Core Insights - Provident Financial Services (PFS) has shown strong performance over the past year, with a share price increase of approximately 24% [1] - The regional bank is benefiting from previous mergers and acquisitions (M&A), realizing targeted synergies [1] - Loan growth is improving, contributing positively to the bank's overall performance [1] Company Performance - PFS has gained about 24% in share value over the last year, indicating strong market performance [1] - The bank is experiencing enhanced benefits from past M&A activities, which are leading to the realization of synergies [1] - There is a noted improvement in loan growth, which is a positive indicator for the bank's future prospects [1]

Dallas, Texas--(Newsfile Corp. - January 29, 2026) - Provident Financial Services Inc (NYSE: PFS): Provident Financial Services delivered another strong quarter of expanding profitability and continued operating momentum. Net income increased to $83.4M, for an EPS of $0.64, driving a 1.34% ROAA. Revenue reached a third consecutive quarterly record at $225.7M, supported by record net interest income of $197.4M and record noninterest income of $28.3M, reflecting the Company's ability to grow earning assets w ...

Provident Financial Services, Inc. Announces Fourth Quarter and Full Year Earnings, and Annual Meeting Date ISELIN, NJ, January 27, 2026 - Provident Financial Services, Inc. (NYSE:PFS) (the "Company") reported net income of $83.4 million, or $0.64 per basic and diluted share for the three months ended December 31, 2025, compared to $71.7 million, or $0.55 per basic and diluted share, for the three months ended September 30, 2025 and $48.5 million, or $0.37 per basic and diluted share, for the three months e ...

Financial Data and Key Metrics Changes - The company reported net earnings of $83 million or $0.64 per share for the fourth quarter, with an annualized return on average assets of 1.34% and an adjusted return on average tangible common equity of 17.6% [3][10] - Pre-provision net revenue reached a record $111 million, representing an ROA of 1.78%, and revenue increased to a record $226 million, driven by record net interest income of $197 million and non-interest income of $28.3 million [3][10][14] - Average earning assets increased by $307 million or an annualized 5.4%, while the average yield on assets decreased by 10 basis points to 5.66% [11] Business Line Data and Key Metrics Changes - The commercial loan team generated total new loan production of $3.2 billion in 2025, with net commercial loan growth of 5.5% for the year [4] - Non-interest income increased to $28.3 million, with significant contributions from the insurance agency and SBA loan sales [7][8][14] - The average cost of total deposits decreased by four basis points to 2.1%, while total deposits increased by $182 million for the quarter, or an annualized 3.8% [13] Market Data and Key Metrics Changes - The company experienced favorable trends in both commercial and consumer segments, contributing to a 2% annualized growth in average non-interest-bearing deposits [5] - Non-performing assets improved to 0.32%, with a decline of $22 million or 22% [13] - The company maintains a strong position in the CRE market, with a healthy outlook despite some concerns regarding rent-controlled properties in New York [41][42] Company Strategy and Development Direction - The company plans to continue investing in revenue-producing talent across various platforms, including middle market banking, treasury management, and wealth management [8][72] - A core system conversion is scheduled for Labor Day weekend of 2026, aimed at enhancing scalability and digital capabilities [9][84] - The company is focused on organic growth as its primary strategy, with potential for future dividend considerations and stock buybacks [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining growth momentum and improving profitability, with expectations for loans and deposits to grow in the 4%-6% range in 2026 [17] - The competitive landscape for deposits remains challenging, but the company believes it can maintain its market share through effective strategies [35] - Management noted that the CRE market is showing signs of health, with a positive outlook for 2026 [40][41] Other Important Information - The company announced a new share repurchase authorization allowing for the buyback of an additional 2 million shares [8] - The effective tax rate is projected to be approximately 29% for 2026, influenced by tax credit investments [17][22] Q&A Session Summary Question: Inquiry about the effective tax rate and tax credit investments - Management clarified that the $54 million tax credit investments will reduce the effective tax rate in 2026, with benefits spread throughout the year [22][23] Question: Priorities for deploying excess capital - Management indicated that organic growth remains the primary focus, with potential for dividend adjustments and stock buybacks as secondary options [24][25][26] Question: Competition in deposit markets - Management acknowledged heightened competition but emphasized their ability to grow deposits effectively [35] Question: Trends in the CRE market - Management noted a healthier CRE market and expressed no interest in acquiring portfolios from competitors, focusing instead on organic growth [40] Question: Potential for loan yield increases - Management indicated that there is potential for slight improvements in loan yields due to repricing [45] Question: Plans for geographic expansion - Management confirmed interest in expanding into adjacent markets, including Long Island and the Philly suburbs [50] Question: Core systems conversion details - Management provided details on the timeline and expected benefits of the core systems conversion scheduled for 2026 [84]

