Provident Financial Services, Inc. (FRA:PQ3)

Avangrid Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	1,128	944.3	556.24	417.65	365.07	324
Interest Income on Investments	127.97	101.84	59.59	48.53	37.27	39.31
Total Interest Income	1,256	1,046	615.82	466.18	402.34	363.31
Interest Paid on Deposits	409.61	349.52	159.46	38.7	26.51	33.59
Interest Paid on Borrowings	112.25	96	56.91	9.93	9.8	17.15
Total Interest Expense	521.86	445.52	216.37	48.63	36.32	50.74
Net Interest Income	734.26	600.61	399.45	417.55	366.02	312.57
Net Interest Income Growth (YoY)	71.88%	50.36%	-4.33%	14.08%	17.10%	4.90%
Trust Income	29.55	30.53	27.67	27.87	30.76	25.73
Gain (Loss) on Sale of Assets	-	-	-0.15	0.02	0.04	0.95
Gain (Loss) on Sale of Investments	0.08	-2.99	0.03	0.18	0.26	0.08
Other Non-Interest Income	75.51	66.57	52.28	59.72	52.36	45.67
Total Non-Interest Income	105.14	94.11	79.83	87.79	83.41	72.43
Non-Interest Income Growth (YoY)	29.21%	17.89%	-9.07%	5.25%	15.16%	13.54%
Revenues Before Loan Losses	839.4	694.73	479.28	505.34	449.43	385
Provision for Loan Losses	15.93	87.56	28.17	5	-24.34	29.72
Revenue	823.47	607.16	451.12	500.34	473.77	355.28
Revenue Growth (YoY)	92.62%	34.59%	-9.84%	5.61%	33.35%	1.90%
Salaries and Employee Benefits	236.83	206.15	137.7	133.46	133.4	122.88
Occupancy Expenses	36.15	28.87	18.58	34.57	32.93	27.14
Federal Deposit Insurance	14.32	12.96	8.58	5.2	6.26	3.12
Amortization of Goodwill & Intangibles	40.74	28.93	2.95	3.29	3.66	3.43
Selling, General & Administrative	73.4	69.07	52.3	40.67	33.68	33.16
Other Non-Interest Expense	64.03	54.71	47.4	38.93	40.13	38.01
Total Non-Interest Expense	465.46	400.68	267.51	256.1	250.05	227.73
EBT Excluding Unusual Items	358.01	206.48	183.61	244.23	223.72	127.55
Other Unusual Items	-	-	-	-	3.4	-
Pretax Income	322.26	149.62	175.78	240.11	227.12	127.55
Income Tax Expense	91.32	34.09	47.38	64.46	59.2	30.6
Net Income	230.94	115.53	128.4	175.65	167.92	96.95
Net Income to Common	230.94	115.53	128.4	175.65	167.92	96.95
Net Income Growth	202.05%	-10.03%	-26.90%	4.60%	73.20%	-13.92%
Basic Shares Outstanding	130	110	75	75	76	70
Diluted Shares Outstanding	130	110	75	75	77	70
Shares Change (YoY)	58.90%	46.53%	0.12%	-2.32%	9.96%	7.56%
EPS (Basic)	1.77	1.05	1.72	2.35	2.20	1.39
EPS (Diluted)	1.77	1.05	1.71	2.35	2.19	1.39
EPS Growth	89.58%	-38.60%	-27.23%	7.31%	57.55%	-20.11%
Dividend Per Share	0.960	0.960	0.960	0.960	0.930	0.920
Dividend Growth	-	-	-	3.23%	1.09%	-
Effective Tax Rate	28.34%	22.79%	26.96%	26.85%	26.06%	23.99%

Source: S&P Global Market Intelligence. Banks template. Financial Sources.