Provident Bank

400 Rella Boulevard
Montebello, NY 10901
845.369.8551
www.providentbanking.com

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Provident Bank is headquartered in Montebello and is the 24^th largest bank in the state of New York. It is also the 231^st largest bank in the nation. It was established in 1895 and as of March of 2012, it had grown to 481 employees at 36 locations. Provident Bank has a 5-star health rating.

ProvidentNJ Direct's New Limit on External Transfers - 10/1/2009

ProvidentNJ Direct has implemented a new very restrictive external transfer policy that limits external transfers to only $2,000 per day. In an email to customers, the bank claims that this new limitation was put in place "to protect your accounts...

3.25% 90-Day Online Savings Account Promo at ProvidentNJ Direct - Nationtally Available - 4/29/2009

Update 8/14/09: The 90-day intro rate has fallen to 2.00% APY, and the standard rate has fallen to 1.50% APY for balances of $10K+ and 1.00% APY for balances under $10K.The Provident Bank in New Jersey has started an internet bank called ProvidentNJ...

$123 Checking Account Bonus at Provident Bank - 2/3/2009

Provident Bank has a $123 checking account promotion. The new checking account must be opened by 3/31/09, and the customer must have direct deposit and an active Provident MasterMoney debit card by 4/30/09. Here are some important details from the small...

$100 Checking Account Bonus at Provident Bank - 9/16/2008

Provident Bank has a $100 checking promotion. The new checking account must be opened by 11/21/08, and the customer must have direct deposit and a Provident MasterMoney debit card by 12/31/08. Here are some important details from the small print:Offer...

2007

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See Rates for: Checking | Savings | Money Market | CD

Provident Bank Checking Account Rates

Apy	Min	Max	Product
0.02%	-	-	Purple Premium Checking
0.02%	-	-	Purple Checking
0.02%	-	-	Purple Prime Checking

Provident Bank Savings Account Rates

	Apy	Min	Max	Product
	0.02%	$25	-	Statement Savings

Provident Bank Money Market Rates

	Apy	Min	Max	Product
	0.02%	$2,500	-	Money Market

Provident Bank CD Rates

Apy	Min	Max	Product
1.00%	$500	-	5 Year CD
0.45%	$500	-	36 Month CD
0.30%	$500	-	24 Month CD
0.25%	$500	-	18 Month CD
0.25%	$10k	-	Laddered CD Package
0.20%	$500	-	1 Year CD
0.20%	$100k	-	12 Month Jumbo CD
0.17%	$500	-	9 Month CD
0.17%	$100k	-	9 Month Jumbo CD
0.15%	$500	-	3 Month CD
0.15%	$500	-	6 Month CD
0.15%	$100k	-	6 Month Jumbo CD

Rates updated: 5/27/2012

Data for Q1 2012

Provident Bank consists of multiple companies with separate FDIC numbers. Click on an FDIC number to view the health for that company:

30337 - Provident Bank
57339 - Provident Municipal Bank

Institution Statistics

Provident Bank
OTS #	05190
FDIC Certificate #	30337
BankRate Report	View
Year Established	1895
Employees	481
Primary Regulator	OCC
Assets and Liabilities
Assets	$3.20 billion
Loans	$1.77 billion
Deposits	$2.39 billion
Equity Capital	$418.25 million
Loan Loss Allowance	$27.79 million
Unbacked Noncurrent Loans	$51.96 million
Real Estate Owned	$5.83 million
Historic Data - March 2011
Assets	$2.91 billion
Equity Capital	$398.87 million
Loan Loss Allowance	$26.43 million
Unbacked Noncurrent Loans	$37.18 million
Real Estate Owned	$5.35 million
Profit Margin - Quarterly
Net Interest Margin	3.42%
Return on Assets	0.72%
Return on Equity	5.42%
Interest Income	$28.40 million

Institution Health

Overall Score:

5 out of 5

Texas Ratio
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 Provident Bank had $57.79 million in non-current loans and owned real-estate with $446.04 million in equity and loan loss allowances on hand to cover it. This gives Provident Bank a Texas Ratio of 12.96% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Provident Bank held steady from 10.00% as of March 31, 2011 to 12.96% as of March 31, 2012, resulting in a negative change of 29.57%. This indicates that the balance sheet and financial strength for Provident Bank has held steady in recent periods.
Deposit Growth
In the past year, Provident Bank has increased its total deposits by $279.36 million, resulting in 13.24% 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 Provident Bank has shown is excellent.
Capitalization
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. Provident Bank has $3.2 billion in assets with $446.04 million in equity, resulting in a capitalization level of 13.93%, which is excellent.