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Overview / Commentary
410-673-2401
312 Main Street
Preston, MD 21655

Provident State Bank, Inc. is headquartered in Preston and is the 33rd largest bank in the state of Maryland. It is also the 2,194th largest bank in the nation. It was established in 1904 and as of March of 2014, it had grown to 67 employees at 9 locations. Provident State Bank, Inc.'s savings rates are 23% higher than the national average, and it has a C+ health rating.

Reviews (1)

Provident State Bank, Preston

Provident State Bank in Preston, their home office, sucks. I will be soon placing my accounts elsewhere, for the second time. I used this bank because it was convenient, they are no longer convenient, and most of their staff have major attitudes. Go elsewhere if you are looking for a good bank.



Health

Data for Q1 2014

Institution Health

C+

Texas Ratio

GRADE:
C+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Provident State Bank, Inc. had $5.95 million in non-current loans and owned real-estate with $24.7 million in equity and loan loss allowances on hand to cover it. This gives Provident State Bank, Inc. a Texas Ratio of 24.09% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Provident State Bank, Inc. experienced no significant changes from 26.24% as of March 31, 2013 to 24.09% as of March 31, 2014, resulting in a positive change of 8.20%.This indicates that the balance sheet and financial strength for Provident State Bank, Inc. has had no significant changes in recent periods.

Deposit Growth

GRADE:
C

In the past year, Provident State Bank, Inc. has decreased its total deposits by -$3.62 million, resulting in -1.42% 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 State Bank, Inc. has shown is average.

Capitalization

GRADE:
C

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 State Bank, Inc. has $296.63 million in assets with $24.7 million in equity, resulting in a capitalization level of 8.33%, which is average.

Institution Statistics

Overall
FDIC Certificate #8813
Year Established1904
Employees67
Primary RegulatorFDIC
Assets and Liabilities
Assets$296.63 million
Loans$194.13 million
Deposits$251.51 million
Equity Capital$23.10 million
Loan Loss Allowance$1.60 million
Unbacked Noncurrent Loans$2.50 million
Real Estate Owned$3.45 million
Historic Data - March 2013
Assets$299.51 million
Equity Capital$23.70 million
Loan Loss Allowance$1.81 million
Unbacked Noncurrent Loans$2.50 million
Real Estate Owned$2.92 million
Profit Margin - Quarterly
Net Interest Margin3.75%
Return on Assets0.59%
Return on Equity7.82%
Interest Income$2.93 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Provident State Bank, Inc., we are a rate comparison website and can not provide official rates or promotions.

Provident State Bank, Inc. Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.64%--Christmas Club Account
0.11%$25-Regular Savings Account
0.11%$25-Minor Savings Account

Provident State Bank, Inc. Money Market Rates

DetailsAPYMINMAXPRODUCT
0.19%$100k-Money Market Account

Provident State Bank, Inc. Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$1k-Interest Checking Account

Provident State Bank, Inc. CD Rates

DetailsAPYMINMAXPRODUCT
0.91%$1k-60 Month CD
0.71%$1k-42 Month Bump-Up CD
0.61%$1k-48 Month CD
0.51%$1k-36 Month CD
0.46%$1k-24 Month CD
0.21%$1k-12 Month CD
0.11%$1k-6 Month CD
0.07%$1k-3 Month CD

Provident State Bank, Inc. IRA Rates

DetailsAPYMINMAXPRODUCT
0.91%$100-60 Month Variable IRA
0.41%$100-18 Month Fixed IRA
Locations


Provident State Bank, Inc. Locations
Ridgely Branch1 West Belle StreetRidgely, MD 21660
Secretary Branch141 Main StreetSecretary, MD 21664
Denton Branch209 Franklin StreetDenton, MD 21629
Provident State Bank, Inc.312 Main StreetPreston, MD 21655
Federalsburg Branch325 Bloomingdale AveFederalsburg, MD 21632
Denton Plaza Branch39 Denton PlazaDenton, MD 21629
Hurlock Branch4440 Hurlock East New Market RdHurlock, MD 21643
Cambridge Branch530 Poplar StreetCambridge, MD 21613
Easton Branch8133 Elliott RoadEaston, MD 21601