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For the Second Consecutive Year, Provident Bank Announces $50,000 in Grants to 6 Non-Profit Organizations

1. Provident Bank awarded $50,000 in grants to six nonprofits. 2. Funds support small businesses impacted by economic challenges. 3. Grantees include community development and educational organizations. 4. Provident Bank actively invests in local economic vitality. 5. The bank maintains assets of $24.83 billion as of September 2025.

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Why Bullish?

The grants demonstrate Provident's commitment to community support, potentially boosting public perception. Historical investments in community initiatives often correlate with stock appreciation for financial institutions.

How important is it?

The article indicates significant community investment, a positive signal for investors. Community engagement often contributes to sustainable growth, enhancing the bank's reputation and customer base.

Why Short Term?

Immediate community impact may lead to increased customer loyalty, driving short-term stock performance. Past community investment initiatives have shown quick positives in customer engagement and market sentiment.

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CUBIWSBCHMN
ISELIN, N.J., Nov. 06, 2025 (GLOBE NEWSWIRE) -- Provident Bank, a leading New Jersey-based financial institution, has announced the organization recently awarded a total of $50,000 in grants to 6 non-profit organizations as part of the Federal Home Loan Bank of New York (FHLBNY) Small Business Recovery Grant (SBRG) Program. The SBRG program provides funds to benefit the small businesses of FHLBNY members, including farms and nonprofit organizations. Through the SBRG Program, members can provide grants of up to $10,000 to qualifying small businesses that have faced economic challenges due to the rate environment, inflation, supply-chain constraints, and/or rising energy costs. “We deeply value our ongoing collaboration with the Federal Home Loan Bank of New York through the Small Business Recovery Grant Program," stated Leonardo Ramos, First Vice President, CRA Officer. "These funds provide a vital lifeline, enabling local organizations to continue serving their communities and providing essential services." As a dedicated member of the FHLBNY, Provident Bank continues to actively invest in the economic vitality of our local neighborhoods by ensuring small businesses and non-profits have the resources necessary to continue thriving. The following non-profit organizations received grants through the FHLBNY SBRG program: Focus Hispanic Center for Community DevelopmentNeighborhood Housing Services of Queens CDCNew Brunswick TomorrowYonkers Partners In Education – Jersey CityBig Brothers Big Sisters of Coastal & Northern NJTeam Walker About Provident Bank Founded in Jersey City in 1839, Provident Bank is the oldest community-focused financial institution based in New Jersey and is the wholly owned subsidiary of Provident Financial Services, Inc. (NYSE:PFS). With assets of $24.83 billion as of September 30, 2025, Provident Bank offers a wide range of customized financial solutions for businesses and consumers with an exceptional customer experience delivered through its convenient network of 140 branches across New Jersey and parts of New York and Pennsylvania, via mobile and online banking, and from its customer contact center. The bank also provides fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust Company, and insurance services through its wholly owned subsidiary, Provident Protection Plus, Inc. To learn more about Provident Bank, go to www.provident.bank or call our customer contact center at 800.448.7768. Media Contact:Keith BuscioKeith.Buscio@provident.bank  A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9aa7c758-46c6-46a6-8125-b86fa53480d0

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