PROVIDENT FINANCIAL SERVICES INC SEC 10-Q Report

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2025.11.06 18:23
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Provident Financial Services Inc. has released its latest Form 10-Q report, showcasing strong financial performance with total interest income of $947.9 million, net income of $207.7 million, and basic earnings per share of $1.59. The company reported growth in its loan portfolio, increasing from $18.67 billion to $19.30 billion, driven by commercial and multi-family mortgage loans. Management anticipates continued growth despite economic uncertainties, focusing on credit quality and interest rate risk management.

Provident Financial Services Inc., a prominent player in the financial services industry, has released its latest Form 10-Q report, showcasing robust financial and operational performance. The report highlights significant growth in key financial metrics and provides insights into the company's business activities and future outlook.

Financial Highlights

Provident Financial Services Inc. has reported impressive financial results for the period, reflecting strong profitability and growth:

  • Total Interest Income: $947.9 million, a significant increase from $734.2 million in the prior year period, driven by higher interest rates and loan growth.
  • Net Interest Income: $563.2 million, up from $418.9 million, indicating improved interest margins.
  • Net Income: $207.7 million, a substantial increase from $67.0 million, highlighting strong profitability.
  • Basic Earnings Per Share: $1.59, compared to $0.65, reflecting enhanced earnings performance.
  • Diluted Earnings Per Share: $1.59, up from $0.65, consistent with the basic EPS growth.

Business Highlights

The company's business performance has also been noteworthy, with key operational metrics indicating growth and strategic focus:

  • Revenue Segments: The company reported interest and dividend income from various loan categories, including real estate secured loans, commercial loans, and consumer loans. Additionally, income was generated from available for sale debt securities, equity securities, and Federal Home Loan Bank stock.
  • Sales Units: Provident Financial Services Inc. experienced growth in its loan portfolio, with total gross loans increasing from $18,667,570,000 as of December 31, 2024, to $19,295,970,000 as of September 30, 2025. This growth was primarily driven by increases in commercial and multi-family mortgage loans.
  • Future Outlook: Management anticipates continued growth in the loan portfolio, although the economic forecast remains uncertain. The company is focused on maintaining credit quality and managing interest rate risk in the current economic environment.

SEC Filing: PROVIDENT FINANCIAL SERVICES INC [ PFS ] - 10-Q - Nov. 06, 2025

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