secwatch.observer — SEC 8-K summary
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Issuer:     PROVIDENT FINANCIAL SERVICES INC (PFS)
CIK:        0001178970
Form:       8-K
Filed at:   2023-10-27T23:59:59+00:00
Accession:  0001628280-23-035379
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1178970/000162828023035379/0001628280-23-035379-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1178970/000162828023035379/pfs-20231026.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-035379

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