John D. Allen IV Named New President & CEO of Ascendia Bank
Longtime President & CEO Fred Viaud to continue as a Board member, as well as advise his successor.
Glen Rock, NJ – Ascendia Bank (formerly Glen Rock Savings Bank), which has served the personal and commercial banking needs of northern New Jersey customers since 1922, has named banking industry veteran John D. Allen IV as its new President & Chief Executive Officer. Mr. Allen will assume his new role on August 25, with longtime President & CEO Ferdinand R. Viaud serving as an advisor until his retirement in January 2026, after which time he will remain with the bank as a Board member.
To his new position with Ascendia Bank, Mr. Allen brings a lengthy list of accomplishments on behalf of prominent New Jersey financial institutions. Most recently, he served as Chief Financial Officer for New Brunswick-based New Jersey Community Capital (NJCC) where he spearheaded their capital raising efforts amongst other responsibilities. Most notably in 2024, Mr. Allen personally raised over $50 million in capital investment to deploy into critical community projects such as affordable housing, charter schools, healthcare facilities, and healthy food initiatives.
Prior to NJCC, during his near decadelong tenure with Oak Ridge, NJ-based Lakeland Bank that culminated with his position as SVP/Treasurer, Mr. Allen helped steer the institution in a variety of ways. In particular, during 2022, he and his team were able to execute a $500 million investment strategy that preserved over $50 million in investor and regulatory capital. Earlier in his career, he held upwardly mobile positions at various financial institutions, including the Federal Reserve Bank of New York and Cerberus Capital Management.
Mr. Allen’s new stewardship comes as Ascendia Bank continues to invest in leadership, technology and customer-focused services. Under its refreshed brand, which was launched to reflect a broader regional presence and modern banking solutions, the bank continues to roll out enhanced digital services including mobile banking, online bill-pay and expanded commercial lending capabilities. Mr. Allen intends to build upon Ascendia Bank’s 100-plus-year history by helping the bank continue to meet evolving customer needs while positively impacting the communities it serves.
Mr. Allen is a licensed CPA, and, in his free time, he and his family actively volunteer with several altruistic organizations. Notably, for nearly four years he served as President at Shepherd of the Hills Lutheran Church in Sparta, where he helped bolster and expand both religious and secular social programs.
“It has been my honor and privilege to serve as Ascendia Bank’s president & CEO, and I couldn’t be more delighted to hand the baton to a financial professional as talented, experienced and thoughtful as J.D.,” said Ferdinand R. Viaud, outgoing President & CEO of Ascendia Bank. “The bank’s future is brighter than ever as, together, we continue our mission to meet the diverse financial needs of our communities here in northern New Jersey.”
Mr. Allen earned a B.S. in accounting as well as a master’s degree in accounting and professional consultancy 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.
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About Ascendia Bank
With five convenient, full-service branches in Glen Rock, Hawthorne, West Orange (two locations) and Oradell, Ascendia Bank serves the personal and commercial banking needs of customers throughout the northern New Jersey area. The bank’s suite of products and services includes personal banking, mobile banking, mortgages, home equity loans and lines of credit, as well as business banking services and commercial mortgages for multi-family/mixed-use properties. For more information, visit www.AscendiaBank.com. Member FDIC. Equal Opportunity Lender.
