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SUBORDINATED NOTES PAYABLE AND TRUST PREFERRED SECURITIES PAYABLE
12 Months Ended
Dec. 31, 2013
SUBORDINATED NOTES PAYABLE AND TRUST PREFERRED SECURITIES PAYABLE [Abstract]  
SUBORDINATED NOTES PAYABLE AND TRUST PREFERRED SECURITIES PAYABLE
13. TRUST PREFERRED SECURITIES PAYABLE

On March 19, 2004, the Holding Company completed an offering of trust preferred securities through Dime Community Capital Trust I, an unconsolidated special purpose entity formed for the purpose of the offering.  The trust preferred securities bear a fixed interest rate of 7.0%, mature on April 14, 2034, and became callable without penalty at any time on or after April 15, 2009.  The outstanding balance of the trust preferred securities was $70,680 at both December 31, 2013 and 2012.  The Holding Company currently does not intend to call this debt.

Interest expense recorded on the trust preferred securities totaled $5,024, $5,024 and $5,024 during the years ended December 31, 2013, 2012 and 2011, respectively.