A Faster Way to Bank Without Leaving Your Office: Provident Bank Launches Innovative 'Remote Deposit' Service for Business Banking Customers

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Provident Bank has introduced a new product for business banking customers that offers the ultimate convenience and efficiency in check deposit transactions.

We are large enough to provide the technology for a product like this but small enough to offer the personalized service and training that our customers expect from us. As businesses continually look for ways to become more efficient and productive, we are pleased to become part of the solution by launching a product that can add to their success.

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Provident Bank has introduced a new product for business banking customers that offers the ultimate convenience and efficiency in check deposit transactions. Provident's Remote Deposit service allows a business customer to deposit checks electronically at the office by using a personal computer and scanning device. The technology can eliminate the usual trip to the branch that a customer currently makes to deposit checks.

Each check scanned for deposit generates an electronic image (front and back) that is transmitted directly to the bank for processing. In fact, any electronic deposit received before 6:00 p.m. Eastern Time will be processed on that same business day and actually extends the banking day for customers. The benefits from the Remote Deposit service add up to greater productivity, faster crediting of checks, reduced costs and improved accuracy.    

Provident's Senior Vice President for Commercial Services, John Goedeke, called it a product that fits Provident's brand promise as the "right size" bank in Maryland and Virginia. "We are large enough to provide the technology for a product like this but small enough to offer the personalized service and training that our customers expect from us. As businesses continually look for ways to become more efficient and productive, we are pleased to become part of the solution by launching a product that can add to their success."

Additionally, the Remote Deposit service enables all business customers to reduce deposit costs by consolidating regional or nationwide deposits into a single Provident Bank account. The service complements an overall electronic banking and Internet based product line currently offered by Provident. Business customers interested in the Remote Deposit service can contact Provident at 1-866-907-2740.

Provident Bankshares Corporation is the holding company for Provident Bank, the second largest independent commercial bank headquartered in Maryland. With $6.4 billion in assets, Provident serves individuals and businesses in the key urban areas of Baltimore, Washington and Richmond through a network of 153 offices in Maryland, Virginia, and southern York County, PA. Provident Bank also offers related financial services through wholly owned subsidiaries. Securities brokerage, investment management and related insurance services are available through Provident Investment Center and leases through Court Square Leasing and Provident Lease Corp. Visit Provident on the web at http://www.provbank.com.

Contact:

Vicki Cox

Corporate Communications

410-277-2063

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