Financial Data and Key Metrics Changes - The company reported net earnings of $83 million or $0.64 per share for the fourth quarter, with an annualized return on average assets of 1.34% and an adjusted return on average tangible common equity of 17.6% [3][10] - Pre-provision net revenue reached a record $111 million, representing an ROA of 1.78% [3][10] - Revenue increased to a record $226 million, driven by record net interest income of $197 million and non-interest income of $28.3 million [10] Business Line Data and Key Metrics Changes - The commercial loan team generated total new loan production of $3.2 billion in 2025, with net commercial loan growth of 5.5% for the year [4] - Average non-interest-bearing deposits grew by 2% annualized, contributing to the overall growth in core deposits, which increased by $260 million or 6.6% annualized [5] - Non-interest income increased to $28.3 million, with significant contributions from the insurance agency and SBA loan sales [7][8][15] Market Data and Key Metrics Changes - The company experienced a favorable improvement in non-performing assets, which declined to 0.32% of total assets [6][14] - The average cost of total deposits decreased to 2.1%, while the total cost of funds decreased to 2.34% [13] Company Strategy and Development Direction - The company plans to continue investing in revenue-producing talent across various platforms, including middle market banking, treasury management, SBA, wealth management, and insurance [8][9] - A core system conversion is scheduled for the fall of 2026 to enhance scalability and digital capabilities [9][84] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining growth momentum and improving profitability, with expectations for loans and deposits to grow in the 4%-6% range for 2026 [18] - The competitive landscape for deposits remains challenging, but the company is focused on maintaining its core model and capturing market share [36] Other Important Information - The company announced a new share repurchase authorization allowing for the buyback of an additional 2 million shares [8] - The tangible book value per share increased by 3.8% to $15.70, and the tangible common equity ratio rose to 8.48% [17] Q&A Session Summary Question: Inquiry about the effective tax rate and tax credit investments - Management clarified that the effective tax rate is projected to be approximately 29% for 2026, with benefits from tax credit investments realized throughout the year [23][25] Question: Discussion on capital deployment priorities - Management indicated that organic growth remains the primary focus, with potential considerations for dividends and investments in insurance and wealth platforms [26][27] Question: Insights on deposit competition and its impact - Management acknowledged heightened competition for deposits but emphasized their strong performance in core deposits and the ability to capture market share [36] Question: Trends in the commercial real estate (CRE) market - Management noted a healthier CRE market and expressed no interest in acquiring portfolios from competitors, focusing instead on organic growth [40] Question: Potential for loan yields to increase - Management indicated that there is potential for yields to improve as the pipeline yield increases and backflow repricing occurs [45] Question: Plans for geographic expansion - Management expressed interest in expanding into adjacent geographies, including Long Island and the Philadelphia suburbs, while already having teams in those areas [50]

