Provident Expands Commercial Lending Team as Part of Regional Growth Strategy for Eastern Pennsylvania
Provident Bank announces the addition of six experienced commercial lenders to strengthen its presence in eastern Pennsylvania. The new team members - Matthew Moresco, Matthew Skilton, Gerald Bresser, Michael Valenzano, Patrick Beaner, and Daniel Decker - bring over 100 years of combined experience in financial services. The strategic hires include two Senior Vice Presidents as Commercial Banking Team Leaders and four Vice Presidents specializing in C&I and CRE relationship management. This expansion aims to drive commercial loan and deposit growth while enhancing the bank's non-bank products and customer experience in the region.
Banca Provident annuncia l'aggiunta di sei esperti finanziatori commerciali per rafforzare la propria presenza nella Pennsylvania orientale. I nuovi membri del team - Matthew Moresco, Matthew Skilton, Gerald Bresser, Michael Valenzano, Patrick Beaner e Daniel Decker - portano oltre 100 anni di esperienza combinata nei servizi finanziari. Le assunzioni strategiche includono due Vice Presidenti Senior come Team Leader del Settore Bancario Commerciale e quattro Vice Presidenti specializzati nella gestione delle relazioni C&I e CRE. Questa espansione mira a stimolare la crescita dei prestiti commerciali e dei depositi, migliorando al contempo i prodotti non bancari e l'esperienza del cliente nella regione.
Banco Provident anuncia la incorporación de seis prestatarios comerciales experimentados para fortalecer su presencia en el este de Pennsylvania. Los nuevos miembros del equipo - Matthew Moresco, Matthew Skilton, Gerald Bresser, Michael Valenzano, Patrick Beaner y Daniel Decker - aportan más de 100 años de experiencia combinada en servicios financieros. Las contrataciones estratégicas incluyen dos Vicepresidentes Senior como Líderes del Equipo de Banca Comercial y cuatro Vicepresidentes especializados en la gestión de relaciones C&I y CRE. Esta expansión tiene como objetivo impulsar el crecimiento de préstamos comerciales y depósitos, mejorando al mismo tiempo los productos no bancarios y la experiencia del cliente en la región.
프러비던트 은행은 동부 펜실베니아에서의 입지를 강화하기 위해 여섯 명의 경험 많은 상업 대출자를 추가한다고 발표했습니다. 새로운 팀원인 매튜 모레스코, 매튜 스킬턴, 제랄드 브레서, 마이클 발렌자노, 패트릭 비너, 다니엘 데커는 금융 서비스 분야에서 100년 이상의 경험을 제공합니다. 전략적 채용에는 상업 은행 팀 리더로서 두 명의 수석 부사장과 C&I 및 CRE 관계 관리 전문의 네 명의 부사장이 포함됩니다. 이번 확장을 통해 상업 대출 및 예금 성장을 촉진하고, 지역 내 비은행 제품과 고객 경험을 강화하는 것이 목표입니다.
La Banque Provident annonce l'ajout de six prêteurs commerciaux expérimentés pour renforcer sa présence dans l'est de la Pennsylvanie. Les nouveaux membres de l'équipe - Matthew Moresco, Matthew Skilton, Gerald Bresser, Michael Valenzano, Patrick Beaner et Daniel Decker - apportent plus de 100 ans d'expérience combinée dans les services financiers. Les recrutements stratégiques comprennent deux Vice-Présidents Seniors en tant que Chefs d'Équipe de Banque Commerciale et quatre Vice-Présidents spécialisés dans la gestion des relations C&I et CRE. Cette expansion vise à stimuler la croissance des prêts commerciaux et des dépôts tout en améliorant les produits non bancaires et l'expérience client dans la région.
Provident Bank gibt die Erweiterung seines Teams um sechs erfahrene Geschäftskreditgeber bekannt, um seine Präsenz im östlichen Pennsylvania zu stärken. Die neuen Teammitglieder - Matthew Moresco, Matthew Skilton, Gerald Bresser, Michael Valenzano, Patrick Beaner und Daniel Decker - bringen über 100 Jahre kombinierte Erfahrung im Finanzdienstleistungsbereich mit. Zu den strategischen Einstellungen gehören zwei Senior Vice Presidents als Teamleiter im Bereich Commercial Banking und vier Vice Presidents, die auf das Beziehungsmanagement im C&I- und CRE-Bereich spezialisiert sind. Diese Expansion zielt darauf ab, das Wachstum von Geschäftskrediten und Einlagen voranzutreiben und gleichzeitig die nicht-bankenbezogenen Produkte und die Kundenerfahrung in der Region zu verbessern.
