8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):  December 17, 2009

PROVIDENT NEW YORK BANCORP

(Exact Name of Registrant as Specified in Charter)

Delaware	0-25233	80-0091851
(State or Other Jurisdiction)	(Commission File No.)	(I.R.S. Employer
of Incorporation)		Identification No.)

400 Rella Boulevard, Montebello, New York	10901
(Address of Principal Executive Offices)	(Zip Code)

Registrant's telephone number, including area code:     (845) 369-8040

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17      CFR 240.14d-2(b))

o Pre-commencement  communications pursuant to Rule 13e-4(c) under the Exchange Act (17      CFR 240.13e-4(c))

Item 5.02           Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 17, 2009, Richard F. Nozell notified Provident New York Bancorp (the “Company”) that he plans to retire and resign from the Company’s Board of Directors (the “Board”), as well as the board of directors of Provident Bank and Provident Municipal Bank, effective as of the date of the annual meeting to be held on February 18, 2010.

In connection with Mr. Nozell’s retirement, the Board took action to decrease the number of directors that constitute the Board from thirteen to twelve directors, pursuant to Article II, Section 1 of the Company’s Bylaws, effective February 18, 2010.

Item 8.01          Other Events.

On December 17, 2009, the Board voted toapprove a fifth stock repurchase program to commence upon the completion of its current repurchase program.  This new authorization covers the repurchase of up to two million (2,000,000) shares of outstanding common stock.  The Company has approximately 190,000 shares remaining under its current authorization  The timing of the repurchases will depend on certain factors, including but not limited to, market conditions and prices, the Company’s liquidity requirements and alternative uses of capital.

A copy of the press release announcing the Board’s action is attached hereto as an exhibit and incorporated by reference herein.

Item 9.01           Financial Statements and Exhibits.

99.1         Press release dated December 21, 2009.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

	PROVIDENT NEW YORK BANCORP
DATE:  December 22, 2009	By:	/s/ Paul A. Maisch
		Paul A. Maisch
		Executive Vice President and
		Chief Financial Officer

EX-99.1

Exhibit 99.1

News Release	Provident New York Bancorp
	400 Rella Boulevard
	Montebello, NY 10901-4243
	T 845.369.8040
	F 845.369.8255
	www.providentbanking.com

FOR IMMEDIATE RELEASE Stock Symbol:  PBNY

December 21, 2009 Traded on NASDAQ Global Select Market

PROVIDENT BANK CONTACT:

Paul A. Maisch, EVP & CFO

Miranda Grimm, VP & Controller

845. 369.8040

PROVIDENT NEW YORK BANCORP

ANNOUNCES FIFTH STOCK REPURCHASE PROGRAM

MONTEBELLO, NY – December 21, 2009 – Provident New York Bancorp (NASDAQ: PBNY), the parent company of Provident Bank, today announced that the Board of Directors approved a fifth stock repurchase program to commence upon the completion of its current repurchase program.  Under the repurchase plan, the Company may acquire up to 2,000,000 shares of the Company’s common stock, which represents approximately 5% of the Company’s common shares outstanding at September 30, 2009.  The timing of the repurchases will depend on certain factors, including but not limited to market conditions and prices, the Company’s liquidity requirements and alternative uses of capital.  The stock repurchase program may be carried out through open market purchases, block trades, and in negotiated private transactions. Any repurchased shares will be held as treasury stock and will be available for general corporate purposes.  The Company has approximately 190,000 shares remaining under its authorization to repurchase up to 2,000,000 shares of its common stock pursuant to its fourth repurchase program that was announced on August 24, 2007.

This news release contains certain forward-looking statements, which are subject to risks and uncertainties. A number of factors could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements, including general economic conditions, changes in interest rates, regulatory considerations, and competition.

The Company's reports filed from time to time with the Securities and Exchange Commission, including the Company's Form 10-K for the year ended September 30, 2009, describe some of these factors. Forward-looking statements speak only as of the date they are made and the Company does not undertake to update forward- looking statements to reflect circumstances or events that occur after the date of the forward-looking statements or to reflect the occurrence of unanticipated events.

Headquartered in Montebello, New York, Provident Bank, with $3.0 billion in assets, is an independent full-service community bank. Provident Bank operates 33 branches that serve the Hudson Valley region and Bergen County, New Jersey.  The bank offers a complete line of commercial, retail and investment management services. Visit the Provident Bank web site at www.providentbanking.com