Group 1 - The article discusses Provident Financial Services (NYSE: PFS) and references a previous article published in February, indicating ongoing interest in the company [1] - Crude Value Insights is highlighted as an investment service focused on the oil and natural gas sector, emphasizing cash flow and growth potential [1] - The service offers subscribers access to a stock model account, cash flow analyses of exploration and production firms, and live discussions about the sector [2] Group 2 - A promotional offer is mentioned, allowing new subscribers to sign up for a two-week free trial to explore the oil and gas investment opportunities [3]

Company Overview - Provident Financial Services is a bank established in 1839 and is headquartered in Jersey City, New Jersey [1] - The bank currently has a high dividend yield of 5.39%, raising questions among investors regarding its attractiveness [1] Investment Considerations - Investors are evaluating the potential of Provident Financial Services based on its dividend yield and historical performance [1]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-31566 PROVIDENT FINANCIAL SERVICES, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 42-1547151 (State or Other Jurisdicti ...

Provident Financial Services (PFS 3.62%) reported GAAP net earnings of $72 million ($0.55 per share) for Q2 2025, highlighted by record revenue of $214 million, annualized ROA of 1.19%, and an adjusted return on average tangible equity of 16.8%. The company posted strong commercial and industrial loan growth, declining deposit costs, solid asset quality, a $0.45 increase in tangible book value per share, and reaffirmed quarterly operating expense guidance, providing a multi-faceted view of operational momen ...

Group 1 - The Board of Directors of Provident Financial Services, Inc. declared a quarterly cash dividend of $0.24 per common share, payable on August 29, 2025, to stockholders of record as of the close of business on August 15, 2025 [1] Group 2 - Provident Financial Services, Inc. is the holding company for Provident Bank, which has been providing community-oriented banking services since 1839 [2] - Provident Bank offers a comprehensive array of financial products and services through its branches located in New Jersey, Bucks, Lehigh, and Northampton counties in Pennsylvania, as well as Orange, Queens, and Nassau Counties in New York [2] - The Bank also provides fiduciary and wealth management services through its subsidiary, Beacon Trust Company, and insurance services through its subsidiary, Provident Protection Plus, Inc. [2]

Financial Data and Key Metrics Changes - The company reported net earnings of $72 million or $0.55 per share for the quarter, with an annualized return on average assets of 1.19% and an adjusted return on average tangible equity of 16.79% [4][10] - The pretax pre-provision return on average assets was 1.64%, showing improvement from the previous quarter and the same quarter last year [5][10] - Revenue increased to a record $214 million for the quarter, driven by record net interest income of $187 million and noninterest income of $27 million [10][13] - Tangible book value per share grew by $0.45 to $14.6, and the tangible common equity ratio improved to 8.03% [5][15] Business Line Data and Key Metrics Changes - The commercial lending team closed approximately $764 million in new loans, bringing total production to a record $1.4 billion for the first half of the year, with an annualized growth rate of 8% in the commercial loan portfolio [6][10] - The company’s fee-based businesses performed well, with Provident Protection Plus revenue increasing by 11.3% and income up by 10.1% compared to the same period in 2024 [8] - Beacon Trust revenue declined by 5.2% due to a decrease in average market value of assets under management, but AUM recovered to $4.1 billion by the end of the quarter [9] Market Data and Key Metrics Changes - Deposits increased by $260 million at an annualized growth rate of 5.6%, while the average cost of total deposits decreased to 2.1% [6][12] - The loan pipeline remains robust at approximately $2.6 billion, with a weighted average interest rate stable at 6.3% [7][12] - Nonperforming assets declined to 44 basis points of total assets, with net charge-offs decreasing to $1.2 million or three basis points of average loans [12][13] Company Strategy and Development Direction - The company aims to enhance its asset management capabilities and grow AUM through strategic hiring and integration with existing business lines [19] - There is a focus on organic growth, but the company remains open to M&A opportunities if they align with strategic goals [26] - The company is diversifying its commercial loan portfolio to reduce reliance on commercial real estate, with a current CRE ratio of 408% [7][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining momentum throughout the remainder of 2025, supported by strong capital formation and asset quality [5][9] - The economic forecast has improved, leading to a reserve release and a positive outlook on credit quality [20][23] - Management anticipates modest provisioning in the second half of the year, barring any significant market shifts [21][24] Other Important Information - The effective tax rate for the quarter was 29.7%, with expectations of approximately 29.5% for the remainder of 2025 [14][15] - The company approved a quarterly cash dividend of $0.24 per share, payable on August 29 [5] Q&A Session Summary Question: Changes in Beacon business strategy - Management clarified that there is no significant change in strategy, but a focus on enhancing sales and service to grow AUM [18][19] Question: Provisioning and economic forecasts - The reserve release was primarily driven by improved economic forecasts, particularly in commercial property prices [20] Question: M&A considerations - While the focus is on organic growth, management remains open to M&A opportunities if they align with strategic goals [26] Question: C&I loan growth drivers - Growth in C&I loans is attributed to both new originations and increased line utilization, with a diverse set of products contributing to production [30][34] Question: Wealth management fee performance - Wealth management fees were impacted by lower average AUM due to market volatility, but a recovery is noted [38] Question: Expense guidance for the back half of the year - Management indicated potential for expenses to come in at the lower end of the guidance range due to nonrecurring costs [43] Question: Municipal deposit flow seasonality - Management expects strong municipal deposit flows in the third quarter, with brokered deposits used to manage outflows [44][46] Question: NIM trajectory and competitive environment - The company anticipates NIM improvements despite competitive pressures, with a focus on asset repricing and new loan production [53][62]

