Provident Bank in Montebello, New York (NY), NJ



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Provident Bank
GeneralFDIC Certificate #: 30337
Status: Active
Federal Reserve ID: 125471
Date Established: January 01, 1895
WWW: http://www.providentbanking.com
Trust Powers Granted: Yes
Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
Offices: 36 (Domestic: 36, Interstate: Yes)
OTS Docket #: 5190
FDIC's unique #: 43171
Numeric code: 37
Regulator: OCC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
FDIC Insured: Yes
Insured Savings Institution: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: No
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: August 09, 1949
Last Structure Change Effective Date: July 21, 2011
Last Structure Change Process Date: July 21, 2011
Last Data Update: July 21, 2011
Data Source Date: April 05, 2012
LocationAddress: 400 Rella Boulevard, Montebello, NY 10901
County: Rockland
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: New York
FDIC Field Office: New York City
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Northeast
Metropolitan Statistical Area (MSA): New York, NY (#5600)
Consolidated Metropolitan Statistical Area (CMSA): New York-Northern New Jersey-Long Island, NY-NJ-CT-PA (#70)
Combined Statistical Area (CSA): New York-Newark-Bridgeport, NY-NJ-CT-PA (#408)
Core Based Statistical Area (CBSA): New York-Northern New Jersey-Long Island, NY-NJ-PA (#35620)
CBSA Metro Statistical Area: New York-Northern New Jersey-Long Island, NY-NJ-PA (#35620)
Core Based Statistical Division: New York-White Plains-Wayne, NY-NJ (#35644)
History of ChangesChange in Primary Regulatory Agency
Financial SummaryTotal assets: $3,075.6 mil
Equity capital: $414.2 mil
Deposits held in domestic offices: $2,161.0 mil
Return on assets (ROA): 0.35% ($10.8 mil)
Quarterly return on assets: 0.73% ($22.5 mil)
Return on Equity (ROE): 2.60% ($10.8 mil)
Quarterly return on equity: 5.49% ($22.7 mil)
Net income: $10.5 mil
Quarterly Net income: $5.6 mil
Pretax return on assets: 0.41% ($12,609.9 mil)
Quarterly Pretax return on assets: 0.98% ($30,140.8 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)507
Total assets$3,075,596
Cash and due from depository institutions$40,948
Interest-bearing balances$3,639
Securities$966,502
Federal funds sold & reverse repurchase agreements$0
Net loans & leases$1,750,978
Loan loss allowance $28,245
Trading account assets$0
Bank premises and fixed assets$39,556
Other real estate owned$5,625
Goodwill and other intangibles$161,237
All other assets$110,750
Life insurance assets$3,075,596
Total liabilities and capital$2,661,386
Total liabilities$2,160,986
Total deposits$2,055,569
Interest-bearing deposits$2,160,986
Deposits held in domestic offices$80
% insured (estimated)206696.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$268,744
Other borrowed funds $187
Subordinated debt $24,773
All other liabilities $414,210
Total equity capital$414,210
Total bank equity capital$414,210
Perpetual preferred stock$0
Common stock$386
Surplus$299,879
Undivided profits $113,945
Memoranda
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $45,913
Earning assets $0
Long-term assets (5+ years) $9,430
Average Assets, year-to-date $2,721,119
Average Assets, quarterly $0
Volatile liabilities $3,002,848
Insider loans $3,102,012
FHLB advances $2,111,344
Loans and leases held for sale $2,908,819
Unused loan commitments $57,392
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $247,433
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $352,486
Derivatives$131
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $111,689
Total interest expense $20,676
Net interest income $91,013
Provision for loan and lease losses $16,434
Total noninterest income $14,983
Fiduciary activities $0
Service charges on deposit accounts $10,387
Trading account gains & fees -$434
Additional noninterest income $5,030
Total noninterest expense $84,978
Salaries and employee benefits $44,249
Premises and equipment expense $16,428
Additional noninterest expense $24,301
Pre-tax net operating income $4,584
Securities gains (losses) $7,684
Applicable income taxes $1,769
Income before extraordinary items $10,499
Extraordinary gains - net $0
Net income attributable to bank $10,499
Net charge-offs $0
Cash dividends $10,499
Sale, conversion, retirement of capital stock, net $19,225
Net operating income $10,007
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.23%
Cost of funding earning assets 0.78%
Net interest margin 3.45%
Noninterest income to earning assets 0.57%
Noninterest expense to earning assets 3.22%
Net operating income to assets 0.13%
Return on assets (ROA) 0.35%
Pretax return on assets 0.41%
Return on equity (ROE) 2.60%
Retained earnings to average equity (YTD only) 0.12%
Net charge-offs to loans 1.12%
Credit loss provision to net charge-offs 85.48%
Efficiency ratio1.09%
Assets per employee$79,176
Cash dividends to net income (YTD only)6.07%
Condition Ratios (%)
Loss allowance to loans 95.31%
Loss allowance to noncurrent loans 1.59%
Noncurrent assets plus other real estate owned to assets 61.52%
Noncurrent loans to loans 1.68%
Net loans and leases to deposits2.58%
