Provident Financial Services, Inc. Earnings Recaps
Q3 2025
Oct 31, 2025
Provident Financial Services delivered strong Q3 performance with net earnings of $72 million or $0.55 per share, reflecting robust growth in both loans and deposits alongside increased operational efficiency.
Key takeaways
- Record pretax pre-provision earnings reached $109 million, marking a 9% increase quarter-over-quarter.
- Deposits surged by $388 million, driven primarily by a 7.5% increase in core deposits.
- Commercial loan production totaled $742 million, contributing to a 5% annualized growth in the loan portfolio.
- Noninterest income grew by 6.1% year-over-year, bolstered by the success of Provident Protection Plus and Beacon Trust.
- A quarterly cash dividend of $0.24 per share was approved, reinforcing a secure capital position that exceeds well-capitalized requirements.
Q2 2025
Jul 25, 2025
Provident Financial Services delivered a robust second quarter with net earnings of $72 million, reflecting strong asset growth, improved margins, and enhanced asset quality.
Key takeaways
- Net income reached $72 million, or $0.55 per share, with an annualized return on assets of 1.19%.
- Record earnings driven by a 7% increase in average earning assets and net interest income of $187 million.
- Deposits grew by $260 million, maintaining a reduced average cost of total deposits at 2.1%.
- Strong asset quality with nonperforming assets at 44 basis points and minimal net charge-offs of $1.2 million.
- The loan pipeline remains promising at approximately $1.6 billion, supporting future commercial loan growth expectations.