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 March 31, 2021 OR ☐ 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 Jurisd ...

Financial Data and Key Metrics Changes - Earnings per share for Q1 2021 were $0.63, up from $0.23 in Q1 2020, driven by a negative provision for credit losses and improved revenue from the SB One acquisition [6][24] - Net income increased to $48.6 million from $40.6 million in the previous quarter [24] - Annualized return on average assets was 1.51% and return on average tangible equity was 16.8% [7] Business Line Data and Key Metrics Changes - Loan originations were strong at $539 million for the quarter, including $190 million of PPP 2 loans, but elevated payoffs impacted overall loan growth [28] - Non-interest income increased by $1.2 million to $22 million, driven by growth in insurance agency income and wealth management [33] - Operating expenses rose to $61.9 million, primarily due to the addition of compensation and occupancy expenses from the SB One acquisition [11] Market Data and Key Metrics Changes - The loan pipeline at the end of Q1 was approximately $1.3 billion, with a marginal improvement in average rates [23][28] - The company does not have significant exposure to pressured sectors such as office space in Manhattan and retail centers without grocery anchors [21] - The overall competition in the banking sector has intensified due to excess liquidity, leading to more aggressive pricing strategies [22] Company Strategy and Development Direction - The company is focusing on enhancing its commercial banking capabilities and optimizing its branch network [16][17] - Digital transformation is a key priority to streamline processes and improve customer experience [18] - Mergers and acquisitions will remain part of the growth strategy, with an emphasis on cultural compatibility [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued improvement as the economy recovers and vaccination rates increase [13] - The company anticipates solid loan growth for the remainder of the year, projecting a 5% to 6% increase in loans, net of PPP loan payoffs [90] - The effective tax rate is projected to be around 25% for the remainder of 2021 [34] Other Important Information - The efficiency ratio was reported at 56.19%, indicating operational efficiency [12] - Non-performing assets decreased to 65 basis points of total assets from 72 basis points at the end of the previous quarter [30] Q&A Session Summary Question: Can you break out the PPP fees and purchase accounting adjustments? - The core NIM is expected to be in the 3.01% to 3.05% range, with PPP contributing about 8 basis points [40] Question: Can expenses be reduced below $60 million per quarter? - A target of around $60 million is reasonable, with some non-recurring items expected to decrease [42] Question: What is the outlook for insurance agency income? - Insurance income is typically strong in Q1, with expectations for a cyclical pattern throughout the year [46] Question: What are the opportunities for organic loan growth? - The loan pipeline is solid, with a projected growth of 5% to 6% for the year, net of PPP loan payoffs [90]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Fiscal Year Ended December 31, 2020 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File No. 1-31566 PROVIDENT FINANCIAL SERVICES, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 42-1547151 (Address of Principal Executive O ...

Provident Financial Services, Inc. (NYSE:PFS) Q4 2020 Earnings Conference Call January 28, 2021 10:00 AM ET Company Participants Leonard Gleason - Senior Vice President & Investor Relation Officer Chris Martin - Chairman, President & Chief Executive Officer Thomas Lyons - Senior Executive Vice President & Chief Financial Officer Tony Labozzetta - President & Chief Operating Officer Conference Call Participants Mark Fitzgibbon - Piper Sandler Erik Zwick - Boenning and Scattergood Steven Duong - RBC Capital M ...

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