Revenue: As of FY2026 Q2, the actual value is USD 234.65 M.

EPS: As of FY2026 Q2, the actual value is USD 0.6, beating the estimate of USD 0.565.

EBIT: As of FY2026 Q2, the actual value is USD 114.44 M.

Net Income

Provident Financial Services, Inc. reported net income of $78.1 million for the three months ended June 30, 2026, compared to $79.4 million for the three months ended March 31, 2026, and $72.0 million for the three months ended June 30, 2025. For the six months ended June 30, 2026, net income totaled $157.6 million, an increase from $136.0 million for the six months ended June 30, 2025. Core net income for the three months ended June 30, 2026, was $79.9 million, and for the six months ended June 30, 2026, it was $159.3 million.

Core Pre-Provision, Net Revenue (PPNR)

Core PPNR for the three months ended June 30, 2026, was $117.8 million, an increase from $99.6 million for the three months ended June 30, 2025, representing $18.2 million growth from the prior year quarter.

Profitability Ratios

Annualized core return on average assets (ROAA) improved to 1.27% for the quarter ended June 30, 2026, from 1.19% in the prior year quarter. Annualized return on average assets was 1.24% for Q2 2026, down from 1.29% in Q1 2026 and 1.34% in Q4 2025. Annualized core PPNR return on average assets was 1.87% for Q2 2026, up from 1.75% in Q1 2026 and 1.64% in Q2 2025.

Net Interest Income and Margin

Net interest income for the three months ended June 30, 2026, was $202.7 million, an increase of $15.6 million compared to $187.1 million in the prior year quarter, and up from $193.7 million in the trailing quarter. Net interest margin was 3.48% for Q2 2026, compared to 3.40% in Q1 2026 and 3.36% in Q2 2025. The core net interest margin increased by 5 basis points from the trailing quarter to 3.09% and by 16 basis points from the prior year quarter. The yield on interest-earning assets increased by 8 basis points to 5.61% from Q1 2026, while the cost of interest-bearing liabilities remained at 2.71%. Compared to Q2 2025, the yield on interest-earning assets decreased by seven basis points to 5.61%, and the cost of interest-bearing liabilities decreased by 23 basis points to 2.71%.

Non-Interest Income and Expense

Total non-interest income increased by $4.9 million to $32.0 million for the three months ended June 30, 2026, compared to $27.1 million in the prior year quarter. This increase was primarily driven by a $1.5 million increase in fee income, a $1.2 million increase in BOLI income, and a $1.1 million increase in other non-interest income. Total non-interest expense was $119.3 million for Q2 2026, an increase of $4.6 million from $114.6 million in Q2 2025. The increase was primarily due to a $4.0 million rise in compensation and benefits expense and $1.5 million related to core system conversion costs. The Company’s annualized core non-interest expense as a percentage of average assets was 1.85% for Q2 2026, compared to 1.89% for the same period last year. The core efficiency ratio was 49.75% for Q2 2026, an improvement from 53.52% for the same period last year.

Loan Portfolio & Growth

Loans held for investment totaled $20.05 billion as of June 30, 2026, up from $19.50 billion as of December 31, 2025. This included net increases of $407.6 million in commercial loans, $139.5 million in multi-family loans, and $103.8 million in commercial mortgage loans, partially offset by decreases in other loan categories. Total commercial loans, including mortgage warehouse lines, commercial mortgage, multi-family, and construction loans, increased 9.9% annualized for the quarter and represented 87.3% of the loan portfolio as of June 30, 2026. The loan pipeline reached a record $3.17 billion as of June 30, 2026, with a weighted average interest rate of 6.33%. Loan funding totaled $5.28 billion for Q2 2026, compared with $4.30 billion for the same period in 2025. Unfunded loan commitments were $4.07 billion as of June 30, 2026, an increase from $3.71 billion as of December 31, 2025.

Asset Quality

Total non-performing loans as of June 30, 2026, were $136.9 million, or 0.68% of total loans held for investment, a decline of $6.0 million compared to $142.9 million as of March 31, 2026. However, non-performing loans increased from $78.4 million (0.40%) as of December 31, 2025. The allowance for credit losses on loans represented 134.87% of non-performing loans as of June 30, 2026, down from 235.61% at December 31, 2025. Net charge-offs were $1.9 million for the quarter, compared to $3.1 million in the prior quarter and $1.2 million a year ago. The annualized ratio of net charge-offs to average total loans was 0.04% for Q2 2026, compared to 0.06% in Q1 2026 and 0.03% in Q2 2025. The provision for credit losses was $9.3 million for Q2 2026, compared to a - $2.1 million recapture in Q1 2026 and a - $2.9 million recapture in Q2 2025. Total non-performing assets at June 30, 2026, increased to $137.9 million (0.54% of total assets) from $80.4 million (0.32% of total assets) at December 31, 2025.

Balance Sheet

Total assets were $25.66 billion as of June 30, 2026, up from $24.98 billion as of December 31, 2025. Total deposits increased to $19.55 billion as of June 30, 2026, from $19.28 billion as of December 31, 2025. This increase was primarily driven by a $351.4 million increase in money market deposits and a $94.1 million increase in non-interest bearing demand deposits, partially offset by a $328.7 million decrease in interest bearing demand deposits. Borrowed funds increased to $2.41 billion as of June 30, 2026, from $2.11 billion as of December 31, 2025, representing 9.4% of total assets. Stockholders’ equity totaled $2.91 billion as of June 30, 2026, compared to $2.83 billion as of December 31, 2025.

Capital Position

Tangible book value per share grew 2% quarter over quarter to $16.42 as of June 30, 2026, and 12% year over year. The tangible common equity ratio consistently grew, reaching 8.60% as of June 30, 2026, up from 8.03% as of June 30, 2025. Common Equity Tier One and Total Risk Based Capital ratios for Provident Bank were 12.1% and 13.0%, respectively, as of June 30, 2026, both above well-capitalized levels.

Outlook / Guidance

Provident Financial Services, Inc. is optimistic for continued organic growth with an unchanged commitment to achieving top quartile risk-adjusted returns. The company is focused on driving sustainable, diversified loan growth, supported by investments in its commercial banking group. Provident Financial Services, Inc. cautions that forward-looking statements are subject to numerous risks and uncertainties, including economic environment, inflation, competitive products, and changes in government regulations.