Provident Bank CFO Lyons to Retire After Long, Successful Career
Rhea-AI Summary
Provident Bank (NYSE:PFS) announced that Thomas M. Lyons, Senior Executive Vice President and Chief Financial Officer, plans to retire effective upon the earlier of June 30, 2026 or the appointment of his successor.
Mr. Lyons will remain in his CFO roles until a successor is named and then serve in an advisory capacity to support the transition. The company has launched a nationwide search and engaged an executive search firm. Lyons has been CFO since 2011, joined via a 2004 merger that helped grow assets from $6 billion at that time to nearly $25 billion today.
Positive
- CFO tenure of 17 years provides leadership continuity
- Executive search firm engaged for a nationwide successor search
- Retiring CFO will remain in an advisory role post‑appointment
- Assets grew from $6B (2004) to nearly $25B today
Negative
- Vacant CFO role until successor appointment or June 30, 2026
- Potential short‑term transition risk to financial leadership
News Market Reaction
On the day this news was published, PFS gained 0.61%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Regional bank peers PRK, BOH, BANC, WAFD, and WSBC all show negative moves today (e.g., WAFD down -1.34%), indicating broader sector softness even as PFS trades lower -1.69%.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 06 | Economic survey | Positive | +0.1% | 2026 economic outlook survey showing business investment and hiring intentions. |
| Jan 05 | Earnings call setup | Positive | +2.0% | Announcement of Q4 and year-end 2025 earnings release and conference call. |
| Dec 17 | Leadership changes | Positive | +0.4% | New executive hires and promotions in technology, data, sales and CRE. |
| Nov 25 | Community grants | Positive | +3.5% | Launch of $50,000 Crisis Response Fund to address food insecurity. |
| Nov 06 | Community grants | Positive | -1.0% | Announcement of $50,000 in grants to six nonprofits via SBRG Program. |
Recent company news has mostly been followed by positive price reactions, with only one notable divergence despite positive community-focused headlines.
Over the last few months, PFS news flow has centered on strategic outreach and operational updates. An economic outlook survey on Jan 6, 2026 and an earnings call scheduling on Jan 5, 2026 both saw modest gains. Executive hires and promotions on Dec 17, 2025 and community grant initiatives on Nov 25 and Nov 6, 2025 also generally coincided with positive moves, except one small decline. Today’s planned CFO retirement fits into a narrative of ongoing leadership evolution at a bank that has been steadily communicating growth and community initiatives.
Market Pulse Summary
This announcement details a planned retirement of PFS’s long-serving CFO, expected by June 30, 2026 or upon appointment of a successor, with an advisory transition period. The bank highlights long-term asset growth from $6 billion at a 2004 merger to nearly $25 billion today and emphasizes continuity through a nationwide search. Investors may monitor successor selection, upcoming earnings, and broader regional bank conditions to gauge how leadership change interacts with the existing growth trajectory.
AI-generated analysis. Not financial advice.
A search to name a successor is currently underway
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
“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
Media Contact:
Keith Buscio
Keith.Buscio@provident.bank
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b7fc9308-a448-44d4-81fb-1ae6f45e6207
FAQ
When will Provident Bank CFO Thomas Lyons retire (PFS)?
How long has Thomas Lyons served as Provident Bank CFO (PFS)?
What succession steps is Provident Bank taking for the CFO role (PFS)?
Will Thomas Lyons assist after his successor is named at Provident Bank (PFS)?
How large is Provident Bank after growth under Lyons (PFS)?
What is the potential impact of the CFO change on Provident Bank shareholders (PFS)?
