George Strayton Named Board Member of
Federal Home Loan Bank of New York
Contact: Eric Amig - 212 441-6807 |
July 17, 2006 |
New York, N.Y. – George Strayton, President and Chief Executive Officer of Provident Bank, Montebello, N.Y., was elected on June 15, 2006, as a Director by the Board of Directors (“Board”) of the Federal Home Loan Bank of New York (“FHLBNY”). Mr. Strayton is filling the unexpired term of Harry Doherty, Vice Chairman of Independence Community Bank, who resigned due to the merger of Independence into a non-member institution. The term expires on December 31, 2008.
Mr. Strayton is an experienced FHLBNY Board member. He was elected to two three-year terms on the FHLBNY Board, serving from 1994 to 1999.
“We are delighted to have George rejoin the Board,” said Alfred DelliBovi, President of the FHLBNY. “The Board and the Bank will again benefit from his financial expertise in home mortgage and community finance as well as of his understanding of the localities that make up New Jersey and New York.”
“I am honored to be elected to the Board of Directors of the Home Loan Bank of New York,” said George Strayton, President and CEO of Provident Bank. “I look forward to work to ensure that the Home Loan Bank continues to play its vital role to provide funding for housing and community development.”
Mr. Strayton joined Provident Bank in 1982 and was named President and CEO in 1986. He joined Provident Bank after 18 years with Bankers Trust Company. Provident Bank is a full-service community bank that offers a wide range of financial products and services with local decision making, a personalized focus on customer needs and a unique, in-depth understanding of the New York marketplace.
Headquartered in Montebello, N.Y., Provident Bank, with over $2.7 billion in assets, is an independent community bank. Provident Bank operates 33 branches that serve the Hudson Valley region, including two offices in Bergen County, N.J. The bank offers a complete line of commercial, retail and investment management and trust services. Visit the Provident Bank website at www.providentbanking.com.
Mr. Strayton is a dedicated community leader. He serves as a director of the New York Bankers Association and a board member of America’s Community Bankers. He also serves as a director of Orange & Rockland Utilities and the New York Business Development Corporation. Mr. Strayton’s career also includes chairmanships of the Community Bankers Association of New York State, Rockland Business Association, Rockland County Boy Scouts of America, and Rockland United Way, among other local organizations.
The Federal Home Loan Bank of New York is an $85 billion, Congressionally chartered, wholesale Bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 12 regional, stockholder-owned banks. The Federal Home Loan Bank of New York serves 300 community lenders in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The mission of the Home Loan Bank is to advance housing opportunity and local community development by maximizing the capacity of community-based member-lenders to serve their markets.
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