Kenneth F.X. Albers, the former president, CEO, and chairman of The Provident Bank has died, the bank announced. He was 86.
Albers, who joined The Provident Bank in 1966 as vice president, was elevated to president and CEO of Provident in 1968. In 1983, he was named chairman of the board. He retired as CEO in 1993 and as chairman in 1998.
“We are deeply saddened by the loss of Kenneth Albers, who was a cornerstone of the modern-day Provident Bank, orchestrating the vast expansion efforts that occurred throughout his 30-year tenure,” said the Bank's current President and CEO, Chris Martin. “To say it is difficult to fill his shoes is an immense understatement. Provident Bank truly would not be what it is today without his noble efforts and accomplishments, and he will be fondly remembered by all of us who knew him.”
When Albers joined The Provident Bank in 1966, the bank had just six branches, all in Jersey City, and its assets totaled $183 million. Today it has 77 branches in 11 counties with $7.4 billion in assets.
Mr. Albers held numerous posts in professional organizations, including a term as president of the National Association of Savings Banks.
Albers was born and raised in Jersey City. He was a graduate of Regis High School and St. Peter's College and completed studies at the Stonier Graduate School of Banking.
Kenneth F.X. Albers, former President, CEO, and Chairman of The Provident Bank has died. He was 86.
He is survived by his wife, Yvonne, his four children and nine grandchildren.
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