Bailout Bank Bio: Provident Bankshares Corporation

Mar 24, 2009 | 2 min read | Print Article

Provident Bankshares Corporation is the bank holding company for Provident Bank. The Bank serves individuals and businesses through a network of banking offices and automated teller machines (ATMs) in Maryland, Virginia, and southern York County, Pennsylvania. As of December 31, 2007, the banking office network consisted of 80 traditional banking office locations and 63 in-store banking offices. The network of 63 in-store banking offices is located in a range of supermarkets and national retail superstores. The company’s headquarters are in Baltimore, Maryland.

In November Provident began participating in the Treasury Department’s Capital Purchase Program. Under the program Provident received $151.5 million from Treasury in exchange for preferred stock and warrants. The bank has been discussing a merger with Buffalo, N.Y. based M&T Bank.

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Bailout Bank Bio: Provident Bankshares Corporation


Federal Equity Investment	$151 million
Total Revenue	$502.82 million
Net Income	$32.13 million
Number of Employees	1,635
Corporate Headquarters	Baltimore, Maryland
Business Sector	Bank
Officers and Directors	Geisel, Gary, Chairman of the Board, Chief Executive Officer Other Officers and Directors
Corporate Website	http://web.provbank.com/
Executive Compensation	Provident Bankshares Corporation