--- schema_version: "secwatch.filing_event.v1" accession: "0001193125-24-140083" form_type: "8-K" ticker: "PFS" cik: "0001178970" company_name: "PROVIDENT FINANCIAL SERVICES INC" filed_at: "2024-05-16T23:59:59+00:00" generated_at: "2026-06-01T19:19:51.603983+00:00" event_type: "m_and_a" sentiment: "positive" materiality_score: 0.9 calibrated_materiality_score: 0.9 confidence: "high" source: SEC EDGAR --- # Provident completes merger with Lakeland Bancorp; combined assets $24.5B ## Summary - Lakeland shareholders receive 0.8319 PFS shares per share; combined ownership 58% Provident, 42% Lakeland. - Pro forma combined: $24.5B assets, $18.8B loans, $18.6B deposits, $2.3B equity; 140 branches. - Assumed $49.8M trust preferred securities and $150M 2.875% sub notes due 2031. - Board expanded to 14; Thomas Shara appointed Executive Vice Chairman; five former Lakeland directors added. - Several Lakeland executives appointed to key roles: Timothy Matteson (CAO), James Nigro (CCO), John Rath (CLO). ## SEC filing metadata - accession: 0001193125-24-140083 - form_type: 8-K - ticker: PFS - cik: 0001178970 - company_name: PROVIDENT FINANCIAL SERVICES INC - filed_at: 2024-05-16T23:59:59+00:00 - event_type: m_and_a - sentiment: positive - materiality_score: 0.9 - calibrated_materiality_score: 0.9 - confidence: high - sec_items: 2.01, 2.03, 5.02, 5.03, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1178970/000119312524140083/0001193125-24-140083-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1178970/000119312524140083/d795517d8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001193125-24-140083 - JSON: https://secwatch.observer/filing/0001193125-24-140083.json - Plain text: https://secwatch.observer/filing/0001193125-24-140083.txt ## Key facts - Debt Financings PROVIDENT FINANCIAL SERVICES INC incurred senior notes of $150.0 million at 2.875% fixed-to-floating rate maturing September 15, 2031. - Instrument: senior notes - Principal: $150.0 million - Rate: 2.875% fixed-to-floating rate - Maturity: September 15, 2031 - Event: incurrence source text: $150.0 million aggregate principal amount of 2.875% fixed-to-floating rate subordinated notes due September 15, 2031 evidence_url: https://www.sec.gov/Archives/edgar/data/1178970/000119312524140083/0001193125-24-140083-index.htm - Executive change Thomas J. Shara was appointed as Executive Vice Chairman at PROVIDENT FINANCIAL SERVICES INC. - Action: appointed - Role: Executive Vice Chairman source text: effective as of the Effective Time, Mr. Shara, the President and Chief Executive Officer of Lakeland prior to the Effective Time, was appointed Executive Vice Chairman of Provident. evidence_url: https://www.sec.gov/Archives/edgar/data/1178970/000119312524140083/0001193125-24-140083-index.htm - Executive change Terence Gallagher resigned as Director at PROVIDENT FINANCIAL SERVICES INC. - Action: resigned - Role: Director source text: at the Effective Time, Terence Gallagher and Robert McNerney (the “Resigning Directors”) resigned as members of the Board. evidence_url: https://www.sec.gov/Archives/edgar/data/1178970/000119312524140083/0001193125-24-140083-index.htm - Executive change Robert McNerney resigned as Director at PROVIDENT FINANCIAL SERVICES INC. - Action: resigned - Role: Director source text: at the Effective Time, Terence Gallagher and Robert McNerney (the “Resigning Directors”) resigned as members of the Board. evidence_url: https://www.sec.gov/Archives/edgar/data/1178970/000119312524140083/0001193125-24-140083-index.htm - Governance Changes PROVIDENT FINANCIAL SERVICES INC: Amended and restated bylaws to provide for board composition and director succession arrangements in connection with merger. - Change: bylaw amendment source text: In connection with the Transaction and in accordance with the Merger Agreement, effective as of the Effective Time, the bylaws of Provident were amended and restated to provide for certain arrangements related to the Board and the board of directors of Provident Bank (such amendment, the “Bylaw Amendment,” and Provident’s bylaws, as amended and restated in accordance with the Bylaw Amendment, the “Amended and Restated Bylaws”). evidence_url: https://www.sec.gov/Archives/edgar/data/1178970/000119312524140083/0001193125-24-140083-index.htm - M&A Transactions PROVIDENT FINANCIAL SERVICES INC completed an acquisition involving Lakeland Bancorp, Inc. for 0.8319 of a share of common stock, par value $0.01 per share, of Provident (closed 2024-05-15). - Action: acquisition - Counterparty: Lakeland Bancorp, Inc. - Consideration: 0.8319 of a share of common stock, par value $0.01 per share, of Provident - Closing: 2024-05-15 source text: Effective on May 15, 2024, after the close of business, Provident Financial Services, Inc., a Delaware corporation (“Provident”), completed its previously announced combination with Lakeland Bancorp, Inc., a New Jersey corporation (“Lakeland”), pursuant to the Agreement and Plan of Merger, dated as of September 26, 2022 (the “Original Agreement”), by and among Provident, NL 239 Corp., a Delaware corporation and a direct, wholly owned subsidiary of Provident (“Merger Sub”), and Lakeland, as amended by Amendment No. evidence_url: https://www.sec.gov/Archives/edgar/data/1178970/000119312524140083/0001193125-24-140083-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.