Provident Bank Mortgage Rates, Fees & Info

Jersey City, NJ

LEI: 5493004NH61PL6YYNH25

Tax ID: 22-1211130

5 stars - out of 5 stars, based on 32 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Provident Bank is a smaller bank specializing in Refi and Home Purchase loans. Provident Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Poughkeepsie, Allentown, and Columbus among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Provident Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Provident Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.34% 3/19/23
    30 Year Conventional Refi 6.26% 3/19/23
    30 Year Cash-out Refi 6.27% 3/19/23
    15 Year Conventional Purchase 5.90% 3/19/23
    15 Year Conventional Refi 6.53% 3/19/23
    15 Year Cash-out Refi 6.53% 3/19/23
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    Originations

    1,011

    Origination Dollar Volume (All Markets)

    $475,775,000

    Employee count

    1,143

    Awards

    Provident Bank 30 Year Conventional Loans bronze Provident Bank 30 Year Conventional Loans silver Provident Bank 30 Year Conventional Loans gold
    Show all (3) awards

    Relative Rate

    Provident Bank's average 30 year fixed mortgage rate was 2.86%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.29%.

    Relative Fees (Closing Costs)

    Provident Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,447.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 912 $349,630,000 $383,366 $3,248 3.13%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 54 $89,850,000 $1,663,889 $4,024 3.35%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 3 $13,485,000 $4,495,000 $6,943 3.12%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 16 $4,620,000 $288,750 $3,365 3.22%
    COLUMBUS, OH (FHA|USDA|VA) 1 $4,055,000 $4,055,000 $0 3.70%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 3 $3,595,000 $1,198,333 $0 3.29%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 11 $2,955,000 $268,636 $1,296 3.34%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $2,735,000 $2,735,000 $0 3.40%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $2,405,000 $2,405,000 $0 3.25%
    OCEAN CITY, NJ (FHA|USDA|VA) 2 $740,000 $370,000 $4,639 3.25%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $355,000 $355,000 $0 3.95%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $335,000 $335,000 $0 3.95%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $305,000 $305,000 $4,891 2.88%
    KINGSTON, NY (FHA|USDA|VA) 1 $265,000 $265,000 $5,162 3.50%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $245,000 $245,000 $0 3.88%
    Outside of Metro Areas 2 $200,000 $100,000 $2,035 3.19%
    Provident Bank's top markets include New York, Philadelphia, Poughkeepsie, Allentown, and Columbus among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Provident Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    N C P D Federal Credit Union
    Similarity Rank: 102
    Schuyler Savings Bank
    Similarity Rank: 352
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 652
    The First National Bank of Long Island
    Similarity Rank: 748
    The Atlantic Federal Credit Union
    Similarity Rank: 882
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 1064
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1092
    Columbia Bank
    Similarity Rank: 1183
    Poli Mortgage Group, Inc.
    Similarity Rank: 1369
    Hanover Community Bank
    Similarity Rank: 1430

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,011 $475,775,000 $470,598 $3,258 3.15%

    For 2021, Provident Bank's most frequently originated type of loan was Conventional, with 1,011 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 555 $275,705,000 $496,766 $2,319 3.20%
    Cash Out Refi 236 $86,110,000 $364,873 $4,776 2.84%
    Home Purchase 166 $107,480,000 $647,470 $5,283 3.27%
    Other 38 $4,790,000 $126,053 $133 3.66%
    Home Improvement 16 $1,690,000 $105,625 $0 3.63%

    For 2021, Provident Bank's most frequently cited loan purpose was Refi, with 555 originations. The 2nd most popular reason was Cash Out Refi, with 236 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 427 $266,895,000 $625,047 $4,918 3.08%
    30 Year 187 $56,665,000 $303,021 $4,447 2.86%
    10 Year 142 $75,630,000 $532,606 $114 3.47%
    15 Year 111 $21,875,000 $197,072 $1,653 3.13%
    20 Year 89 $16,795,000 $188,708 $968 3.49%
    5 Year 54 $34,010,000 $629,815 $0 3.40%
    1 Year 1 $3,905,000 $3,905,000 $0 3.75%

