Provident Strengthens its Commitment to Local Communities with $50,000 in Grants to 6 Non-Profit Organizations

Rhea-AI Summary

Provident Bank (NYSE:PFS) awarded $50,000 in grants to 6 non-profit organizations through the Federal Home Loan Bank of New York’s Small Business Recovery Grant (SBRG) Program. The grants, up to $10,000 each, support small businesses and nonprofits facing challenges from rates, inflation, supply-chain issues, and energy costs.

Market Context

A prior $1 million grant announcement preceded a -2.33% 24-hour reaction, while platform records sho...

Analysis

A prior $1 million grant announcement preceded a -2.33% 24-hour reaction, while platform records show recent insider activity as Net Selling. That comparison frames the award as community-focused news with price sensitivity and ownership risk to watch.

Key Figures

Total grants: $50,000 Organizations funded: 6 non-profit organizations Bloom Empower grant: $5,000 +5 more

8 metrics

Total grants $50,000 Awarded through the FHLBNY Small Business Recovery Grant Program

Organizations funded 6 non-profit organizations Recipients of the grant awards

Bloom Empower grant $5,000 Grant recipient

LISC NJ grant $10,000 Grant recipient

Mercer County Community College Foundation grant $5,000 Grant recipient

New Life Community Development Corporation grant $10,000 Grant recipient

Rising Tide Capital grant $10,000 Grant recipient

SAFE in Hunterdon grant $10,000 Grant recipient

Historical Context

5 past events · Latest: Jul 15 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 15	Leadership appointment	Positive	+0.4%	Senior vice president appointed to oversee deposit and payments operations
Jul 01	Earnings call scheduling	Neutral	+1.4%	Second-quarter 2026 results and conference call dates were announced
Jun 23	Leadership appointment	Positive	+1.6%	Adriano Duarte was appointed executive vice president and chief financial officer
Jun 17	Community grant award	Positive	-2.3%	$1 million awarded to ten New Jersey nonprofit organizations
Jun 04	Leadership appointment	Positive	+3.7%	Annamaria Vitelli was appointed chief wealth officer and Beacon Trust president

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Four of five recent news events had positive 24-hour reactions, while the June 17 grant announcement was followed by a -2.33% reaction.

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Funding is provided through the FHLBNY Small Business Recovery Grant Program

ISELIN, N.J., July 22, 2026 (GLOBE NEWSWIRE) -- Provident Bank, a leading New Jersey-based financial institution, has announced it recently awarded $50,000 in grants to 6 non-profit organizations as part of the Federal Home Loan Bank of New York (FHLBNY) Small Business Recovery Grant (SBRG) Program. The SBRG Program provides funds to benefit the small businesses of FHLBNY members, including farms and non-profit organizations. Through the SBRG Program, members can provide grants of up to $10,000 to qualifying small businesses that have faced economic challenges due to the rate environment, inflation, supply-chain constraints, and/or rising energy costs.

"Our partnership with the Federal Home Loan Bank of New York continues to create opportunities to make a meaningful difference in the communities we serve," said Leonardo Ramos, First Vice President, CRA Officer, Provident Bank. "These recovery grants provide valuable resources that help local nonprofit organizations expand their impact, strengthen their operations, and continue delivering critical services to individuals and families."

As a dedicated member of the FHLBNY, Provident Bank continues to actively invest in the economic vitality of its local neighborhoods by ensuring small businesses and non-profits have the resources necessary to continue thriving.

The following non-profit organizations received grants through the FHLBNY SBRG Program:

• Bloom Empower - $5,000
• LISC NJ - $10,000   
• Mercer County Community College Foundation - $5,000
• New Life Community Development Corporation - $10,000
• Rising Tide Capital - $10,000
• SAFE in Hunterdon - $10,000
  
  

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 $25.20 billion as of March 31, 2026, Provident Bank offers a wide range of customized financial solutions for businesses and consumers with an exceptional customer experience delivered through its convenient network of 136 branches across New Jersey and parts of New York and Pennsylvania, via mobile and online banking, and from its customer contact center. The bank also provides fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust Company, and insurance services through its wholly owned subsidiary, Provident Protection Plus, Inc. To learn more about Provident Bank, go to www.provident.bank or call our customer contact center at 800.448.7768.

Media Contact:
Keith Buscio
Keith.Buscio@provident.bank

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b7d43e87-85b3-4cdd-b803-24ffa026df6b

FAQ

What did Provident Bank (NYSE:PFS) announce about community grants on July 22, 2026?

Provident Bank announced it awarded $50,000 in grants to six non-profit organizations on July 22, 2026. According to Provident Bank, these awards were made through the Federal Home Loan Bank of New York Small Business Recovery Grant Program to support small businesses and nonprofits.

Which non-profit organizations received the $50,000 in Provident Bank (PFS) community grants?

Six non-profits received grants: Bloom Empower ($5,000), LISC NJ ($10,000), Mercer County Community College Foundation ($5,000), New Life Community Development Corporation ($10,000), Rising Tide Capital ($10,000), and SAFE in Hunterdon ($10,000), according to Provident Bank.

What is the FHLBNY Small Business Recovery Grant Program used by Provident Bank (PFS)?

The FHLBNY Small Business Recovery Grant (SBRG) Program provides funds to benefit small businesses of member institutions. According to Provident Bank, members can offer grants up to $10,000 to qualifying small businesses and non-profits facing economic challenges from rates, inflation, supply-chain constraints, and energy costs.

How does the $50,000 grant initiative fit into Provident Bank’s (PFS) community strategy?

The $50,000 in grants reflects Provident Bank’s focus on supporting small businesses and non-profits in its local neighborhoods. According to Provident Bank, its partnership with FHLBNY helps strengthen operations of local organizations and sustain critical services for individuals and families.

What are Provident Bank’s key financial and branch statistics mentioned with this grant news?

Provident Bank reported $25.20 billion in assets as of March 31, 2026 and operates 136 branches across New Jersey, parts of New York, and Pennsylvania. According to Provident Bank, it offers banking, wealth management, and insurance services through its subsidiaries.

How much can an individual small business receive under the FHLBNY SBRG Program used by Provident Bank (PFS)?

Under the FHLBNY Small Business Recovery Grant Program, members can provide grants up to $10,000 to a qualifying small business or non-profit. According to Provident Bank, these grants target entities hurt by rate conditions, inflation, supply-chain issues, and rising energy costs.