secwatch.observer — SEC 8-K summary
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Issuer:     PROVIDENT FINANCIAL SERVICES INC (PFS)
CIK:        0001178970
Form:       8-K
Filed at:   2024-04-19T23:59:59+00:00
Accession:  0001628280-24-016891
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Provident Financial Q1 net income $32.1M, EPS $0.43; net interest margin narrows to 2.87%
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- Net income $32.1M ($0.43 diluted) vs $40.5M ($0.54) in Q1 2023, down 20.7%.
- Net interest margin 2.87% vs 3.48% a year ago, down 61 bps; net interest income $93.7M vs $108.3M.
- All regulatory approvals obtained for Lakeland Bancorp merger; closing subject to subordinated debt offering.
- Quarterly dividend $0.24 per share, payable May 31 to record Apr 29; unchanged.
- Non-performing loans improved to 0.44% of total loans; C&I loans grew 11.5% annualized.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1178970/000162828024016891/0001628280-24-016891-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1178970/000162828024016891/pfs-20240418.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-016891

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