Provident Bank Employees Raise $80,000 for Local Nonprofit Organizations
Rhea-AI Summary
Provident Bank (NYSE:PFS) announced that employees raised $80,000 through its 2025 "We Wear Jeans for a Cause" program and awarded grants to five local nonprofits on Jan. 13, 2026. Funds were distributed across NY, NJ, and PA: Queens Community House $10,000, Isles, Inc. $20,000, PRAHD $20,000, New Bethany $15,000, and Rising Tide Community Loan Fund $15,000. The grants support affordable housing, soup kitchen operations, and small business lending to strengthen community stability and economic growth. Provident credited employee contributions for enabling expanded local impact and thanked team members for their support.
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News Market Reaction
On the day this news was published, PFS declined 0.10%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
PFS fell 1.69% while close peers were mixed: PRK up 1.17%, BANC up 2.17%, BOH, WAFD, and WSBC down modestly. No peers appeared in the momentum scanner, suggesting today’s move was more stock-specific than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 06 | Economic survey | Positive | +0.1% | 2026 economic outlook survey showing increased capex and hiring plans. |
| Jan 05 | Earnings call notice | Positive | +2.0% | Announcement of Q4 and year-end 2025 results release and call. |
| Dec 17 | Leadership changes | Positive | +0.4% | New hires and promotions in technology, data, sales, and CRE. |
| Nov 25 | Crisis fund grants | Positive | +3.5% | Launch of Crisis Response Fund with <b>$50,000</b> food insecurity grants. |
| Nov 06 | Small business grants | Positive | -1.0% | Announcement of <b>$50,000</b> in SBRG grants to six nonprofits. |
Recent community and corporate news has generally aligned with modest positive price reactions, with one community-grant headline coinciding with a small decline.
Over the last few months, PFS has highlighted a stream of community and corporate developments. On Nov 6, 2025 and Nov 25, 2025, the bank announced grant programs totaling $50,000 and a Crisis Response Fund committing $50,000, both focused on local nonprofits and food insecurity. Executive hires and promotions on Dec 17, 2025 emphasized technology, data, and commercial real estate capabilities. The Jan 5–6, 2026 items covered scheduling of the upcoming earnings call and an economic outlook survey. Today’s employee-funded grants continue this community-support narrative.
Market Pulse Summary
This announcement highlights an employee-funded program directing $80,000 to five nonprofits across NY, NJ, and PA, reinforcing PFS’s ongoing community-support strategy seen in earlier grant initiatives. It underscores engagement around housing, food insecurity, and small business lending. In context with recent corporate developments and regulatory filings, investors may monitor how such community efforts complement core drivers like earnings performance, asset quality, and capital management over time.
AI-generated analysis. Not financial advice.
Empowering Provident’s Employees to Support Local Communities Through “We Wear Jeans for a Cause”
ISELIN, N.J., Jan. 13, 2026 (GLOBE NEWSWIRE) -- Provident Bank, a leading New Jersey-based financial institution, recently awarded grants to recipients of their 2025 We Wear Jeans for a Cause program, a unique employee-funded initiative that empowers team members to support nonprofit organizations.
In total, the employee-funded initiative generated
- Queens Community House:
$10,000 t o strengthen housing initiatives in Queens, NY, helping individuals and families secure safe, stable living conditions. - Isles, Inc.:
$20,000 t o expand affordable housing and community programs, ensuring more residents in Mercer County, NJ have access to quality living. - PRAHD:
$20,000 t o support affordable housing development in Perth Amboy, NJ, contributing to the city’s revitalization efforts. - New Bethany:
$15,000 t o fund its soup kitchen, addressing food insecurity in Bethlehem, PA. - Rising Tide Community Loan Fund:
$15,000 t o support small business lending initiatives, fostering entrepreneurship and economic growth in Lehigh, PA.
“The funds will enable these organizations to continue their essential work and expand the impact of their programs,” said Leonardo Ramos, First Vice President, CRA Officer, Provident Bank. “Through initiatives like We Wear Jeans for a Cause, we are able to support organizations that make a difference in our communities.”
The bank extends its gratitude to all team members whose generosity and commitment strengthen the bank’s presence, support local businesses, and contribute to the growth and vitality of the communities it serves. Every contribution helps those in need and reflects a commitment to fostering meaningful, lasting assistance through active community involvement.
About Provident Bank
Founded in Jersey City in 1839, Provident Bank is the oldest community-focused financial institution based in New Jersey and is the wholly owned subsidiary of Provident Financial Services, Inc. (NYSE:PFS). With assets of
Media Contact:
Keith Buscio
Keith.Buscio@provident.bank
Vested
Providentbank@fullyvested.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f3368c7d-1fcc-4545-bfe8-799a1653e83a
FAQ
How much did Provident Bank (PFS) employees raise through We Wear Jeans for a Cause in 2025?
Which organizations received Provident Bank (PFS) grants and how much did each get?
What community areas did Provident Bank (PFS) target with the 2025 donations?
What programs will the Provident Bank (PFS) grants support?
When did Provident Bank (PFS) announce the 2025 We Wear Jeans for a Cause grants?
How does Provident Bank (PFS) describe employee impact from the We Wear Jeans for a Cause program?
