Provident Bank announces CFO Thomas M. Lyons' retirement, effective June 30, 2026, or upon successor appointment.
Quiver AI Summary
Provident Bank announced the planned retirement of Thomas M. Lyons, Senior Executive Vice President and Chief Financial Officer, effective on or before June 30, 2026, or upon the appointment of his successor. Mr. Lyons will assist with the transition in an advisory role after a successor is named, with a nationwide search already underway. President and CEO Anthony Labozzetta praised Lyons for his significant contributions to the bank's growth and commitment to shareholder value during his tenure since 2011. Lyons joined Provident through the 2004 merger with First Savings Bank and has played a crucial role in the bank's expansion from $6 billion to nearly $25 billion in assets. He expressed gratitude for his time at the bank and confidence in its future growth.
Potential Positives
- Provident Bank has initiated a nationwide search for a new Chief Financial Officer, which demonstrates proactive leadership and commitment to finding the right successor for continued growth.
- The statement highlights the bank's significant growth, increasing from $6 billion to nearly $25 billion in assets, reflecting strong performance and market position.
- Mr. Lyons' tenure as CFO since 2011 is emphasized, indicating stability and continuity in financial leadership during a critical growth period for the bank.
- The positive remarks from the President & CEO about Mr. Lyons' contributions signify strong internal support and recognition of effective leadership, which may bolster employee confidence and morale.
Potential Negatives
- Leadership transition may create uncertainty for investors and stakeholders, as Mr. Lyons has been instrumental in the bank's growth and performance since 2011.
- The need for an executive search suggests potential instability within the executive team, which could affect the company's ongoing operations and strategic direction.
- Mr. Lyons' retirement could be perceived as a loss of institutional knowledge and experience, which may impact the bank's ability to navigate future challenges effectively.
FAQ
What are the retirement plans for Thomas M. Lyons?
Thomas M. Lyons will retire on or before June 30, 2026, after appointing his successor.
How long has Thomas M. Lyons been with Provident Bank?
Thomas M. Lyons has served as Chief Financial Officer since 2011, totaling 17 years with the bank.
What role will Thomas M. Lyons play after retirement?
He will assist in an advisory capacity to support the transition after his successor is appointed.
What is Provident Bank's current asset size?
As of September 30, 2025, Provident Bank has approximately $24.83 billion in assets.
How does Provident Bank serve its customers?
Provident Bank offers customized financial solutions through over 140 branches and online banking across New Jersey, 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 134 institutional investors add shares of $PFS stock to their portfolio, and 114 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ASSENAGON ASSET MANAGEMENT S.A. added 761,427 shares (+2957.6%) to their portfolio in Q4 2025, for an estimated $15,038,183
- 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
- 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 1 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
To track analyst ratings and price targets for $PFS, check out Quiver Quantitative's $PFS forecast page.
Full Release
ISELIN, N.J., Jan. 13, 2026 (GLOBE NEWSWIRE) -- Provident Bank , a leading New Jersey-based financial institution, announced today the planned retirement of Thomas M. Lyons, Senior Executive Vice President and Chief Financial Officer of Provident Financial Services and Provident Bank, which is expected to occur upon the earlier of June 30, 2026, or the appointment of his successor.
Mr. Lyons will continue to serve in these roles until his successor’s appointment. Following the selection of a successor, he will continue in an advisory capacity to assist with the transition. Provident Bank has initiated a nationwide search for a replacement, engaging an executive search firm to assist in the process.
“Tom’s commitment to delivering top-tier financial performance and creating long-term shareholder value has been an integral part of our journey to become the leading super community bank in our region,” said Anthony Labozzetta, President & CEO. “I am grateful for his strategic leadership, valued partnership, and tireless commitment to our organization. He leaves a long lasting positive impact on our company, team members, and shareholders. On behalf of the board and all of us at Provident Bank, we wish Tom a heartfelt thank you and all the best for this next chapter of his life!”
Mr. Lyons has served as Chief Financial Officer of Provident Bank since 2011 and has played a key role in the bank’s growth and performance. He joined Provident through the merger with First Savings Bank in 2004, which enabled Provident to grow to $6 billion in assets at that time. Today, Provident Bank has grown to nearly $25 billion in assets, and is serving businesses and consumers in New Jersey, New York, and Pennsylvania.
“It has been a great privilege to serve as Provident’s Chief Financial Officer for the past 17 years and to work alongside Tony and our talented and dedicated team of banking professionals,” said Mr. Lyons. “Together, we have realized significant accomplishments, navigated numerous challenges and built a strong foundation for the future. Provident is well-positioned to continue generating sustainable, profitable growth and building long-term value for our shareholders.”
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:
Keith Buscio
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b7fc9308-a448-44d4-81fb-1ae6f45e6207
