Oradell, New Jersey, September 12, 2025
News Summary
Ascendia Bank, formerly Glen Rock Savings Bank, completed a formal rebrand and announced senior leadership additions to strengthen commercial lending and cybersecurity. The bank appointed a new CEO earlier in the year and added veteran leaders to lead commercial lending and information security. Ascendia opened a new 3,300-square-foot branch in Oradell with drive-up windows and a 24/7 walk-up ATM, and held a community grand opening. The bank also rolled out limited-time deposit and checking promotions and upgraded its mobile platform to enhance account opening, deposits, bill pay and mortgage applications.
Ascendia Bank launches new brand, names CEO and senior leaders as it expands branch and tech offerings
Ascendia Bank, the century-old northern New Jersey institution formerly known as Glen Rock Savings Bank, has unveiled a new name and stepped up its leadership and branch network as it moves toward its 100th anniversary. The rebrand became effective on Oct. 25 and does not reflect any change in ownership or staff reductions.
Top-line developments
The bank installed John D. Allen IV as its president and chief executive officer, with his formal start date recorded as Aug. 25. Two senior executives joined to strengthen key functions: Jonathan Jacobs as vice president and commercial lending manager, and Paul Skinner as senior vice president and chief information security officer. The institution also opened a new branch in Oradell and rolled out expanded mobile banking features and promotional account offerings tied to the branch opening.
Leadership moves and roles
John D. Allen IV arrives with experience in community investment and bank finance, including capital-raising work for community projects and senior finance roles at other firms. He is a licensed CPA with degrees in accounting and advanced banking leadership training. The bank’s long-serving president and CEO, Ferdinand R. Viaud, will act as an advisor until his retirement in January 2026 and will remain on the board after that date.
Jonathan Jacobs joins with more than 20 years in commercial lending and credit. He will manage commercial lending operations, including underwriting and review of commercial real estate applications, preparing loan approval memoranda, and ongoing client support. His responsibilities explicitly include oversight of construction loans and leadership of a team that includes commercial loan administrators, credit analysts, and loan processors. Jacobs’ background includes portfolio management roles with portfolios exceeding $90 million and prior positions at regional lending institutions.
Paul Skinner brings over four decades of banking IT and operations leadership. He will manage information systems, technology infrastructure and data processing operations, and oversee IT policies, system design and programming, network and database management, cybersecurity, and disaster recovery planning. His experience includes leading core system conversions, infrastructure upgrades, digital and mobile platform launches, and complex integrations while maintaining compliance and improving operational efficiency.
Branch expansion and local response
The bank opened a new 3,300-square-foot Oradell branch at 550 Kinderkamack Road, its fifth branch and second in Bergen County. The grand opening drew hundreds of residents and featured a ribbon-cutting with the local mayor. Many attendees opened new accounts, and the event included an Instant Cash Giveaway and branded giveaways. The site had previously housed a credit union and was chosen in part for its history as a financial services location.
The new branch offers two drive-up windows and a walk-in ATM available 24/7. To mark the opening, the bank launched several limited-time promotions, including special short-term certificates, tiered money market and savings offers, and branded cash-back checking and savings products. Due to strong interest, the bank indicated it will continue those promotional offerings.
Technology, services and operations
Ascendia has expanded its mobile banking tools to let customers open accounts and apply for mortgages via smartphone, deposit checks remotely, pay bills and monitor account activity. The bank emphasized that these enhancements combine neighborhood-style service with conveniences often found at larger banks. The institution also opened a new headquarters last year that includes a dedicated mortgage lending center as part of recent operational upgrades.
Background and strategy
The institution traces its roots to 1922 when it was founded as the Building and Loan Association of Ridgewood to provide local residents with fair returns on savings and secure home mortgages. The bank adopted the Glen Rock Savings Bank name in 1937 and has served personal and commercial customers in northern New Jersey ever since. The recent name change to Ascendia Bank was announced ahead of the bank’s centennial and is presented as a step to modernize identity and services while keeping the same personnel and community focus.
What this means for customers and the community
- Expanded local access with a new Oradell branch and 24/7 ATM service.
- Enhanced mobile banking for account opening, deposits, bill pay and mortgage applications.
- Stronger commercial lending capabilities and construction loan management under new commercial lending leadership.
- Improved IT and cybersecurity oversight with a senior officer focused on infrastructure, compliance and resilience.
- Continued community focus under new CEO leadership paired with the outgoing CEO’s planned advisory role and future board membership.
FAQ
Is Ascendia Bank a new bank or a rebrand?
Ascendia Bank is the new name for the bank formerly known as Glen Rock Savings Bank. The rebrand became effective on Oct. 25 and does not indicate a change in ownership.
Who is the current CEO?
The bank’s president and chief executive officer is John D. Allen IV, who assumed the role in late August. The previous CEO will serve as an advisor through January 2026 and will remain on the board afterward.
What new senior hires were announced?
Two senior hires joined to strengthen commercial lending and IT security: Jonathan Jacobs as vice president and commercial lending manager, and Paul Skinner as senior vice president and chief information security officer.
Where is the new branch and what features does it have?
The new branch is at 550 Kinderkamack Road, Oradell. It is 3,300 square feet, includes two drive-up windows and a 24/7 walk-in ATM, and opened with community events and promotional account offers.
How can customers use the bank’s mobile services?
The bank’s mobile app allows account openings, check deposits, bill payments, account monitoring and mortgage applications through a streamlined phone experience.
Key features at a glance
| Feature | Details |
|---|---|
| New name | Ascendia Bank — rebrand effective Oct. 25; no ownership change |
| Leadership | President & CEO: John D. Allen IV; Senior hires: Jonathan Jacobs (commercial lending), Paul Skinner (SVP/CISO) |
| Branch expansion | New Oradell branch at 550 Kinderkamack Road; 3,300 sq ft; two drive-up windows; 24/7 ATM |
| Digital services | Mobile app features: account opening, remote deposit, bill pay, account monitoring, mortgage applications |
| Community focus | Bank traces roots to 1922; emphasis on neighborhood service paired with modern banking tools |
| Promotions | Limited-time deposit accounts and tiered savings/checking offers introduced with branch opening; offerings to continue due to demand |
Deeper Dive: News & Info About This Topic
Additional Resources
- ROI-NJ: Ascendia Bank adds Jacobs and Skinner to senior executive team
- Wikipedia: Ascendia Bank
- NJB Magazine: Ascendia Bank expands leadership team
- Google Search: Ascendia Bank leadership hires
- NJBIZ: Ascendia Bank, NJCC exec Allen next CEO
- Google Scholar: John D. Allen Ascendia Bank
- ROI-NJ: Allen named new president and CEO of Ascendia Bank
- Encyclopedia Britannica: Ascendia Bank
- ROI-NJ: Ascendia Bank’s Oradell branch celebrates grand opening
- Google News: Ascendia Bank Oradell branch
Author: Construction CA News
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