Community banking

Provident in California Hires Dozens of Ex-MetLife Staffers

By Jackie Stewart February 02, 2012, 2:40 p.m. EST 1 Min Read

Provident Financial Holdings Inc. in Riverside, Calif., has hired 40 people from MetLife Inc. to run three new retail mortgage loan production offices in Northern California.

Many of the new hires started on Wednesday and the $1.3 billion-asset company hopes to have the new offices in Roseville, San Rafael and Fairfield, Calif., opened by March 1, Craig G. Blunden, Provident’s chairman and chief executive, said Thursday. The new employees include 26 retail production staffers and 14 support staffers.

Provident currently has a dozen mortgage retail offices throughout California. The company’s mortgage banking division has been operating in Northern California for the last six years, Blunden said in a news release on Wednesday.

MetLife announced in January that it had shut down its mortgage origination business and let go most of its 4,300 workers after the insurance giant could not find a buyer for the unit.

Executive Editor, American Banker Magazine

mailto

For reprint and licensing requests for this article, click here.

Community banking

Consumer banking

MORE FROM AMERICAN BANKER

Economy

The economy is looking good for banks in 2025 — but watch out for 2026

Economists say the U.S. economy is leaving 2024 healthy, with unemployment low, inflation manageable and growth robust. Unknown variables — including the depth and scope of President-elect Donald Trump's immigration and tariff policies — could change that course, but likely not until 2026.

By John Heltman

2h ago
M&A

Banner year for CU-bank tie-ups extends with deal in Maryland

Hanscom Federal Credit Union in Massachusetts said it would acquire Peoples Bancorp and its insurance agency. It marked the 21st deal of the year involving a credit union buying a bank.

By Jim Dobbs

December 20
OCC

OCC highlights growing pressures in 'sound' banking system

The OCC's 2024 annual report said that while the federal banking system remains stable, it faces challenges such as rising credit costs, declining net income and increasing nonperforming loans.

By Ebrima Santos Sanneh

December 20
Industry News

BNY expands employee benefits, boosts minimum wage to $25 per hour

BNY announced expanded employee benefits and a boost in its minimum wage for all U.S.-based employees; Synovus has added former FIS executive Greg Montana to its executive board; National Bank Holdings sold off a fifth of its securities portfolio; and more in this week's banking news roundup.

By Editorial Staff

December 20
Payments

Technology, fees and a mega-merger: top payments news of 2024

The Capital One-Discover merger, the war against Visa and Mastercards' swipe fees and budding payment technologies were most popular with American Banker readers in 2024.

By Editorial Staff

December 20
Social media

Banks fleeing X may soon turn to Bluesky

Financial institutions that build a presence on the social media platform could gain a first-mover advantage and a communications channel with potential customers, experts say.

By Keith Button

December 20