Provident Financial Services, Inc. has filed an 8-K report with the Securities and Exchange Commission to furnish presentation materials for its third-quarter earnings release. The materials, attached as Exhibit 99.1, provide a detailed overview of the company’s financial performance and outlook for the remainder of 2026. The earnings release is scheduled to be filed on October 29, 2026.
The presentation highlights that the company’s total assets stand at $25.8 billion, with total loans reaching $20.2 billion and total deposits at $19.8 billion. The bank reported a core diluted earnings per share (EPS) of $0.65 for the third quarter of 2026. The company also reported a core return on average assets (ROAA) of 1.85% and a core return on average tangible common equity (ROATCE) of 16.57%.
Revenue for the quarter was $239 million, driven by record net interest income and non-interest income. The company noted that its net interest margin expanded in the third quarter, benefiting from higher yields on earning assets and favorable repricing of maturing loans. Total commercial loans increased by 3.4% on a quarterly annualized basis, and the total loan pipeline remained strong at $3.03 billion, with a weighted average interest rate approaching 6.50%.
On the expense side, total non-interest expense increased to $140.7 million for the quarter, primarily due to a $17.5 million one-time loss on the extinguishment of debt and costs associated with a core system conversion. Despite these costs, the company reported positive operating leverage.
Provident Financial also provided guidance for 2026, projecting annualized loan growth of 5-6% and deposit growth of 5-6%. The company expects its net interest margin to expand by 1-2 basis points in the fourth quarter, with an operating expense ratio target of approximately 1.85% and an efficiency ratio target of around 50.0%.