    For 2021, Provident Bank's most frequently cited loan duration was Other, with 427 originations. The 2nd most popular length was 30 Year, with 187 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 645 $168,165,000 $260,721
    $1k-2k 143 $50,725,000 $354,720
    $2k-3k 13 $7,225,000 $555,769
    $5k+ 7 $2,685,000 $383,571
    $3k-4k 4 $5,210,000 $1,302,500
    $4k-5k 4 $1,510,000 $377,500

    Provident Bank's average total fees were $4,447, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 645 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 550 $328,450,000 $597,182
    2.5-3% 322 $114,010,000 $354,068
    <2.5% 110 $28,800,000 $261,818
    4-5% 25 $4,285,000 $171,400
    5-6% 4 $230,000 $57,500

    During 2021, Provident Bank's average interest rate for loans was 2.86%, while their most frequently originated rate bucket for loans was 3-4%, with 550 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 352 $100,230,000 $284,744 $3,929 3.02%
    $100k-200k 220 $33,280,000 $151,273 $2,419 3.07%
    $400k-600k 166 $79,600,000 $479,518 $4,916 3.11%
    $100,000 or less 149 $8,615,000 $57,819 $172 3.49%
    $600k-1MM 70 $51,550,000 $736,429 $5,866 3.28%
    $1MM+ 54 $202,500,000 $3,750,000 $8,050 3.38%

    2021 saw Provident Bank place emphasis on $200k-400k loans with 352 originations, totaling $100,230,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 222 $76,230,000 $343,378 $3,997 3.03%
    $100k-150k 204 $48,000,000 $235,294 $2,889 3.12%
    $75k-100k 143 $28,665,000 $200,455 $2,571 3.09%
    $250k+ 129 $70,515,000 $546,628 $4,898 2.98%
    $50k-75k 102 $15,150,000 $148,529 $2,518 3.08%
    $50k or less 51 $5,755,000 $112,843 $1,521 3.16%

    Provident Bank lent most frequently to those with incomes in the $150k-250k range, with 222 originations. The second most popular income band? $100k-150k, with 204 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 235 $60,225,000 $256,277 $3,149 3.02%
    30-36% 191 $58,035,000 $303,848 $3,330 3.06%
    <20% 92 $31,490,000 $342,283 $3,697 2.98%
    44% 40 $7,970,000 $199,250 $2,038 3.30%
    41% 35 $10,335,000 $295,286 $3,014 3.02%
    43% 34 $9,410,000 $276,765 $2,927 3.22%
    39% 34 $8,650,000 $254,412 $3,194 3.13%
    40% 34 $9,770,000 $287,353 $3,642 3.17%
    38% 33 $9,945,000 $301,364 $3,715 3.00%
    36% 33 $9,685,000 $293,485 $3,744 2.93%
    37% 21 $4,985,000 $237,381 $3,203 3.23%
    42% 19 $5,785,000 $304,474 $3,471 3.15%
    45% 18 $6,360,000 $353,333 $3,778 3.06%
    47% 12 $4,410,000 $367,500 $2,764 3.15%
    50-60% 9 $2,115,000 $235,000 $1,224 3.24%
    49% 6 $2,000,000 $333,333 $2,560 3.19%
    46% 4 $1,670,000 $417,500 $4,157 3.03%
    48% 3 $645,000 $215,000 $3,599 3.38%
    >60% 2 $1,590,000 $795,000 $7,422 2.94%

    Provident Bank lent most frequently to those with DTI ratios of 20-30%, with 235 originations. The next most common DTI ratio? 30-36%, with 191 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 142 $224,170,000 $1,578,662 $0 3.65%
    White 686 $196,860,000 $286,968 $3,287 3.10%
    Asian 88 $29,630,000 $336,705 $3,750 2.86%
    Not provided 64 $18,420,000 $287,813 $2,740 3.06%
    Black 23 $4,255,000 $185,000 $1,885 3.19%
    Asian Indian 2 $1,160,000 $580,000 $0 3.63%
    American Indian 5 $1,125,000 $225,000 $3,248 3.00%
    Native Hawaiian or Islander 1 $155,000 $155,000 $3,315 2.38%

