Provident Financial Services, Inc. and SB One Bancorp Announce the Receipt of SB One Bancorp Shareholder Approval and the Anticipated Closing Date in Connection with Proposed Merger

ISELIN, N.J. and PARAMUS, N.J., June 24, 2020 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE:  PFS) (“Provident”), the parent company of Provident Bank, and SB One Bancorp (NASDAQ:  SBBX) (“SB One”), the parent company of SB One Bank, announced today the receipt of approval by the SB One shareholders in connection with the proposed merger of SB One with and into Provident (the “Merger”).  

Given the receipt of approvals by the Federal Deposit Insurance Corporation and the New Jersey Department of Banking and Insurance, and the receipt of a waiver by the Board of Governors of the Federal Reserve System in lieu of an application, the parties anticipate closing  the Merger as of the close of business on July 31, 2020, subject to certain customary closing conditions.

About Provident

Provident Financial Services, Inc. (NYSE: PFS), is the holding company for Provident Bank, a community-oriented bank offering “commitment you can count on” since 1839. Provident Bank provides a comprehensive array 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. The Bank also provides fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust Company. The Provident Bank Foundation has supported all of its markets and communities by providing assistance with housing, education, health and home care for over 15 years.  For more information about Provident, please visit www.provident.bank.

About SB One

SB One Bancorp (NASDAQ: SBBX), is the holding company for SB One Bank, a full-service, commercial bank that operates regionally with 18 branch locations in New Jersey and New York. Established in 1975, SB One Bank’s strength is in its ability to build strong personal relationships with its customers and to serve the communities in which it operates. In addition to its branches and loan production offices, SB One Bank offers a full-service insurance agency, SB One Insurance Agency, Inc. and wealth services through SB One Wealth. SB One Bank reinforces its commitment to the communities in which it lives and serves through the SB One Foundation, Inc. which supports various local charitable organizations. For more information about SB One, please visit www.sbone.bank.