Community members and local officials gather at the grand opening of Ascendia Bank's new Oradell branch.
Oradell, New Jersey, September 12, 2025
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, the financial institution formerly known as Glen Rock Savings Bank, announced a multi-part transformation including a formal rebrand, new senior hires in commercial lending and cybersecurity, the naming of a new president and chief executive officer, and the opening of a new branch in Oradell. The change of name became effective on Oct. 25, and the bank said the rebrand is not tied to any sale or acquisition and will not result in staff reductions.
The institution named John D. Allen IV as president and chief executive officer. He assumed the position on Aug. 25 and brings experience from roles including chief financial officer at a New Brunswick-based community investment organization and senior finance roles at other regional institutions. Allen is a licensed CPA with undergraduate and graduate training in accounting and professional consultancy and has also completed executive banking leadership programs.
Longtime leader Ferdinand R. Viaud will continue to advise the bank through Jan. 2026 and will remain on the board following his formal retirement. The bank described the transition as planned and orderly to support ongoing operations and strategic growth.
Ascendia Bank added two senior executives to bolster core capabilities. Jonathan Jacobs joined as vice president and commercial lending manager and will lead underwriting, review of commercial real estate applications, loan approval memoranda preparation, ongoing commercial credit client support and the management of construction loans. He will head a team of commercial loan administrators, credit analysts and loan processors. Jacobs brings more than 20 years of commercial lending and credit analysis experience and has previously managed portfolios in excess of $90 million.
Paul Skinner was named senior vice president and chief information security officer and will manage information systems, technology infrastructure, data processing and cybersecurity. His responsibilities include IT/IS policy development, system design and programming, network and database management, and disaster recovery planning. Skinner brings over four decades of IT and operations leadership in banking, including leading core system conversions, infrastructure upgrades and digital platform launches.
The bank opened a new branch at 550 Kinderkamack Road in Oradell, marking its fifth branch overall and its second location in Bergen County. The 3,300-square-foot facility features two drive-up windows and a walk-in ATM available around the clock. The site was previously occupied by a credit union and was chosen in part because of its history hosting successful financial institutions.
The Oradell grand opening drew hundreds of local residents and included a ribbon-cutting with the mayor. Many attendees lined up to open accounts. The launch included limited-time promotions tied to the branch opening such as a special nine-month welcome certificate of deposit, tiered welcome money market and statement savings options, and Kasasa-branded checking and savings products. The bank indicated that due to the popularity of the offers, elements of the promotion will continue beyond the grand opening period.
Ascendia Bank has been investing in digital capabilities, enhancing its mobile banking tools to enable account openings via smartphone, mobile check deposits, bill pay, transaction monitoring and mortgage applications through a streamlined app. The bank said these features are intended to combine neighborhood bank service with the convenience customers expect from larger institutions.
In recent months the institution also opened a larger headquarters that includes a dedicated mortgage lending center and has pursued product and service upgrades aligned with its customer-facing and commercial banking priorities.
The bank traces its roots to 1922, when it was founded as the Building and Loan Association of Ridgewood to provide fair returns on savings and secure mortgage lending. In 1937 the institution adopted the Glen Rock Savings Bank name, reflecting its association with the local glen and a well-known rock landmark. The recent rebrand to Ascendia Bank occurred as part of a broader strategic update announced ahead of a centennial milestone.
The bank operates as a community-focused regional lender, offering commercial lending and information technology-driven services among its core functions. Leadership changes and the Oradell expansion were presented as steps to strengthen commercial lending capacity, bolster cybersecurity and information technology infrastructure, and broaden local banking access through a mix of branch and mobile services.
The bank’s new website is AscendiaBank.com. The Oradell branch opened its doors with community events and promotional offers on Nov. 4. The bank continues to operate under the same ownership and staff structure as before the rebrand.
The institution changed its operating name to Ascendia Bank, updated its branding and launched a new website. The rebrand was implemented without a change in ownership and without layoffs.
John D. Allen IV was named president and chief executive officer and began his role on Aug. 25. He has prior experience in community finance and regional banking and holds accounting credentials and executive banking education.
Jonathan Jacobs was hired to lead commercial lending, underwriting and construction loan management. Paul Skinner was hired as senior vice president and chief information security officer to oversee IT, cybersecurity and systems infrastructure.
The new branch is at 550 Kinderkamack Road in Oradell. It is approximately 3,300 square feet, has two drive-up windows and a 24/7 walk-up ATM. It is the bank’s fifth branch and second in Bergen County.
The bank launched limited-time promotional products tied to the Oradell opening, including special CDs and tiered deposit accounts. The bank indicated it will continue some offerings due to customer response.
The bank’s website is AscendiaBank.com and it has enhanced mobile banking features for account opening, check deposit, bill pay and mortgage applications.
| Feature | Details |
|---|---|
| New name | Ascendia Bank (effective Oct. 25) |
| New CEO | John D. Allen IV (assumed role Aug. 25) |
| Senior hires | Jonathan Jacobs (VP, commercial lending manager); Paul Skinner (SVP/CISO) |
| New branch | Oradell: 550 Kinderkamack Road; 3,300 sq ft; 2 drive-ups; 24/7 ATM; opened Nov. 4 |
| Website | AscendiaBank.com |
| Founding | Traces to 1922 as Building and Loan Association of Ridgewood; later Glen Rock Savings Bank |
| Mobile services | Account opening, mobile deposits, bill pay, activity monitoring, mortgage applications via app |
| Promotions | Special nine-month CD, tiered savings and money market options, Kasasa checking and savings offers |
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