Ascendia Bank Names New CEO

August 19, 2025  —  Glen Rock, NJ  —  Ascendia Bank (formerly Glen Rock Savings Bank) has named banking industry veteran John D. Allen IV as its new president and chief executive officer.  Allen will assume his new role on Aug. 25, with longtime president and CEO Ferdinand R. Viaud serving as an advisor until his retirement in Jan. 2026, after which time he will remain with the bank as a board member.

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 its capital raising efforts, among other responsibilities. Most notably in 2024, he raised over $50 million in capital investment to deploy into critical community projects such as affordable housing, charter schools, health care facilities and healthy food initiatives.

Before NJCC, Allen had a nearly decade-long tenure with Oak Ridge-based Lakeland Bank that culminated with his position as SVP/treasurer. In 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 positions at various financial institutions, including the Federal Reserve Bank of New York and Cerberus Capital Management.

“It has been my honor and privilege to serve as Ascendia Bank’s president and 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. “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.”

Allen is a licensed CPA and 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.