Provident Savings Bank Has Strong Quarter

Provident Savings Bank, based in Riverside, posted a net income of $2.4 million during its most recent quarter, a two-percent jump from the prior year’s same period. The chain has 15 retail banking and business offices in the Inland Empire.

Despite the uptick, Provident’s chairman said he was unhappy with the overall financial results, which took a hit due to mortgage-banking shortfalls.

This could change, though, because of Provident’s new focus on commercial real estate and multifamily loans. That push will last at least through the end of the year.