PROVIDENT FINANCIAL SERVICES INC

Provident Financial Services, Inc. announced the appointment of Adriano Duarte as Executive Vice President and Chief Financial Officer, effective July 1, 2026. Mr. Duarte, who previously served as EVP and Chief Accounting Officer, will continue in his CAO role and lead all financial aspects of the company. He succeeds Thomas Lyons, who retired. Additionally, James P. Dunigan retired from the company's Board of Directors on June 18, 2026.

Provident Bank announced it has awarded $1 million in funding to ten non-profit organizations through the New Jersey Department of Community Affairs' Neighborhood Revitalization Tax Credit (NRTC) Program for fiscal year 2026. This funding will enable the non-profits to implement revitalization plans focused on housing, economic development, job training, and complementary activities in various New Jersey neighborhoods. The bank emphasized its commitment to strengthening communities and expanding economic opportunities across the markets it serves.

Provident Bank announced the appointment of Annamaria Vitelli as Executive Vice President, Chief Wealth Officer of Provident Bank and President of Beacon Trust, effective immediately. In her new role, Ms. Vitelli will lead the strategic direction and growth of the bank's wealth management business, including investment management, trust, and fiduciary services, and will serve as a member of the Executive Leadership Team. Ms. Vitelli joined Beacon Trust in September 2025 as Executive Vice President and Chief Growth Officer, bringing over two decades of experience in wealth management, private banking, trust, and estate planning.

Provident Financial Services, Inc. has amended and restated agreements with Christopher Martin, Executive Chairman of the Board. Both the Executive Chairman Agreement and the Change in Control Agreement have been extended to expire on May 21, 2028. Key changes include Mr. Martin serving as a Director Emeritus for three years after his term or termination, and a revised change in control severance calculation based on the remaining term and average annual compensation, along with continued insurance coverage.

Provident Financial Services Inc. held its 2026 Annual Meeting of Stockholders on May 21, 2026, with 84.78% of eligible shares participating. Stockholders elected four directors—Brian A. Gragnolati, Edward J. Leppert, Nadine Leslie, and Thomas J. Shara—each for a three-year term. Additionally, an advisory vote to approve the compensation of named executive officers passed, and the appointment of KPMG LLP as the independent public accounting firm for 2026 was ratified.

Provident Bank's 2026 Consumer Survey reveals that American households are under significant financial pressure due to persistent inflation and elevated interest rates, with 64% concerned about the cost of living. Consumers are adapting by reassessing spending, paying down debt faster, and delaying major purchases like homes. The survey also highlights a significant gap in access to helpful financial guidance, with 58% rating financial literacy as essential but only 29% finding their bank's offerings genuinely helpful.

Provident Financial Services Inc. reported a significant increase in net income and EPS for Q1 2026, driven by higher net interest income and a recapture of credit loss provisions. Total assets and loans held for investment grew, but deposits decreased. The company also noted a substantial rise in non-accrual loans, primarily due to four commercial loans on senior housing properties.

Provident Financial Services, Inc. announced that its Board of Directors has declared a quarterly cash dividend of $0.24 per common share. The dividend is scheduled to be paid on May 29, 2026, to stockholders who are on record as of the close of business on May 15, 2026.

Provident Financial Services, Inc. reported net income of $79.4 million, or $0.61 per diluted share, for Q1 2026, an increase from $64.0 million, or $0.49 per diluted share, in Q1 2025. The company saw pre-provision, net revenue growth of 13.5% year-over-year, driven by expanding net interest income and higher insurance agency income. However, non-performing loans significantly increased to $142.9 million, primarily due to four commercial loans on senior housing properties totaling $82.1 million related to bankruptcy filings.

Provident Financial Services, Inc. reported Q1 2026 diluted EPS of $0.61, with ROAA at 1.29% and ROATCE at 16.58%. The company achieved a 13.5% year-over-year PPNR growth, leading to a 1.75% PPNR ROAA, and saw net interest income increase by 7%. Strong loan growth continued, with total commercial loans up 3.9% annualized and a record loan pipeline of $3.11 billion. The company also provided 2026 guidance, projecting 4-6% annualized loan and deposit growth and a net interest margin of 3.40% to 3.45%.