secwatch.observer — SEC 8-K summary
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Issuer:     PROVIDENT FINANCIAL SERVICES INC (PFS)
CIK:        0001178970
Form:       8-K
Filed at:   2022-10-28T23:59:59+00:00
Accession:  0001628280-22-027294
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1178970/000162828022027294/0001628280-22-027294-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1178970/000162828022027294/pfs-20221028.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-027294

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