Listen to this article

Ascendia Bank will welcome new leadership later this month, when industry veteran John Allen IV joins as president and CEO.

Coming from New Jersey Community Capital in New Brunswick, the new hire will take over effective Aug. 25.

Meanwhile, longtime Ascendia President and Chief Executive Officer Ferdinand Viaud will transition to serve as an advisor until his retirement in January 2026. At that time, the Glen Rock-based financial institution says Viaud will remain with the bank as a director.

Allen brings an extensive list of accomplishments to his new role, Ascendia said. At community development financial institution NJCC, he spearheaded capital raising efforts, among other duties. Ascendia said Allen personally raised more than $50 million in capital investments in 2024 with NJCC to deploy into projects, such as affordable housing, charter schools, health care facilities and healthy food initiatives.

Before New Jersey Community Capital, Allen spent nearly 10 years at Lakeland Bank (which merged with Provident Bank in 2024). While at the formerly Oak Ridge-based bank, Allen rose to the role of senior vice president and treasurer.

The future is bright

Ascendia operates five full-service branches. In addition to personal banking, mobile banking, mortgages, home equity loans and lines of credit, the community bank provides business banking services and commercial mortgages for multifamily and mixed-use properties, as well.

More than a century old, the former Glen Rock Savings Bank rebranded to Ascendia Bank in 2021. Since, it has continued to invest in leadership, technology and customer-focused services.

Viaud spoke with NJBIZ in 2023, detailing efforts to offer modern solutions and build a larger regional presence. Beyond just updating branding or providing digital capabilities, he noted achieving real change means adopting a mindset.

“[I]t would’ve been very easy for us to just sit back for the next 20 years and continue to do what we were doing, but eventually the customer base would’ve shrunk,” Viaud said. And, if you don’t keep up, “you’re going to eventually go away … and we don’t want to do that.”

At the helm, Allen will continue efforts to meet customer as well as community needs.

As of March 31, 2025, the most-recent information available, Ascendia Bank had total assets of $394 million and 36 full-time employees.

On passing the baton, Viaud said with the Aug. 19 announcement he was delighted, adding, “The bank’s future is brighter than ever.”

Earlier in his career, Allen also held positions with various financial institutions, including the Federal Reserve Bank of New York. A licensed CPA, Allen received his bachelor’s and master’s degrees from Villanova University. He is also a graduate of the ABA Stonier Graduate School of Banking and the Wharton Leadership Program, both through the University of Pennsylvania.