Provident Bank

What sets Provident Bank apart

How large is Provident Bank?

The balance sheet of Provident Bank at Q2 2026: assets $25.7 bn, deposits $19.6 bn, net loans $19.9 bn (loans equal to 101.30% of deposits). Securities make up 13.9% of total assets at Provident Bank. Since Q1 2016, when Provident Bank held $9.0 bn, its assets grew 184.2%. In the year to Q2 2026, deposits at Provident Bank rose 4.5% while its total assets rose 4.5%. At Q2 2026, Provident Bank employed 1,842 full-time equivalent staff across 139 offices, about $13.9 mn of assets per employee and $141.1 mn of deposits per office.

How much funding at Provident Bank is uninsured?

At Provident Bank, uninsured deposits (above the FDIC limit) made up 54.14% of domestic deposits at Q2 2026 (+2.00 pp on a year earlier); Provident Bank ranks 53rd of 500 on this measure. In dollars, Provident Bank estimated $10.6 bn of uninsured deposits.

Key facts, Q2 2026

US rank of Provident Bank: 1 = highest unless marked 1 = lowest.

The CET1 ratio of Provident Bank stood at 12.10% in Q2 2026, +0.29 pp year on year. Low and high at Provident Bank since Q1 2016: 9.96% (Q4 2020) to 12.26% (Q1 2026). Equity capital of Provident Bank at Q2 2026: $3.2 bn, or 12.6% of total assets. Provident Bank also reported a total capital ratio of 13.00% for Q2 2026, and a tier 1 leverage ratio of 10.53%.

On held-to-maturity securities, Provident Bank carried an unrealized loss of $7.0 mn at Q2 2026, equal to 0.2% of equity capital. The loss narrowed by $3.3 mn over the year. Its deepest point: $27.4 mn in Q3 2023. The available-for-sale portfolio of Provident Bank showed an unrealized loss of $130.8 mn at Q2 2026; the loss narrowed by $15.9 mn over the year.

For the year to Q2 2026, Provident Bank earned a return on equity of 10.63%; return on assets: 1.35%. Net interest margin at Provident Bank: 3.57%, +0.07 pp in a year. Provident Bank net income: $170.1 mn, up 10.7% year on year. The efficiency ratio of Provident Bank was 45.74%: about 46 cents cost per revenue dollar, against 50 cents at the median peer.

At Q2 2026, noncurrent loans were 0.55% of total loans at Provident Bank; net charge-offs: 0.05% of average loans. Gross loans and leases at Provident Bank: $20.1 bn, up 4.9% in a year.

The peer group of Provident Bank is the 6 banks nearest to it by total assets at Q2 2026: 3 larger and 3 smaller. Of the peers, 0 share the charter type of Provident Bank (state-chartered stock savings bank), 6 sit in the same size group ($10 bn to $100 bn) and 0 have head offices in New Jersey. Against them, Provident Bank shows CET1 ratio 12.10% against a peer median of 14.59%, return on equity 10.63% against a peer median of 11.34% and uninsured deposit share 54.14% against a peer median of 34.84%.

The FDIC history of Provident Bank, oldest first; figures before and after each event are not like for like.

1. 31 July 2020. Absorbed SB One Bank (FDIC certificate 22221).
2. 16 May 2024. Absorbed Lakeland Bank (FDIC certificate 19953).

Large one-quarter moves at Provident Bank

• Total assets at Provident Bank changed by +70.3% in the quarter to 2024-06-30: Merger -Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from Lakeland Bank.