Provident Financial Services

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Provident Financial Services is a financial company based in New Jersey, United States. The company was founded in 1888 and is currently a member of the S&P 400 MidCap index. Provident Financial Services offers a wide range of financial services, including personal and business banking, insurance, wealth management, and trust services.
The company operates under two main brands – Provident Bank and Provident Bank Mortgage. As of 2021, Provident Financial Services has over $13 billion in total assets and serves customers through 78 branches in New Jersey and Pennsylvania.
In addition to traditional banking services, Provident Financial Services also offers online and mobile banking options, making it easier for customers to manage their finances anytime, anywhere.
In recent years, Provident Financial Services has received numerous awards and recognition for its financial performance and community involvement. This includes being named one of America's Best Banks by Forbes in 2020 and 2021 and receiving an "Outstanding" rating from the FDIC for its community involvement. The company also supports various community initiatives through its charitable foundation, including education, housing, and health-related programs.
Provident Financial Services prides itself on its commitment to community banking and personalized customer service. It aims to build long-term relationships with its customers and help them achieve their financial goals.

1. Long History: Provident Financial Services was founded in 1839, making it one of the oldest financial institutions in the United States. This long history reflects its stability and resilience in the face of economic changes.
2. Community Focus: The company has a strong commitment to its local communities and continuously gives back through donations, volunteer work, and other initiatives. This has helped establish a strong reputation and loyal customer base.
3. Financial Stability: The company has consistently demonstrated financial stability, earning prestigious accolades such as Forbes’ “Best Banks in America” and SNL Financial’s “Top 100 Performers”.
4. Diversified Services: Provident Financial Services offers a diverse range of financial services, including personal and commercial banking, investment management, and insurance. This allows it to cater to the diverse needs of its customers.
5. Customer-Centric Approach: The company prioritizes customer satisfaction and has a reputation for offering personalized and high-quality customer service. It also invests in modern technology to enhance the customer experience.
6. Strong Values: Provident Financial Services values integrity, honesty, and responsibility in all aspects of its business and prides itself on transparency and ethical practices.
7. Employee Engagement: The company places a strong emphasis on employee development and engagement, resulting in high employee satisfaction and retention rates.
8. Strong Performance: Despite facing challenges and market changes, Provident Financial Services has consistently delivered strong financial performance, making it a respected and reliable choice for investors.
9. Socially Responsible: The company is committed to making a positive impact in the communities it serves, through various initiatives such as affordable housing programs and scholarships for local students.
10. Strategic Growth: Provident Financial Services has a track record of strategic growth through acquisitions, partnerships, and expansions, positioning itself for continued success in the future.

The Provident Financial Services company's business model is focused on providing financial services to customers, including personal and commercial banking, wealth management, and insurance services. This involves leveraging their knowledgeable team of bankers, advisors, and insurance professionals to provide personalized financial solutions that meet the unique needs of their clients. The company also prioritizes building long-term relationships with customers and maintaining strong community ties as part of their business model.

1. Founded in 1889: Provident Financial Services was founded in 1889 as Provident Institution for Savings in the Town of Perth Amboy, New Jersey. It was originally created as a community-based savings and loan institution to serve the needs of local residents.
2. One of the oldest financial institutions in New Jersey: Provident Financial Services is one of the oldest financial institutions in New Jersey and has been serving the state for over 130 years.
3. A mutual holding company structure: Provident Financial Services operates as a mutual holding company, meaning it is owned by its depositors and borrowers rather than shareholders. This structure allows for a focus on serving the best interests of its customers rather than maximizing profits for shareholders.
4. Focus on community banking: Provident Financial Services is dedicated to community banking and has a strong commitment to supporting the communities it serves. It offers a range of personal and business banking services, as well as community investment programs and initiatives.
5. Strong financial performance: Despite economic challenges, Provident Financial Services has demonstrated consistently strong financial performance. It has been consistently named one of the best-performing banks in the country by S&P Global Market Intelligence and was named the Best Bank in NJ by Forbes in 2020.
6. Expansion through mergers and acquisitions: Provident Financial Services has grown through a series of strategic mergers and acquisitions over the years. Most recently, in 2015, it acquired Team Capital Bank, increasing its presence in eastern Pennsylvania.
7. A diverse board of directors: Provident Financial Services has a diverse board of directors, with a majority of women and individuals from ethnic and racial minorities. This diversity reflects the company’s commitment to inclusivity and representation.
8. Philanthropic efforts: Provident Financial Services has a strong philanthropic program, with a focus on supporting education, healthcare, and community development. It has contributed millions of dollars to various charitable organizations and causes in its local communities.
9. Committed to sustainability: Provident Financial Services is committed to sustainable and responsible business practices. It has implemented various initiatives to reduce its environmental impact, such as using renewable energy sources, reducing waste, and promoting eco-friendly practices among employees.
10. Listed on the New York Stock Exchange: Provident Financial Services is listed on the New York Stock Exchange under the ticker symbol PFS. It has a market capitalization of over $3 billion as of 2021.