Welcome to Provident Bank!

Personal
Banking
Welcome to Provident Bank!
We’re teaming up to offer you more.
Count on great personal service,
important new opportunities, and
an expanded team by your side.
When your Team Capital Bank branches become Provident Bank
branches on Tuesday, September 2, 2014, the signs will change but
the friendly service inside will feel reassuringly familiar. That’s because
banking at Provident is all about relationships, just like it is at Team
Capital. As we work together to bring you all the strengths of our
combined team, we’ll also preserve the relationships you value, along
with other key advantages, such as local loan decisions, that have made
Team Capital such a great place to bank.
In this booklet, you’ll learn about all the steps we’re taking to make
your transition a smooth one. And you’ll see some exciting new
possibilities, too! Like new checking opportunities with innovative ways
to reward you for banking with us, plus expanded online capabilities.
We’ll also provide new wealth management services to help you enhance
and preserve your assets.
But most important of all, you’ll still be a customer of a local community
bank that makes personal service a top priority – just as Provident has
been doing for 175 years. Except now, you’ll find more convenience,
more choices, and more room to grow. We appreciate this opportunity
to serve you, and we’ll work our hardest to make you a satisfied
customer of Provident Bank.
Checking Accounts
4
Money Market, Savings,
CDs and IRAs
10
Investing and Wealth
Management Services
14
Mortgage and
Home Equity Loans
16
Banking Convenience
– Online and Mobile
– Telephone
– Branches
18
Transition notes
¬¬ Your Team Capital Bank deposit and loan
accounts will transition to Provident on
Tuesday, September 2, 2014.
¬¬ While we make the transition to
Provident, Team Capital branches
will close at 3:00 p.m. on Friday,
August 29, 2014 and remain closed
throughout Labor Day weekend. They
will reopen as Provident branches
on Tuesday, September 2, 2014 with
the same hours of operation.
¬¬ Also beginning September 2nd, you can
use any branch of Provident’s network.
(See page 19 for details.)
¬¬ Your account number(s) will remain
unchanged, and you can continue to use
the same checks and banking materials
that you currently have, unless we’ve
notified you otherwise.
¬¬ If you have accounts at both banks, please
see the important information on page 2
of the enclosed Disclosure Handbook for
Personal and Business Deposit Accounts
regarding FDIC deposit insurance
coverage, and visit your local branch if
you have questions.
Except as noted, account terms and
conditions described in this booklet and
the Disclosure Handbook take effect on
September 2, 2014.
3
CHECKING ACCOUNTS
We’ll automatically switch you to a checking account
that fits your needs, or help you find an even better one.
To simplify the transition, each of your Team Capital checking accounts will
automatically become the Provident checking account that we believe is most
suitable for you. (See the reverse side of the enclosed letter for details.)
But we want you to have the checking account you prefer. So please take
a moment to review the features of your new account as described on the
next few pages, and compare your account with other Provident checking
alternatives. (See page 6 for an overview.)
If you prefer a different account, simply complete and return the Checking
Account Preference Form at the bottom of the enclosed letter, or visit your
local Team Capital branch, and we’ll make sure you get the checking account
you like best at Provident.
4
Transition notes
Transactions
¬¬ Continue to use your existing
checks and account number (unless
we’ve notified you otherwise). We’ll
send you new Provident-branded
checks with your next check order.
¬¬ Direct deposits and automatic
transfers will continue without
interruption.
¬¬ You’ll receive a new Provident
Debit MasterCard® to replace
your current debit card. Be sure
to reauthorize any automatic
payments by providing your new
card number and expiration date to
your payees.
¬¬ To give you plenty of time to adjust
your account choices or banking
habits, no ATM fees or account
qualification requirements will
apply during your first four $mart,
Ca$h Back or MyTunes Checking
statement periods.
Statements
¬¬ A final account statement from
Team Capital will be produced as
of the close of business on Friday,
August 29, 2014. Monthly service
fees, if any, will not be charged
unless you normally receive monthend statements. Look for Provident
statements to begin in September.
Multiple accounts will be combined
on statements as they are now.
¬¬ Going forward, check images
from your previous Team Capital
electronic statements will be
available at Provident upon request.
¬¬ To avoid potential fees for
paper statements, be sure to
enroll in eStatements through
ProvidentConnect Online Banking.
Interest
¬¬ Several Provident checking
accounts feature tiered interest
rates. Call our Customer Contact
Center at 800.448.PROV (7768) for
current tiers and APYs.
