Provident Financial Services, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 05:00 pm EDT
Share
Provident Financial Services, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 96.24 million compared to USD 109.49 million a year ago. Net income was USD 28.55 million compared to USD 43.42 million a year ago. Basic earnings per share from continuing operations was USD 0.38 compared to USD 0.58 a year ago. Diluted earnings per share from continuing operations was USD 0.38 compared to USD 0.58 a year ago.
For the nine months, net interest income was USD 303.67 million compared to USD 303.49 million a year ago. Net income was USD 101.09 million compared to USD 126.61 million a year ago. Basic earnings per share from continuing operations was USD 1.35 compared to USD 1.69 a year ago. Diluted earnings per share from continuing operations was USD 1.35 compared to USD 1.69 a year ago.
Provident Financial Services, Inc. is a holding company for The Provident Bank (the Bank). The Bank is a New Jersey-chartered capital stock savings bank operating full-service branch offices throughout northern and central New Jersey, Bucks, Lehigh and Northampton counties in Pennsylvania, as well as Queens and Nassau Counties in New York. The Bank provides a range of financial products and services through its network of branches. The Bank originates commercial real estate loans, commercial business loans, fixed-rate and adjustable-rate mortgage loans collateralized by one-to four-family residential real estate and other consumer loans, for borrowers generally located within its primary market area. The Bank invests in mortgage-backed securities and other permissible investments. It provides fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust Company, and insurance brokerage services through its subsidiary, Provident Protection Plus, Inc.