HOW PROVIDENT BANK EARNED THE DESIGNATION AS NEW JERSEY’S FIRST “SUPER COMMUNITY” BANKING FRANCHISE

BY JENNIFER KELLY • PHOTOS BY ALEX BARRETO

When Provident Financial Services acquired Lakeland Bancorp in May of 2024, the landmark collaboration was appropriately defined as New Jersey’s first “super community” banking franchise.

By combining the personalized customer experience, agility, and local presence of a community bank with the broader product range and resources of a larger institution, the merger yielded local expertise with expanded reach, more resources to invest in technology and innovation, and the ability to meet the needs of a wider customer base.

“We certainly don’t put on a cape, but what does make this bank super is that we take on some of the scale and characteristics of a larger financial institution offering a broader array of products and services while staying true to our roots as a community bank,” noted Anthony Labozzetta, president and CEO of Provident Bank. “We have the resources and technology of a larger company while still being very much in touch with the needs of our customers.”

Labozzetta explained the move allows the bank to prioritize deep customer relationships through tailored solutions, ensuring Provident retains a community feel amid ongoing growth.

“Culture is everything; if you have the right culture, everything else builds from there,” he continued, detailing how Provident has adopted three pillars to promote a positive workplace and an impactful customer experience, while cultivating trust and advocacy.

According to the banking leader, these pillars Guiding Principles, Employee Experience, and Customer Experience give Provident a sustainable competitive advantage.

“Guiding Principles define our core values and vision, setting the tone for all company interactions, both internal and external,” he said “They include act with integrity, be accountable, promote teamwork, pursue excellence, and build for the future.”

The bank’s commitment to ethical business practices, along with a customer-centric approach, helps differentiate Provident from competitors, noted Labozzetta. Positive employee and customer experiences are crucial to Provident’s culture.

“Our focus on employee and customer experiences fosters engagement and fulfillment on both ends,” he added. “This integrated approach allows Provident to stand out in our industry as a trustworthy, customer-centric institution that attracts and retains dedicated team members and seeks to create deep emotional connections with our customers.”

Provident, which was founded in Jersey City in 1839, is considered the oldest and second largest community-focused financial institution based in New Jersey. With more than $24 billion in assets and nearly 1,800 employees, the bank offers a wide range of customized financial solutions for businesses and consumers across its network of 140 branches throughout New Jersey and parts of New York and Pennsylvania.

The bank also provides fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust, and insurance services through its wholly owned subsidiary, Provident Protection Plus.

For Labozzetta, the success of all of Provident’s integrated business lines begins with a “values-driven culture,” one that fosters purpose, cohesion, and teamwork.

“Provident’s vision statement of ‘creating advocates for life’ reflects a commitment to building deep emotional connections with customers, employees, and the community,” Labozzetta explained. “This approach goes beyond providing transactional banking services; it aims to foster deep loyalty, turning customers and employees into advocates who are willing to recommend Provident to others.”

The bank has achieved this vision through referrals, focusing on a relationship-based banking model and emphasizing lifetime customer value over one-time transactions.

Enhanced employee engagement is also an integral part of the bank’s commitment to excellence.

“Employees who feel valued and aligned with Provident’s mission are more likely to deliver an exceptional customer experience, contributing to the creation of advocates,” Labozzetta said. “Engaged employees contribute to a positive workplace culture, which enhances overall performance.”

Provident’s commitment to employees’ personal and professional success includes ongoing guidance and career development in the form of training and mentorship. The bank also provides a suite of well-being services and initiatives, which Labozzetta said demonstrates Provident’s care for employees beyond the confines of their roles.

As a super community bank, “Provident is actively invested in the well-being of the communities it serves,” Labozzetta said, labeling the institution as a good corporate citizen.

“By supporting charitable endeavors and participating in volunteer initiatives and educational programs, the bank creates a positive impact and reinforces its commitment, further attracting customers who value community engagement,” he continued.

That’s why Provident actively participates in local events, sponsors initiatives, and contributes to a myriad of charitable causes. Team members also participate in financial literacy programs and first-time homebuyer workshops to help customers feel prepared to make informed financial decisions.

Another way Provident invests in the growth and prosperity of its communities is by offering specialized products and services for local businesses.

“Providing guidance, accessible financing, and advice to small-business owners allows Provident to foster a thriving local economy, directly benefiting the communities it serves,” noted Labozzetta.

All these elements and initiatives reinforce Provident’s mission statement of “deepening emotional connections with employees, customers, and the communities we serve.”

“Provident Bank is invested in understanding our customers’ financial journeys, whether they’re an individual or a business,” Labozzetta explained. “And by focusing on accessibility and customer support, Provident demonstrates that it values the customer experience. That’s what a super community bank is all about, after all.”

Provident Bank

1.800.448.7768 / provident.bank

Member FDIC