Provident Financial Services, Inc. (PFS)

PFS 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	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	1,069	944.3	556.24	417.65	365.07	324
Interest Income on Investments	118.38	101.84	59.59	48.53	37.27	39.31
Total Interest Income	1,188	1,046	615.82	466.18	402.34	363.31
Interest Paid on Deposits	394.41	349.52	159.46	38.7	26.51	33.59
Interest Paid on Borrowings	104.54	96	56.91	9.93	9.8	17.15
Total Interest Expense	498.95	445.52	216.37	48.63	36.32	50.74
Net Interest Income	688.67	600.61	399.45	417.55	366.02	312.57
Net Interest Income Growth (YoY)	78.97%	50.36%	-4.33%	14.08%	17.10%	4.90%
Trust Income	30.37	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	-2.9	-2.99	0.03	0.18	0.26	0.08
Other Non-Interest Income	72.86	66.57	52.28	59.72	52.36	45.67
Total Non-Interest Income	100.34	94.11	79.83	87.79	83.41	72.43
Non-Interest Income Growth (YoY)	27.84%	17.89%	-9.07%	5.25%	15.16%	13.54%
Revenues Before Loan Losses	789.01	694.73	479.28	505.34	449.43	385
Provision for Loan Losses	88.52	87.56	28.17	5	-24.34	29.72
Revenue	700.49	607.16	451.12	500.34	473.77	355.28
Revenue Growth (YoY)	58.77%	34.59%	-9.84%	5.61%	33.35%	1.90%
Salaries and Employee Benefits	228.46	206.15	137.7	133.46	133.4	122.88
Occupancy Expenses	34.28	28.87	18.58	34.57	32.93	27.14
Federal Deposit Insurance	14.08	12.96	8.58	5.2	6.26	3.12
Amortization of Goodwill & Intangibles	37.73	28.93	2.95	3.29	3.66	3.43
Selling, General & Administrative	71.98	69.07	52.3	40.67	33.68	33.16
Other Non-Interest Expense	60.8	54.71	47.4	38.93	40.13	38.01
Total Non-Interest Expense	447.32	400.68	267.51	256.1	250.05	227.73
EBT Excluding Unusual Items	253.16	206.48	183.61	244.23	223.72	127.55
Other Unusual Items	-	-	-	-	3.4	-
Pretax Income	198.5	149.62	175.78	240.11	227.12	127.55
Income Tax Expense	51.03	34.09	47.38	64.46	59.2	30.6
Net Income	147.47	115.53	128.4	175.65	167.92	96.95
Net Income to Common	147.47	115.53	128.4	175.65	167.92	96.95
Net Income Growth	22.95%	-10.03%	-26.90%	4.60%	73.20%	-13.92%
Basic Shares Outstanding	123	110	75	75	76	70
Diluted Shares Outstanding	123	110	75	75	77	70
Shares Change (YoY)	64.62%	46.53%	0.12%	-2.32%	9.96%	7.56%
EPS (Basic)	1.19	1.05	1.72	2.35	2.20	1.39
EPS (Diluted)	1.19	1.05	1.71	2.35	2.19	1.39
EPS Growth	-25.71%	-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	25.71%	22.79%	26.96%	26.85%	26.06%	23.99%

Updated Apr 24, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q