Provident Bank announces executive appointments and promotions to enhance technology, data strategy, and regional sales growth.
Quiver AI Summary
Provident Bank has announced key appointments and promotions aimed at enhancing its leadership team and supporting its growth strategy. Satish Harikrishnan has been promoted to Senior Vice President and Chief Technology Officer, where he will lead technology initiatives focused on operational efficiency and cybersecurity. Shyam Nair joins as Senior Vice President, Head of Data, Analytics, and Data Governance, bringing extensive experience in data transformation to advance Provident's data strategy. Linda Martin has been promoted to Senior Vice President, Regional Sales Manager for the Central Region, emphasizing exceptional customer experience and sales goals. Additionally, Andrew Markey joins as Senior Vice President, Team Leader for Commercial Real Estate, with a focus on managing commercial real estate transactions. These changes reflect Provident's commitment to improved technology, customer service, and community impact as it continues to expand its services.
Potential Positives
- Appointment of experienced executives, such as Shyam Nair and Andrew Markey, highlights Provident Bank's commitment to strengthening its leadership team and enhancing its data and analytics capabilities.
- Promotions within the company reflect internal growth and recognition of talent, particularly with Linda Martin focusing on improving customer experience and regional sales.
- Strategic technology leadership from Satish Harikrishnan is expected to bolster the bank's operational efficiency and cybersecurity, aligning with its growth objectives.
- The expansion of Provident Bank's executive team positions it well for continued growth and community impact within the competitive financial services sector.
Potential Negatives
- Potential lack of information regarding the reasons behind the executive appointments and promotions, which could raise questions about existing leadership effectiveness.
- Absence of specific performance metrics or objectives related to the new executives’ roles, leaving stakeholders uncertain about expected outcomes.
- Only highlighting leadership changes without addressing any existing challenges or concerns the company might be facing could be perceived as a lack of transparency.
FAQ
What recent executive appointments were made at Provident Bank?
Provident Bank appointed Satish Harikrishnan as CTO and Shyam Nair as Head of Data, alongside promotions for Linda Martin and Andrew Markey.
Who is the new Chief Technology Officer at Provident Bank?
Satish Harikrishnan has been promoted to Senior Vice President and Chief Technology Officer, overseeing technology strategy and operational efficiency.
What role will Shyam Nair play at Provident Bank?
Shyam Nair joins as Senior Vice President, Head of Data, responsible for executing the organization's data strategy and governance.
What experience does Andrew Markey bring to Provident Bank?
Andrew Markey has over 30 years of experience in commercial real estate lending and will lead the bank's commercial real estate team.
How many branches does Provident Bank operate?
Provident Bank operates over 140 branches throughout New Jersey and parts of New York and Pennsylvania.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$PFS Insider Trading Activity
$PFS insiders have traded $PFS stock on the open market 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.
Here’s a breakdown of recent trading of $PFS stock by insiders over the last 6 months:
- JOHN PUGLIESE sold 25,000 shares for an estimated $497,750
- GEORGE LISTA (Pres/CEO Prov Protection Plus) sold 8,261 shares for an estimated $151,605
- JAMES A. CHRISTY (EVP, CRO of Provident Bank) sold 3,000 shares for an estimated $59,699
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$PFS Revenue
$PFS had revenues of $221.8M in Q3 2025. This is an increase of 5.32% from the same period in the prior year.
You can track PFS financials on Quiver Quantitative's PFS stock page.
$PFS Hedge Fund Activity
We have seen 135 institutional investors add shares of $PFS stock to their portfolio, and 135 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- HSBC HOLDINGS PLC removed 741,770 shares (-84.7%) from their portfolio in Q3 2025, for an estimated $14,301,325
- AMERICAN CENTURY COMPANIES INC added 664,021 shares (+40.4%) to their portfolio in Q3 2025, for an estimated $12,802,324
- WELLINGTON MANAGEMENT GROUP LLP added 576,673 shares (+10.0%) to their portfolio in Q3 2025, for an estimated $11,118,255
- THRIVENT FINANCIAL FOR LUTHERANS added 297,050 shares (+2387.3%) to their portfolio in Q3 2025, for an estimated $5,727,124
- JPMORGAN CHASE & CO added 279,216 shares (+34.2%) to their portfolio in Q3 2025, for an estimated $5,383,284
- NORGES BANK removed 279,038 shares (-72.9%) from their portfolio in Q2 2025, for an estimated $4,891,536
- VANGUARD GROUP INC removed 239,859 shares (-1.6%) from their portfolio in Q3 2025, for an estimated $4,624,481
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$PFS Analyst Ratings
Wall Street analysts have issued reports on $PFS in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- DA Davidson issued a "Buy" rating on 07/28/2025
- Raymond James issued a "Strong Buy" rating on 06/26/2025
To track analyst ratings and price targets for $PFS, check out Quiver Quantitative's $PFS forecast page.
$PFS Price Targets
Multiple analysts have issued price targets for $PFS recently. We have seen 2 analysts offer price targets for $PFS in the last 6 months, with a median target of $22.5.
