Provident Opens New Branch In Newark; Feds Seek To End Consent Order

NEWARK, NJ — Provident Bank recently opened its fourth branch in Newark and donated $2,500 to three local nonprofits during a ribbon cutting ceremony.

Last week, Provident Bank announced the opening of its new branch on the ground floor of the Ironside Newark building at 110 Edison Place (between the Prudential Center and train station). The site also includes an ATM.

“We are excited to announce the newest branch in the City of Newark,” said Vito Giannola, executive vice president and chief banking officer at Provident Bank.

“With this new office, we will be focused on providing the Newark community with a convenient in-person experience and access to experienced, knowledgeable bankers who will assist local residents with their banking and lending needs,” Giannola said.

As part of a ribbon cutting event, the company donated $2,500 each to Habitat for Humanity of Greater Newark, St. John’s Soup Kitchen, and Greater Life.

“Beyond banking, we are proud to directly invest in Newark's future by donating to three impactful local charities, strengthening vital community programs,” community development officer Roxanne Camejo said.

CONSENT ORDER

The U.S. Department of Justice recently filed court papers in an attempt to end a federal settlement with Lakeland Bank, which recently merged with Provident.

Nearly three years ago, the U.S. Department of Justice announced that it reached an agreement with Lakeland Bank involving one of the largest “redlining” settlements in the history of the U.S. Department of Justice.

The housing discrimination allegedly took place in Black and Hispanic neighborhoods of the Newark area.

Lakeland Bank agreed to several conditions as part of the consent order, including investing at least $12 million in a loan subsidy fund for residents of Black and Hispanic neighborhoods in the Newark area, and opening new branches in “neighborhoods of color.”

The North Jersey-based business has since merged with Provident Bank in a $1.3 billion deal.

Last week, federal prosecutors asked a judge to end the government oversight nearly two years early. If granted, the move would nix the consent order negotiated under the administration of former President Joe Biden.

>> Read More: Feds Seek To Squash Biden-Era ‘Redlining’ Settlement In Newark Area

In their motion, the Justice Department claimed that Lakeland Bank has “demonstrated a commitment to remediation” and “reached substantial compliance” involving the terms of the consent order.

Some advocates and elected officials remain leery, however.

Newark Mayor Ras Baraka said that redlining has been used as a weapon for racist discrimination in the past – and it continues to be a problem.

“I condemn this act as a betrayal of the people who were harmed, and of decency itself,” the mayor said, calling on the Justice Department to let the consent order play out.

A spokesperson with Provident Bank gave Patch the following statement when asked to comment on the Justice Department’s recent court motion:

“On May 30, 2025, the United States Department of Justice (DOJ) filed a motion with the United States District Court for New Jersey (Court) seeking dismissal of the 2022 Consent Order between the DOJ and Lakeland Bank (now Provident Bank). In its motion, the DOJ advises the Court that Provident Bank has demonstrated a commitment to remediation and has reached substantial compliance with the monetary and injunctive terms of the Consent Order. As part of its motion, the DOJ further states that Provident has committed to continuing its disbursement of the mortgage loan subsidy fund and to provide the United States confirmation of that disbursement upon completion. Provident acknowledges the benefit of the mortgage loan subsidy to underserved communities and, in the event the DOJ’s motion is granted, will commit to spending the remaining amount under the subsidy.”

“Furthermore, we are not a party to this litigation,” the statement added, referring further questions to the Justice Department.

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