Provident files risk factors and financials for Lakeland merger; exchange ratio 0.8319, $50M termination fee

PROVIDENT FINANCIAL SERVICES INC

Exchange ratio fixed at 0.8319 Provident shares per Lakeland share; no adjustment for price changes.
Termination fee of $50 million payable by either party under certain conditions if deal fails.
DOJ consent order requires Lakeland Bank to invest $12M over 5 years in loan subsidy fund and open two new branches.
Litigation related to merger filed; could delay or prevent completion.
Historical Lakeland financials (audited FY2023, unaudited Q1 2024) and pro forma combined statements filed as Exhibits 99.2-99.4.

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