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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Provident Financial Services Inc | NYSE:PFS | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.35 | 2.30% | 15.57 | 15.57 | 15.37 | 15.51 | 616,702 | 01:00:00 |
NRTC program funding from Provident Bank has been awarded by the Department to the following non-profit organizations:
“Provident Bank is proud to support these worthy non-profit organizations through the NRTC program,” said Joseph Spatola, Senior Vice President, Chief Compliance and CRA Officer. “Our investment in this program is essential to these organizations’ efforts to advance their missions and revitalize their respective neighborhoods, and is consistent with our commitment to helping the communities we serve,” added Spatola.
The NRTC Program, which is administered by DCA’s Division of Housing and Community Resources, is designed to spur the renewal of neighborhoods at risk of experiencing a downturn. It accomplishes this through strategies developed by local residents and community-based nonprofit organizations that assist them, as well as through financial contributions from corporations.
The community organizations prepare, submit, and receive approval from DCA for multi-year revitalization plans for the neighborhoods they serve. The corporations contribute funding to the NRTC Program and in return receive a 100 percent tax credit against various New Jersey state taxes. Every year, projects from the approved revitalization plans are listed in a qualified projects pool from which corporations choose the ones they want to financially support.
The NRTC funds must be used by the nonprofit organizations for projects and activities that will implement the goals of the approved neighborhood plans.
About Provident BankProvident 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 $13.62 billion as of March 31, 2022. With $11.37 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 Nassau and Queens counties 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, Provident Protection Plus, Inc. For more information about Provident Bank, visit www.provident.bank or join the conversations on Facebook (ProvidentBank) and Twitter (@ProvidentBank).
CONTACT: Keith Buscio732-504-9407Keith.buscio@provident.bank
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