NEW YORK, Sept. 18, 2025 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of New York (“FHLBNY”) announced today that Christopher Martin has been elected by its Board of Directors (“Board”) to serve as Board chair for a two-year term that will commence on January 1, 2026. Mr. Martin, who is executive chairman of Provident Financial Services, Inc. and Provident Bank, has served on the FHLBNY’s Board as a Member Director since January 1, 2015. He currently serves as the chair of the Board’s Corporate Governance and External Affairs Committee and as a member of its Executive, Compensation & Human Resources, and Strategy and Business committees.
“As a community banker, I know the positive impact access to reliable Federal Home Loan Bank funding has for local lenders and the customers and communities we serve,” said Mr. Martin. “Throughout my service on the FHLBNY Board, I have repeatedly seen just how critical this foundational liquidity mission is, not only to the members of our cooperative, but for economic opportunity and financial stability nationwide. It is truly an honor to serve as chair of such a vital institution, and I thank my fellow Directors for their trust in me to take on this role. The Board and management remain focused on delivering on this mission, to the benefit of members, households and communities across our region.”
“Chris is a true community banker, and the insights and expertise he brings to our Board have helped shape and strengthen the FHLBNY over the course of his service to our cooperative,” said Randolph C. Snook, president and CEO of the FHLBNY. “I know that, under his leadership, the Board will continue to ensure that the FHLBNY is best positioned to meet the needs of our members and the communities we serve. I also thank our current chair, Larry Thompson, who is retiring from the Board at year-end, for his many contributions to the FHLBNY throughout his tenure.”
Mr. Martin has been in the banking industry for nearly 40 years. He previously served as president and chief executive officer of Provident Financial Services, Inc. and Provident Bank which acquired First Sentinel Bancorp, Inc., in July 2004. Beginning with First Sentinel in 1984 as controller, Mr. Martin advanced and was appointed president of First Sentinel Bancorp and its subsidiary, First Savings Bank, in 2003. Prior to his banking career, Mr. Martin worked for Johnson & Johnson in inventory control and as a financial analyst. Prior to Johnson & Johnson, he worked as an accountant at two manufacturing companies. Mr. Martin previously served on the New Jersey Bankers Association and was the New Jersey representative for the Independent Community Bankers Association. He was also a member of the Government Relations Council of the American Bankers Association, and previously served on the Federal Reserve Community Depository Institutions Advisory Council.
Mr. Martin is also a strong community advocate. He is chairman of The Provident Bank Foundation, which since its founding in 2003 has provided more than $33 million in grants for programs focusing on community enrichment, education, and health, youth and families in New Jersey and Pennsylvania. Mr. Martin is a vice president/trustee of The 200 Club of Middlesex County, which provides financial assistance and scholarships to families of law enforcement, fire and public safety officials. He volunteers at local food pantries and Habitat for Humanity build sites, and also spends time teaching financial literacy to high school students in underserved communities. Mr. Martin is a recipient of the New Jersey State Governor’s Jefferson Awards for Public Service, and his philanthropic efforts have been honored by the National MS Society, the American Jewish Committee, The Scholarship Fund for Inner-City Children, Habitat for Humanity, Boys and Girls Club of America, Project Live and Felician College.
Federal Home Loan Bank of New York
The Federal Home Loan Bank of New York is a Congressionally chartered, wholesale Bank. It is part of the Federal Home Loan Bank System, a national wholesale banking network of 11 regional, stockholder-owned banks. As of June 30, 2025, the FHLBNY serves 334 financial institutions in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The mission of the FHLBNY is to provide members with reliable liquidity in support of housing and local community development.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This report may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as "projected," "expects," "may," or their negatives or other variations on these terms. The Bank cautions that, by their nature, forward-looking statements involve risk or uncertainty and that actual results could differ materially from those expressed or implied in these forward-looking statements or could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, regulatory and accounting rule adjustments or requirements, changes in interest rates, changes in projected business volumes, changes in prepayment speeds on mortgage assets, the cost of our funding, changes in our membership profile, the withdrawal of one or more large members, competitive pressures, shifts in demand for our products, and general economic conditions. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
CONTACT: Brian Finnegan
(212) 441-6877
brian.finnegan@fhlbny.com
