Provident New York Bancorp Names New CFO

MONTEBELLO, NY--(Marketwire - Nov 27, 2012) - Provident New York Bancorp (NYSE: PBNY), parent company of Provident Bank, announced the appointment of Luis Massiani, an experienced financial services executive, as executive vice president and chief financial officer of Provident New York Bancorp and Provident Bank effective December 15, 2012.

Most recently Mr. Massiani served as director of the investment banking department of Credit Suisse Securities, LLC where he focused on the banking and specialty finance sectors. Prior to Credit Suisse, he was with Citadel Securities LLC where he led transaction execution for mergers and acquisitions as well as capital raising activities. Earlier, Mr. Massiani held positions in the financial institutions group at Citigroup Global Markets Inc. He is a graduate of the Kelley School of Business at Indiana University with an MBA.

Mr. Massiani will join the organization on December 5, 2012 as executive vice president and will succeed Stephen V. Masterson, who is leaving the organization in mid-December due to family considerations. Mr. Masterson will continue to serve as executive vice president and chief financial officer until his departure.

"Luis joins Provident at an important time in our development," said Jack Kopnisky, president and CEO of Provident Bank. "His experience in financial services, and banking in particular, will add significant value to the continued implementation of our growth strategy in the New York metropolitan area."

"Provident Bank has built a compelling strategy focusing on middle market commercial clients, and I look forward to working with Jack and his team as we continue to successfully implement this important strategy," stated Mr. Massiani.

Provident Bank, with $4 billion in assets, is a growing financial services firm that specializes in the delivery of service and solutions to business owners, their families, and consumers in communities within the greater New York City metropolitan area through teams of dedicated and experienced relationship managers. Provident Bank offers a complete line of commercial, business, and consumer banking products and services. For more information, visit www.providentbanking.com.

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