Cross River Names Global Finance Veteran Melissa Ballenger As CFO

Experienced Executive to Help Drive Company’s Next Stage of Growth

FORT LEE, N.J.–(BUSINESS WIRE)–Cross River Bank (“Cross River”), a leading innovator and provider of banking services for technology companies, today announced that it has appointed Melissa Ballenger as its Executive Vice President and Chief Financial Officer, effective immediately. Ms. Ballenger is a seasoned global finance executive who joins Cross River from State Street Corporation, where she served as Executive Vice President, Chief Financial Officer of Europe, Middle East and Africa (EMEA). Over the course of her more than 25-year career, Ms. Ballenger has served in executive leadership roles for companies across the financial services industry, including payments, consumer and commercial banking, mortgages, and investment servicing and management.

“As we look to the future, bringing on an executive of Melissa’s caliber – who possesses deep industry knowledge, a proven track record, and a clear ability to lead – positions Cross River to drive further growth and capitalize on the many opportunities ahead,” said Gilles Gade, founder, CEO, and Chairman of Cross River. “Melissa is a true finance leader with a diverse set of experiences, and she will be an exceptional asset to our strong, talented team. We look forward to leveraging Melissa’s expertise and financial acumen as we continue to build on our forward momentum following our recent equity raise and acquisition.”

As Cross River’s CFO, Ms. Ballenger will be responsible for overseeing the Company’s strategic and financial planning, balance sheet structuring, accounting functions, risk management practices, as well as its funding strategies – helping to drive Cross River’s continued profitability and next stage of growth. Ms. Ballenger will report directly to Gilles Gade, CEO of Cross River.

“Cross River is disrupting a dynamic and rapidly-evolving financial services industry, and I am incredibly excited to be part of the team that will help this Company continue to grow and develop,” said Ms. Ballenger. “Gilles and his team embody the kind of leadership and values that inspire a culture of innovation and entrepreneurship that is helping to redefine the financial services and fintech space. I am looking forward to working alongside Gilles and the rest of the team to further strengthen the Company’s position as a leading provider of banking and fintech solutions.”

About Melissa Ballenger

Ms. Ballenger is a seasoned global finance executive, who joins Cross River with more than 25 years of financial experience including in payments, consumer banking, commercial banking, mortgages, and investment servicing and management. She most recently served as the Executive Vice President, Chief Financial Officer of Europe, Middle East and Africa (EMEA), based in London, for State Street Corporation, a world leading provider of financial services to institutional investors, and as a Board director of European commercial entities.

Prior to that, Ms. Ballenger served as Executive Vice President and Chief Financial Officer for Santander Bank, N.A., before becoming EVP, Chief Business Control Officer for Santander US. Previously, she held senior leadership positions in other public companies, including EVP, Deputy Chief Financial Officer for TD Bank, N.A.; Controller and Principal Accounting Officer at MasterCard Worldwide and at Washington Mutual Bank; and senior financial positions at Freddie Mac.

Ms. Ballenger began her career with Arthur Andersen in Washington, D.C., rising to audit manager serving institutions in a variety of industries. She is a certified public accountant, and graduated summa cum laude from the College of William and Mary in Virginia with a Bachelors in Business Administration in Accounting.

About Cross River

Cross River Bank is a fast-growing financial services organization that merges the established expertise and traditional services of a bank, with the forward-thinking offerings of a technology company. The Company combines a comprehensive suite of products into a unique banking-as-a-platform solution, encompassing lending, payments and risk management. Cross River partners with leading marketplace lenders and fintech companies enabling them to focus on their own growth without hindering innovation. In December 2018, the Company secured $100 million in a funding round led by KKR. This was on top of the $28 million VC funding round in 2016 from Battery Ventures, Andreessen Horowitz, and Ribbit Capital. Founded in 2008, Cross River is a New Jersey state-chartered FDIC insured bank. For more information, please visit Cross River’s website at www.crossriver.com or on Twitter @crossriverbank.

Contacts

Media

Cross River

Robert Rendine/Robin Weinberg/Cameron Seligmann

Sard Verbinnen & Co.

Phone: 212-687-8080

CrossRiver-SVC@sardverb.com