    Approval Rates

    Total approvals of all applications
    84.10%

    Provident Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    84.57%

    Provident Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,011 $475,775,000 $470,598

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,011 $475,775,000 $470,598

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 177 $37,555,000 $212,175 $2,217 3.09%
    40-60% 257 $96,365,000 $374,961 $3,482 3.02%
    60-80% 396 $282,340,000 $712,980 $4,566 3.17%
    80-100% 60 $28,610,000 $476,833 $5,197 3.04%
    Over 100% 4 $22,370,000 $5,592,500 $0 3.58%
    Under 20% 115 $7,775,000 $67,609 $229 3.53%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 6 46.2%
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Closing on a mortgage 1 7.7%
    PROVIDENT FUNDING ASSOCIATES Conventional home mortgage Trouble during payment process 6 46.2%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Provident Bank 12-79 River Road Fair Lawn, NJ 7410 Full Service B&M $56,253
    Provident Bank 100 Bloomfield Avenue Bloomfield, NJ 7003 Full Service B&M $111,309
    Provident Bank 100 Route 206 Augusta, NJ 7822 Full Service B&M $42,550
    Provident Bank 100 Stelton Road Piscataway, NJ 8854 Full Service B&M $134,248
    Provident Bank 100 Wood Avenue South Iselin, NJ 8830 Full Service B&M $219,011
    Provident Bank 100 Wood Avenue South Iselin, NJ 8830 Full Service B&M $1,011,389
    Provident Bank 1000 Avenue At Port Imperial Weehawken, NJ 7086 Full Service B&M $45,908
    Provident Bank 1000 Woodbridge Center Drive Woodbridge, NJ 7095 Full Service B&M $114,970
    Provident Bank 105 Chambers Bridge Road Brick, NJ 8723 Full Service B&M $104,264
    Provident Bank 11 Broad Street Bloomfield, NJ 7003 Full Service B&M $164,403
    Provident Bank 1139 Raritan Avenue Clark, NJ 7066 Full Service B&M $103,305
    Provident Bank 115-119 Ferry Street Newark, NJ 7105 Full Service B&M $29,468
    Provident Bank 1185 Sussex Turnpike Randolph, NJ 7869 Full Service B&M $127,690
    Provident Bank 222 Halsey Street Newark, NJ 7102 Full Service B&M $22,658
    Provident Bank 225 Prospect Plains Road Monroe Township, NJ 8831 Full Service B&M $110,096
    Provident Bank 239 Washington St Jersey City, NJ 7302 Full Service B&M $148,536
    Provident Bank 24 North Park Place Morristown, NJ 7960 Full Service B&M $72,404
    Provident Bank 249 Kearny Ave Kearny, NJ 7032 Full Service B&M $71,180
    Provident Bank 250 Madison Avenue Morristown, NJ 7960 Full Service B&M $186,601
    Provident Bank 266 Clove Road Montague, NJ 7827 Full Service B&M $58,454
    Provident Bank 2750 Route 27 North North Brunswick, NJ 8902 Full Service B&M $104,195
    Provident Bank 278 Route 23 Sussex, NJ 7461 Full Service B&M $91,050
    Provident Bank 28 West Main Street Somerville, NJ 8876 Full Service B&M $57,675
    Provident Bank 28-21 Astoria Blvd. Astoria, NY 11102 Full Service B&M $108,107
    Provident Bank 425 Route 206 Hillsborough, NJ 8844 Full Service B&M $148,008
    Provident Bank 4285 W. Tilghman Street Allentown, PA 18104 Full Service B&M $34,924
