Provident State Bank

Overview / Commentary

www.providentstatebank.com

410-673-2401

312 Main Street
Preston, MD 21655

Provident State Bank is headquartered in Preston and is the 17^th largest bank in the state of Maryland. It is also the 1,547^th largest bank in the nation. It was established in 1904 and as of June of 2020, it had grown to 94 employees at 10 locations. Provident State Bank's money market rates are 25% higher than the national average, and it has an A health rating.

Promo Money Market,1.75% APY 3 Month Rate Guarantee - 4/27/2020

Market area is Maryland's Eastern Shore. Minimum deposit/balance of $10k of new money. Rate guaranteed for three months.

Reviews (1)

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Provident State Bank, Preston

Posted by: badme | Dec 29, 2010

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.

Comment

Health

Data as of Q2 2020

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	8813
Year Established	1904
Employees	94
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	0.9%
Return on Equity - YTD	9.02%
Annual Interest Income	$10.1MM

Assets and Liabilities
Assets	Q2 2020vs Q2 2019	$523.5MM$444.4MM
Loans	Q2 2020vs Q2 2019	$408.3MM$342.9MM
Deposits	Q2 2020vs Q2 2019	$427.9MM$354.0MM
Equity Capital	Q2 2020vs Q2 2019	$49.6MM$42.3MM
Loan Loss Allowance	Q2 2020vs Q2 2019	$3.5MM$3.3MM
Unbacked Noncurrent Loans	Q2 2020vs Q2 2019	$2.1MM$2.6MM
Real Estate Owned	Q2 2020vs Q2 2019	$84.00K$84.00K

Rates

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Savings
Money Market
Checking
CD
IRA

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

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Provident State Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.35%	$1	-	Christmas Club Account
0.05%	$25	-	Regular Savings Account
0.05%	$25	-	Minor Savings Account
0.05%	-	-	Repurchase Sweep Account
0.03%	$100	-	Health Savings Account

Provident State Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.55%^*	$1m^*	-	Premier Money Market
OTHER TIERS: 0.20% → $125k - $250k \| 0.25% → $250k - $500k \| 0.35% → $500k - $1000k
0.50%	$10k	-	Promo Money Market - New Money (3 Month Only)
0.19%^*	$100k^*	-	Money Market + Account
OTHER TIERS: 0.09% → $1k - $50k \| 0.14% → $50k - $100k
0.19%^*	$100k^*	-	Business Money Market + Account
OTHER TIERS: 0.09% → $1k - $50k \| 0.14% → $50k - $100k

Provident State Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.50%^*	$1m^*	-	Business Elite Checking
OTHER TIERS: 0.15% → $125k - $250k \| 0.25% → $250k - $500k \| 0.35% → $500k - $1m
0.14%^*	$100k^*	-	IOLTA Interest Checking
OTHER TIERS: 0.05% → $1k - $100k
0.03%	$1k	-	Interest Checking Account
0.03%	$1k	-	Business Interest Checking

Provident State Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
0.60%	$1k	-	60 Month CD
0.50%	$1k	-	55 Month Bump-Up CD - New Money
0.45%	$1k	-	48 Month CD
0.40%	$1k	-	36 Month CD
0.40%	$1k	-	30 Month Bump-Up CD
0.35%	$1k	-	24 Month CD
0.35%	$1k	-	18 Month CD
0.35%	$1k	-	23 Month CD - New Money
0.30%	$1k	-	12 Month CD
0.30%	$1k	-	11 Month CD
0.20%	$1k	-	6 Month CD
0.10%	$1k	-	3 Month CD

Provident State Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
0.60%	$1k	-	60 Month IRA Certificate
0.50%	$1k	-	55 Month Bump-Up IRA - New Money
0.45%	$1k	-	48 Month IRA Certificate
0.40%	$1k	-	30 Month Bump-Up IRA Certificate
0.40%	$1k	-	36 Month IRA Certificate
0.35%	$1k	-	18 Month IRA Certificate
0.35%	$1k	-	24 Month IRA Certificate
0.35%	$1k	-	23 Month IRA - New Money
0.30%	$1k	-	12 Month IRA Certificate
0.30%	$1k	-	11 Month Month IRA Certificate
0.20%	$1k	-	6 Month Month IRA Certificate
0.10%	$1k	-	3 Month Month IRA Certificate

Locations

Cities: Cambridge, Denton, Easton, Federalsburg, Lewes, Preston, Ridgely, Salisbury, Secretary

Cambridge Branches
Cambridge Branch	301 Crusader Road	Cambridge, MD 21613

Denton Branches
Denton Branch	209 Franklin Street	Denton, MD 21629

Easton Branches
Easton Branch	8133 Elliott Road	Easton, MD 21601
Harrison Street - Easton Branch	142 N. Harrison Street	Easton, MD 21601

Federalsburg Branches
Federalsburg Branch	325 Bloomingdale Ave	Federalsburg, MD 21632

Lewes Branches
Lewes Branch Office	18467 Coastal Highway	Lewes, DE 19958

Preston Branches
Provident State Bank, Inc.	312 Main Street	Preston, MD 21655

Ridgely Branches
Ridgely Branch	1 West Belle Street	Ridgely, MD 21660

Salisbury Branches
Salisbury Branch Office	913 Mount Hermon Road	Salisbury, MD 21801

Secretary Branches
Secretary Branch	141 Main Street	Secretary, MD 21664

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