Provident Bank appoints Bill Fink as Executive Vice President, Chief Lending Officer, to enhance commercial lending strategies.
Quiver AI Summary
Provident Bank has appointed Bill Fink as Executive Vice President and Chief Lending Officer, bringing over 30 years of commercial banking experience to lead the bank's commercial lending strategy. Fink will oversee a $16 billion loan portfolio and manage a team of 250 employees across New Jersey, New York, and Pennsylvania. His responsibilities will include business development, loan portfolio management, and policy management across various commercial lending areas. Fink's previous leadership roles at TD Bank, N.A., along with his educational background, position him well to drive growth and innovation at Provident Bank. He aims to enhance customer relationships, optimize lending products, and strengthen the bank's market presence. Provident Bank, established in 1839, offers a range of financial solutions and operates 140 branches in the region.
Potential Positives
- The appointment of Bill Fink as Executive Vice President and Chief Lending Officer enhances Provident Bank's leadership team and brings extensive experience in commercial banking, which can drive the bank's commercial lending growth strategy.
- Fink's responsibility for overseeing a $16B loan portfolio and leading a team of 250 employees positions him to implement effective lending initiatives and optimize portfolio management, ensuring alignment with market opportunities.
- His proven track record in commercial banking and credit administration, including his experience at TD Bank, indicates a potential for innovative approaches to expand the bank's loan portfolio and improve customer relationships.
- The strategic collaboration between Fink and the Executive Leadership Team could foster a culture of innovation and excellence, reinforcing Provident Bank’s mission to grow and redefine the super community banking space.
Potential Negatives
- The announcement of a new Executive Vice President might signal internal changes or instability within the company, which could raise concerns among stakeholders about leadership consistency.
- Bill Fink’s previous role involved oversight of a significantly larger portfolio ($24 billion at TD Bank), which may raise questions about his capability to manage a $16 billion portfolio at Provident Bank.
- The press release lacks specific details on how Mr. Fink's strategies will differentiate Provident Bank in a competitive market, potentially leading to skepticism about the bank's growth prospects.
FAQ
Who is Bill Fink and what is his new role at Provident Bank?
Bill Fink has been appointed as Executive Vice President and Chief Lending Officer at Provident Bank, overseeing commercial lending strategies.
What is Bill Fink's experience in commercial banking?
Bill Fink brings over 30 years of experience in commercial banking and credit administration, previously leading significant portfolios at TD Bank.
How will Bill Fink impact Provident Bank's lending strategy?
Fink will expand the bank's loan portfolio, develop new lending products, and enhance credit policies to drive sustainable growth.
What portfolio will Bill Fink oversee at Provident Bank?
He will oversee a $16 billion loan portfolio and lead a team of 250 employees across New Jersey, New York, and Pennsylvania.
What educational qualifications does Bill Fink hold?
Bill Fink holds an MBA in Management & Finance, a Bachelor of Science in Marketing, and is a CPA and CGMA.
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 11 times in the past 6 months. Of those trades, 0 have been purchases and 11 have been sales.
Here’s a breakdown of recent trading of $PFS stock by insiders over the last 6 months:
- EDWARD J LEPPERT sold 69,921 shares for an estimated $1,442,470
- CHRISTOPHER P MARTIN (Executive Chairman) sold 18,153 shares for an estimated $374,296
- WALTER SIEROTKO (EVP of Provident Bank) sold 15,418 shares for an estimated $325,366
- VITO GIANNOLA (EVP & CRBO of provident Bank) has made 0 purchases and 6 sales selling 12,000 shares for an estimated $216,484.