¬¬ Interest on interest-bearing
checking accounts is compounded
daily, credited on the last business
day of the statement period, and
available the first business day of
the next statement period. All rates
are variable and may change at any
time at our discretion.
¬¬ For non-cash deposits, interest
begins to accrue on the day of
deposit or next business day.
Related Services
¬¬ If you currently have overdraft
protection on your checking
account by means of a line of credit,
automatic transfer or Overdraft
Privilege, that service will continue
without change.
¬¬ Note that you will begin to receive
separate statements for your
Overdraft Line of Credit.
¬¬ Receive a 0.25% rate reduction on
new fixed-rate home equity and auto
loans (excluding passbook loans,
overdraft checking and home equity
lines of credit) when the payments
are automatically deducted from
your Provident checking account.
5
NEW CHECKING CHOICES
It’s easy to find a checking account
that rewards you for banking at Provident.
When it comes to financial needs and preferences, no two people are alike.
That’s why we’re pleased to offer you an innovative checking account lineup
where you get to choose the rewards you want.
Provident Free $mart
CheckingSM: If you thought free
checking was a great idea, you’re
going to love Provident Free $mart
Checking. We pumped it up with
great rates, domestic ATM fee
refunds, lots of rewards and kept it
all FREE when simple qualification
requirements are met.
Provident Free Ca$h Back
Checking: Free checking that pays
you back. Just meet some simple
qualification requirements to earn
cash back on the total amount of
your eligible signature-based pointof-sale transactions, with no limits
on the amount of cash you can earn.
Domestic ATM fee refunds too!
Provident MyTunes Checking:
Free checking that rewards you
with music, apps, books, movies
and more. Just meet some simple
qualification requirements, and
you’ll earn free iTunes® or Amazon®
downloads along with up to $10
in ATM surcharge refunds each
qualification period.
6
Provident Platinum CheckingSM:
Let your combined deposit and
loan balances of $10,000 or more
eliminate monthly charges so you
can earn special privileges like
tiered interest on checking, bonus
interest on CDs and no domestic
ATM fees or surcharges.
Provident Basic Checking: If
you write six or fewer checks each
month and want free debit card
access, this simple, dependable free
account may be just what you’re
looking for.
Age 50 Plus Checking: You’ve
reached the stage of life where
you deserve free checking with
unlimited check-writing, discounts
on consumer loans and more.
All Provident personal checking accounts feature:
¬¬ Free ProvidentConnect Online Banking with Bill Payment
¬¬ Free Provident Debit MasterCard
¬¬ Free eStatements
¬¬ Free Mobile Banking with Mobile Check Deposit* ¬¬ Optional auto-transfers from a linked account to help avoid overdrafts
*Mobile data charges may apply.
7
CHECKING ACCOUNT CHANGES
IF YOUR TEAM CAPITAL
ACCOUNT IS…
YOUR NEW PROVIDENT ACCOUNT
WILL BE…
Team Capital Connect Checking
Provident Platinum CheckingSM
Platinum Checking
Provident Free $mart CheckingSM
Interest Checking
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Essential Checking
(Formerly Totally Free Checking)
Provident Free Ca$h Back
Checking
Estate Interest Bearing Checking
Estate Checking with Interest
Estate Non-Interest Bearing Checking
Estate Checking
WITH THESE KEY FEATURES
AND BENEFITS1:
–– Maintain a combined average balance of $10,000 in your linked checking, savings,
CD, IRA, consumer mortgage, home equity, or personal loan to avoid a $25
monthly maintenance fee in this relationship account
–– All domestic ATM fees waived
–– Tiered interest rates on balances of $50 or more, with higher rates for higher
balances
–– Earn 0.25% bonus rate on CDs and IRA CDs
–– Earn 1.51%2 APY and receive domestic ATM refunds3 when you meet the following
account qualification requirements4 during a statement period:
·· Conduct ten (10) signature-based point-of-sale purchases with your Provident
Debit MasterCard
·· Have one (1) direct deposit or one (1) automatic debit posted to your account
·· Establish and maintain a FREE ProvidentConnect Online Banking relationship
·· Elect to receive your periodic account statement electronically via
ProvidentConnect Online Banking5
–– No monthly service fees or minimum balance requirements
–– Earn unlimited cash back on your eligible Provident Debit MasterCard purchases
and receive domestic ATM refunds3 when you meet the following account
qualification requirements4 during a statement period:
·· Conduct ten (10) signature-based point-of-sale purchases with your Provident
Debit MasterCard
·· Have one (1) direct deposit or one (1) automatic debit posted to your account
·· Establish and maintain a FREE ProvidentConnect Online Banking relationship
·· Elect to receive your periodic account statement electronically via
ProvidentConnect Online Banking5
–– No monthly service fees or minimum balance requirements
–– Maintain a minimum balance of $1,000 to avoid a $10 monthly minimum balance
penalty fee
–– No monthly service fees or minimum balance requirements
9
MONEY MARKET, SAVINGS,
CDs AND IRAs
Provident offers great opportunities to help your money grow with
the safety and peace of mind of FDIC insurance.
