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 century-old northern New Jersey bank formerly known as Glen Rock Savings Bank, has completed a multi-part transformation that includes a formal rebrand, two senior hires to strengthen lending and information security, a new branch in Oradell and a leadership change at the top. The rebrand became effective on October 25 and is not tied to any change in ownership. The bank also launched the new website AscendiaBank.com as part of the rollout.
The institution announced the appointment of John D. Allen IV as president and chief executive officer, with his start date noted as August 25. The previous longtime leader will remain on board as an advisor through January 2026 and will continue afterward as a board member. To bolster core operations, Ascendia Bank added two veteran executives. Jonathan Jacobs joined as vice president and commercial lending manager to lead commercial lending, underwriting, construction loans and a team of loan administrators and credit analysts. Paul Skinner was named senior vice president and chief information security officer to run information systems, infrastructure, cybersecurity and related IT policy and system design work.
On November 4 the bank opened a new branch at 550 Kinderkamack Road in Oradell. The 3,300 square foot site is the bank’s fifth branch and its second location in Bergen County. The space, formerly used by a credit union, includes two drive-up windows and a walk-in ATM available 24 hours a day. A ribbon-cutting with the town mayor kicked off the day, and hundreds of area residents attended, with many customers opening new accounts during the event. The grand opening featured an Instant Cash Giveaway, tote bags with practical items, and a set of limited-time promotions that the bank said will continue due to strong interest. Special offers tied to the event included a nine-month welcome certificate of deposit and tiered welcome money market and statement savings accounts, alongside branded cash back checking and savings products.
The bank framed the recent hires as a move to strengthen both commercial lending and technology infrastructure. In his new role, the commercial lending lead will handle underwriting, prepare loan approval memoranda, manage construction lending and support ongoing commercial credit relationships. He brings more than two decades of experience in commercial lending and credit analysis and has managed portfolios in excess of 90 million in prior roles. The information security chief brings more than 40 years of IT and operations leadership in banking. His background includes leading core system conversions, infrastructure upgrades, digital and mobile platform launches, complex integrations, enhanced cybersecurity protocols and disaster recovery planning.
Ascendia Bank has been enhancing its digital offerings, adding mobile banking tools that allow customers to open accounts, deposit checks by phone, pay bills, monitor activity and apply for mortgages through a smartphone app. The bank said the improvements are intended to combine neighborhood-style service with the convenience typically offered by larger banks. Last November the institution also opened a new headquarters that includes a dedicated mortgage lending center.
The bank traces its roots back to 1922, when it began as the Building and Loan Association of Ridgewood with the goal of offering fair returns on savings and secure home mortgages. In 1937 the name was changed to reflect its Glen Rock location. The recent rebrand to Ascendia Bank was announced ahead of the bank’s 100th anniversary and is presented as a refreshed identity rather than a sign of ownership change or staff disruption.
The bank will keep operating under the new name while maintaining staff and customer-facing services. Customers can access the bank online at AscendiaBank.com. The Oradell branch and ongoing product promotions are intended to support local banking needs while the enhanced mobile platform provides account access and mortgage tools from smartphones.
This sequence of moves — name change, executive leadership transition, targeted senior hires, branch expansion and digital upgrades — signals an effort to balance local community banking with modern operational and cybersecurity capabilities as the institution moves into its next century of service in northern New Jersey.
No. The rebrand to the new name is not linked to any change in ownership or an acquisition.
The new name became effective on October 25.
John D. Allen IV assumed the role of president and chief executive officer earlier in the year. He is a licensed CPA with a background in finance and community investment work.
Jonathan Jacobs joined as vice president and commercial lending manager to lead commercial lending and construction loans. Paul Skinner joined as senior vice president and chief information security officer to manage IT, cybersecurity and infrastructure projects.
The bank opened a 3,300 square foot branch at 550 Kinderkamack Road in Oradell. The branch features two drive-up windows and a 24/7 walk-in ATM.
Due to customer interest, the bank indicated it will continue the special promotional products that were introduced for the grand opening.
Customers can use the bank’s mobile app to open accounts, deposit checks by phone, pay bills, monitor activity and apply for mortgages. The bank’s website is AscendiaBank.com.
| Feature | Details |
|---|---|
| New name | Ascendia Bank became effective October 25; rebrand not tied to ownership change |
| Website | AscendiaBank.com |
| Chief executive | John D. Allen IV named president and CEO; transition began August 25 |
| Senior hires | Jonathan Jacobs for commercial lending; Paul Skinner for IT and cybersecurity |
| New branch | 550 Kinderkamack Road, Oradell; 3,300 sq ft; two drive-up windows; 24/7 ATM; fifth branch |
| Digital banking | Mobile app supports account opening, mobile deposit, bill pay, activity monitoring and mortgage applications |
| Founding | Founded in 1922 as Building and Loan Association of Ridgewood; renamed in 1937 to reflect Glen Rock location |
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