Provident Direct was the direct banking division of Provident Bank, a community lender that was headquartered in Maryland. At its peak, Provident had over 140 branches in Maryland and Virginia, 1000s of ATMs nationwide, and over $6.2 billion in assets. In late 2008, M&T Bank, headquartered in Buffalo, New York, announced that it would acquire Provident Bank for around $400 million. Provident's branch banking locations were rebranded with the M&T logo when the deal was completed in 2009.
Provident Bank was originally created in 1886 as the Provident Savings Bank of Baltimore. The company served the Greater Baltimore, Greater Washington and Central Virginia communities until 2008, when it fell victim to the subprime mortgage crisis. However, M&T Bank has upheld Provident's commitment to the community in a number of ways, including its sponsorship of the National Football League's Baltimore Ravens, who play in M&T Bank Stadium.
Former customers of Provident Bank and Provident Direct will find similar products and high quality service with M&T. M&T's offerings include competitive mortgage rates, high yield savings accounts and certificates of deposit (CDs), auto loans, and checking accounts. Consumers can also see how M&T interest rates compare to other lenders on RateZip.
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