Urban Partnership Bank to Combine Operations with Providence Bank & Trust

Urban Partnership Bank-Providence Bank & Trust Acquisition Announcement

 

 CUSTOMER/INFLUENCER FAQs


Urban Partnership Bank and Providence Bank & Trust have announced that we have reached an agreement for Providence Bank & Trust to acquire Urban Partnership Bank and plan to combine operations.

Urban Partnership Bank has invested a significant amount of time in selecting the right partner for this agreement to expand our customer service and product offerings.

As you know, Urban Partnership Bank has worked diligently for the past eight years to serve our community. Since Urban Partnership Bank was founded, our impact has been significant. We have restructured more than $1 billion in loans and originated more than $475 million since our inception. This has resulted in creating more than 6,000 jobs and supported the building of 6,385 housing units, with 68% defined as affordable housing. Without you, we would not have been able to accomplish all that we have.

The investment made by Providence Bank & Trust not only demonstrates its commitment to growing our network, but it also reflects the growing economic vibrancy of the areas in which we serve.

We understand you might have questions about this acquisition. We are in the process of coordinating with Providence Bank & Trust to make this transition as seamless as possible. In the meantime, please take note of the following:

  • There will be no impact on loans currently being processed.
  • At this time, account numbers and routing numbers will stay the same.
  • Your transfers and direct deposits will continue without interruption.
  • You should continue to use your Urban Partnership Bank Visa ® Debit Card and checks. All surcharge-free ATMs will continue to be accessible at this time.

Through this new relationship, we will be able to offer new services, such as residential lending, wealth and trust services and commercial equipment leasing, as well an improved online banking platform and increased lending options for both individual and commercial customers.

We know you will have many questions, and our staff is available to answer them and continue to serve you. For more information, please refer to our FAQ section below, call us at 800.905.7725, or contact your branch manager for more details.

 


 

Customer/Influencer FAQ

I’ve been banking with Urban Partnership Bank for a number of years. Will my account number and services change?

At this time, your account numbers and routing number will remain the same.

  • Your transfers and direct deposits will continue without interruption.
  • You should continue to use your Urban Partnership Bank Visa ® Debit Card and checks.

Urban Partnership Bank’s commitment is to ensure the integration with Providence Bank & Trust will only enhance your banking experience. Urban Partnership Bank will communicate regularly as the integration is underway and you will be notified well in advance of any change that occurs.

Will I still have access to the same surcharge-free ATMs?

All surcharge-free ATMs will continue to be accessible at this time. More information about surcharge-free ATM networks will be available as the merger is finalized in early 2019.

What does this acquisition mean for my pending loan?

There will be no impact on loans currently processed.

Will the name of my bank change?

Yes. In early 2019, the name of your bank change to Providence Bank & Trust.

What are the benefits of this relationship to Urban Partnership Bank customers?

Urban Partnership Bank decided to combine operations with Providence Bank & Trust for its strong commitment to customer service and its willingness to put customers first. You will experience many benefits, including continued investment in the community, expanded services such as a larger branch network, a well-capitalized institution, residential lending, commercial leasing, and trust and wealth services. Urban Partnership Bank is confident that your expectations will not only be met, but exceeded.

Why did Urban Partnership Bank seek this acquisition?

In this agreement, Urban Partnership Bank recognized a tremendous opportunity to build upon its accomplishments and ensure that it could continue to fulfill its mission and serve customers at an even higher level, including expanded online banking and increased lending options. Combining operations with Providence Bank & Trust will ensure that our customers’ and partners’ needs are not only met but exceeded.

What makes Providence Bank & Trust the best bank to partner with? Why should I bank with them?

Providence Bank & Trust is committed to continuing Urban Partnership Bank’s mission to serve customers, building vibrant neighborhoods, promoting economic and environmental sustainability, and creating long-term success for the communities in which it operates. Additionally, this agreement will enhance the services that our customers receive, including a larger, stronger banking network with increased access to an array of enhanced services, including: access to new banking services, an improved online banking platform, and broader lending for commercial customers and small businesses.

This acquisition will enhance the services that customers receive, including a larger, stronger banking network with access to new banking services, an improved online banking platform, and broader lending for commercial and small business customers. Additionally, Providence Bank & Trust has been a rapidly growing, stewardship-based bank. Founded in South Holland, Illinois—and now with $630 million in assets and 12 locations serving Cicero, Frankfort, Oak Lawn, Orland Park, Palos Heights, Shorewood, South Holland, Villa Park and Wheaton in Illinois, as well as Dyer/St. John, Munster and Schererville in Indiana—Providence Bank & Trust serves its customers as an involved community bank. Providence Bank & Trust is committed to improving lives and services in the communities it serves.

How does Providence Bank & Trust handle customer service issues? Will there be fast response times for customers?

Providence Bank & Trust prides itself on high-quality customer service and is committed to ensuring that issues are handled properly and efficiently.

The private investment in this new financial institution demonstrates commitment to restoring the economic vitality of our communities.

- David Vitale
Chairman, Urban Partnership Bank