Provident Financial Services, Inc. (PFS)

PFS Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	944.3	556.24	417.65	365.07	324
Interest Income on Investments	101.84	59.59	48.53	37.27	39.31
Total Interest Income	1,046	615.82	466.18	402.34	363.31
Interest Paid on Deposits	349.52	159.46	38.7	26.51	33.59
Interest Paid on Borrowings	96	56.91	9.93	9.8	17.15
Total Interest Expense	445.52	216.37	48.63	36.32	50.74
Net Interest Income	600.61	399.45	417.55	366.02	312.57
Net Interest Income Growth (YoY)	50.36%	-4.33%	14.08%	17.10%	4.90%
Trust Income	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	-2.99	0.03	0.18	0.26	0.08
Other Non-Interest Income	66.57	52.28	59.72	52.36	45.67
Total Non-Interest Income	94.11	79.83	87.79	83.41	72.43
Non-Interest Income Growth (YoY)	17.89%	-9.07%	5.25%	15.16%	13.54%
Revenues Before Loan Losses	694.73	479.28	505.34	449.43	385
Provision for Loan Losses	87.56	27.9	8.39	-24.34	29.72
Revenue	607.16	451.38	496.95	473.77	355.28
Revenue Growth (YoY)	34.51%	-9.17%	4.89%	33.35%	1.90%
Salaries and Employee Benefits	218.34	137.7	133.46	133.4	122.88
Occupancy Expenses	45.01	18.58	21.23	32.93	27.14
Federal Deposit Insurance	12.96	8.58	5.2	6.26	3.12
Amortization of Goodwill & Intangibles	28.93	2.95	3.29	3.66	3.43
Selling, General & Administrative	40.73	52.3	54	33.68	33.16
Other Non-Interest Expense	54.71	47.66	35.54	40.13	38.01
Total Non-Interest Expense	400.68	267.77	252.72	250.05	227.73
EBT Excluding Unusual Items	206.48	183.61	244.23	223.72	127.55
Other Unusual Items	-	-	-	3.4	-
Pretax Income	149.62	175.78	240.11	227.12	127.55
Income Tax Expense	34.09	47.38	64.46	59.2	30.6
Net Income	115.53	128.4	175.65	167.92	96.95
Net Income to Common	115.53	128.4	175.65	167.92	96.95
Net Income Growth	-10.03%	-26.90%	4.60%	73.20%	-13.92%
Basic Shares Outstanding	110	75	75	76	70
Diluted Shares Outstanding	110	75	75	77	70
Shares Change (YoY)	46.53%	0.12%	-2.32%	9.96%	7.56%
EPS (Basic)	1.05	1.72	2.35	2.20	1.39
EPS (Diluted)	1.05	1.71	2.35	2.19	1.39
EPS Growth	-38.60%	-27.23%	7.31%	57.55%	-20.11%
Dividend Per Share	0.960	0.960	0.960	0.930	0.920
Dividend Growth	0%	0%	3.23%	1.09%	0%
Effective Tax Rate	22.79%	26.95%	26.85%	26.06%	23.99%

Source: S&P Capital IQ. Banks template. Financial Sources.