Provident Bank Hires Two New Commercial Bankers

MONTEBELLO, NY--(Marketwire - Feb 7, 2012) - Provident Bank, a subsidiary of Provident New York Bancorp (NYSE: PBNY), announced today that it has expanded its commercial banking team in White Plains. Grace Sabino and Anthony Palmesi have joined the Bank as Managing Directors and are responsible for developing and managing commercial banking relationships in Westchester County.

"With their years of experience in commercial banking, Grace and Anthony are a valuable addition to our Commercial Banking Team. They bring to Provident Bank an impressive record of success in loan originations and new business development," said Carl Capuano, Commercial Banking Market Leader for Provident Bank.

Grace Sabino, who has 23 years of banking experience, was most recently Vice President and Relationship Manager for Hudson Valley Bank where she was instrumental in establishing a new banking office in Mamaroneck. Prior to joining Hudson Valley Bank in 2006, she was Vice President and Business Development Officer for The Bank of New York. Ms. Sabino began her banking career at The Bank of New York in 1988. A resident of Yorktown Heights, Ms. Sabino is a graduate of Pace University.

Anthony Palmesi was most recently Regional Vice President of Mahopac National Bank where he was involved in securing commercial accounts and developing new business in the Westchester area market. Prior to joining Mahopac National Bank in 2005, he was a Vice President with J.P. Morgan Chase where he held numerous positions in commercial lending. Mr. Palmesi, who began his banking career in 1985, has also held commercial lending positions with The Bank of New York and Chase Manhattan Bank.

Headquartered in Montebello, N.Y., Provident Bank, with $3.1 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.

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