{"id":986824,"date":"2026-07-29T19:50:04","date_gmt":"2026-07-29T23:50:04","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/provident-financial-services-inc-reports-second-quarter-earnings\/"},"modified":"2026-07-29T19:50:04","modified_gmt":"2026-07-29T23:50:04","slug":"provident-financial-services-inc-reports-second-quarter-earnings","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/provident-financial-services-inc-reports-second-quarter-earnings\/","title":{"rendered":"Provident Financial Services, Inc. Reports Second Quarter Earnings\u00a0"},"content":{"rendered":"
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ISELIN, N.J., July 29, 2026 (GLOBE NEWSWIRE) — Provident Financial Services, Inc. (NYSE:PFS) (the \u201cCompany\u201d) reported net income of $78.1 million, or $0.60 per basic and diluted share for the three months ended June 30, 2026, compared to $79.4 million, or $0.61 per basic and diluted share, for the three months ended March 31, 2026 and $72.0 million, or $0.55 per basic and diluted share, for the three months ended June 30, 2025. For the six months ended June 30, 2026, net income totaled $157.6 million, or $1.21 per basic and diluted share, compared to $136.0 million, or $1.04 per basic and diluted share, for the six months ended June 30, 2025. For the three and six months ended June 30, 2026, core net income\u00a0(1)<\/sup>, which has been adjusted for one-time core system conversion and executive severance expenses, totaled $79.9 million, or $0.61 per basic and diluted share and $159.3 million, or $1.22 per basic and diluted share, respectively.<\/p>\n

Core pre-provision, net revenue (“PPNR”) (2) <\/sup>for the three months ended June 30, 2026 was $117.8 million, or $0.90 per basic and diluted share for the three months ended June 30, 2026, compared to $99.6 million, or $0.76 per basic and diluted share, for the three months ended June 30, 2025. Increases in both net income and core PPNR were driven primarily by expanding net interest income and higher non-interest income, including higher wealth management and insurance agency income.\u00a0<\/p>\n

Anthony J. Labozzetta, President and Chief Executive Officer commented, \u201cThrough the first half of 2026, Provident has grown earnings per share 17% year-over-year while also significantly improving our profitability and building capital. We achieved record pre-provision net revenue during the second quarter, driven by strong commercial loan production, expanding core margin and increasing contribution from non-interest income, which represented nearly 14% of total revenues. We are proud of the noticeable momentum of our organization, and I\u2019m optimistic that we will continue to drive organic growth with an unchanged commitment to achieving top quartile risk-adjusted returns.”<\/p>\n

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