PROVIDENT BANK’S JOSEPH J. CALABRESE, III PROMOTED TO SENIOR VICE PRESIDENT

Baltimore, July 26, 2004 — Provident Bank announces the promotion of Joseph J. Calabrese to Senior Vice President of its Northern Virginia (NOVA) Unit of the Washington Metro Commercial Banking Group.

With more than 35 years of commercial banking and industry experience, Calabrese will be responsible for business development and administrative management of the NOVA unit, while continuing to develop profitable commercial relationships and specializing in the finance of federal contractors. He has extensive experience in the areas of lending, cash management and online software products.

Prior to joining Provident in March 2002, Calabrese was a Senior Vice President at Cardinal Bank, N.A. in Reston, Virginia and previously a Vice President in the Commercial Division of First Virginia Bank in Falls Church, Virginia.

He holds a certificate in Advanced Banking Studies from the Graduate School of Banking at Louisiana State University and Advanced Commercial Lending from the Graduate School of Business at the University of Virginia. He also graduated with a Bachelor of Business Administration degree from George Mason University. Currently he serves on the Special Gifts Committee at Catholic Charities and the Audit Committee of the Catholic Diocese of Arlington. He is also a past Board Member, Treasurer, Chair of the Budget and Finance Committee and the Audit Committee, as well as a member of the Investment Committee for the National Capital Chapter of the American Red Cross. He continues to be an active member of the Fairfax County Chamber of Commerce and the Northern Virginia Technology Council.