Provident Bank Attracts Top Middle Market Team for New York City Market

MONTEBELLO, NY--(Marketwire - Jul 23, 2012) - Provident Bank, a subsidiary of Provident New York Bancorp (NYSE: PBNY), announced today that it has hired a new Commercial Banking team in the New York City Metro Market. The addition of this team in New York City brings the total number of Provident Bank teams dedicated to serving the needs of businesses throughout the greater New York metropolitan area to 15. This new team will operate out of the midtown Manhattan office and is the sixth Commercial Banking team added to the New York City Metro Market this year. 

"We continue to attract top talent to our brand of relationship banking," said Jack Kopnisky, President and CEO of Provident Bank. "We look forward to the contributions this team will make to our expanding franchise." 

John Hotchkiss and Richard Fischer were both named Senior Managing Directors and will co-lead this new team. Hotchkiss and Fischer each have over 20 years of banking experience in New York City and joined Provident Bank from Herald National Bank where they led a team that built a significant portfolio of middle market clients along with the personal banking of the business owners. Hotchkiss and Fischer have worked together as a team since their working relationship began in the early '90s at Fleet Bank, which was acquired by Bank of America. They have developed significant expertise in C&I, healthcare finance, real estate, and private banking. "We are impressed by Provident Bank's business model and leadership, which supports the high level of personalized service our clients expect," said Mr. Hotchkiss. "We look forward to helping Provident build on its expertise in delivering service to middle market clients and expand this growing franchise," added Mr. Fischer.

Two additional hires were made in connection with this new team. Gerald Levine, who has over 30 years experience in banking with a focus on credit underwriting for the last 10 years, was named Senior Credit Analyst. Gerald joined Provident Bank from Herald National Bank where he served as Vice President, Lending and Credit Officer. Marie Joseph was named Senior Client Associate. Ms. Joseph has over 10 years experience in banking and joins Provident Bank from Herald National Bank where she served as Private Client Senior Associate.

"This new team brings to Provident Bank an impressive record of success in building middle market business relationships," said David Bagatelle, New York City Metro Market President for Provident Bank. "They will play an instrumental role in the launch of a new healthcare financing initiative and the expansion of the Banks' commercial and private banking business in the Metro New York City and the overall tri-state marketplace."

Headquartered in Montebello, N.Y., Provident Bank, with $3.2 billion in assets, specializes in the delivery of service and solutions to business owners, their families, and consumers in communities within the greater New York City marketplace through teams of dedicated and experienced relationship managers. Our franchise includes 36 Financial Centers. Provident Bank offers a complete line of commercial, business, and consumer banking products and services. For more information, visit the Provident Bank Web site at www.providentbanking.com.

FORWARD-LOOKING STATEMENTS AND ASSOCIATED RISK FACTORS
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