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Provident Financial Services, Inc. reports developments tied to its role as the holding company for Provident Bank, a community-focused financial institution serving New Jersey, eastern Pennsylvania, and parts of New York. The bank provides commercial and consumer banking, digital banking, branch-based services, fiduciary and wealth management services through Beacon Trust Company, and insurance services through Provident Protection Plus, Inc.
Recurring news includes quarterly earnings, net interest income, loan and deposit trends, credit quality, noninterest revenue, and capital returns through common-stock dividends. Company updates also cover middle market and asset-based lending activity, wealth management staffing and advisory capabilities, investor relations, and other operating changes across the banking, wealth, and insurance businesses.
Provident Bank announces the donation of a former branch to New City Kids, a non-profit organization in Jersey City focusing on youth development. The 5,472 square foot facility at 533 Bergen Avenue will serve as the New City Kids Rubingh Center for Youth Development, marking the organization’s fourth location in Jersey City. In addition to the building, The Provident Bank Foundation commits $100,000 over four years for upgrades and operational support. This initiative reaffirms Provident Bank's commitment to community service since its founding in 1839.
Provident Financial Services (NYSE: PFS) is set to announce its financial results for Q1 2023 on April 27, 2023, after market close. Investors can access the earnings release on the company's website. A conference call to discuss the results will occur on April 28, 2023, at 10:00 a.m. ET, with several access options available. Provident reported total assets of $13.8 billion as of December 31, 2022, and operates a network of branches in New Jersey, Pennsylvania, and New York. The company also offers fiduciary and wealth management services through its subsidiary, Beacon Trust Company.
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Provident Bank has announced the promotion of two key team members: Vanessa Easse to Senior Vice President and Robert Tharp to Senior Vice President. Easse, with over 20 years in retail banking, will lead retail operations, enhancing customer experience. Tharp brings over 35 years of experience, responsible for the bank's retail sales strategy. Both promotions are aimed at supporting the bank's strategy for growth and exemplary customer service, according to Executive Vice President Vito Giannola. Provident Financial Services, Inc. (NYSE:PFS) reported $13.80 billion in assets as of December 31, 2022.
Provident Financial Services and Lakeland Bancorp have announced that both companies received shareholder approvals for their merger. This merger aims to enhance their market positions and operational efficiencies. However, the completion of the merger is still subject to regulatory approvals and customary closing conditions. The strategic significance of this merger is underscored by expected synergies and the anticipated benefits in terms of increased asset quality and capital levels. This collaboration may provide expanded services to customers across New Jersey and beyond.
Provident Financial Services, Inc. (NYSE:PFS) reported a net income of $49.0 million or $0.66 per share for Q4 2022, a rise from $43.4 million or $0.58 in Q3 2022 and $37.3 million or $0.49 a year ago. For the full year 2022, net income reached $175.6 million, up from $167.9 million in 2021. The board declared a $0.24 quarterly dividend payable on February 24, 2023. Key growth metrics included a 9.7% annualized increase in commercial loans and record net interest income of $114.1 million, driven by a net interest margin expansion to 3.62%. The company continues to pursue its merger with Lakeland Bancorp, with expected stockholder and regulatory approvals.
Provident Bank announces the appointment of Scott Hurlbert as the new Senior Vice President, Digital Channels Director. Based in Iselin, N.J., Hurlbert will oversee all digital banking operations, including ATMs and mobile platforms, aiming to enhance customer experience. With over 20 years in banking technology, he previously worked at People’s United Bank, where he developed leading digital solutions. Provident Bank, a subsidiary of Provident Financial Services (NYSE:PFS), reported assets of $13.60 billion and $10.69 billion in deposits as of September 30, 2022, providing various financial services across New Jersey and parts of Pennsylvania and New York.
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Provident Financial Services (NYSE: PFS) will announce its financial results for Q4 and the fiscal year ended December 31, 2022, on January 27, 2023, at 8:00 a.m. (ET). The earnings release will be accessible on the company's website. A conference call to discuss results will occur at 10:00 a.m. (ET) the same day, with various access numbers provided for U.S. and international participants. As of September 30, 2022, Provident Financial reported assets of $13.6 billion, operating in New Jersey, Pennsylvania, and New York.
Provident Bank has been awarded the DEI Trailblazer Award as an Emerging DEI Influencer by the African American Chamber of Commerce of New Jersey and the New Jersey Chamber of Commerce. This recognition highlights the bank's commitment to Diversity, Equity, and Inclusion in its workplace practices. Awarded during the inaugural DEI Trailblazer Awards reception, the honor acknowledges companies demonstrating substantial progress in DEI initiatives. Provident Bank reported assets totaling $13.60 billion as of September 30, 2022, with deposits amounting to $10.69 billion.