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Provident Financial Services (PFS) in Iselin, N.J., reported nearly flat quarterly earnings after taking a tax charge associated with its 2003 initial public offering.
October 25 -
Provident Financial Services (PFS) in Iselin, N.J., reported lower quarterly earnings as margins tightened and noninterest income fell.
April 26 -
Provident Financial Services (PFS) of Jersey City beat fourth-quarter earnings expectations as it lowered its loan-loss provision and profited from asset sales.
February 1 -
Provident Financial Services (PFS) of New Jersey is beefing up its marketing efforts with a new slogan as it tries to stand out in the rough-and-tumble New York banking market.
September 4
Provident Financial Services (PFS) of Iselin, N.J.,
With earnings per share of 30 cents, the $7.5 billion-asset company missed estimates of analysts polled by Bloomberg by less than a cent.
Provident said that its nonperforming loans declined by nearly 23% year over year, to $76.7 million, and foreclosed assets fell 56%, to $5.5 million. The decline in problem loans allowed Provident to shrink its loan-loss provision by 55% from a year earlier, to $1.8 million.
Net interest income for the fourth quarter increased less than 1% from a year earlier, to $54.7 million, as the net interest margin compressed slightly, to 3.26%.
Noninterest income was $9.8 million for the quarter, a decrease of 16.3% from the same period in 2012. Noninterest expense increased slightly to $37.5 million.
