Provident Fin. Q3 net income $28.5M ($0.38/sh), down from $43.4M ($0.58/sh) YoY; margin 2.96%

PROVIDENT FINANCIAL SERVICES INC

2023-Q3 EPS reported $1.35 revenue$43,858,000

Net income $28.5M ($0.38/sh) for Q3 2023 vs $43.4M ($0.58/sh) YoY and $32.0M ($0.43/sh) QoQ.
Net interest margin 2.96% vs 3.11% QoQ and 3.51% YoY; loan portfolio grew 5.2% ann. to $10.67B.
Provision for credit losses $11.0M vs $10.4M QoQ; allowance for credit losses 1.01% of loans vs 0.97%.
Declared quarterly dividend $0.24/sh, unchanged; payable Nov 24, record Nov 10.
Merger with Lakeland pending; transaction costs $2.3M in Q3; regulatory discussions ongoing.

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 0.95

PROVIDENT FINANCIAL SERVICES INC reported the three and nine months ended September 30, 2023 results: net income $28.5 million, EPS $0.38 per basic and diluted share.

Period: the three and nine months ended September 30, 2023
Net income: $28.5 million
EPS: $0.38 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 $28.5 million, or $0.38 per basic and diluted share for the three months ended September 30, 2023

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PROVIDENT FINANCIAL SERVICES INC filing history →

Source: SEC EDGAR

accession 0001628280-23-035379

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