Here are some recent targets:
- Manuel Navas from DA Davidson set a target price of $24.0 on 07/28/2025
- Steve Moss from Raymond James set a target price of $21.0 on 06/26/2025
Full Release
ISELIN, N.J., Dec. 17, 2025 (GLOBE NEWSWIRE) -- Provident Bank , a leading New Jersey-based financial institution, has announced the appointment of two executives and the promotion of two leaders, rounding out a year of growth and expansion. These latest strategic new hires and promotions further underscore Provident’s commitment to sustainable growth, continued investment in technology, an exceptional customer experience, and meaningful community impact. Below are details on each executive and their role within Provident.
Satish Harikrishnan
has been promoted to Senior Vice President, Chief Technology Officer.
In this role, Mr. Harikrishnan is responsible for setting and executing the bank’s technology strategy to support business growth, operational efficiency, cybersecurity, and regulatory compliance. In addition, he will oversee enterprise technology platforms, infrastructure, application development, data capabilities, and vendor relationships while ensuring systems are secure, resilient, and aligned with the bank’s strategic priorities.
Under Mr. Harikrishnan’s leadership, the bank has made solid progress in strengthening its technology foundation across people, processes, and platforms. Among his many achievements, Mr. Harikrishnan spearheaded the establishment of a Network Operations Center, enhancing Provident’s infrastructure observability and bringing together a talented team, all of which have greatly bolstered the bank's operational resiliency. In addition, Mr. Harikrishnan set up the Enterprise Architecture function, which has been crucial in guiding the organization's direction on various technology initiatives.
“Satish’s leadership has played a key role in strengthening our technology foundation and operational resiliency,” said Ravi Vakacherla, Executive Vice President and Chief Information and Operations Officer. “His vision and execution have positioned the organization well for continued progress.”
Shyam Nair has joined the organization as Senior Vice President, Head of Data, Analytics, and Data Governance. Mr. Nair is responsible for defining and executing the organization's data strategy in alignment with overall business objectives and regulatory frameworks. In addition, he will lead enterprise-level data initiatives, including data architecture, engineering, integration, business intelligence and analytics (BIA), and governance, while ensuring performance, compliance, and scalability.
Mr. Nair has more than 20 years of experience leading technology strategy and transformation across major regional banks and fintech organizations. Prior to joining Provident, he spearheaded the end-to-end modernization of Texas Capital’s data and analytics ecosystem, building a single, modern, cloud-based data platform that significantly enhanced the bank's ability to leverage data for insight and decision-making.
“Shyam brings exceptional depth and vision in data and analytics, with a proven ability to modernize complex data environments at scale,” said Satish Harikrishnan, Senior Vice President, Chief Technology Officer. “His leadership will be instrumental as we advance our enterprise data strategy, strengthen governance, and leverage data-driven insights to support our business objectives and regulatory requirements.”
Linda Martin has been promoted to Senior Vice President, Regional Sales Manager for the Central Region. In this role, Ms. Martin is focused on achieving branch and regional sales goals while also meeting customers' needs and implementing strategies for providing an outstanding customer experience. In addition, she will be responsible for internal and external sales and marketing programs, branch operations, audit controls, income and expense levels, and supporting staff development and training.
Since joining Provident in 2023, Ms. Martin has consistently demonstrated exceptional leadership, a passion for placing her team, customers, and community at the center of her focus, and a strong commitment to Provident’s Guiding Principles.
“Linda is a proven leader who consistently puts her team, our customers, and our communities first,” said Renee Altomonte, Executive Vice President, Retail Banking Director. “Her strong sales acumen, operational expertise, and commitment to our Guiding Principles make her well suited to lead the Central Region. I am confident that under Linda’s leadership her teams will deliver an outstanding customer experience.”
Andrew Markey has joined the company as Senior Vice President, Team Leader, Commercial Real Estate. Mr. Markey is responsible for originating, evaluating and structuring commercial real estate transactions. He will work closely with institutional and private investors, owners and developers to offer a variety of deposit and lending solutions. In addition, he will lead a team of relationship managers and oversee a portfolio of commercial real estate customers based in central and northern New Jersey.
With over 30 years of experience, Mr. Markey is an accomplished commercial real estate lender and manager with extensive experience in New Jersey and Pennsylvania. Prior to joining Provident, he was Senior Vice President, Commercial Real Estate with Valley Bank, where he grew the loan portfolio and expanded the customer base while navigating regulatory requirements and managing an existing loan portfolio.
“Andrew brings deep industry experience and a strong track record of building and managing commercial real estate relationships,” said Philip Bringuier, Senior Vice President, Regional Director, Commercial Real Estate. “His expertise in originating and structuring complex transactions, combined with his knowledge of the New Jersey and Pennsylvania markets, will be a valuable asset to our customers and our growing CRE portfolio.”
About Provident Bank
Founded in Jersey City in 1839, Provident Bank is the oldest community-focused financial institution based in New Jersey and is the wholly owned subsidiary of Provident Financial Services, Inc. (NYSE:PFS). With assets of $24.83 billion as of September 30, 2025, Provident Bank offers a wide range of customized financial solutions for businesses and consumers with an exceptional customer experience delivered through its convenient network of more than 140 branches across New Jersey and parts of New York and Pennsylvania, via mobile and online banking, and from its customer contact center. The bank also provides fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust Company, and insurance services through its wholly owned subsidiary, Provident Protection Plus, Inc. To learn more about Provident Bank, go to
www.provident.bank
or call our customer contact center at 800.448.7768.
Media Contact
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