Financial Data and Key Metrics Changes - The company reported net earnings of $83 million or $0.64 per share for Q4 2025, with an annualized return on average assets of 1.34% and an adjusted return on average tangible common equity of 17.6% [3][9] - Pre-provision net revenue reached a record $111 million, representing an ROA of 1.78%, and revenue increased to a record $226 million, driven by record net interest income of $197 million and non-interest income of $28.3 million [3][9][10] - Average earning assets increased by $307 million or an annualized 5.4% compared to the previous quarter, while the average yield on assets decreased by 10 basis points to 5.66% [10][12] Business Line Data and Key Metrics Changes - The commercial loan team generated total new loan production of $3.2 billion in 2025, with net commercial loan growth of 5.5% for the year [4][5] - Non-interest income increased to $28.3 million in Q4, with significant contributions from the insurance agency and SBA loan sales [6][13] - The company successfully resolved $22 million of non-performing loans, resulting in non-performing assets improving to 0.32% [5][12] Market Data and Key Metrics Changes - Average deposits increased by $786 million or an annualized 16.5% compared to the previous quarter, while period-end deposits increased by $182 million or an annualized 3.8% [12] - The deposit market remains competitive, with the company focusing on managing credit risk and generating top-quartile risk-adjusted returns [5][10] Company Strategy and Development Direction - The company plans to continue investing in revenue-producing talent across various platforms, including middle market banking, treasury management, SBA, wealth management, and insurance [7][8] - A core system conversion is scheduled for Labor Day weekend of 2026, aimed at enhancing scalability and digital capabilities [8][88] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining balance sheet growth momentum and anticipates loan payoff activity will normalize compared to 2025 [8] - The company expects loans and deposits to grow in the 4%-6% range for 2026, with a core return on average assets targeted in the 1.20%-1.30% range [16] Other Important Information - The company announced a new share repurchase authorization allowing for the buyback of an additional 2 million shares [7][15] - The effective tax rate is projected to be approximately 29% for 2026, with ongoing exploration of opportunities to purchase additional tax credits [15][16] Q&A Session Summary Question: Inquiry about the effective tax rate and tax credit investments - Management clarified that the $54 million tax credit investments will reduce the effective tax rate in 2026, with benefits spread throughout the year [21][23] Question: Priorities for deployment of excess capital - Management indicated that organic growth remains the primary objective, with potential considerations for dividends and investments in insurance and wealth platforms [24][25][26] Question: Competition in deposit markets - Management acknowledged heightened competition for deposits but emphasized their strong performance in core deposits and commercial deposits [35][36] Question: Trends in the CRE market - Management noted a healthier CRE market and expressed no interest in acquiring portfolios from competitors, focusing instead on relationship banking [40][41] Question: Potential for loan yields to increase - Management indicated that there is potential for yields to improve as the pipeline yield increases [45] Question: Plans for geographic expansion - Management expressed interest in expanding into adjacent geographies, particularly in Long Island and the Philly suburbs [52] Question: Initiatives to decrease deposit costs - Management stated that they are still repricing downward and expect further improvements in core margin with future Fed rate cuts [87] Question: Core systems conversion timeline - Management confirmed the core systems conversion is scheduled for Labor Day weekend of 2026, aimed at enhancing operational efficiency [88][89]

Core Insights - Provident Financial (PFS) reported revenue of $225.72 million for the quarter ended December 2025, marking a year-over-year increase of 9.6% and exceeding the Zacks Consensus Estimate by 0.84% [1] - The earnings per share (EPS) for the same period was $0.64, compared to $0.37 a year ago, resulting in an EPS surprise of 14.29% over the consensus estimate of $0.56 [1] Financial Performance Metrics - The efficiency ratio was reported at 51%, slightly above the average estimate of 50.7% based on two analysts [4] - The net interest margin stood at 3.4%, matching the average estimate from two analysts [4] - The average balance of total interest-earning assets was $22.8 billion, slightly below the average estimate of $22.89 billion [4] - Total non-interest income was reported at $28.31 million, exceeding the average estimate of $26.97 million from three analysts [4] - Net interest income was $197.41 million, compared to the average estimate of $197.04 million based on three analysts [4] Stock Performance - Shares of Provident Financial have returned +1.7% over the past month, outperforming the Zacks S&P 500 composite's +0.4% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

分组1 - Provident Financial reported quarterly earnings of $0.64 per share, exceeding the Zacks Consensus Estimate of $0.56 per share, and showing an increase from $0.37 per share a year ago, resulting in an earnings surprise of +14.29% [1] - The company achieved revenues of $225.72 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 0.84% and increasing from $205.91 million year-over-year [2] - Provident Financial has outperformed the S&P 500, with shares rising about 4.3% since the beginning of the year compared to the S&P 500's gain of 1.5% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.58 on revenues of $227.81 million, and for the current fiscal year, it is $2.42 on revenues of $937.91 million [7] - The Zacks Industry Rank for Financial - Savings and Loan is in the top 23% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

ISELIN, N.J., Jan. 27, 2026 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE:PFS) (the “Company”) reported net income of $83.4 million, or $0.64 per basic and diluted share for the three months ended December 31, 2025, compared to $71.7 million, or $0.55 per basic and diluted share, for the three months ended September 30, 2025 and $48.5 million, or $0.37 per basic and diluted share, for the three months ended December 31, 2024. For the year ended December 31, 2025, net income totaled $291.2 mil ...

Funding is provided through the FHBNY Small Business Recovery Grant ProgramISELIN, N.J., Jan. 27, 2026 (GLOBE NEWSWIRE) -- Provident Bank, a leading New Jersey-based financial institution, has announced it recently awarded an additional $50,000 in grants to 5 non-profit organizations as part of the Federal Home Loan Bank of New York (FHLBNY) Small Business Recovery Grant (SBRG) Program. The SBRG Program provides funds to benefit the small businesses of FHLBNY members, including farms and non-profit organiza ...