Provident Q1 net income $64M, EPS $0.49; declares $0.24 dividend

PROVIDENT FINANCIAL SERVICES INC

2025-Q1 EPS reported $0.49 revenue$18,870,000

Net income $64.0M ($0.49/share) vs $48.5M ($0.37) in Q4 2024 and $32.1M ($0.43) in Q1 2024.
Net interest margin expanded to 3.34% from 3.28% QoQ; core NIM up 9 bps to 2.94%.
Commercial loan portfolio grew $150M (3.8% annualized); C&I loans up $74.3M (6.5% annualized).
Provision for credit losses on loans dropped to $325K from $7.8M in Q4; allowance 1.02% of loans.
Board declared $0.24/share quarterly dividend, payable May 30, 2025, record May 16, 2025.

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