secwatch.observer — SEC 8-K summary
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Issuer:     PROVIDENT FINANCIAL SERVICES INC (PFS)
CIK:        0001178970
Form:       8-K
Filed at:   2024-01-26T23:59:59+00:00
Accession:  0001628280-24-002309
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1178970/000162828024002309/0001628280-24-002309-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1178970/000162828024002309/pfs-20240125.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-002309

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