Four men aged 32, 26, 41 and 22 were detained by the PSNI, while the fifth man was arrested by Irish police in Dooard, Rossinver in Co Leitrim on Saturday night.
He is currently detained under Section 30 of the Offences Against the State Act.
Read Ken Reid's blog: Dissident warning
Officers returned two warning shots, which are being investigated by Police Ombudsman Alan Hutchinson, after they were shot at near the village of Garrison, close to the Irish border on Saturday night..
It is understood it was an attempt to murder a police officer who lived in the village.
No-one was injured in the incident.
Dissidents are also being blamed for an attack on the Policing Board headquaters in Belfast later on Saturday night.
A 400lb bomb partially exploded outside the police HQ after a car was driven through the barrier at Clarendon Dock.
Two men were seen running off.
No-one was injured in the incident.
A car was also found burned out nearby in the staunchly Republican New Lodge area of the city and police are investigating whether there is any link.
Both Garrison and the area around Clarendon Dock were cordoned off while police examined the scenes.
Police said the scene at Clarendon Dock has now been reduced to an area surrounding the Policing Board's building and will remain until around Monday lunchtime.
'Severe'
Chief Constable Matt Baggott said the attack on the Policing Board was an attempt to derail the peace process.
Mr Baggott said: "We have said from day one that the terrorist situation is severe. We have substantial resources being put into investigating and thwarting these attacks.
"This attack is an attack on the well-being of everybody in Northern Ireland, this is not about an attack on policing or the Policing Board, this is an attack on young people and young people's future."
Mr Baggott added: "It is a reckless act not just in doing damage but also the potential loss of life."
Sinn Fein MLA Gerry Kelly said it was an attack on the communities who elected members of the Policing Board.
"It is unacceptable and I condemn it," he said.
"If this attack is the work of one of the small republican militarist groupings then my message to them is very clear. These actions are futile and have no place in advancing republican or democratic objectives.
"These activities need to end."
Sinn Fein and the SDLP said the dissident activity should hasten the transfer of policing and justice powers to Stormont.
"I wouldn't agree with that", DUP South Belfast MLA Jimmy Spratt told UTV.
"Devolution will not make any difference. The Police Service has to deal with this escalation and get more police officers on the streets. That's the answer," the Policing Board member added.
"I hope the police service and the Chief Constable are given whatever tools are needed from the Government and if that means bringing in additional people or military support in then that has to be done."
Alliance Party MLA and Belfast Lord Mayor Naomi Long said the attacks had "sickening echoes of the past".
"I cannot adequately articulate the sheer level of contempt I hold these individuals in. People must work with the police to bring them to justice and stop their evil actions."
Northern Ireland Minister Paul Goggins also condemned the attack.
"When attacks like these happen it brings people together with the strong message that these dissidents will not succeed.
"They are a small minority, they are reckless and criminally intent.
"Policing will continue in Northern Ireland and progress will continue."
The Policing Board is made up of independent members of the community and politicians who hold police to account through regular public meetings.
Chairman Barry Gilligan said: "This attack last night was an attack upon the entire community not only the 19 members of the Policing Board but also the staff who work in that building are working on behalf of the community in holding the Chief Constable to account."
