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Provident Financial Services (PFS) investor relations material
Provident Financial Services Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary30 Oct, 2025
Executive summary
Net income for Q3 2025 was $71.7 million ($0.55 per share), flat sequentially but up from $46.4 million ($0.36 per share) year-over-year, with a return on average assets of 1.16% and adjusted return on average tangible equity of 16.01%.
Nine-month net income reached $207.7 million ($1.59 per share), a significant increase from $67.0 million ($0.65 per share) in the prior year period, reflecting the absence of prior year merger-related costs.
Achieved record pre-tax, pre-provision revenues of nearly $109 million, up 9% over the prior quarter and 1.76% of average assets, reflecting improved profitability and operational efficiency.
Loan portfolio and pipeline expanded, with commercial lending production reaching $742 million in the quarter and a year-to-date total of $2.1 billion.
Deposits increased by $388 million (8% annualized), primarily driven by core deposits.
Financial highlights
Q3 2025 revenue was $221.8 million, with net interest income at $194.3 million and non-interest income at $27.4 million, both up sequentially and year-over-year.
Net interest margin increased 7 basis points to 3.43% versus the prior quarter and up from 3.31% in Q3 2024.
Average earning assets grew by $163 million (3% annualized), and average yield on assets rose to 5.76%.
Non-interest expenses were $113 million, with an efficiency ratio of 51.01%, improved from 53.52% in Q2 2025 and 57.20% in Q3 2024.
Tangible book value per share increased to $15.13; tangible common equity ratio improved to 8.22%.
Outlook and guidance
Projected net interest margin for Q4 in the 3.38%-3.45% range, factoring in a 25 basis point rate cut in December 2025.
Expect core operating expenses to remain around $113 million for the final quarter of 2025.
Management expects continued growth in earning assets and deposits, ongoing investments in talent and technology, and sustained profitability.
Management expects to maintain strong liquidity and capital positions, with sufficient cash to meet funding requirements and a focus on core deposit growth.
Interest rate risk is managed to remain relatively neutral; a 200 basis point rate increase is projected to decrease net interest income by 0.7%.
Specialty lending's impact on loan mix
Beacon Trust growth strategy and talent plans?
Capital deployment priorities beyond organic growth?
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Next Provident Financial Services earnings date
Q4 202528 Jan, 2026
Next Provident Financial Services earnings date
Q4 202528 Jan, 2026
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Frequently asked questions
Provident Financial Services Inc. is a bank holding company that operates through its subsidiary, Provident Bank, providing a range of financial products and services to individuals, businesses, and nonprofit organizations. The company offers personal and commercial banking solutions, including deposit accounts, mortgages, business loans, cash management, and wealth management services. The company is headquartered in Iselin, New Jersey, and its shares are listed on the NYSE.
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