Whether you’re looking for access, consistent returns or higher yields for
higher balances, you’ll find a range of solutions at Provident.
Provident Platinum MoneyManagerSM
Available to Provident Platinum Checking account customers, Provident’s
Platinum MoneyManager account is a great incentive to save, because it
features our best rates in four separate balance tiers to reward your growing
balances. Shift your idle balances to this account whenever you want, and
maximize your earnings.
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Savings
Competitive rates, easy transfers to and from checking, plus the convenience of
a monthly statement. Ask about our Holiday Club and Young Savers accounts.
Make Provident savings accounts the cornerstone of your savings plan.
Certificates of Deposit
Lock in competitive rates, with select terms from 91 days to 5 years.
Individual Retirement Accounts
In addition to Traditional, Roth and Rollover IRAs, you will also find
sophisticated IRA investment solutions available through Provident.
(See page 14 for details.)
Transition notes
¬¬ You’ll keep your current account
numbers (unless we’ve notified
you otherwise), and your direct
deposits and automatic transfers
will continue without interruption.
¬¬ Interest on money market and
savings accounts is compounded
daily, credited on the last
business day of the statement
period, and available the first
business day of the following
statement period.
¬¬ Several Provident money market/
savings accounts feature tiered
interest rates. Call our Customer
Contact Center at 800.448.PROV
(7768) for current tiers and APYs.
¬¬ All rates are variable and may
change at any time at our
discretion.
¬¬ For non-cash deposits, interest
begins to accrue on the day of
deposit or next business day.
¬¬ Overdraft protection from savings
accounts will continue and there
will be a transfer fee of $5 per
transfer. The savings account
remains subject to transaction
limitations. Note: Transfer fees
and transaction limitations do not
apply to the Provident Platinum
MoneyManager account.
11
MONEY MARKET, SAVINGS AND CD/IRA CHANGES
IF YOUR
TEAM CAPITAL ACCOUNT IS…
YOUR NEW
PROVIDENT ACCOUNT WILL BE…
Personal Money Market
Money Market
Estate Money Market
Premier Money Market
Team Capital Connect
Money Market
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Provident Platinum
MoneyManagerSM
Statement Savings
Statement Savings
CDs and IRA CDs
CDs and IRA CDs
IRA Statement Savings
IRA Statement Savings
WITH THESE KEY FEATURES
AND BENEFITS1:
–– Maintain a minimum balance of $1,000 to avoid a $10 monthly minimum balance
penalty fee
–– Earn higher interest on higher balances with this tiered rate account
–– An excess transaction fee of $15 will be charged when preauthorized transactions
exceed six per statement period
–– Write up to three checks per monthly statement period; minimum check amount
is $500; an excess check fee of $10 (per check) will be charged when more than
three checks are issued in a statement period
–– Earn tiered interest when average daily balance is $5,000 or more, with higher
rates for higher balances; rates/APYs are not based on any established rate index
–– A Platinum Checking account is required to be eligible for this account; however,
converted Team Capital Premier Money Market and Connect Money Market
accounts are not required to maintain a linked Provident Platinum Checking account
–– All domestic ATM fees waived if balance requirement is met
–– Unlimited balance transfers to checking to cover checking overdrafts
–– Maintain a minimum balance of $250 to avoid a $3 monthly minimum balance
penalty fee
–– Earn interest on balances of $50 or more
–– An excess transaction fee of $15 will be charged when preauthorized transactions
exceed six per statement period
–– No change to the rate, term or maturity date of your CDs and IRA CDs
–– At the first renewal on or after September 2, 2014, your CD will automatically
renew at the same or closest available term offered (note that Team Capital
48-month CDs will become 36-month CDs at maturity)
–– IRA Statement Savings accounts receive an annual statement, or a monthly
statement when combined with a checking or savings account statement
13
INVESTING AND
WEALTH MANAGEMENT SERVICES
Solutions, services and guidance
to help you make the most of your assets.
