---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-012935"
form_type: "8-K"
ticker: "PFS"
cik: "0001178970"
company_name: "PROVIDENT FINANCIAL SERVICES INC"
filed_at: "2024-03-25T23:59:59+00:00"
generated_at: "2026-06-04T08:20:57.334770+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Provident Financial receives FDIC and NJ approvals for Lakeland merger; $200M sub-debt required

## Summary
- FDIC and NJ Department of Banking and Insurance approved the merger of Provident and Lakeland.
- Approval conditions include a $200M capital raise via Tier 2 subordinated debt before closing.
- Post-merger Provident Bank must maintain 8.5% Tier 1 leverage and 11.25% total capital ratios.
- Combined board expected to have 9 directors from Provident and 5 from Lakeland.
- Merger agreement extended to June 30, 2024; closing anticipated in Q2 2024 subject to Fed approval.

## SEC filing metadata
- accession: 0001628280-24-012935
- form_type: 8-K
- ticker: PFS
- cik: 0001178970
- company_name: PROVIDENT FINANCIAL SERVICES INC
- filed_at: 2024-03-25T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1178970/000162828024012935/0001628280-24-012935-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1178970/000162828024012935/pfs-20240325.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-012935
- JSON: https://secwatch.observer/filing/0001628280-24-012935.json
- Plain text: https://secwatch.observer/filing/0001628280-24-012935.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.