Dime Community Bancshares Inc., New York, hired Principal Financial Group as record keeper of its 401(k) plan, the bank disclosed in its 11-K filing with the SEC.
Principal replaced Pentegra Services effective Feb. 1. The reason for the change was not provided.
As of Dec. 31, the Dime Community Bank KSOP had $89 million in assets, according to the June 28 filing. As of that same date, the plan had 12 investment options, a common stock fund and a target-date fund lineup managed by Vanguard Group.
Avinash Reddy, executive vice president and chief financial officer, could not be immediately reached to provide further information.