Provident Bank Expands Business Lending Support Team

MONTEBELLO, NY--(Marketwire - May 4, 2012) - Provident Bank, a subsidiary of Provident New York Bancorp (NYSE: PBNY), announced it has appointed Denice Aloi-McConnell as Market Credit Executive. She will be responsible for working with business and commercial bankers on lending solutions for their clients with a focus in Rockland County and New Jersey. In addition to structuring and approving commercial transactions, Denice will also work with the Chief Credit Officer in developing analytics and systems to better evaluate risks within the various loan portfolios.

Ms. Aloi-McConnell is a career banker with over 30 years of experience. Her most recent experience includes Sterling National Bank where she served as First Vice President and Department Head for Credit Risk Administration. Over the years, she has held positions in Commercial Middle Market Banking, Commercial Real Estate and Small Business Lending.

"Denice brings a breadth of experience in commercial credit along with a deep understanding of our local market," said John Oliver, Senior Vice President and Chief Credit Officer for Provident Bank. "We are very pleased she has joined the Provident Bank team."

Denice Aloi-McConnell's photograph is available on request.

Headquartered in Montebello, N.Y., Provident Bank, with $3.2 billion in assets, specializes in the delivery of service and solutions to business owners, their families, and consumers in communities within the greater New York City marketplace through teams of dedicated and experienced relationship managers. Our franchise includes 36 Financial Centers. Provident Bank offers a complete line of commercial, business, and consumer banking products and services. For more information, visit the Provident Bank Web site at www.providentbanking.com.

FORWARD-LOOKING STATEMENTS AND ASSOCIATED RISK FACTORS
Any statements contained herein that are not statements of historical fact, including those that anticipate future growth, may be deemed to be forward-looking statements. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that may adversely affect the Company's ability to realize its plans. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release. There are a number of important factors described in documents filed by the Company with the Securities and Exchange Commission and other factors that could cause the Company's actual results to differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.