Welcome to our dedicated page for Provident Finl news (Ticker: PFS), a resource for investors and traders seeking the latest updates and insights on Provident Finl stock.
Provident Financial Services, Inc. (NYSE: PFS) is the holding company for Provident Bank, an established community-oriented bank that has been serving customers since 1839. With a strong history of service and stability, Provident Bank has grown its capabilities to rival larger regional and national banks while maintaining a commitment to personal service.
Provident Bank offers a wide range of financial products and services tailored to both individual and commercial customers. This includes personal checking and savings accounts, commercial loans, wealth management, and insurance services. Each account comes with the promise of individual attention from a Provident banker.
The company's operations are primarily concentrated in the financial services industry, offering traditional banking services along with wealth management, insurance agency income, and banking service charges. Provident Bank operates more than 80 branches throughout New Jersey and Pennsylvania, and it also provides services in Queens and Nassau Counties in New York. Customers can access services through telephone and online banking systems.
Provident Bank's recent achievements include a merger agreement with Lakeland Bancorp, Inc., which is expected to enhance the bank's scale, growth opportunities, and profitability. The merger has received regulatory approvals from the Federal Deposit Insurance Corporation, the New Jersey Department of Banking and Insurance, and the Board of Governors of the Federal Reserve System. Upon completion, the combined company will operate under the Provident name. This merger is expected to offer exceptional service to customers by leveraging the complementary strengths of both institutions.
Provident Financial Services reported assets of $14.1 billion as of September 30, 2023, and continues to focus on expanding its product offerings and improving customer service. The company provides fiduciary and wealth management services through its subsidiary, Beacon Trust Company, and insurance services through Provident Protection Plus, Inc.
For investors, Provident Financial Services conducts regular conference calls to discuss financial results and strategic developments. The next conference call is scheduled for January 26, 2024, to discuss the fourth quarter and full year financial results of 2023.
Provident Bank has bolstered its human resources team with two key appointments to enhance employee engagement and diversity initiatives. Monica Sarantidis joins as SVP, HR Business Partner, bringing over 20 years of HR management experience. Xavia Mitchell is appointed as Senior HR and Diversity Business Partner, focusing on implementing diversity strategies. Provident Bank, which reported assets of $13.13 billion as of March 31, 2021, aims to attract and retain a diverse workforce while ensuring compliance with employment regulations.
Provident Financial Services (NYSE:PFS) achieved a net income of $48.6 million or $0.63 per share for Q1 2021, up from $14.9 million or $0.23 per share in Q1 2020. The increase was supported by a negative provision for credit losses of $15.0 million, and stronger asset quality. Total assets rose to $13.13 billion, and total deposits increased by $459.7 million to $10.30 billion. The Board declared a $0.23 dividend per share payable on May 28, 2021. The company continues to focus on growth opportunities resulting from economic recovery.
Broomall, PA, April 6, 2021 - The Golf Association of Philadelphia (GAP) has announced a corporate partnership with Provident Bank, making it the Official Bank of GAP and the presenting sponsor of the 119-year-old Joseph H. Patterson Memorial Cup. Scheduled for August 4-5 at Manufacturers' Golf & Country Club, this partnership enhances GAP's services for its members while providing Provident Bank extensive marketing opportunities. Provident Bank's commitment to GAP aligns with its long-standing dedication to community service.
Provident Financial Services, Inc. (NYSE: PFS) will announce its financial results for Q1 2021 on April 30, 2021, at 8:00 a.m. ET. Investors can access the earnings release on their website. A conference call is scheduled for the same day at 10:00 a.m. ET to discuss the results. As of December 31, 2020, the company reported assets totaling $12.9 billion and operates branches in New Jersey, Pennsylvania, and New York. For additional information, visit www.Provident.Bank.
Provident Financial Services, Inc. (NYSE:PFS) reported a net income of $40.6 million or $0.53 per share for Q4 2020, up from $26.0 million or $0.40 per share in Q4 2019. For the full year, net income decreased to $97.0 million or $1.39 per share from $112.6 million or $1.74 in 2019, attributed to the COVID-19 pandemic impacts and integration costs from the SB One Bancorp acquisition. Total assets rose to $12.92 billion, reflecting a significant increase following the acquisition. The Board also authorized a new stock repurchase program covering up to 3.9 million shares.
Provident Bank has opened its eighth location in Bergen County, New Jersey, at 345 Franklin Avenue, Wyckoff. This new branch provides a modern, full-service banking experience with features such as a drive-through and extended hours. The branch is led by Maureen Cornicelli, who has over 35 years of retail banking experience. Provident Bank, a subsidiary of Provident Financial Services, Inc. (NYSE:PFS), reported assets of $12.87 billion as of September 30, 2020, and showcases a strong commitment to the local community.
Provident Financial Services, Inc. (NYSE: PFS) will release its financial results for the quarter and year ending December 31, 2020, on January 29, 2021, at 8:00 a.m. ET. The earnings release will be available on www.Provident.Bank under the Investor Relations section. An investor conference call is scheduled for the same day at 10:00 a.m. ET, with domestic and international dial-in options provided. The replay will be accessible from 12:00 p.m. on January 29 until February 12, 2021. As of September 30, 2020, the company reported assets of $12.9 billion.
Provident Bank has announced key leadership appointments following its merger with SB One Bank. Vanessa Easse is now Vice President and Director of Retail Operations, while Ana Marques takes on the role of Sales Administration Manager. Additionally, Samera Martinez, Maria Navedo, and Lisa H. Van Cleve have been appointed as Regional Managers. These changes aim to enhance operational efficiency and customer service within the bank’s retail division. As of September 30, 2020, Provident Bank reported assets of $12.87 billion and $9.56 billion in deposits.
Provident Financial Services, Inc. (NYSE:PFS) reported a net income of $27.1 million ($0.37/share) for Q3 2020, down from $31.4 million ($0.49/share) in Q3 2019. For the nine months, net income was $56.4 million ($0.84/share) versus $86.7 million ($1.34/share) last year. The SB One Bancorp acquisition boosted assets by $2.19 billion, but also introduced non-recurring charges of $2 million for Q3. Provisions for credit losses increased to $6.7 million in Q3 due to COVID-19 impacts. A quarterly dividend of $0.23/share was declared, payable on November 27, 2020.
FAQ
What is the current stock price of Provident Finl (PFS)?
What is the market cap of Provident Finl (PFS)?
What does Provident Financial Services, Inc. do?
Where does Provident Bank operate?
What recent achievements has Provident Financial Services, Inc. made?
What products and services does Provident Bank offer?
How can customers access Provident Bank's services?
What are the financial assets of Provident Financial Services, Inc.?
Who are Provident Bank's primary customers?
What is the significance of the merger with Lakeland Bancorp?
When is Provident Financial Services, Inc.'s next investor conference call?
What subsidiaries does Provident Financial Services, Inc. have?