Net loans and leases to core deposits 81.03%
Equity capital to assets 84.80%
Core capital (leverage) ratio 13.47%
Tier 1 risk-based capital ratio 8.51%
Total risk-based capital ratio 11.72%
Memoranda
Average assets$13
Average earning assets$3,002,848
Average equity $403,812
Average loans $2,639,921
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$3,612
Number of Accounts1
Personal trust and agency accounts$3,598
Employee benefit-defined contribution accounts$2,591
Employee benefit-defined benefit accounts$0
Other retirement accounts$0
Corporate trust and agency accounts$132
Investment management agency accounts$0
Other fiduciary accounts$875
Fiduciary accounts held in foreign offices$0
Non-managed Assets$0
Number of Accounts17
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$14
Corporate trust and agency accounts$1
Other fiduciary accounts$13
Fiduciary accounts held in foreign offices$0
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1 New Jersey Branch as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
2376797Lodi Branch2 Arnot Street, Lodi, NJ 7644October 25, 1999Full Service Brick and Mortar
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35 New York Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
043171Provident Bank400 Rella Boulevard, Montebello, NY 10901January 01, 1895Full Service Brick and Mortar
1242530Rock Hill Branch253 Rock Hill Drive, Rock Hill, NY 12775November 15, 1968Full Service Brick and Mortar
2280049Orangeburg Branch375 Route 303, Orangeburg, NY 10962January 01, 1895Full Service Brick and Mortar
4280051Congers Branch 41 Lake Road West, Suite 1, Congers, NY 10920January 01, 1895Full Service Brick and Mortar
5280052Airmont Branch196 Route 59, Airmont, NY 10901January 01, 1895Full Service Brick and Mortar
6242535Chester Branch3 Bryle Place, Chester, NY 10918November 06, 1985Full Service Brick and Mortar
7242536Wallkill Town Center Branch485 Schutt Rd, Middletown, NY 10940October 19, 1992Full Service Brick and Mortar
841564Suffern Branch71 Lafayette Ave, Suffern, NY 10901January 01, 1877Full Service Brick and Mortar
9280054Pearl River Office26 North Middletown Road, Pearl River, NY 10965October 01, 1994Full Service Brick and Mortar
11236537Hillcrest Branch (Spring Valley)72 West Eckerson Road, Spring Valley, NY 10977March 22, 1996Full Service Brick and Mortar
12280055Nanuet Branch44 West Route 59, Nanuet, NY 10954April 15, 1996Full Service Brick and Mortar
13361238Havershaw Branch38-40 New Main Street, Haverstraw, NY 10927September 24, 1998Full Service Brick and Mortar
144708Florida Branch7 Edward J. Lempka Drive, Florida, NY 10921January 01, 1933Full Service Brick and Mortar
15213433Slate Hill BranchPo Box 305 1992 Route 284, Slate Hill, NY 10973October 28, 1974Full Service Brick and Mortar
1610219The Warwick Savings Bank Branch18 Oakland Avenue, Warwick, NY 10990January 01, 1875Full Service Brick and Mortar
17236398Monroe Branch591 Route 17m, Monroe, NY 10950January 04, 1971Full Service Brick and Mortar
18518626Harriman Branch 17340 Larkin Drive, Monroe, NY 10950Febuary 23, 2003Full Service Brick and Mortar
19242531Pine Bush Branch 2236 Boniface Drive, Pine Bush, NY 12566Febuary 10, 1975Full Service Brick and Mortar
20242533Blooming Grove Branch815 Route 208, Monroe, NY 10950April 01, 1982Full Service Brick and Mortar
21360241Carmel Branch1875 Route 6, Carmel, NY 10512October 30, 1989Full Service Brick and Mortar
22419225Goshen Branch60 Matthews Street, Goshen, NY 10924June 14, 2003Full Service Brick and Mortar
26492421Commercial Loan Center / Tarrytown580 White Plains Road, Tarrytown, NY 10591December 03, 2007Full Service Brick and Mortar
27280048New City Branch179 South Main Street, New City, NY 10956January 01, 1895Full Service Brick and Mortar
28280050Stony Point Branch153 South Liberty Dr Route 9w, Stony Point, NY 10980January 01, 1895Full Service Brick and Mortar
29518627Nyack Branch24 North Highland Avenue, Nyack, NY 10960January 25, 2010Full Service Brick and Mortar
30236399Woodbury BranchHollett Lane And Route 32, Highland Mills, NY 10930January 04, 1971Full Service Brick and Mortar
31236401Wallkill East Branch1 Industrial Drive, Suite 100, Middletown, NY 10941July 27, 1998Full Service Brick and Mortar
32280053Mt. Ivy Branch1633 Route 202, Pomona, NY 10970March 12, 1990Full Service Brick and Mortar
34518632Kerhonkson Branch6100 Route 209, Kerhonkson, NY 12446January 14, 2004Full Service Brick and Mortar
37236402Newburgh Branch 361425 Route 300, Newburgh, NY 12550December 06, 1999Full Service Brick and Mortar
38518628Warwick - Shoprite Branch 11153 Route 94 South, Warwick, NY 10990December 03, 2007Full Service Brick and Mortar
39242534South Fallsburg Branch5193 Main Street, South Fallsburg, NY 12779November 15, 1984Full Service Brick and Mortar
40518629Yonkers Branch 17733 Yonkers Ave, Suite Ll1, Yonkers, NY 10704March 29, 2010Full Service Brick and Mortar
43518630White Plains Branch 531133 Westchester Avenue, Suite N224, White Plains, NY 10604March 09, 2009Full Service Brick and Mortar
44518631Ellenville Branch70 Canal Street, Ellenville, NY 12428January 04, 2004Full Service Brick and Mortar
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