Provident Financial Q3 net income rises to $43.4M, EPS $0.58; net interest margin expands to 3.51%

PROVIDENT FINANCIAL SERVICES INC

2022-Q3 EPS reported $1.69 revenue$42,102,000

Net income $43.4M ($0.58 EPS) vs $37.3M ($0.49) in Q3 2021 and $39.2M ($0.53) in Q2 2022.
Net interest margin increased 30 bps sequentially to 3.51%; net interest income $109.5M, up $10.0M from Q2.
Recorded $8.4M provision for credit losses vs $3.0M in Q2, citing weakening economic forecast.
Declared quarterly cash dividend of $0.24 per share, payable Nov 25, 2022.
Pending merger with Lakeland Bancorp; incurred $2.9M in non-deductible transaction costs.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PROVIDENT FINANCIAL SERVICES INC reported the nine months ended September 30, 2022 results: net income $126.6 million, EPS $1.69 per basic and diluted share.

Period: the nine months ended September 30, 2022
Net income: $126.6 million
EPS: $1.69 per basic and diluted share
Result: reported results

Exact text from the filing

For the nine months ended September 30, 2022, net income totaled $126.6 million, or $1.69 per basic and diluted share, compared to $130.6 million, or $1.71 per basic share and $1.70 per diluted share, for the nine months ended September 30, 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PROVIDENT FINANCIAL SERVICES INC reported the three months ended September 30, 2022 results: net income $43.4 million, EPS $0.58 per basic and diluted share.

Period: the three months ended September 30, 2022
Net income: $43.4 million
EPS: $0.58 per basic and diluted share
Result: reported results

Exact text from the filing

Provident Financial Services, Inc. (NYSE:PFS) (the “Company”) reported net income of $43.4 million, or $0.58 per basic and diluted share for the three months ended September 30, 2022, compared to $39.2 million, or $0.53 per basic and diluted share, for the three months ended June 30, 2022 and $37.3 million, or $0.49 per basic and diluted share, for the three months ended September 30, 2021.

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Source: SEC EDGAR

accession 0001628280-22-027294

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