Bank Provident Online

Five Market Street
Amesbury,, MA 01913
(877) 487-2977
www.bankprovidentonline.com
BankProvidentOnline is a division of The Provident Bank, headquartered in Amesbury, Massachusetts. This division is solely an “online” bank and the products available at BankProvidentOnline.com are not available in our branches.

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Data for Q1 2012


Institution Statistics


The Provident Bank
FDIC Certificate #90141
BankRate ReportView
Year Established1828
Employees109
Primary RegulatorFDIC

Assets and Liabilities

Assets$539.97 million
Loans$348.28 million
Deposits$424.99 million
Equity Capital$64.74 million
Loan Loss Allowance$4.70 million
Unbacked Noncurrent Loans$3.45 million
Real Estate Owned$755,000

Historic Data - March 2011

Assets$496.56 million
Equity Capital$44.83 million
Loan Loss Allowance$4.49 million
Unbacked Noncurrent Loans$2.32 million
Real Estate Owned$99,000

Profit Margin - Quarterly

Net Interest Margin3.49%
Return on Assets0.38%
Return on Equity3.16%
Interest Income$5.37 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of March 31, 2012 Bank Provident Online had $4.2 million in non-current loans and owned real-estate with $69.44 million in equity and loan loss allowances on hand to cover it. This gives Bank Provident Online a Texas Ratio of 6.06% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Bank Provident Online held steady from 4.91% as of March 31, 2011 to 6.06% as of March 31, 2012, resulting in a negative change of 23.42%. This indicates that the balance sheet and financial strength for Bank Provident Online has held steady in recent periods.
Deposit Growth5
In the past year, Bank Provident Online has increased its total deposits by $42.22 million, resulting in 11.03% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Bank Provident Online has shown is excellent.
Capitalization5
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Bank Provident Online has $539.97 million in assets with $69.44 million in equity, resulting in a capitalization level of 12.86%, which is excellent.
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