{"id":1014901,"date":"2026-10-28T21:01:15","date_gmt":"2026-10-29T01:01:15","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/provident-financial-services-inc-reports-third-quarter-earnings-2\/"},"modified":"2026-10-28T21:01:15","modified_gmt":"2026-10-29T01:01:15","slug":"provident-financial-services-inc-reports-third-quarter-earnings-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/provident-financial-services-inc-reports-third-quarter-earnings-2\/","title":{"rendered":"Provident Financial Services, Inc. Reports Third Quarter Earnings"},"content":{"rendered":"
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ISELIN, N.J., Oct. 28, 2026 (GLOBE NEWSWIRE) — Provident Financial Services, Inc. (NYSE: PFS) (the \u201cCompany\u201d) reported net income of $69.2 million, or $0.53 per basic and diluted share for the three months ended September 30, 2026, compared to $78.1 million, or $0.60 per basic and diluted share, for the three months ended June 30, 2026 and $71.7 million, or $0.55 per basic and diluted share, for the three months ended September 30, 2025. For the nine months ended September 30, 2026, net income totaled $226.7 million, or $1.74 per basic and diluted share, compared to $207.7 million, or $1.59 per basic and diluted share, for the nine months ended September 30, 2025. Results for the quarter were impacted by a $17.5 million one-time loss on extinguishment of debt due to the accelerated amortization of purchase accounting adjustments, core conversion related costs of $3.7 million and $465,000 of branch restructuring expenses. Excluding these expenses, core net income\u00a0(1)<\/sup> for the three and nine months ended September 30, 2026, totaled $84.3 million, or $0.65 per basic and diluted share, and $243.5 million, or $1.87 per basic and diluted share, respectively.<\/p>\n

Core pre-provision, net revenue (“PPNR”) (2) <\/sup>for the three months ended September 30, 2026 was $119.5 million, or $0.92 per basic and diluted share, for the three months ended September 30, 2026, compared to $108.7 million, or $0.83 per basic and diluted share, for the three months ended September 30, 2025.<\/p>\n

Anthony J. Labozzetta, President and Chief Executive Officer commented, \u201cWe continued our strong performance, delivering another quarter of solid financial results including record revenues. Building momentum in both our spread and fee-based businesses drove 10% year-over-year growth in our pre-provision net revenue, while core deposits grew nearly 6% annualized. During the quarter, we successfully completed our previously-announced core conversion, while also maintaining an adjusted efficiency ratio below 50%. Our robust loan pipeline and strong asset quality leave me optimistic that we will keep driving profitable organic growth going forward.”<\/p>\n

\n Key Points for the <\/strong>
\n Third Quarter<\/strong>\n <\/p>\n