Investment Services and Retirement Planning*
You’ll find a full array of investment products and services available to you at
Provident. Experienced Personal Financial Advisors and administrators can
help you with:
¬¬ Tax-Deferred Annuities
¬ Personal Retirement Planning
¬¬ Mutual Funds
¬ Self-Directed IRAs
¬¬ Unit Investment Trusts
¬ Long-Term Care Insurance
¬¬ Brokerage Services
¬ Life Insurance Planning
To learn more about these services, contact an Investment Services
representative at 732.778.2212.
* Securities and insurance products are offered through Cetera Investment Services LLC,
member FINRA/SIPC. Advisory services are offered through Cetera Investment Advisers
LLC. Neither firm is affiliated with the financial institution where investment services
are offered. Investments are: • Not FDIC/NCUSIF insured • May lose value • Not financial
institution guaranteed • Not a deposit • Not insured by any federal government agency.
Advisory services may only be offered by Investment Adviser Representatives.
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Wealth Management Services
Beacon Trust, a wholly owned subsidiary of Provident Bank, is a full service
wealth management firm that provides a comprehensive suite of financial
services* designed for flexibility and solid investment performance.
The skilled advisors at Beacon Trust are committed to helping you protect
and expand your assets through every phase of your financial journey. Expect
proactive communication, customized planning and careful attention by a
team of advisors who are on hand to give you the guidance and peace of mind
you deserve. We will also work closely with your attorney, tax advisor or other
investment professional to create an integrated team to serve you.
Trust and Estate Administration:
Whether you recently acquired
wealth or spent a lifetime
accumulating it, we can help you
grow and protect your assets
and ultimately transfer them
to others, according to your
wishes. Rely on our wide-ranging
experience in trust and estate
administration, custodial services,
and charitable giving.
Investment Management and
Financial Planning: Taking into
account your current circumstances
and future aspirations, we can
design a sophisticated investment
plan – based on standard equity
and asset allocation models –
tailored to your risk tolerance
and goals.
Private Banking and Family
Office: Our specialized Private
Banking services can meet your
unique needs. We can assist in your
day-to-day banking at Provident,
and your Beacon Personal Wealth
Advisors can address your shortterm cash flow requirements, as
well as your long-term planning
objectives. Customized credit and
real estate lending opportunities
are also available.
Institutional Services: In helping
companies and municipalities
manage their assets, we use a
customized approach to structure
retirement accounts, profit sharing
plans and other key investment
services to meet changing needs
and economic climates.
To learn more about these services, contact a Beacon Personal Wealth
Advisor at 866.377.8090.
* Securities and Investment Products: NOT FDIC INSURED – MAY GO DOWN IN VALUE –
NOT A DEPOSIT – NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
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MORTGAGE AND
HOME EQUITY LOANS
Buying or Refinancing
As one of the leading mortgage lenders in our region, Provident offers a wide
variety of financing choices – and the expertise to guide you.
You’ll find conventional fixed-rate mortgage loans, a variety of adjustablerate mortgage loans (ARMs) and jumbo mortgage loans, along with special
programs for first-time home buyers and low-to-moderate income borrowers.
We can even pre-approve you, so you have the leverage of knowing what you
can afford before making your offer. Apply online in the comfort of your home
or with one of our mortgage loan specialists at 888.534.8979.
Home Equity Borrowing
Whether you prefer a fixed-rate loan or a variable-rate line of credit, Provident
helps you safely tap the value stored in your home. We also offer special
programs for low-to-moderate income borrowers.
Transition notes
¬¬ Your Team Capital loan or line of credit will transfer to Provident
on September 2, 2014, with no changes to account number, terms
or conditions.
¬¬ Beginning in September you will start receiving monthly loan statements
for your residential mortgage and/or home equity loans, including the
current amount due and detailed transaction activity, along with a coupon
and return envelope to remit your payment. You can request to receive
this statement electronically via ProvidentConnect Online Banking by calling
our Customer Contact Center at 800.448.PROV (7768).
¬¬ After September 2nd, please use this new payment address for mailed
payments: The Provident Bank, P.O. Box 617, Newark, NJ 07101‑0617.
If you are an Online Banking user, you can make payments via
ProvidentConnect Online Banking and Bill Payment services.
16
¬¬ Your automatic loan payment arrangements will continue uninterrupted, and
no action on your part is required. Details of the transfer will appear on your
coupon and your transaction will be credited on the due date.
¬¬ Beginning September 2nd, you can consolidate your loan and deposit account
information by calling our Customer Contact Center at 800.448.PROV (7768)
and requesting to have a summary of your consumer loan appear on your
monthly deposit account statement.
17
BANKING CONVENIENCE
New online and telephone banking opportunities!
