Provident Financial Q4 net income falls to $27.3M ($0.36 EPS) from $49.0M; dividend $0.24

PROVIDENT FINANCIAL SERVICES INC

2023-FY EPS reported $1.71 revenue$57,525,000

Q4 net income $27.3M ($0.36 diluted EPS) vs $49.0M ($0.66) year ago; full year $128.4M ($1.71) vs $175.6M ($2.35).
Net interest margin 2.92% (down 70bp YoY); loan portfolio grew $206.1M (7.7% annualized) to $10.87B.
Merger with Lakeland extended to March 31, 2024 pending regulatory approvals; transaction costs $2.5M in Q4.
Quarter included $3.0M litigation reserve, $2.0M foreclosed property write-down, and $775k FDIC assessment.
Dividend $0.24/share payable Feb 23, record Feb 9; annual meeting April 25 virtual.

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 year ended December 31, 2023 results: net income $128.4 million, EPS $1.72 per basic share and $1.71 per diluted share.

Period: the year ended December 31, 2023
Net income: $128.4 million
EPS: $1.72 per basic share and $1.71 per diluted share
Result: reported results

Exact text from the filing

For the year ended December 31, 2023, net income totaled $128.4 million, or $1.72 per basic share and $1.71 per diluted share

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PROVIDENT FINANCIAL SERVICES INC reported the three months ended December 31, 2023 results: net income $27.3 million, EPS $0.36 per basic and diluted share.

Period: the three months ended December 31, 2023
Net income: $27.3 million
EPS: $0.36 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 $27.3 million, or $0.36 per basic and diluted share for the three months ended December 31, 2023

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13 earnings releases filed in the last 30 days. Browse all earnings releases →

PROVIDENT FINANCIAL SERVICES INC filing history →

Source: SEC EDGAR

accession 0001628280-24-002309

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