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Provident Bank Expands Newark Presence with New Branch, Reinforces Commitment to Local Community

1. Provident Bank opens fourth branch in Newark, enhancing local commitment. 2. Branch aims to serve community banking needs effectively. 3. Partnerships with local charities strengthen community ties. 4. Bank assets total $24.22 billion as of March 2025. 5. Provident's presence supports small businesses and consumers.

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Why Bullish?

The opening of a new branch indicates business growth and market expansion, fostering investor confidence. Historical trends show that new branches can lead to increased deposits and customer acquisition.

How important is it?

The announcement signifies a strategic move to solidify market presence in Newark, impacting long-term profitability and market share for PFS.

Why Long Term?

The effects of this strategic branch opening will contribute to sustained growth as it develops customer relationships over time. Comparison with similar expansions in the financial sector shows enduring positive impact on stock valuations.

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New location marks Provident’s fourth branch in Newark and continued commitment to the city June 10, 2025 08:00 ET  | Source: Provident Bank ISELIN, N.J., June 10, 2025 (GLOBE NEWSWIRE) -- Provident Bank, a leading New Jersey-based financial institution, announced the formal opening of its fourth branch in Newark, N.J., demonstrating its ongoing commitment to serving the financial needs of local businesses and consumers. The new branch, led by Israel Morales, Vice President, will be conveniently located on the ground floor of the Ironside Newark Building at 110 Edison Place (between the Prudential Center and train station) and includes an ATM. “We are excited to announce the newest branch in the City of Newark,” said Vito Giannola, Executive Vice President and Chief Banking Officer at Provident Bank. “This new location is part of our extensive network of more than 140 branches and further demonstrates our deep commitment to the communities we serve. With this new office, we will be focused on providing the Newark community with a convenient in-person experience and access to experienced, knowledgeable bankers who will assist local residents with their banking and lending needs.” As part of its ongoing community engagement program, Provident Bank also announced it has partnered with three local non-profit organizations: Habitat for Humanity of Greater Newark, St. John’s Soup Kitchen, and Greater Life. Each organization received $2,500 during the bank's ribbon cutting ceremony earlier this week, celebrating the city of Newark and this new branch office. "This branch deepens Provident’s commitment and history of providing equitable access to credit and banking services to the consumers and small businesses of New Jersey’s largest city of more than 300,000 residents,” said Roxanne Camejo, Community Development Officer, Provident Bank. “Beyond banking, we are proud to directly invest in Newark's future by donating to three impactful local charities, strengthening vital community programs.” About Provident BankFounded 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 $24.22 billion as of March 31, 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 more than 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 VestedProvidentbank@fullyvested.com Photos accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/f727ccb5-4887-40f2-b76c-c766b85be747https://www.globenewswire.com/NewsRoom/AttachmentNg/7b9f9fa2-167d-45c3-be5c-d6f776b0b5ffhttps://www.globenewswire.com/NewsRoom/AttachmentNg/1cb1f5ad-11e0-495e-a39a-86b9add17742https://www.globenewswire.com/NewsRoom/AttachmentNg/64a1baa3-2fc0-4d55-8ec3-c93c47314282 Greater Life Check Presentation Left to Right: Maria Westbrook, Co-Founder/VP of Administration & Finance, Greater Life; Chanel Main... St. Johns Soup Kitchen Photo Left to Right: Jorge Fernandes, FVP, Market Sales Manager, Provident Bank; Barbara Cury, Executive D... Ribbon Cutting Photo Left to Right: Michael J. Silva, Councilman, East Ward, City of Newark; Jacqueline Quiles, Deputy Ma... Newark Habitat for Humanity Photo Left to Right: Danielle Sanchez, Chief Financial Officer, Habitat for Humanity of Greater Newark; Je...

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