expense to Average Assets 1.351.39Efficiency Ratio (1) 51.25 56.40Effective Tax Rate 33.56 37.12Performance Ratios (Based upon Core Earnings):Core EPS (Diluted) $0.89$0.65Core Return on Average Assets 0.790.67Core Return on Average Stockholders' Equity10.787.92Core Return on Average Tangible Stockholders' Equity 13.129.65Book Value and Tangible Book Value Per Share:Stated Book Value Per Share$8.10$7.93Tangible Book Value Per Share 6.79 6.41Average Balance Data:Average Assets $ 3,709,924$ 3,263,018Average Interest Earning Assets3,512,7713,105,459Average Stockholders' Equity 272,299276,582Average Tangible Stockholders' Equity223,778226,977Average Loans3,090,0322,777,220Average Deposits 2,131,2112,128,350Asset Quality Summary:Net (recoveries) charge-offs $ 584$ 9Nonperforming Loans7,4022,856Nonperforming Loans/Total Loans0.220.10Nonperforming Assets 7,7022,856Nonperforming Assets/Total Assets 0.190.08Allowance for Loan Loss/Total Loans0.530.53Allowance for Loan Loss/Nonperforming Loans 235.80538.76Regulatory Capital Ratios:Consolidated Tangible Stockholders' Equity to Tangible Assets at period end5.796.29Tangible Capital Ratio (Bank Only)7.637.88Leverage Capital Ratio (Bank Only)7.637.88Risk Based Capital Ratio (Bank Only) 11.43 11.92 DIME COMMUNITY BANCSHARES, INC. AND SUBSIDIARIESUNAUDITED AVERAGE BALANCES AND NET INTEREST INCOME(Dollars In thousands)For the Three Months EndedDecember 31, 2008AverageAverage Yield/BalanceInterestCost- Assets:Interest-earning assets:Real estate loans $ 3,235,756 $ 47,9875.93Other loans 1,806 408.86Mortgage-backed securities306,6523,4894.55Investment securities27,4565387.84Other short-term investments 57,8575944.11- Total interest earning assets 3,629,527 $ 52,6485.80- Non-interest earning assets 243,868-Total assets$ 3,873,395Liabilities and Stockholders' Equity:Interest-bearing liabilities:Interest Bearing Checking $ 104,224 $6032.30Money Market accounts 606,6474,0742.67Savings accounts269,1533820.56Certificates of deposit 1,090,6619,5723.49- Total interest bearing deposits 2,070,685 14,6312.81 Borrowed Funds 1,317,166 14,1884.29- Total interest-bearing liabilities3,387,851 28,8193.38- Non-interest bearing checking accounts92,868Other non-interest-bearing liabilities116,780-Total liabilities 3,597,499Stockholders' equity275,896-Total liabilities and stockholders' equity $ 3,873,395Net interest income $ 23,829Net interest spread 2.42Net interest-earning assets $ 241,676Net interest margin 2.63Ratio of interest-earning assets to interest-bearing liabilities107.13Deposits (including non-interest bearing checking accounts) $ 2,163,553 $ 14,6312.69Interest earning assets (excluding prepayment and other fees) 5.70For the Three Months EndedSeptember 30, 2008AverageAverage Yield/BalanceInterestCost- Assets:Interest-earning assets:Real estate loans $ 3,218,192 $ 47,7345.93Other loans 1,722 419.52Mortgage-backed securities318,2243,6104.54Investment securities31,2713404.35Other short-term investments 70,5557834.44- Total interest earning assets 3,639,964 $ 52,5085.77- Non-interest earning assets 154,531-Total assets$ 3,794,495Liabilities and Stockholders' Equity:Interest-bearing liabilities:Interest Bearing Checking $ 103,718 $6072.33Money Market accounts 633,9464,0752.56Savings accounts275,1043870.56Certificates of deposit 944,3677,8583.31- Total interest bearing deposits 1,957,135 12,9272.63 Borrowed Funds 1,388,337 14,3994.13- Total interest-bearing liabilities3,345,472 27,3263.25- Non-interest bearing checking accounts92,648Other non-interest-bearing liabilities 82,559-Total liabilities 3,520,679Stockholders' equity273,816-Total liabilities and stockholders' equity $ 3,794,495Net interest income $ 25,182Net interest spread 2.52Net interest-earning assets $ 294,492Net interest margin 2.77Ratio of interest-earning assets to interest-bearing liabilities108.80Deposits (including non-interest bearing checking accounts) $ 2,049,783 $ 12,9272.51Interest earning assets (excluding prepayment and other fees) 5.64For the Three Months EndedDecember 31, 2007AverageAverage Yield/BalanceInterestCost- Assets:Interest-earning assets:Real estate loans $ 2,859,240 $ 42,8546.00Other loans 1,820 46 10.11Mortgage-backed securities167,2731,8094.33Investment securities28,217818 11.60Other short-term investments124,0521,6705.38- Total interest earning assets 3,180,602 $ 47,1975.94- Non-interest earning assets 164,835-Total assets$ 3,345,437Liabilities and Stockholders' Equity:Interest-bearing liabilities:Interest Bearing Checking $53,231 $3062.28Money Market accounts 663,3956,6633.98Savings accounts275,6063720.54Certificates of deposit 1,049,843 11,7644.45- Total interest bearing deposits 2,042,075 19,1053.71 Borrowed Funds 833,973 10,0124.76- Total interest-bearing liabilities2,876,048 29,1174.02- Non-interest bearing checking accounts90,453Other non-interest-bearing liabilities110,759-Total liabilities 3,077,260Stockholders' equity268,177-Total liabilities and stockholders' equity $ 3,345,437Net interest income $ 18,080Net interest spread 1.92Net interest-earning assets $ 304,554Net interest margin 2.27Ratio of interest-earning assets to interest-bearing liabilities110.59Deposits (including non-interest bearing checking accounts) $ 2,132,528 $ 19,1053.55Interest earning assets (excluding prepayment and other fees) 5.73Contact:Kenneth CeonzoDirector of Investor Relations718-782-6200 extension 8279Copyright 2009, Market Wire, All rights reserved.-0-.
