Earnings Releases·Oct 29, 2026, 12:50 PM ET

Provident Financial Services — Third Quarter 2026 Earnings Summary

Net income for the quarter declined to $69.2 million ($0.53/share) from $78.1 million ($0.60/share) in the prior quarter and $71.7 million ($0.55/share) year-over-year, while nine-month net income rose to $226.7 million ($1.74/share) from $207.7 million ($1.59/share) in 2025; core net income for the quarter was $84.3 million ($0.65/share).
Core pre-provision net revenue increased 10% year-over-year to $119.5 million, driven by a 7% year-over-year rise in net interest income to $208.0 million and an expanded net interest margin of 3.50%.
Total non-interest expense rose $21.4 million quarter-over-quarter and $27.6 million year-over-year to $140.7 million, primarily due to a $17.5 million one-time loss on debt extinguishment and $3.7 million in core conversion costs.
Management reported optimism regarding future organic growth citing a $3.03 billion loan pipeline and strong asset quality, though no specific numerical forward guidance was provided.
The company successfully completed its core system conversion during the quarter, while total deposits grew 5.31% annualized to $19.81 billion and non-performing loans increased to $140.1 million (0.69% of total loans).