Provident Bank CFO Lyons to Retire After Long, Successful Career
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.
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
Details
News Market Reaction – PFS
On Jan 14, the first trading day after this news, PFS closed 0.61% above the previous close.
Data tracked by StockTitan Argus for the Jan 14 session.
Key Figures
- CFO tenure
- 17 years
- Service as Provident’s Chief Financial Officer
- Assets at 2004 merger
- $6 billion
- Assets after First Savings Bank merger in 2004
- Current assets
- nearly $25 billion
- Provident Bank assets at time of article
- Current share price
- $19.73
- Pre-news market context on publication day
- 52-week high
- $21.29
- 52-week trading range high
- 52-week low
- $14.335
- 52-week trading range low
- Market cap
- $2,579,792,084
- Market capitalization before this news
- Price change 24h
- -1.69%
- Move into this announcement
Historical Context
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2026 economic outlook survey showing business investment and hiring intentions.
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Announcement of Q4 and year-end 2025 earnings release and conference call.
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New executive hires and promotions in technology, data, sales and CRE.
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Launch of $50,000 Crisis Response Fund to address food insecurity.
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Announcement of $50,000 in grants to six nonprofits via SBRG Program.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-generated analysis. How Rhea-AI works. 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
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