Provident Bank Receives $25,000 in Matching Community Donations from The Federal Home Loan Bank of San Francisco

Rhea-AI Summary

Provident Bank has announced a $50,000 contribution to 15 local nonprofits, aided by a $25,000 matching grant from FHLBank San Francisco. This initiative, part of their Community Partnership Program, aims to support COVID-19 relief efforts. Craig G. Blunden, CEO, expressed gratitude for the partnership, highlighting its importance in helping low-income families and seniors affected by the pandemic. Provident Bank operates 13 branches in the Inland Empire and holds assets of approximately $1.17 billion.

Positive

• Provident Bank received a $25,000 matching grant from FHLBank San Francisco, totaling $50,000 in donations to local nonprofits.
• The funds support COVID-19 relief efforts for vulnerable community members, enhancing the bank's community engagement.
• Provident Bank has a robust presence with assets of approximately $1.17 billion and 13 branches serving the Inland Empire.

Negative

• None.

RIVERSIDE, Calif., April 08, 2021 (GLOBE NEWSWIRE) -- Provident Bank (“Bank”), a wholly owned subsidiary of Provident Financial Holdings, Inc., announced they received $25,000 in matching community donations from The Federal Home Loan Bank of San Francisco (“FHLBank San Francisco”) pandemic relief grant program. As a result, Provident Bank was able to provide a combined total of $50,000 to 15 local nonprofits with matching funds distributed from the Bank’s Community Partnership Program and the Provident Bank Charitable Foundation.

“We are delighted to be able to partner with FHLBank San Francisco to provide additional funds that will make a meaningful difference in aiding COVID-19 pandemic relief and recovery efforts for our local nonprofits,” stated Craig G. Blunden, Chairman and Chief Executive Officer.

“We are pleased to be able to match Provident Bank’s generous donations to nonprofits in the communities they serve,” said Marietta Núñez, Senior Vice President and Community Investment Officer at FHLBank San Francisco. “With this funding, these organizations can continue to make a difference in the lives of low-income families with children and seniors who have been struggling with the financial fallout of the pandemic.”

Through Provident Bank’s Community Partnership Program, participating nonprofits can receive annual donations simply by having their members bank with Provident Bank. Additionally, the Provident Savings Bank Charitable Foundation is a grant-based program supporting community organizations.

About the Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better.

Provident Bank

Provident Bank is a federally chartered, full-service retail bank with assets of approximately $1.17 billion. Headquartered in Riverside, California, Provident Bank has been serving the Inland Empire for over 60 years and currently operates 13 full-service retail/business banking branches in the Inland Empire. More information regarding Provident Bank can be found on its website, www.myprovident.com.

Contact: Gwen Wertz, Senior Vice President of Retail Banking (951) 686-6060

FAQ

What is the recent donation amount by Provident Bank for community support?

Provident Bank recently donated a total of $50,000 to 15 local nonprofits, including a $25,000 matching grant from FHLBank San Francisco.

What purpose does the $50,000 donation by Provident Bank serve?

The donation supports COVID-19 pandemic relief efforts for local nonprofits assisting low-income families and seniors.

Who partnered with Provident Bank for the donation announcement?

The Federal Home Loan Bank of San Francisco partnered with Provident Bank for the matching donation program.

How does Provident Bank's Community Partnership Program work?

Through this program, nonprofits receive annual donations when their members bank with Provident Bank.

What are the total assets of Provident Bank?

Provident Bank has approximately $1.17 billion in assets.