MONTEBELLO, NY--(Marketwire - Mar 26, 2012) - Provident Bank, a subsidiary of Provident New York Bancorp (NYSE: [ PBNY ]), announced today that it has hired a new Commercial Banking team in the New York City Market. The addition of this team in New York City brings the total number of Provident Bank teams dedicated to serving the needs of businesses throughout the franchise to 13. This new team will operate out of the midtown Manhattan office and is the fifth Commercial Banking team added to the New York Metro Market.

"We continue to attract top talent to our brand of relationship banking," said Jack Kopnisky, President and CEO of Provident Bank. "We look forward to the contributions this team will make to our expanding franchise."

Eric G. Tamm, who has over 15 years of banking experience in New York City, was named Senior Vice President and Managing Director of this team. He most recently served as Managing Director for First Republic Bank, where he built a significant portfolio of high net worth clients. He had previously served as Vice President for M&T Bank where he held a dual role in Private Banking and Health Care Finance.

Lisa A. Reardon was named Vice President and Associate Managing Director. Ms. Reardon has been successfully serving high net worth clients in the New York City Market for nearly 10 years and joined Provident Bank from Gibraltar Private Bank and Trust where she served as Vice President, Private Banking. Previously she held a similar position with First Republic Bank.

Seth Dolce was also named Vice President and Associate Managing Director. Mr. Dolce has focused on real estate lending for nearly 10 years and joined Provident Bank from Gibraltar Private Bank and Trust where he served as Vice President, Real Estate Lending. Seth has a history of success in real estate lending and was a top-rated producer at both Wells Fargo and Bank of America.

"Eric, Lisa and Seth bring to Provident Bank an impressive record of success in relationship management, loan originations, and new business development," said David Bagatelle, New York City Metro Market President for Provident Bank. "They will play a leading role in developing and managing commercial banking relationships in the New York City marketplace."

Headquartered in Montebello, N.Y., Provident Bank, with $3.1 billion in assets, specializes in the delivery of service and solutions to business owners, their families, and consumers in communities within the greater New York City marketplace through teams of dedicated and experienced relationship managers. Our franchise includes 36 Financial Centers. Provident Bank offers a complete line of commercial, business, and consumer banking products and services. For more information, visit the Provident Bank Web site at [ www.providentbanking.com ].

FORWARD-LOOKING STATEMENTS AND ASSOCIATED RISK FACTORS
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