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Subsequent Events
 3 Months Ended
Dec. 31, 2011
Subsequent Events  
Subsequent Events

Note 11: Subsequent Events

 

1.  

On January 12, 2012, the Corporation announced that the Bank has signed a lease agreement with the intention of opening a new full-service branch office in La Quinta, California.  The full-service branch will become the Bank’s 15th and is slated to open in the early summer of 2012 subject to customary contingencies, contractual requirements and regulatory approvals.

 

2.  

On January 24, 2012, the Corporation announced a cash dividend of $0.04 per share, an increase of $0.01 per share as compared to the previous cash dividend.  Shareholders of the Corporation’s common stock at the close of business on February 15, 2012 will be entitled to receive the cash dividend, payable on March 9, 2012.

 

3.  

On February 1, 2012, the Corporation announced that the Bank has hired a retail mortgage banking group who operate from locations in Roseville, San Rafael and Fairfield, California.  The Bank will open Provident Bank Mortgage retail loan production offices in each of these cities which will house a total of 40 mortgage banking employees.  The group is comprised of 26 retail production staff and 14 support staff.  They bring established retail mortgage banking relationships and are expected to contribute immediately.