) What a game - and what a roller coaster of emotions! Light Out Lidge has his mojo back. Chan Ho Park looked great again and our fielding as usual outstanding (other than the throw into our dugout huh)...I had to leave the TV and just listen as to not jinx the game for the Phillies (and Jeff - who was amused by my entire kiss of death superstition). Tonight was about winners, not cancer. It was filled with screaming and yelling at the TV...just like last year. It was a few hours that enabled us to forget the harsh reality of what Jeff is facing.Now for my analysis of the TBS broadcasters...were they on the take from the Dodgers I thought one of them might be engaged to Clayton Kershaw the way theywere fussing and fawning over him. Ruiz hit the first home run of the game bringing in Feliz! Was a great moment when he Kershaw lost it in the 5th and then walked two which lead to Ryan Howard hitting the bombastic double. In the 8th it was all Rauuuuul! We had our bats with us tonight. I wish the announcers were as excited speaking about the Phillies as the Dodgers. They ragged about our bull pen...NEWFLASH, we won you fools and Brad Lidge was back. Sure we went through a lot of pitchers - so did the Dodgers, it is called playoffs! This is the night I prayed for and the Phillies delivered. Jeff was more awake than he has been in over two weeks and totally energized - eagerly waiting for 4 pm tomorrow and game two. We took away home team advantage fromthe Dodgers and we took away chemo reaction from Jeff. He even thinks his newly bald head looks a little like Raul Ibanez (it doesn't, but what the hell!). So let's see if we can go the distance...the next round of chemicals go into Jeff on Wednesday and Phillies are the best antidote there is to the chemo's poison!I am having a Harry the K moment sigh - up in heaven he was yelling "Outta' Here!" I could hear him with each home run! Thanks Harry, guardian angel of the Phillies and thanks guys...for a few hours life was grand again!. OCEANSIDE, Calif.(Business Wire)International Stem Cell Corporation (OTCBB:ISCO) has received the second $1million tranche of an anticipated private equity financing of up to $5 millionto be funded over the next several months. The total amount of the financing isintended to allow the Company to move forward with its therapeutic research,including its pre-clinical trials. The money will also help retire its existingsecured debt and be allocated to marketing to increase revenues in the Companyssubsidiary, Lifeline Cell Technology, which makes and sells specialty cells andgrowth media.
ISCO is the creator and developer of a new class of stem cells that remove twoof the greatest barriers to the therapeutic use of stem cells: 1) immunerejection and 2) the ethical issues that surround the use of embryonic stemcells. ISCO makes its cells available to qualified researchers worldwide, andits technology, called "Parthenogenesis," results in the creation of cell linesthat may allow cells from a single donor to be immune-matched to hundreds ofmillions of people thus reducing the dangers of immune rejection. For more information, visit the ISCO website at: To subscribe to receive ongoing corporate communications please click on thefollowing link: http:// ABOUT INTERNATIONAL STEM CELL CORPORATION (ISCO.OB):International Stem Cell Corporation is a California biotechnology companyfocused on developing therapeutic and research products. ISCOs technology,Parthenogenesis, results in the creation of pluripotent human stem cell linesfrom unfertilized human eggs. ISCO scientists have created the firstParthenogenetic homozygous stem cell line (phSC-Hhom-4) that can be a source oftherapeutic cells that will minimize immune rejection after transplantation intohundreds of millions of individuals of differing sexes, ages and racial groups.These advancements offer the potential to create the first true "Stem Cell Bank"and address ethical issues by eliminating the need to use or destroy fertilizedembryos.
The increaseresulted from an additional 1Sapp put the crown of his helmet under Cliftonrsquos chinWe are verypleased the tender offer was successfulRobertsInvestor Copyright Business Wire 2009The fourth quarter 2008 resultsinclude a 6FTP is no longer necessary for sharing and editing large graphicsfiles1during 2008 and increased at a rate of 0 Wanderlei Silva in an interview with SherdogR and Louis Reil Day for ICE FuturesCanadaTM4 million anincrease of 62 compared to 2
