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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 (PFS) announced four senior hires for Beacon Trust, its full-service wealth management subsidiary, on March 31, 2026. The additions—three Wealth Management Relationship Managers and one Business Development Officer—are intended to expand advisory capacity, deepen relationships with high-net-worth clients, and accelerate regional growth.
Provident Financial Services (NYSE: PFS) today named Michael A. Perito Head of Investor Relations, effective immediately, while he continues as Senior Vice President and Head of Corporate Strategy at Provident Bank.
Perito joined Provident in 2025, brings nearly 15 years of banking and equity research experience, and previously served as Managing Director, Equity Research for Banks and Financial Technology at Keefe, Bruyette & Woods.
Provident Bank (NYSE:PFS) appointed Joseph A. Tammaro, Jr. as Executive Vice President, Head of Middle Market Lending, effective following a transition that concludes when Wm. J. Ruckert, III retires on April 1, 2026. Tammaro brings over two decades of commercial banking leadership and led teams serving customers with revenues up to $2 billion. He will report to Bill Fink and lead business development, portfolio performance, credit quality, and cross‑product client solutions for middle market customers.
Provident Financial Services (NYSE: PFS) reported strong 2025 Q4 results on January 29, 2026, with record quarterly revenue of $225.7M, driven by record net interest income of $197.4M and record noninterest income of $28.3M.
Net income rose to $83.4M (EPS $0.64), producing a 1.34% ROAA; reported net interest margin was 3.44% (up 1bp q/q) and core NIM expanded 7bps to 3.01%.
Provident Financial Services (NYSE:PFS) declared a quarterly cash dividend of $0.24 per common share. The dividend is payable on February 27, 2026 to stockholders of record as of the close of business on February 13, 2026.
Provident Financial Services (NYSE: PFS) reported net income of $83.4M for Q4 2025 and $291.2M for full-year 2025, versus $48.5M and $115.5M in the comparable periods in 2024. The company delivered a third consecutive quarter of record revenue of $225.7M, record net interest income of $197.4M, and non-interest income of $28.3M.
Key balance-sheet items: total commercial loans of $16.93B, deposits of $19.28B, a loan pipeline of $2.74B, allowance for credit losses at 0.95%, and tangible book value per share of $15.70. Annual meeting set for May 21, 2026 (record date March 27, 2026).
Provident Bank (NYSE:PFS) announced on January 27, 2026 that it awarded an additional $50,000 in grants to five non-profit organizations through the Federal Home Loan Bank of New York Small Business Recovery Grant (SBRG) Program.
The SBRG Program permits members to award up to $10,000 per qualifying small business or non-profit affected by the rate environment, inflation, supply-chain constraints, or rising energy costs. Provident said the awards are intended to help local non-profits continue delivering essential programs and services.
Grant recipients (each $10,000):
- Community Food Bank of New Jersey
- East Trenton Collaborative
- Mercer Street Friends
- Oasis
- Rescue Mission of Trenton
Provident Financial Services (NYSE: PFS) announced on Jan 26, 2026 that its Board authorized a tenth stock repurchase program to begin after the company completes its existing program, which has 814,247 shares remaining. Together, the remaining and new authorization allow repurchase of up to 2.15% of outstanding shares (~2.81 million shares). The program has no expiration date and permits open market purchases, negotiated transactions, block trades, or Rule 10b5-1 plans. Repurchase timing and amount will depend on market conditions, capital levels, and regulatory considerations.
Provident Bank (NYSE:PFS) announced that Thomas M. Lyons, Senior Executive Vice President and Chief Financial Officer, plans to retire effective upon the earlier of June 30, 2026 or the appointment of his successor.
Mr. Lyons will remain in his CFO roles until a successor is named and then serve in an advisory capacity to support the transition. The company has launched a nationwide search and engaged an executive search firm. Lyons has been CFO since 2011, joined via a 2004 merger that helped grow assets from $6 billion at that time to nearly $25 billion today.
Provident Bank (NYSE:PFS) announced that employees raised $80,000 through its 2025 "We Wear Jeans for a Cause" program and awarded grants to five local nonprofits on Jan. 13, 2026. Funds were distributed across NY, NJ, and PA: Queens Community House $10,000, Isles, Inc. $20,000, PRAHD $20,000, New Bethany $15,000, and Rising Tide Community Loan Fund $15,000. The grants support affordable housing, soup kitchen operations, and small business lending to strengthen community stability and economic growth. Provident credited employee contributions for enabling expanded local impact and thanked team members for their support.