    Provident Bank 4331 Route 9 North And Pond Road Freehold, NJ 7728 Full Service B&M $94,292
    Provident Bank 445 Route 34 Matawan, NJ 7747 Full Service B&M $55,592
    Provident Bank 464 - 472 Avenue C Bayonne, NJ 7002 Full Service B&M $96,172
    Provident Bank 464 Cedar Lane Teaneck, NJ 7666 Full Service B&M $167,436
    Provident Bank 464 Eagle Rock Avenue West Orange, NJ 7052 Full Service B&M $50,866
    Provident Bank 477 Union Avenue Bridgewater, NJ 8807 Full Service B&M $118,451
    Provident Bank 4787 Freemansburg Avenue Easton, PA 18045 Full Service B&M $121,625
    Provident Bank 490 Boulevard Kenilworth, NJ 7033 Full Service B&M $53,016
    Provident Bank 509 Route 130 East Windsor, NJ 8520 Full Service B&M $110,939
    Provident Bank 533 Bergen Avenue Jersey City, NJ 7304 Full Service B&M $19,364
    Provident Bank 1 Plaza Drive Toms River, NJ 8757 Full Service B&M $100,585
    Provident Bank 190 Wilson Ave Newark, NJ 7105 Full Service B&M $43,216
    Provident Bank 1901 Hamilton Street Allentown, PA 18104 Full Service B&M $48,811
    Provident Bank 2015 Route 35 South Wall Township, NJ 7719 Full Service B&M $116,919
    Provident Bank 205 Main Street Manasquan, NJ 8736 Full Service B&M $55,687
    Provident Bank 206 South Avenue Fanwood, NJ 7023 Full Service B&M $56,736
    Provident Bank 208-218 Washington Avenue Belleville, NJ 7109 Full Service B&M $82,664
    Provident Bank 21 Washington Avenue Dumont, NJ 7628 Full Service B&M $74,168
    Provident Bank 210 Penns Trail Ste. 104 Newtown, PA 18940 Full Service B&M $59,002
    Provident Bank 210 Rochelle Avenue Rochelle Park, NJ 7662 Full Service B&M $110,609
    Provident Bank 2100 Oak Tree Road Edison, NJ 8820 Full Service B&M $140,318
    Provident Bank 2162 Rt. 206 South Belle Mead, NJ 8502 Full Service B&M $41,661
    Provident Bank 296 Kinderkamack Road Oradell, NJ 7649 Full Service B&M $170,977
    Provident Bank 30 Route 31 Flemington, NJ 8822 Full Service B&M $209,218
    Provident Bank 301-303 Raritan Avenue Highland Park, NJ 8904 Full Service B&M $50,732
    Provident Bank 308 Rues Lane East Brunswick, NJ 8816 Full Service B&M $164,932
    Provident Bank 320-322 Broad Avenue Leonia, NJ 7605 Full Service B&M $57,871
    Provident Bank 325 Amboy Avenue Woodbridge, NJ 7095 Full Service B&M $106,754
    Provident Bank 33 Main Street Sparta, NJ 7871 Full Service B&M $76,724
    Provident Bank 333 North Avenue Dunellen, NJ 8812 Full Service B&M $122,552
    Provident Bank 339 State Street Perth Amboy, NJ 8861 Full Service B&M $83,716
    Provident Bank 340 Route 46 East Dover, NJ 7801 Full Service B&M $127,723
    Provident Bank 345 Franklin Ave Wyckoff, NJ 7481 Full Service B&M $9,908
    Provident Bank 350 Communipaw Avenue Jersey City, NJ 7304 Full Service B&M $62,691
    Provident Bank 3514 Route 9 South Freehold, NJ 7728 Full Service B&M $75,920
    Provident Bank 3670 Kennedy Boulevard Jersey City, NJ 7307 Full Service B&M $118,519
    Provident Bank 371 Spotswood Englishtown Road Monroe Township, NJ 8831 Full Service B&M $42,977