- FRANK L FEKETE sold 6,209 shares for an estimated $133,183
- JAMES A. CHRISTY (EVP, CRO of Provident Bank) sold 3,500 shares for an estimated $73,080
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$PFS Hedge Fund Activity
We have seen 115 institutional investors add shares of $PFS stock to their portfolio, and 120 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- HSBC HOLDINGS PLC removed 2,414,876 shares (-60.4%) from their portfolio in Q3 2024, for an estimated $44,820,098
- PL CAPITAL ADVISORS, LLC added 2,399,351 shares (+1787.0%) to their portfolio in Q4 2024, for an estimated $45,275,753
- WELLINGTON MANAGEMENT GROUP LLP added 1,840,633 shares (+13182.2%) to their portfolio in Q3 2024, for an estimated $34,162,148
- STATE STREET CORP added 713,688 shares (+10.2%) to their portfolio in Q3 2024, for an estimated $13,246,049
- JANE STREET GROUP, LLC removed 691,087 shares (-92.7%) from their portfolio in Q3 2024, for an estimated $12,826,574
- D. E. SHAW & CO., INC. removed 647,857 shares (-95.4%) from their portfolio in Q3 2024, for an estimated $12,024,225
- DEUTSCHE BANK AG\ removed 622,064 shares (-88.6%) from their portfolio in Q3 2024, for an estimated $11,545,507
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
ISELIN, N.J., Feb. 11, 2025 (GLOBE NEWSWIRE) -- Provident Bank, a leading New Jersey-based financial institution, is pleased to announce the addition of Bill Fink as Executive Vice President, Chief Lending Officer, leading the commercial bank and the commercial lending growth strategy.
Mr. Fink has over 30 years of experience in commercial banking and credit administration and will lead and direct the bank’s commercial lending strategies, including new business development, loan portfolio management, and policy management for all commercial business lines, including C&I, commercial real estate, treasury management, and specialty lines. His expertise in structuring complex credit transactions and developing innovative approaches will help expand the bank’s loan portfolio and drive sustainable growth consistent with the bank’s risk appetite. In addition to overseeing lending initiatives, given his deep commercial banking experience, Mr. Fink will serve as a strategic advisor, collaborating closely with Provident’s Executive Leadership Team.
“I’m excited to begin a new chapter in my career where I can support Provident Bank’s mission to redefine the super community banking space,” said Bill Fink, Executive Vice President and Chief Lending Officer . “With a strong foundation and clear momentum, I look forward to using my experience in commercial lending to drive growth, strengthen customer relationships, and foster a culture of innovation and excellence that supports Provident Bank’s business strategy.”
Mr. Fink will oversee a $16B loan portfolio and lead a team of eight direct reports and a total team of 250 employees based in New Jersey, New York, and Pennsylvania. He will also oversee portfolio management and credit risk, ensuring the bank’s lending strategies align with market opportunities and long-term objectives. Mr. Fink will contribute to enhancing credit policies, introducing new lending products, and optimizing the portfolio mix to ensure the bank is providing the best solution to its customers. Additionally, he will represent the bank at industry events and public engagements, strengthening relationships with customers and partners, while reinforcing Provident’s market presence.
"Bill is an exceptional leader, bringing broad expertise in commercial banking with a vision for driving growth and innovation,” said Anthony Labozzetta, President and CEO, Provident Bank . “I am thrilled to welcome him to our team as we enhance our commercial lending capabilities, deepen customer relationships, and position our bank for long-term success."
Mr. Fink brings two decades of leadership experience at TD Bank, N.A., where he held key senior roles across regional and national markets. Most recently, he served as EVP and Head of U.S. Middle Market Banking, leading TD’s nationwide expansion strategy for Middle Market and Asset-Based Lending and overseeing a $24 billion portfolio. Previously, as EVP, Chief Lending Officer, and Head of Credit Management for TD’s U.S. Commercial Banking Division, he played a critical role in credit oversight and risk management.
Mr. Fink holds an MBA in Management & Finance and a Bachelor of Science in Marketing from St. Joseph’s University. He is also a Certified Public Accountant (CPA) and Chartered Global Management Accountant (CGMA). In addition, he completed the Advanced Finance Postgraduate Program at the Wharton School of the University of Pennsylvania and is a member of the Executive Education Board of Directors at The Wharton School, University of Pennsylvania.
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 $24.05 billion as of December 31, 2024, 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 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:
Provident Bank
Keith Buscio –
[email protected]
Vested –
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1dab4f57-ba76-4ff3-9ba9-48d91a5dc47c
