PROVIDENT FINANCIAL SERVICES INC Q1 FY26 Results

Summary

Provident Financial Services, Inc. reported a net income of $79.4 million, or $0.61 per share, for the first quarter of 2026. This compares to $83.4 million for the previous quarter and $64.0 million for the first quarter of 2025. The company experienced a 13.5% growth in pre-provision, net revenue, driven by net interest income and insurance agency income. The loan pipeline sits at a record $3.1 billion, and management remains optimistic about continued earnings per share growth.

Key Highlights

1. 1

   Provident Financial Services reported net income of $79.4 million, or $0.61 per basic and diluted share, for the three months ended March 31, 2026.

2. 2

   Pre-provision, net revenue grew by 13.5%, or $12.9 million, compared to the same period last year, driven by expanding net interest income and higher insurance agency income.

3. 3

   The company's loan pipeline reached a record level of $3.1 billion.

4. 4

   Insurance agency revenue increased by $1.2 million, or 21.2%, compared to the same period in 2025.

5. 5

   The net interest margin decreased four basis points to 3.40% for the quarter ended March 31, 2026, from 3.44% for the trailing quarter.

6. 6

   Common stock repurchases totaled $12.4 million, or 588,923 shares, for the three months ended March 31, 2026.