Provident New York Bancorp Announces Plans to List on the New York Stock Exchange

MONTEBELLO, NY--(Marketwire - Dec 16, 2011) - Provident New York Bancorp (NASDAQ: PBNY), parent company of Provident Bank, announced today that it is transferring the listing of its common stock to the New York Stock Exchange ("NYSE"). The company expects to begin trading on the NYSE on December 28, 2011, under its current ticker symbol "PBNY". The company will continue to trade on the NASDAQ Global Select Market until the transfer is completed.

"We are pleased to join the NYSE," said Jack Kopnisky, President and CEO. "As we continue to implement our strategy of growing our business in the greater New York marketplace, alignment with NYSE and the support it provides is an important step."

"We look forward to welcoming Provident New York Bancorp to the community of New York Stock Exchange listed companies," said Scott Cutler, NYSE Euronext EVP and Head of Listings, Americas. "We are committed to a long-term partnership with Provident New York Bancorp and its shareholders, and to providing the superior liquidity, services and visibility associated with listing on the NYSE."

In celebration of the transfer, representatives from Provident New York Bancorp will ring the NYSE Opening Bell at 9:30 a.m. ET on January 4, 2012.

FORWARD-LOOKING STATEMENTS AND ASSOCIATED RISK FACTORS

Any statements contained herein that are not statements of historical fact, including those that anticipate future growth, may be deemed to be forward-looking statements. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that may adversely affect the Company's ability to realize its plans. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release. There are a number of important factors described in documents filed by the Company with the Securities and Exchange Commission and other factors that could cause the Company's actual results to differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.

Headquartered in Montebello, N.Y., Provident Bank, with $3.1 billion in assets, is the largest independent full-service community bank in the lower Hudson Valley. Provident Bank operates 37 branches that serve the Hudson Valley region including three Commercial Banking Centers in Westchester County, and two Commercial Banking Centers in Bergen County, N.J., and one Commercial Banking Center in Montebello, NY. The bank offers a broad line of commercial, retail and investment management services. Visit the Provident Bank Web site at www.providentbanking.com.