Dennis Suskind
About Dennis A. Suskind
Dennis A. Suskind is 82 and has served as an independent director of Dime Community Bancshares, Inc. (DCOM) since 2002; he is a former General Partner of Goldman Sachs & Co. and currently brings deep capital markets and exchange risk oversight experience to DCOM’s board . He has extensive external governance responsibilities as Lead Director of CME (since 2008), including committee work across audit, nominating and governance, executive, and chairing the risk committee . The DCOM board has 10 of 11 independent directors and separates the Chair and CEO roles, reinforcing independent oversight .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Goldman Sachs & Co. | General Partner | Not disclosed | Senior leadership experience in investment banking and capital markets |
| New York Mercantile Exchange | Vice Chairman (past) | Not disclosed | Exchange governance and market risk oversight |
| New York Commodity Exchanges | Vice Chairman (past) | Not disclosed | Exchange governance and market risk oversight |
| Southampton Town Board | Elected Board Member | 2001–2004 | Public sector governance and community engagement |
External Roles
| Organization | Role | Tenure | Committees |
|---|---|---|---|
| Chicago Mercantile Exchange (CME) | Lead Director | Since 2008 | Audit; Nominating & Governance; Executive; Chair of Risk Committee |
| Navistar, Inc. | Director | Until sale in 2021 | Board member prior to 2021 sale |
| Stein Eriksen Lodge (Deer Valley, UT) | President | Not disclosed | Hospitality leadership |
| Hampton Classic Horse Show (Bridgehampton, NY) | President | Not disclosed | Event leadership |
| Marymount School (NYC) | Honorary Board Member | Not disclosed | Education/non-profit governance |
Board Governance
- Committee assignments: Corporate Governance & Nominating Committee member; committee met 4 times in 2024 .
- Independence: The Audit, Compensation & HR, and Corporate Governance committees are fully independent; DCOM board has 10 of 11 independent directors (CEO not independent) .
- Board activity and attendance: Board met 10 times in 2024; all directors attended the May 23, 2024 Annual Meeting .
- Majority voting standard: Bylaws amended to require majority voting in uncontested director elections, increasing accountability .
- Risk oversight: Enterprise Risk, Compliance Risk, and Credit Risk committees provide structured risk oversight; Corporate Governance Committee reviews related-party transactions .
Fixed Compensation
| Component | 2024 Value | Notes |
|---|---|---|
| Annual outside director retainer | $130,000 | Paid 55% cash / 45% stock; no per-meeting fees; chair retainers for Audit ($25,000), Compensation ($25,000), Enterprise Risk ($25,000), Corporate Governance ($15,000); Chairman of Board receives additional $60,000 . |
| Dennis A. Suskind – Fees Earned or Paid in Cash | $68,583 | FY2024 director cash compensation |
| Dennis A. Suskind – Stock Awards | $69,750 | FY2024 restricted stock grant value (FASB ASC 718) |
| Dennis A. Suskind – Total | $138,333 | FY2024 total director compensation |
- Directors’ Stock Purchase Program (DSPP): Allows directors to elect equity in lieu of cash at closing price; elections approved annually; two directors (Germano, Perry) participated in 2024; no disclosure of Suskind’s participation .
Performance Compensation
- Directors do not receive performance-based equity; standard director equity vests one year after grant consistent with 55% cash / 45% stock program set in 2021 .
- Company performance metrics (for executive AIP context; directors are not paid on these metrics):
| Metric | Weighting | Threshold | Target | Maximum | |---|---|---:|---:|---:| | Adjusted Non-Interest Expenses / Average Assets | 50.0% | 1.75% | 1.55% | 1.35% | | Relative Asset Quality (NPLs / Loans vs Peer Group) | 12.5% | 25th pct | 50th pct | 75th pct | | Tier 1 Risk Based Capital Ratio | 10.0% | 10.25% | 11.0% | 12.0% | | CRE Concentration (Consolidated) | 15.0% | 550% | 510% | 470% | | Loan-to-Deposit Ratio | 12.5% | 105.0% | 97.5% | 90.0% | - Risk gate: AIP payout is zero if Consolidated Total Risk-Based Capital <10.5% at year-end; clawback policy updated in July 2023 to comply with SEC rules .
Other Directorships & Interlocks
| Company | Role | Interlock/Exposure |
|---|---|---|
| CME | Lead Director; Risk Chair | Exchange oversight; no disclosed DCOM transactional interlock |
| Navistar, Inc. | Former Director (until 2021) | No current interlock; historical role |
| Stein Eriksen Lodge; Hampton Classic; Marymount School | President / Honorary Board Member | Private/non-profit roles; no disclosed DCOM transactional interlock |
Expertise & Qualifications
- Capital markets and exchange risk oversight: Former Goldman Sachs General Partner; Risk Chair at CME; past vice chair roles at major commodity exchanges .
- Governance and compliance: Committee work at CME across audit and nominating; member of DCOM Corporate Governance Committee overseeing board composition, succession, and related-party reviews .
- Public sector/community engagement: Southampton Town Board service (2001–2004) .
Equity Ownership
| Item | Amount | Notes |
|---|---|---|
| Total beneficial ownership (Common Stock) | 94,867 | Includes 1,848 time-vested restricted shares over which he has voting power |
| Percent of shares outstanding | <1% | Asterisk denotes less than 1% in proxy ownership table |
| Pledging / hedging | Prohibited | Directors/officers barred from pledging and hedging company stock |
| Ownership guidelines (Directors) | 5x annual cash retainer | Must comply within 5 years; directors counted in compliance or within window as of Dec 31, 2024 |
Governance Assessment
- Strengths
- Long-tenured independent director with sophisticated risk oversight and exchange governance expertise; member of Corporate Governance Committee that reviews related-party transactions and board composition .
- Board structure and policies bolster investor confidence: separated Chair/CEO roles, majority voting in uncontested elections, 10 of 11 independent directors, independent committees, annual self-assessments .
- Stock ownership alignment: robust director ownership guidelines (5x cash retainer); pledging and hedging prohibitions; directors in compliance or within timeline .
- Engagement: Board met 10 times in 2024; all directors attended the 2024 annual meeting .
- Potential risks / RED FLAGS
- Related-party exposure: the bank made two residential mortgages to directors and one CRE loan to an entity controlled by a director in 2024; disclosed as ordinary-course, market terms except for a standard 1% discount available to all employees/directors, but specific identities not named (monitor for concentration/terms and Corporate Governance Committee review outcomes) .
- Tenure/refresh: Suskind’s service since 2002 signals deep institutional knowledge; investors may watch ongoing board refreshment against evolving strategy and risk profile (board conducts annual self-assessments) .
- Compensation considerations
- Director pay mix is 55% cash / 45% stock; Suskind’s 2024 total director compensation was $138,333, consistent with program design and below the non-employee director cap of $250,000 under the 2021 Equity Incentive Plan .
- Director equity vests after one year; no performance-based director pay—aligns with governance norms while allowing equity alignment without inducing short-term risk-taking .
Overall, Suskind’s capital markets and risk oversight credentials, independence, and Corporate Governance Committee role are positives for board effectiveness. Monitor related-party lending disclosures and board refresh practices for potential governance signals going forward .