Provident Finl Stock Price, News & Analysis

Provident Bank, a prominent financial institution based in New Jersey, recently hosted the Helping Entrepreneurs Rise (H.E.R.) Conference focused on empowering women in business.

The event, held on April 26, 2023, in Iselin, NJ, aimed to tackle key issues affecting marginalized populations, such as economic barriers and limited access to business networks. It provided resources for women and minority business owners through financial literacy and education.

The conference featured insights from multiple chambers of commerce and was attended by inspiring female leaders and entrepreneurs. Provident Bank's commitment to diversity and inclusion was emphasized, with initiatives to reduce economic barriers through education and networking opportunities.

As of December 31, 2022, Provident Bank reported assets of $13.80 billion, with deposits amounting to $10.60 billion.

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.

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.