Provident Bank”™s longtime president and CEO George Strayton is retiring after 25 years with the institution.
Strayton, who started out in banking “working on a handshake,” has spent the bulk of his career at Provident and been its president and CEO since 1986. He will remain involved as a member of the board of directors.
After a yearlong search, Jack Kopnisky was selected to succeed Strayton.
“I have been actively involved with the board”™s search for my successor. Mr. Kopnisky is the right person at the right time for Provident Bank,” Strayton said.
Under Strayton”™s leadership, Provident evolved into a publicly traded institution, made several successful acquisitions, saw a tenfold increase in deposits, and achieved a positive market position and reputation. Now, at $2.9 billion in assets, Provident Bank is the largest community bank in the region.
He also built a strong commitment to the community for Provident Bank through its business-lending practices and charitable-giving activities. Strayton has held chairmanship roles in many community organizations over the years.
“George Strayton is leaving a legacy of growth and community leadership. It has been an honor to work with him for nearly three decades,” said William F. Helmer, chairman of the board of Provident New York Bancorp. “We are pleased he has agreed to remain on the board where we will continue to benefit from his knowledge and experience. He leaves behind an extremely strong and talented management team that will continue to serve us well.”
Strayton said, “I”™m extremely gratified by the success we”™ve achieved during my tenure and I could not be prouder of all that has been accomplished by our employees. Provident Bank is performing consistently and is well positioned for continued success in the future. The years I have been at Provident Bank have been very rewarding. While the bank grew and prospered, my wife, Vicky, and I raised our children into adulthood, and we now have a grandchild. I am looking forward to spending more time with my family and traveling.”
“I am looking forward to building a best-in-class financial services company,” said Kopnisky, who has a strong background in financial and banking management. “I am impressed with the resources and strong foundation for growth that has been built at Provident and am eager to leverage the capabilities to deliver strong results to our investors, exceptional service to our clients and a terrific work environment for employees.”
Kopnisky, 55, has been CEO of SJB Escrow Corp., a $1.1 billion investment pool, since 2009. He also has been a partner in Mercatus, a national financial services consulting and investing firm since 2008.
From 2005 until 2008, Kopnisky was president and CEO of First Marblehead Corp., a packager of educational loans. Kopnisky also served in a variety of leadership positions with KeyCorp and its predecessors from 1998 to 2005.
Headquartered in Montebello, Provident Bank is the largest independent full-service community bank in the lower Hudson Valley. It operates 35 branches serving the Hudson Valley region, including three commercial banking centers in Westchester County and one office in Bergen County, N.J.
George is a wonderful man, I wish him all the best in “semi-retirement.” Even if he grew up as a Dodgers fan! I might be wrong on this, and if so, my abject apologies. It was great for Provident to earn the naming rights to the new ballpark in Pomona, and George has to take some credit for that as he evolves into his new role.