Provident Financial Services (PFS) investor relations material

Executive summary

• Achieved record revenues for the second consecutive quarter, with net income of $72 million ($0.55 per share), reflecting strong operational performance and strategic initiatives.

• 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.

• 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.

• Focused on expanding the loan portfolio, broadening the deposit base, and improving operational efficiency, resulting in diversified growth.

• Continued investments in people, technology, and specialty verticals such as healthcare and asset-based lending to drive future growth.

Financial highlights

• Q3 2025 revenue was $222 million, with net interest income of $194.3 million and non-interest income of $27.4 million, both up sequentially and year-over-year.

• Net income of $72 million, or $0.55 per share, with return on average assets at 1.16%.

• Pre-tax, pre-provision earnings reached a record $109 million, up 9% over the prior quarter.

• Net interest margin rose to 3.43% from 3.36% in Q2 2025 and 3.31% in Q3 2024.

• Efficiency ratio improved to 51% from 53.52% in Q2 2025 and 57.20% in Q3 2024.

Outlook and guidance

• Projected net interest margin (NIM) for Q4 in the 3.38% to 3.45% range, factoring in a 25 basis point rate cut in December 2025.

• Expect core operating expenses of approximately $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.

• Anticipate continued investments in growth areas and further margin expansion over the next several quarters.