The Provident Bank, New Jersey’s first and oldest community bank, will mark 175 years in business on February 27, 2014.
To celebrate its anniversary, the bank will offer refreshments to visitors at all branches on February 27 th, and will host a gala event that evening at the Liberty House in Jersey City, where the bank remains headquartered since its inception. In addition, to commemorate its 175 th anniversary, Provident recently introduced a new logo whose beehive theme embraces the bank’s heritage while reflecting a modern look more representative of the 21st century.
“The Provident Institution for Savings in Jersey City” was established by an act of the New Jersey legislature on February 27, 1839, as a philanthropic organization to help the immigrant poor who fled to America in search of a better life. The Provident—or “The Old Beehive” as it came to be known by its logo—began as a meager cache of deposits amounting to a few hundred dollars kept in a little tin box.
“The Provident Bank serves as an exceptional example of progress and business evolution, as well as community development,” said Chris Martin, President, Chairman and CEO of The Provident Bank. “With humble roots and steady growth, our current position as one of the preeminent financial services firms in New Jersey is a testament to the timeless nature of the principles established by the bank’s first active president, Dudley S. Gregory, who was also the first mayor of Jersey City.“Since we have committed deeply to the communities we serve while staying true to our image of strength and partnership, Provident has grown into a publicly-owned, multi-faceted financial institution with branches throughout northern and central New Jersey with more than $7 billion in assets.” A timeline highlighting the history of The Provident Bank is available at www.ProvidentNJ.com/timeline. About The Provident Bank With $5.2 billion in deposits, The Provident Bank ( www.ProvidentNJ.com) serves its customers via a network of full-service branches throughout northern and central New Jersey. The Provident Bank is the wholly owned subsidiary of Provident Financial Services, Inc. (NYSE:PFS), which reported assets of $7.45 billion as of December 31, 2013.