    Provident Bank 3720 Bergenline Avenue Union City, NJ 7087 Full Service B&M $63,550
    Provident Bank 381 Speedwell Avenue Morris Plains, NJ 7950 Full Service B&M $137,465
    Provident Bank 3889 Route 516 Old Bridge, NJ 8857 Full Service B&M $128,915
    Provident Bank 399 Route 23 Franklin, NJ 7416 Full Service B&M $127,457
    Provident Bank 40 Main Ave Ocean Grove, NJ 7756 Full Service B&M $43,915
    Provident Bank 401 Smith Road Parsippany, NJ 7054 Full Service B&M $161,346
    Provident Bank 41 Broadway Denville, NJ 7834 Full Service B&M $172,810
    Provident Bank 562 Lexington Avenue Clifton, NJ 7011 Full Service B&M $96,286
    Provident Bank 569 Broadway Bayonne, NJ 7002 Full Service B&M $65,596
    Provident Bank 573 North Main Street Doylestown, PA 18901 Full Service B&M $69,159
    Provident Bank 599 Middlesex Avenue Metuchen, NJ 8840 Full Service B&M $78,975
    Provident Bank 6 Jackson Street South River, NJ 8882 Full Service B&M $158,395
    Provident Bank 600 Washington Avenue South Amboy, NJ 8879 Full Service B&M $92,127
    Provident Bank 6002 Broadway West New York, NJ 7093 Limited, Drive-thru $0
    Provident Bank 604-610 Laurel Avenue Point Pleasant Beach, NJ 8742 Full Service B&M $41,473
    Provident Bank 6141 Bergenline Avenue West New York, NJ 7093 Full Service B&M $93,256
    Provident Bank 65 South Street New Providence, NJ 7974 Full Service B&M $103,430
    Provident Bank 7 Church Street Vernon, NJ 7462 Full Service B&M $54,236
    Provident Bank 765 Poole Avenue Hazlet, NJ 7730 Full Service B&M $98,220
    Provident Bank 77 River Street Hoboken, NJ 7030 Full Service B&M $44,460
    Provident Bank 895 Bergen Avenue Jersey City, NJ 7306 Full Service B&M $143,267
    Provident Bank 930 North Washington Avenue Green Brook, NJ 8812 Full Service B&M $55,629
    Provident Bank 95 East Main Street Mendham, NJ 7945 Full Service B&M $64,139
    Provident Bank 97 North Main Street Milltown, NJ 8850 Full Service B&M $149,481
    Provident Bank 98 Main Street Madison, NJ 7940 Full Service B&M $154,798
    Provident Bank 980 Amboy Avenue Edison, NJ 8837 Full Service B&M $227,656
    Provident Bank 1220 Green Street Iselin, NJ 8830 Full Service B&M $136,138
    Provident Bank 125 West Pleasant Avenue Maywood, NJ 7607 Full Service B&M $154,173
    Provident Bank 1260 Broad Street Bloomfield, NJ 7003 Full Service B&M $119,002
    Provident Bank 15 Trinity Street Newton, NJ 7860 Full Service B&M $154,203
    Provident Bank 1502 Route 35 South Ocean Township, NJ 7712 Full Service B&M $134,969
    Provident Bank 1553 Kennedy Boulevard Jersey City, NJ 7305 Full Service B&M $145,705
    Provident Bank 1580 Route 35 Middletown, NJ 7748 Full Service B&M $53,928
    Provident Bank 159 South Orange Avenue South Orange, NJ 7079 Full Service B&M $63,085
    Provident Bank 161 Eagle Rock Avenue Roseland, NJ 7068 Full Service B&M $115,182
    Provident Bank 166 Ridgedale Avenue Morristown, NJ 7960 Full Service B&M $58,198
    Provident Bank 190 Roseberry Street Phillipsburg, NJ 8865 Full Service B&M $103,438

