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Provident Bank has made yet another bold move to bolster its business after shareholders rejected a shareholder proposal to sell the company last month.
Provident (www.provbank.com), which has $5.2 billion in assets, hired Robert H. "Hugh" Newton Jr. as managing director of commercial banking. Newton held a similar position with Chevy Chase Bank (www.chevychasebank.com) as senior vice president of business banking in Baltimore.
The move is just the latest in a series of high-profile announcements by the bank: On May 4, the bank bought Baltimore-based Harbor Federal Bancorp Inc.. On May 9, the company announced that it is selling off its Fast 'n' Friendly …