Dear Valued Customers, Friends & Family,
At SB One Bancorp’s shareholder meeting on June 24th, SB One Bank and Provident Bank received approval on the proposed merger of SB One with and into Provident which is anticipated to close at the end of business on July 31st. Our merger is another milestone for both organizations, as it will make Provident the third-largest bank, headquartered in New Jersey.
We should feel very proud of this moment, despite challenges over the past few months, Provident and SB One Bank are working together to build a strong and valuable franchise even more dedicated to our customers, business partners and communities in our region. Provident has been a prominent part of the local banking landscape for more than 180 years and similar to SB One Bank, has a history of serving the community, a strong reputation for listening to their customers, and addressing their ever-changing needs.
Our goal is to bring you the very best of both banks, and we are confident that there will be many benefits to our customers. You will continue to experience the personal service you have come to expect from SB One Bank with the addition of enhanced services: cash management, commercial banking, insurance and wealth management, and an expanded branch network under Provident Bank.
There are so many great things on the horizon, and we look forward to sharing it all with you soon. In the meantime, rest assured, there will be no immediate impact on our customers upon the legal merger. We will be communicating with you over the next few months to make sure that you are prepared for the integration this fall.
If you have any questions, please do not hesitate to contact me at firstname.lastname@example.org.
Thank you as always for your business and your trust in SB One Bank.
President & CEO
SB One Bank