    For 2021, Provident Bank had 100 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $402,339
    Net interest income $366,189
    Total noninterest income $86,238
    Gross Fiduciary activities income $2,835
    Service charges on deposit accounts $10,770
    Trading account gains and fees $727
    Additional Noninterest Income $71,906
    Pre-tax net operating income $228,154
    Securities gains (or losses, -) $255
    Income before extraordinary items $169,212
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $169,212
    Minority interest net income $0
    Net income $169,212
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $169,010

    Provident Bank's gross interest income from loans was $402,339,000.
    Provident Bank's net interest income from loans was $366,189,000.
    Provident Bank's fee based income from loans was $10,770,000.
    Provident Bank's net income from loans was $169,212,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $36,150
    Provision for credit losses $-24,339
    Total noninterest expense $248,612
    Salaries and employee benefits $143,366
    Premises and equipment expense $32,932
    Additional noninterest expense $72,314
    Applicable income taxes $59,197
    Net charge-offs $-3,574
    Cash dividends $102,014

    Provident Bank's interest expense for loans was $36,150,000.
    Provident Bank's payroll and benefits expense were $143,366,000.
    Provident Bank's property, plant and equipment expenses $32,932,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $11,280,950
    Deposits held in domestic offices $11,280,950
    Deposits by Individuals, partnerships, and corporations $9,382,705
    Deposits by U.S. Government $4
    Deposits by States and political subdivisions in the U.S. $1,898,241
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $1,816,464
    Demand deposits $710,474
    Nontransaction accounts $9,464,486
    Money market deposit accounts (MMDAs) $2,591,677
    Other savings deposits (excluding MMDAs) $6,180,293
    Total time deposits $692,516
    Total time and savings deposits $10,570,476
    Noninterest-bearing deposits $2,796,738
    Interest-bearing deposits $8,484,212
    Retail deposits $10,581,688
    IRAs and Keogh plan accounts $128,717
    Brokered deposits $732,347
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $13,775,421
    Cash & Balances due from depository institutions $506,270
    Interest-bearing balances $399,316
    Total securities $2,494,027
    Federal funds sold & reverse repurchase $206,168
    Net loans and leases $9,500,884
    Loan and leases loss allowance $80,740
    Trading account assets $65,903
    Bank premises and fixed assets $129,368
    Other real estate owned $8,731
    Goodwill and other intangibles $464,183
    All other assets $399,887

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $13,775,421
    Total Liabilities $12,143,731
    Total deposits $11,280,950
    Interest-bearing deposits $8,484,212
    Deposits held in domestic offices $11,280,950
    % insured (estimated) $53
    Federal funds purchased and repurchase agreements $116,760
    Trading liabilities $61,412
    Other borrowed funds $579,865
    Subordinated debt $0
    All other liabilities $104,744

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $9,500,884
    Loan and leases loss allowance $80,740
    Total loans and leases (domestic) $9,581,624
    All real estate loans $8,633,835
    Real estate loans in domestic offices $8,633,835
    Construction and development loans $746,644
    Residential 1-4 family construction $21,286
    Other construction, all land development and other land $725,358
    Loans secured by nonfarm nonresidential properties $4,920,524
    Nonfarm nonresidential secured by owner-occupied properties $1,246,123
    Commercial real estate & other non-farm, non-residential $3,674,401
    Multifamily residential real estate $1,364,397
    1-4 family residential loans $1,602,093
    Farmland loans $177
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $864,143
    To non-U.S. addressees $0
    Loans to individuals $22,682
    Credit card loans $0
    Related Plans $950
    Consumer Auto Loans $47
    Other loans to individuals $21,685
    All other loans & leases $60,969
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $85,213
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $21,056
    Non 1-4 family restructured loans & leases $4,473
    Total loans and leases (foreign) $0

    Provident Bank had $9,500,884,000 of loans outstanding in 2021. $8,633,835,000 of loans were in real estate loans. $746,644,000 of loans were in development loans. $1,364,397,000 of loans were in multifamily mortgage loans. $1,602,093,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $47,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 1,644 $560,280 $340,803
    Nonfarm, nonresidential loans - <$100k 141 $3,773 $26,759
    Nonfarm, nonresidential loans - $100-250k 323 $38,447 $119,031
    Nonfarm, nonresidential loans - $250k-1MM 1,180 $518,060 $439,034
    Commercial & Industrial, US addressed loans - <$1MM 2,886 $189,909 $65,804
    Commercial & Industrial, US addressed loans - <$100k 1,577 $11,241 $7,128
    Commercial & Industrial, US addressed loans - $100-250k 575 $30,078 $52,310
    Commercial & Industrial, US addressed loans - $250k-1MM 734 $148,590 $202,439
    Farmland loans - <$1MM 1 $126 $126,000
    Farmland loans - $100-250k 1 $126 $126,000