-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, C14oeyQhEL53dQ274RmStu4kI5c9XeZmUVsRzUgmmAL1b1TH4LeMcgRHZIyNEJBq 8jCo8UijTAWGZmGAyZ529g== 0000943374-05-000394.txt : 20050414 0000943374-05-000394.hdr.sgml : 20050414 20050414162722 ACCESSION NUMBER: 0000943374-05-000394 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050412 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050414 DATE AS OF CHANGE: 20050414 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PROVIDENT FINANCIAL SERVICES INC CENTRAL INDEX KEY: 0001178970 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 421547151 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-31566 FILM NUMBER: 05751126 BUSINESS ADDRESS: STREET 1: 830 BERGEN AVENUE CITY: JERSEY CITY STATE: NJ ZIP: 07306 BUSINESS PHONE: 2013331000 8-K 1 form8k_041405.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): April 12, 2005 -------------- PROVIDENT FINANCIAL SERVICES, INC. ---------------------------------- (Exact Name of Registrant as Specified in its Charter) Delaware 001-31566 42-1547151 - ----------------------------- --------------------- ------------------- (State or Other Jurisdiction) (Commission File No.) (I.R.S. Employer of Incorporation) Identification No.) 830 Bergen Avenue, Jersey City, New Jersey 07306-4599 - ------------------------------------------ ---------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (201) 333-1000 -------------- Not Applicable ------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 8.01 Other Events. ------------- On April 12, 2005 the Company' s wholly owned subsidiary, The Provident Bank, announced an agreement with the New Jersey Citizen Action and the Housing and Community Development Network of New Jersey with respect to a three-year, $125.6 million program to assist low- and moderate-income communities in New Jersey. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K. Item 9.01. Financial Statements and Exhibits --------------------------------- (a) Financial Statements of Businesses Acquired. Not applicable (b) Pro Forma Financial Information. Not Applicable (c) Exhibits. Exhibit No. Description ----------- ----------- 99.1 Press Release of The Provident Bank dated April 12, 2005. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. PROVIDENT FINANCIAL SERVICES, INC. DATE: April 14, 2005 By: /s/ Paul M. Pantozzi ------------------------------------ Paul M. Pantozzi Chairman and Chief Executive Officer EXHIBIT INDEX Exhibit Description - ------- ----------- 99.1 Press Release of The Provident Bank dated April 12, 2005. EX-99.1 2 form8k_ex991-041405.txt Exhibit 99.1 [LOGO OF THE PROVIDENT BANK] NEWS RELEASE FROM: RM International Contact: Tom Kilkenny 300 Lighting Way (201) 902-1418 Secaucus, NJ 07094 FOR: The Provident Bank Contact: Freeman Ingram 830 Bergen Avenue (201) 915-5392 Jersey City, NJ 07306 FOR IMMEDIATE RELEASE: April 12, 2005 The Provident Bank Commits $125.6 Million in Community Reinvestment for New Jersey Residents New Jersey Citizen Action and the Housing and Community Development Network of New Jersey Announce Community Reinvestment Agreement with The Provident Bank JERSEY CITY, NJ - New Jersey Citizen Action (NJCA), the state's largest consumer watchdog organization, and the Housing and Community Development Network of New Jersey (HCDNNJ), a statewide association of over 250 nonprofit affordable housing and community development corporations, held a joint press conference today with The Provident Bank to celebrate the bank's Community Reinvestment Act Agreement. Provident has committed to reinvest $125.6 million over the next three years to assist low- and moderate-income communities in New Jersey. The bank's assistance programs will offer below-market rate mortgages, discounted home improvement loans, community and economic development and grants. With this agreement, Provident begins a new partnership with NJCA and HCDNNJ. As a result of the work of NJCA and the HCDNNJ, New Jersey banks have committed over $13 billion in community development loans and mortgages for low- and moderate-income borrowers in the state. "We are extremely pleased The Provident Bank has joined the other banks in New Jersey that have agreed to sign a CRA agreement and make a public commitment to the people of New Jersey," said Phyllis Salowe-Kaye, executive director, NJCA. "Provident has been a willing partner in realizing the benefits of developing products to meet community needs and setting specific monetary goals and defining and publicizing their community reinvestment criteria for their loans." "We're pleased to have Provident as one of our new partners in community development," said Diane Sterner, executive director, Housing and Community Development Network. "Our member organizations will now have greater access to the special programs the bank offers to strengthen our communities." As part of the $125.6 million, Provident has targeted: o $70 million over the next three years in affordable mortgages targeted for low- and moderate-income borrowers throughout the state. o $15 million in discounted home equity loans o $18 million in commercial lending Provident Bank Commits $125.6 Million in Community Reinvestment April 12, 2005 Page 2 o $22 million in financing for affordable housing development o $100,000 in economic development loan pools o $200,000 available in grants for community based organizations "The Provident Bank's commitment to reinvest more than $125 million in our community will help make the American dream of home ownership possible for hundreds of people with low to moderate incomes. It benefits them and the community at large," said Provident Chairman and CEO Paul Pantozzi. "Since our founding more than 165 years ago, The Provident Bank has dedicated itself to serving the needs of working people and small businesses in our community. We see this agreement signed today as continuing and intensifying that dedication." The terms of the three-year Agreement made by The Provident Bank are as follows: I. Affordable Mortgage Products: $70 million o $70 million in below market rate mortgages with up to 1.5% discount on the interest rate and with up $2,000 available per household for closing cost assistance. II. Home Equity Loan Program: $15 million o $15 million in unsecured loans less than $2,500 and secured home loans of less than $25,000 with a discount of up to 1.25% on the interest rate. III. Commercial Lending: $18 million o Secured lines of credit for non-profits o Secured small business loans of up to $100,000. IV. Commercial Real Estate: $22 million o Financing for acquisition new construction and renovation of for-sale affordable housing o Non-residential real estate loans to non-profits. V. Economic Development: $100,000 o $50,000 for Predevelopment and acquisition funding for affordable housing projects o $50,000 for the Predevelopment Loan Pool for Community and Economic Development. VI. Grants and In-Kind Contributions: $200,000 o $200,000 in operating grants available to community-based non-profit organizations. Total Agreement from The Provident Bank: $125.6 million over three years. NJCA is the state's largest independent citizen watchdog organization with over 100 affiliate organizations and 60,000 individual and family members. NJCA offers free mortgage and credit counseling to first-time homebuyers in 19 offices in urban areas throughout the state. With more than $4 billion in deposits, The Provident Bank serves its customers via a network of 78 branches throughout northern and central New Jersey. The Provident Bank is the wholly-owned subsidiary of Provident Financial Services, Inc. (NYSE:PFS) which reported assets of $6.4 billion as of December 31, 2004. ### -----END PRIVACY-ENHANCED MESSAGE-----