Provident Bankshares Announces Its Inclusion in the New NASDAQ Global Select Market

Search Blogs that Mention this News Release

Click this link to view linked Bookmarking Services

Click this link to view linked Blogging Services

Provident Bankshares Announces Its Inclusion in the New NASDAQ Global Select Market

   - The Market with the Highest Initial Listing Standards in the World -

    BALTIMORE, July 5 /PRNewswire-FirstCall/ -- Provident Bankshares
Corporation (Nasdaq: PBKS), the parent company of Provident Bank, today
announced that it is included in the new NASDAQ Global Select Market. The
NASDAQ Global Select Market has the highest initial listing standards of
any exchange in the world based on financial and liquidity requirements.
Prior to the change, the company had been listed on the NASDAQ National
Market.
    "Our selection for the NASDAQ Global Select Market is recognition of
Provident's ability to provide superior market quality based upon our
liquidity, earnings and sound governance. We are very pleased to be a part
of this select group of companies," said Gary Geisel, Chairman and Chief
Executive Officer of Provident Bankshares.
    Beginning July 3, NASDAQ-listed companies have been classified under
three listing tiers - NASDAQ Global Select Market, NASDAQ Global Market,
and NASDAQ Capital Market. NASDAQ also plans to launch indexes based on
these new tiers.
    "Provident Bankshares is an example of an industry leader that has
achieved superior listing standards, which clearly defines the essence of
the NASDAQ Global Select Market," said Bruce Aust, Executive Vice
President, Corporate Client Group.
    NASDAQ announced the new three-tier listing classification in February
2006. All three market tiers will maintain rigorous listing and corporate
governance standards. For additional information about the NASDAQ Global
Select Market, please go to: http://www.nasdaq.com/GlobalSelect.
    About Provident Bankshares Corporation
    Provident Bankshares Corporation is the holding company for Provident
Bank, the second largest independent commercial bank headquartered in
Maryland. With $6.4 billion in assets, Provident serves individuals and
businesses in the key areas of Greater Baltimore, Greater Washington and
Central Virginia through a network of 154 offices in Maryland, Virginia and
southern York County, Pennsylvania. Provident Bank also offers related
financial services through wholly owned subsidiaries. Securities brokerage,
investment management and related insurance services are available through
Provident Investment Center and leases through Court Square Leasing and
Provident Lease Corp. Visit Provident on the web at
http://www.provbank.com.
    About NASDAQ
    NASDAQ is the largest U.S. electronic stock market. With approximately
3,200 companies, it lists more companies and, on average, trades more
shares per day than any other U.S. market. It is home to companies that are
leaders across all areas of business including technology, retail,
communications, financial services, transportation, media and
biotechnology. NASDAQ is the primary market for trading NASDAQ-listed
stocks. For more information about NASDAQ, visit http://www.nasdaq.com or
the NASDAQ Newsroom at http://www.nasdaq.com/newsroom/.

SOURCE Provident Bankshares Corporation

http://www.provbank.com

http://www.nasdaq.com/GlobalSelect

http://www.prnewswire.com/comp/721938.html /
CONTACT:
Media: Lillian Kilroy, +1-410-277-2833; or
Investment Community: Melissa P. Kelly, +1-410-277-2080, both of
Provident Bankshares Corporation