Location provides commercial real estate and C&I lending services
Plymouth Meeting, PA (12/1/2021) Provident Bank is pleased to announce their new Plymouth Meeting commercial lending office located at 401 Plymouth Road. The new location, which now serves as the Bank’s southeastern PA commercial banking hub, houses commercial lenders, treasury management specialists, and credit officers, who are dedicated to serving the needs of businesses in the region. The space provides room for expansion to accommodate up to 25 employees.
The decision to move to Plymouth Meeting was based on a combination of factors, including a premier location with accessibility to major highways including the Blue Route (I-476) and The Pennsylvania Turnpike (I-276), with a direct connection to the Schuylkill Expressway (I-76). In addition to its physical address, the bank has identified this as a target market. The number of businesses and commercial development in the Greater Philadelphia Metro area presents an opportunity for Provident to grow its lending portfolio.
“This new office demonstrates our commitment to businesses of the Greater Philadelphia Metro Market,” said Anthony Labozzetta, President & COO. “Our ability to combine the personalized service of a community bank with the resources and capabilities of a regional bank offers a unique advantage,” added Labozzetta.
The new office is home to lending specialists experienced in both commercial real estate and commercial and industrial (C&I) lending. A seasoned commercial real estate lending team provides financing solutions to purchase or refinance multi-family housing developments, industrial buildings, mixed-use properties, office space, retail properties, and land development.
The knowledgeable C&I lenders help customers secure short or long-term commercial financing options. Other services include lines of credit, acquisition financing, and term loans. The C&I lending team focuses on a target market consisting of businesses with $5 million - $75 million in annual revenues, and as relationship lenders, they look to support all areas of customers’ needs.
“With assets in excess of $13 billion, Provident Bank is well equipped to service both small and large needs of customers,” said Bruce Dansbury, Pennsylvania Market President. “We’ve been
slowly and steadily expanding in the Greater Philadelphia Metro area since 2014. The region offers a vibrant market for commercial real estate and C&I lending. We are thrilled to bring our talented team of highly-specialized experts to the region,” added Dansbury.
About Provident Bank
Provident Bank, a community-oriented financial institution offering “Commitment you can count on” since 1839, is the wholly owned subsidiary of Provident Financial Services, Inc. (NYSE:PFS), which reported assets of $13.39 billion as of September 30, 2021. With $10.84 billion in deposits, Provident Bank provides a comprehensive suite of financial products and services through its network of branches throughout northern and central New Jersey, as well as Bucks, Lehigh and Northampton counties in Pennsylvania and Queens County in New York. 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, SB One Insurance Agency, Inc. For more information about Provident Bank, visit www.provident.bank or join the conversations on Facebook (ProvidentBank) and Twitter (@ProvidentBank).