New Position to Spearhead Bank's Long-Term Growth and Market Alignment

ISELIN, N.J., Aug. 06, 2025 (GLOBE NEWSWIRE) -- Provident Bank, a leading New Jersey-based financial institution, has announced that Michael A. Perito has joined the organization as Senior Vice President and Head of Corporate Strategy. In this newly created role, Mr. Perito will be responsible for overseeing the development and execution of the bank's overall strategic plan, identifying growth opportunities, and ensuring the bank's strategy aligns with its goals within the regional banking landscape. He will report to Adriano Duarte, Executive Vice President, Chief Accounting Officer.

「I am pleased to welcome Michael to Provident Bank," said Mr. Duarte. 「His proven expertise in strategic planning and understanding of market trends will be crucial in shaping Provident's strategy to grow while continuing to deliver value for all stakeholders."

Mr. Perito brings nearly 15 years of experience driving strategic growth and innovation within the financial services and fintech industries. His background includes leading research efforts on critical industry trends, advising senior executives on strategic planning, and managing and developing teams in complex financial environments.

"I am thrilled to join an institution with a proven track record of excellence and a commitment to delivering an exceptional experience to its customers,」 said Mr. Perito. 「I look forward to contributing to a strategy that is built for the evolving banking landscape, while continuing to ensure that our customers, employees, shareholders, and communities remain at the center of all that we do."

Mr. Perito joins Provident Bank from The Travillian Group, where he founded their bank consulting practice and served as Principal, Head of Bank Strategy. His expertise includes strategic and financial planning, investor relations, corporate development, and digital strategy. He has worked directly with CEOs, CFOs, and board members in developing growth driven corporate strategy within the financial services sector. Prior to this, he served as a Managing Director, Equity Research – Banks, Financial Technology at Keefe, Bruyette & Woods, a Stifel Company, where he covered more than 30 fintech-enabled and regional banks and led the firm's Bank-Technology research efforts.

Mr. Perito holds a Bachelor of Science in Business Administration with a major in Finance and a minor in Real Estate from Villanova University.

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 $24.55 billion as of June 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 - Keith.Buscio@provident.bank
Vested - Providentbank@fullyvested.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5b09dc9e-c6cc-4ae4-9347-ba67033d6e15