Financial Data and Key Metrics Changes - The company reported net earnings of $72 million or $0.55 per share for the quarter, with an annualized return on average assets of 1.19% and an adjusted return on average tangible equity of 16.79% [4][10] - The pretax pre-provision return on average assets was 1.64%, showing improvement from the previous quarter and the same quarter last year [5][10] - Revenue increased to a record $214 million for the quarter, driven by record net interest income of $187 million and noninterest income of $27 million [10][14] - The tangible book value per share grew by $0.45 to $14.6, and the tangible common equity ratio improved to 8.03% [5][14] Business Line Data and Key Metrics Changes - The commercial lending team closed approximately $764 million in new loans, bringing total production to a record $1.4 billion for the first half of the year, with an annualized growth rate of 8% in the commercial loan portfolio [6][10] - The production mix consisted of 20% commercial real estate and 80% commercial and industrial loans [6] - Provident Protection Plus saw an 11.3% increase in revenue for the second quarter, while Beacon Trust revenue declined by 5.2% due to a decrease in average market value of assets under management [8][9] Market Data and Key Metrics Changes - Deposits increased by $260 million on an annualized growth rate of 5.6%, with the average cost of total deposits decreasing to 2.1% [6][12] - The loan pipeline remains robust at approximately $2.6 billion, with a weighted average interest rate stable at 6.3% [7][12] - Nonperforming assets declined to 44 basis points of total assets, with net charge-offs decreasing to $1.2 million or three basis points of average loans [12][13] Company Strategy and Development Direction - The company aims to enhance its asset management business by focusing on growing assets under management (AUM) and integrating better with other business lines [18][19] - The management is open to mergers and acquisitions but is currently focused on organic growth, evaluating strategic options as they arise [26][45] - The company is diversifying its commercial loan portfolio to reduce reliance on commercial real estate [30][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining momentum throughout the remainder of 2025, supported by strong capital formation and credit quality [5][9] - The economic forecast has improved, leading to a reserve release, and management expects modest provisioning in the second half of the year [20][22] - The company does not foresee any immediate slowdown in loan demand, indicating a positive outlook for continued growth [50] Other Important Information - The effective tax rate for the quarter was 29.7%, with expectations to approximate 29.5% for the remainder of 2025 [14] - Noninterest expenses were $114.6 million, with an efficiency ratio improving to 53.5% for the quarter [14] Q&A Session Summary Question: Changes in Beacon business strategy - Management clarified that there is no significant change in strategy but a focus on enhancing sales and service to grow AUM [18][19] Question: Provisioning and economic forecast - The reserve release was primarily driven by improved economic forecasts, particularly the commercial property price index [20] Question: M&A considerations - Management remains open to M&A opportunities but is currently focused on organic growth [26] Question: Drivers of C&I loan growth - The growth in commercial and industrial loans is attributed to a diverse set of products and increased line utilization [29][30] Question: Wealth management fees and AUM - Wealth management fees were impacted by lower average AUM due to market volatility, but there has been a recovery in asset valuations [35] Question: Expense guidance for the second half of the year - Management indicated potential for lower expenses in the back half of the year, influenced by incentive accruals and nonrecurring costs [38] Question: Municipal deposit flow seasonality - Management expects seasonal inflows in municipal deposits and indicated that brokered deposits were used to manage funding needs [39][41] Question: NIM trajectory and competition - The company anticipates NIM improvements despite competitive pressures, with a focus on asset repricing and new loan production [52][56]

Provident Financial Services, Inc. Reports Second Quarter Earnings ISELIN, NJ, July 24, 2025 - Provident Financial Services, Inc. (NYSE:PFS) (the "Company") reported net income of $72.0 million, or $0.55 per basic and diluted share for the three months ended June 30, 2025, compared to $64.0 million, or $0.49 per basic and diluted share, for the three months ended March 31, 2025 and a net loss of $11.5 million, or $(0.11) per basic and diluted share, for the three months ended June 30, 2024. For the six mont ...

Provident Financial (PFS) came out with quarterly earnings of $0.55 per share, beating the Zacks Consensus Estimate of $0.5 per share. This compares to earnings of $0.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +10.00%. A quarter ago, it was expected that this holding company for The Provident Bank would post earnings of $0.47 per share when it actually produced earnings of $0.5, delivering a surprise of +6.38%.Over the ...

ISELIN, N.J., July 24, 2025 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE:PFS) (the “Company”) reported net income of $72.0 million, or $0.55 per basic and diluted share for the three months ended June 30, 2025, compared to $64.0 million, or $0.49 per basic and diluted share, for the three months ended March 31, 2025 and a net loss of $11.5 million, or $(0.11) per basic and diluted share, for the three months ended June 30, 2024. For the six months ended June 30, 2025, net income totaled $136 ...