MONTEBELLO, NY--(Marketwire - Apr 30, 2012) - Provident Bank, a subsidiary of Provident New York Bancorp (NYSE: [ PBNY ]), announced it has established an Advisory Board for its New York City Metro Market. David S. Slackman will serve as Chairman. Mr. Slackman is a seasoned banker and has been active in the New York City market for 30 years. He most recently served as founding President for Commerce Bank where he grew the market organically from no presence in the market to $8 billion in assets in a just a few years. "David is the perfect choice for us to lead our new Advisory Board in New York City," said David S. Bagatelle, Executive Vice President and New York City Metro Market President for Provident Bank. "He brings a wealth of experience and success in this market and will help guide our growth plans here."

Earlier this year Provident Bank announced that it had entered the New York City market. Now, five commercial banking teams work out of the midtown Manhattan office. Provident Bank also announced in January that it had reached a definitive agreement to acquire Gotham Bank of New York. These new banking teams will be teamed with legacy Gotham Bank relationship teams to form a strong middle-market focused franchise in New York City once the transaction closes, which is expected in the third calendar quarter of 2012.

"Our new Advisory Board for New York City under David Slackman's leadership demonstrates our commitment to rapid growth in this market," said Jack Kopnisky, President and CEO of Provident Bank.

"Provident Bank has the strategic vision, talent, and commitment to become a strong contender in the commercial banking space in the New York Metro Market," said Mr. Slackman. "I am looking forward to working with David and Jack to support their vision."

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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