| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 19.65 | 4.7% | 7.5% |
| Total Income | 19.65 | 4.7% | 7.5% |
| Expenditure | -86.42 | 3.5% | 2.7% |
| PBT | 106.06 | 3.7% | 3.5% |
| Net Profit | 78.15 | 1.6% | 8.6% |
| OPM | — | ||
| NPM | 100.00% | 0.00pp | 0.00pp |
| EPS | 0.60 | 1.6% | 9.1% |
Provident Financial Services Reports Q2 2026 Earnings
30 Jul 2026 · 30 Jul, 9:17 pm
Summary
Provident Financial Services, Inc. reported net income of $78.1 million, or $0.60 per share, for the second quarter of 2026, an increase from $71.98 million, or $0.55 per share, in the second quarter of 2025. For the first half of 2026, net income was $157.6 million, or $1.21 per share, up from $136.0 million, or $1.04 per share, in the first half of 2025. The company achieved record pre-provision net revenue of $117.8 million in Q2 2026, driven by strong commercial loan production, an expanding core margin, and increasing non-interest income. Management expressed optimism about continued organic growth and achieving top quartile risk-adjusted returns.
Key Highlights
- 1
For the three months ended June 30, 2026, net income was $78.1 million, or $0.60 per share, compared to $71.98 million, or $0.55 per share, in the prior year quarter.
- 2
For the six months ended June 30, 2026, net income totaled $157.6 million, or $1.21 per share, compared to $136.0 million, or $1.04 per share, for the same period in 2025.
- 3
Core pre-provision, net revenue (PPNR) for the second quarter of 2026 was $117.8 million, an increase of $18.2 million from the prior year quarter.
- 4
Total commercial loans increased 9.9% annualized for the quarter, with a record pipeline totaling $3.17 billion as of June 30, 2026.
- 5
Tangible book value per share grew 12% year over year to $16.42 as of June 30, 2026.
- 6
Net interest margin for the second quarter of 2026 was 3.48%, up from 3.36% in the prior year quarter.
Management Comments
Anthony J. Labozzetta
Through 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’m optimistic that we will continue to drive organic growth with an unchanged commitment to achieving top quartile risk-adjusted returns.
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