IDB Bank appoints Avner Mendelson as President and CEO

Israel Discount Bank of New York (OTC: ISDAY), a New York-based private and commercial bank and largest Israeli-owned bank in the United States, has announced the appointment of Avner Mendelson as its new President & Chief Executive Officer. Mendelson will drive the Bank's transformation and sustainable growth agenda across both U.S-domestic and international lines of business, further advancing IDB's role within the Discount Bank global holding group.

A seasoned industry executive, Mendelson joins IDB with more than two decades of banking and leadership experience in Israel and the U.S., serving as the President & CEO of IDB's former peer bank, Bank Leumi USA, where he led sweeping enterprise transformation for nearly a decade until its merger with Valley National Bank in 2022, where he was appointed Vice Chairman of the Board of Directors of the consolidated bank. Previously, Mendelson had the distinction of successfully leading Group Strategy for the Leumi Group, Israel's largest banking group.

Mendelson will succeed Ziv Biron, who has been part of the Discount Group for 8 years, the last 5 years as President & CEO of IDB Bank. Mendelson joins IDB following a stand-out year, as the Bank recently reported a strong 2024 financial performance.

The leadership transition will take place on May 1, 2025, with Mendelson and Biron working closely throughout the transition period.

"I congratulate Avner on joining Discount Group, and his appointment as the President & CEO of IDB Bank. I am confident that his rich experience and professionalism, as well as his deep long-standing familiarity with the American market will greatly contribute to the Bank's continued momentum. I would like to thank Ziv Biron for the successful leadership of IDB Bank in recent years, and I am confident that these successes will serve as a solid foundation for the Bank's continued growth." – Avi Levi, President & CEO of Discount Group

"We excitedly welcome Avner as our next President & CEO as we continue to build and improve IDB in a changing financial services environment. As we look to the future, we also want to thank Ziv for his years of service as our CEO. Ziv has shepherded IDB through extraordinary geopolitical and financial events since 2019, and greatly fortified our organization while delivering strong results. We thank him for his leadership and warmly wish him continued success in the future." – Ilan Kaufthal, IDB Bank Board Chairman

"This is an exciting moment to join IDB — a bank I've long admired for its entrepreneurial spirit, deep client relationships and unique culture that blends professionalism with genuine care. I am deeply grateful to the Board, as well as to our shareholders both in Israel and the U.S., for the trust they have placed in me. I also want to thank Ziv Biron, a remarkable leader and friend whom I've known for over 20 years, for his tremendous support during this transition. I look forward to working with the incredible IDB team to build on the Bank's legacy and create new opportunities for our people, our customers and our communities." – Avner Mendelson, Incoming President & CEO, IDB Bank

"Leading IDB over the past five years has been a great honor and I am proud to have been part of Discount Group's great legacy. I wish to thank my board, my leadership team and our extraordinary group of colleagues who work relentlessly to provide best possible service to our clients. I have known Avner for over two decades and I am confident that under his leadership, IDB will reach new heights. I wish Avner great success." – Ziv Biron, Outgoing IDB President & CEO

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