Online Banking at ProvidentNJ.com
Online Banking and Bill Pay services through ProvidentConnect are simple,
secure, easy to use, and free. Plus, we have mobile banking and mobile
check deposit to make your banking even more convenient. If you currently
use online banking services at Team Capital, our goal is to make your
transition easy.
24/7 Customer Contact Center: Call 800.448.PROV (7768)
Call any time of the day or night and use our Telephone Banking service to
access your checking, savings, CD and loan accounts. You can check account
balances, confirm deposits and checks paid, transfer funds, and much
more. The first time you call after September 2nd, you’ll select a 4-digit PIN.
Then, this PIN and your Social Security Number will give you secure access
to your account information, day or night. If you need personal assistance,
representatives are available to help you Monday through Friday, 8 a.m. to
7 p.m. and Saturday, 9 a.m. to 2 p.m.
Transition notes
¬¬ Your current online banking
payees will be transferred to
Provident automatically – no need
to re-enter this information.
¬¬ Any recurring payments you have
arranged online will continue
without interruption.
¬¬ Note that online services will
be unavailable over Labor
Day weekend as we make the
transition to Provident.
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¬¬ We will send you a separate letter
with all the details you’ll need to
know about the transition of your
online services.
¬¬ External transfers conducted
using ProvidentConnect Online
Banking have a daily limit of
$2,000 from each of your
accounts. This daily limit is
applicable to transfers from any
of your converted accounts to
an account at another financial
institution conducted Monday
through Friday. Any transfers
requested on Saturday, Sunday
or a Federal holiday will be added
to transfer requests made on
the following business day. Note:
This transaction limitation does
not affect transfers to or between
your Provident accounts.
Susquehanna
Wayne
ming
●
Lackawanna
●
Pike
Sussex
erne
Monroe
Passaic
Team Capital Bank
Provident Bank
Bergen
Warren
Carbon
More Branches and ATMs
Morris
Northhampton
Union
Lehigh
Berks
Hunterdon
PA
Bucks
Middlesex
Mercer
Montgomery
Philadelphia
Chester
Burlington
Delaware
Gloucester
Hudson
Essex
Somerset
NJ
Camden
Salem
Atlantic
Cumberland
Monmouth
Ocean
Your branch network will grow
from 11 to 87 locations, including
dozens of branches in central
and northern New Jersey.
Beginning September 2, 2014,
you will be able to use any
of these branches and ATMs
for all transactions, so you’ll
enjoy convenient new banking
opportunities close to where you
live, work or travel in our region.
Cape May
Thanks for giving us this opportunity
to serve you.
As you can see, Provident has a lot to offer, and we can’t wait to start adding new
strengths to your expanded team.
If you have questions about anything you’ve read, or if you would like more
information, please call or visit your local branch office. You can also call the
Provident Customer Contact Center at 800.448.PROV (7768), Monday through
Friday, 8 a.m. to 7 p.m., and Saturday, 9 a.m. to 2 p.m. Or to learn more, visit our
website at ProvidentNJ.com.
We appreciate your business, and we look forward to bringing you a smooth
transition to the new banking opportunities you’ll find at Provident Bank.
19
For a complete summary of account features and possible fees associated with Provident
personal accounts, see the appropriate Accounts and Service Fees section in the enclosed
Disclosure Handbook.
2
An interest rate of 1.50% with an Annual Percentage Yield of 1.51% will be paid only for that
portion of your daily balance that is $15,000 or less. An interest rate of 0.50% with an APY
ranging from 1.11% to 1.51% will be paid only for that portion of your daily balance that is
more than $15,000, but less than $25,000. An interest rate of 0.15% with an APY ranging
from 0.15% to 1.11% will be paid only for that portion of your daily balance that is greater
than $25,000. Should the actual daily balance of your account be more than $15,000, the
actual APY earned will be the average of each applicable balance tier. APYs are variable and
may change at our discretion any time after conversion.
3
Domestic ATM fees will be waived for the first four statement periods after conversion,
even if account qualification requirements are not met. Thereafter, account qualification
requirements must be met in order to receive ATM fee refunds and to earn the APYs
disclosed.
4
Qualification requirements will be waived for the first four statement periods on converted
accounts.
5
Monthly paper statement fee will be waived for the first four statement periods after
conversion. Thereafter, if you have not elected to receive your periodic statements
electronically, a $2 fee per statement will be assessed.
1
Equal Opportunity Lender
Equal Housing Lender
Member FDIC
© 2014 The Provident Bank
PRO220-BRO-PER