Banking Industry: Feeling Optimistic While Coping with Change

Banking / Financial

Five executives from leading financial institutions in the state detail the challenges and opportunities their organizations, as well as their business clients, face today.

By Anthony Birritteri, Editor-in-Chief On Mar 10, 2025

In this installment of New Jersey Business Magazine’s continuing Business Roundtable Series, conducted in conjunction with the New Jersey Business & Industry Association, we present a discussion on the state of banking. On the following pages, professionals discuss the forces shaping their industry today, including regulations, artificial intelligence, cyber security, fintech competition, market trends and more.

Meet our 5 Panelists

Rebecca O’Connell

Rebecca O’Connell is the regional president and head of middle market commercial banking for the NYC Metro Region at Citizens Bank, encompassing NYC, its surrounding boroughs, Long Island, Westchester and Northern and Central New Jersey. She previously held positions at JP Morgan Chase and Bank of America after spending time in the private sector in a global treasurer/finance & consulting capacity. She is also an NJBIA Trustee.

Michael Affuso

Michael “Mike” Affuso is president and CEO of the New Jersey Bankers Association (NJBankers). Bringing more than two decades of experience in New Jersey government and the banking industry to his position, he advocates for the banking industry before federal and state legislatures. Prior to becoming president and CEO, Affuso served as NJBankers’ executive vice president and director of government relations. 

Gregory Garcia

Gregory Garcia is executive vice president and COO at First Commerce Bank (FSB). He began his career at FSB in 2021, first serving as chief risk officer and later, COO. Prior to joining FSB, Garcia served as CFO and COO for William Penn Bank. He began his career in community banking in 2004 as a consultant for the strategic consulting firm, FinPro, Inc.

Vito Giannola

Vito Giannola is executive vice president and chief banking officer at Provident Bank, where he is responsible for leading the branch network, retail operations, sales administration, Provident Investment Services, small business, and consumer and residential lending. He has more than 25 years’ experience in financial services. Prior to joining Provident, he held executive positions at SB One Bank, TD Bank, Chase and First Union Bank. 

Edward K. Moran Jr.

Edward Moran Jr. is market president/C&I lending for the Central/Northern New Jersey region of OceanFirst Bank. He manages a diverse team of C&I relationship managers which focuses on commercial banking, asset-based lending, treasury management and other specialties. Prior to joining OceanFirst Bank, Moran held leadership positions at TD Bank and Fleet Bank and has more than 37 years of banking experience.

How are businesses adjusting their…