- Strategic expansion of commercial lending team with 6 experienced professionals
- Addition of senior leadership with proven track records in commercial banking
- Geographic expansion into eastern Pennsylvania market
- None.
Insights
This hiring announcement reflects a significant expansion of Provident Bank's commercial lending capabilities in eastern Pennsylvania, but has immediate impact on stock performance. While the addition of six experienced lenders with over 100 years of combined experience strengthens their market position, particularly in C&I and CRE lending, the financial impact will take time to materialize.
Most notably, the strategic poaching of talent from Republic Bank, TD Bank and Truist Bank suggests an aggressive growth strategy in the competitive Philadelphia metro market. The team's extensive experience in commercial real estate and business lending could drive loan portfolio growth and fee income generation in the medium term. However, investors should note that the associated costs of these senior hires may impact near-term expenses.
Bank Adds 6 Experienced Lenders to its C&I And CRE Teams, Representing 100+ Years of Combined Industry Experience
PLYMOUTH MEETING, Pa., Nov. 19, 2024 (GLOBE NEWSWIRE) -- Provident Bank, a leading community-focused financial institution, is pleased to announce the addition of six experienced lenders in the commercial banking space: Matthew Moresco, Matthew Skilton, Gerald Bresser, Michael Valenzano, Patrick Beaner, and Daniel Decker. These strategic hires come as part of the company’s efforts to strengthen its presence and commitment to businesses throughout eastern Pennsylvania.
These individuals possess more than 100 years of combined experience in the financial services industry, bringing deep market knowledge, and proven operational success to their respective roles. Each new team member will drive commercial loan and deposit growth, while expanding Provident’s non-bank products with customers in the region. The addition of these team members will enable Provident to further enhance its customer experience, scale operations, and accelerate growth across eastern Pennsylvania.
- Matthew Moresco, joining as Senior Vice President, Commercial Banking Team Leader, was most recently an SVP at Republic Bank and previously with Commerce Bank and TD Bank. With more than 25 years in commercial lending Matthew brings his expertise and market knowledge to the bank. At Republic Bank he directed a team of commercial bankers managing relationships and business development across Suburban Pennsylvania and Southern New Jersey.
- Matthew Skilton, joining as Senior Vice President, Commercial Banking Team Leader, is a former SVP at Republic Bank where he led a team of commercial bankers in the City of Philadelphia and Metro Philadelphia markets. With more than 20 years of commercial banking experience, he has a proven track record in business development, portfolio management, and SBA lending. Matthew has previously held banking positions with Commerce Bank and TD Bank.
- Gerald Bresser, joining as Vice President, C&I Relationship Manager, is an experienced Commercial Lender with more than two decades of expertise at Republic Bank, TD Bank and Commerce Bank. He has successfully managed commercial loan portfolios, focusing on C&I and CRE loans. He has a strong background in credit analysis, relationship management, and lending across a wide range of industries.
- Michael Valenzano, joining as a Vice President, C&I Relationship Manager, is a former Assistant Vice President and Relationship Manager at Republic Bank where he excelled at business development as a Commercial and Real Estate Lender in the Metro Philadelphia market.
- Patrick Beaner, joining as a Vice President, CRE Relationship Manager, is a seasoned commercial real estate lender formerly from Univest Bank & Trust Co. With more than 15 years of expertise in commercial real estate (CRE) and finance, he developed and managed a substantial CRE portfolio, consistently closing multimillion-dollar deals and generating significant fee income. Patrick will work closely with institutional and private real estate investors, owners and developers to offer a variety of deposit and lending solutions.
- Daniel Decker, joining as a Vice President, CRE Relationship Manager, brings more than 35 years of industry experience to the team. Most recently, he was a Vice President and CRE relationship manager with Truist Bank, where he managed a considerable CRE portfolio and drove new loan production for commercial real estate and construction financing throughout New Jersey and the Delaware Valley. Daniel has also held positions with Fulton Bank, Commerce Bank, and Liberty Bell Bank.
“I am thrilled to welcome Matthew, Matt, Gerald, and Michael, to the team,” said John Andreacio, Senior Vice President, Regional Director, Commercial Lending. “As we extend our reach and capabilities across eastern Pennsylvania, their leadership and insights into the local markets will be instrumental in positioning us for success. Their experience will help us continue to meet the financial needs of businesses in the region.”
"As we continue to grow our commercial real estate team, Patrick’s and Daniel’s experience and ability to understand the credit needs of real estate owners and developers will strengthen our presence throughout eastern Pennsylvania,” shared Christine Carpenter, Senior Vice President, Regional Director, CRE Lending.
To learn more about Provident Bank’s commercial lending services and solutions click here.
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:
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FAQ
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