Core Insights - Provident Financial Services, Inc. reported a net income of $71.7 million for Q3 2025, maintaining the same earnings per share as the previous quarter, while showing significant growth compared to $46.4 million in Q3 2024 [1][14] - For the nine months ended September 30, 2025, net income totaled $207.7 million, a substantial increase from $67.0 million in the same period of 2024 [22] - The company achieved record revenues of $221.8 million for Q3 2025, driven by record net interest income and non-interest income [6][10] Financial Performance - Net interest income increased by $7.2 million to $194.3 million for Q3 2025, attributed to new loan originations and securities at current market rates [7][15] - The net interest margin rose to 3.43% for Q3 2025, up from 3.36% in the previous quarter [8][16] - Total deposits increased by $387.7 million, or 8.22% annualized, reaching $19.10 billion as of September 30, 2025 [6][41] Asset Quality - Non-performing loans decreased to $100.4 million, or 0.52% of total loans, as of September 30, 2025, down from $107.2 million in the previous quarter [29][30] - The allowance for credit losses related to the loan portfolio was 0.97% of total loans as of September 30, 2025, a slight decrease from 0.98% in the previous quarter [31] Non-Interest Income and Expenses - Non-interest income totaled $27.4 million for Q3 2025, an increase of $344,000 compared to the previous quarter, with fee income rising primarily due to loan prepayment fees [10][18] - Non-interest expense decreased to $113.1 million for Q3 2025, down from $114.6 million in the previous quarter, driven by reductions in various operating expenses [11][19] Tax and Equity - The income tax expense for Q3 2025 was $29.9 million, with an effective tax rate of 29.4%, compared to $30.5 million and 29.7% in the previous quarter [13][21] - Stockholders' equity increased by $165.8 million during the nine months ended September 30, 2025, reaching $2.77 billion [44]

Core Viewpoint - Northfield Bancorp, Inc. reported a significant increase in net income for the third quarter and the first nine months of 2025, driven by higher net interest income and effective management of expenses [1][12][20]. Financial Performance - For the three months ended September 30, 2025, net income was $10.8 million, or $0.27 per diluted share, compared to $6.5 million, or $0.16 per diluted share, for the same period in 2024, marking a 66.2% year-over-year increase [1][12]. - For the nine months ended September 30, 2025, net income totaled $28.2 million, or $0.70 per diluted share, up from $18.7 million, or $0.45 per diluted share, for the same period in 2024, representing a 50.3% increase [1][3]. Net Interest Income - Net interest income for the quarter increased by $6.3 million, or 22.3%, to $34.5 million compared to $28.2 million for the third quarter of 2024 [14]. - For the nine months ended September 30, 2025, net interest income rose by $15.9 million, or 18.7%, to $100.7 million from $84.8 million for the same period in 2024 [4][7]. Provision for Credit Losses - The provision for credit losses on loans increased by $3.4 million to $5.7 million for the nine months ended September 30, 2025, compared to $2.3 million for the same period in 2024 [8]. - For the quarter ended September 30, 2025, the provision for credit losses decreased by $1.5 million to $1.1 million from $2.5 million for the same quarter in 2024 [16]. Non-Interest Income and Expenses - Non-interest income increased by $2.5 million, or 25.0%, to $12.3 million for the nine months ended September 30, 2025, compared to $9.8 million for the same period in 2024 [9]. - Non-interest expense rose by $2.1 million, or 3.2%, to $67.8 million for the nine months ended September 30, 2025, compared to $65.7 million for the same period in 2024 [10]. Dividend Declaration - The Company declared a quarterly cash dividend of $0.13 per common share, payable on November 19, 2025, to stockholders of record on November 5, 2025 [2]. Asset Quality - As of September 30, 2025, non-performing loans to total loans stood at 0.49%, up from 0.36% at June 30, 2025, indicating a slight deterioration in asset quality [5]. Financial Condition - Total assets increased by $59.1 million, or 1.0%, to $5.73 billion at September 30, 2025, primarily due to an increase in available-for-sale debt securities [28]. - Total liabilities increased by $44.2 million, or 0.9%, to $5.01 billion at September 30, 2025, driven by an increase in borrowings [38]. Deposits - Total deposits decreased by $164.7 million, or 4.0%, to $3.97 billion at September 30, 2025, compared to $4.14 billion at December 31, 2024 [39].