the staff of the Ridgewood blog
Wyckoff NJ, in a significant development for local banking, a Wyckoff bank, along with three other branches in Bergen County, will be closing as part of a merger between Provident Bank and Lakeland Bank. This consolidation, announced by Lakeland Bank this week, is set to commence on Thursday, August 29.
Details of the Merger
Lakeland Bank, headquartered in West Milford, revealed that the merger will result in the closure of 22 branches where there is significant overlap between the two banks’ networks. According to the announcement, either a Provident or a Lakeland branch will be closed in areas where a single location can sufficiently serve all customers.
“While our Provident and Lakeland branch networks are largely complementary, there are twenty-two locations where overlap exists due to their close proximity to another branch,” Lakeland stated. “A careful and thorough review of our combined branch network was undertaken, and we have decided to close either a Provident branch or a Lakeland branch in cases where a single location can serve all of our customers. Consolidations will begin Thursday, August 29, 2024.”
Customer Notification and Future Banking Options
Customers of the affected branches have been notified of the upcoming changes. As of Tuesday, September 3, 2024, they will have the option to bank at any of Provident’s 140 branches across the newly expanded network. Additionally, they can utilize the ProvidentConnect Online Banking and Mobile Banking platforms for their banking needs.
Branches Set to Close
The four Bergen County branches slated for closure are:
- 180 Main St., Fort Lee
- 25 Main St., Hackensack
- 464 Cedar Lane, Teaneck
- 345 Franklin Ave., Wyckoff
Impact on the Community
This merger and the subsequent branch closures are part of a broader strategy to streamline operations and improve service efficiency. While some customers might experience inconvenience due to the closure of their local branches, the expanded network and enhanced digital banking options are expected to offer greater flexibility and convenience in the long run.
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