Provident Financial Services, Inc. (PFS)

PFS Income Statement

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

Year Ending	TTM	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	663.44	556.24	417.65	365.07	324	324.48
Interest Income on Investments	70.6	59.59	48.53	37.27	39.31	46.99
Total Interest Income	734.04	615.82	466.18	402.34	363.31	371.47
Interest Paid on Deposits	229.09	159.46	38.7	26.51	33.59	45.49
Interest Paid on Borrowings	77.74	56.91	9.93	9.8	17.15	28
Total Interest Expense	306.84	216.37	48.63	36.32	50.74	73.5
Net Interest Income	427.2	399.45	417.55	366.02	312.57	297.97
Net Interest Income Growth (YoY)	-0.88%	-4.33%	14.08%	17.10%	4.90%	-0.90%
Trust Income	29.09	27.67	27.87	30.76	25.73	22.5
Gain (Loss) on Sale of Assets	-0.15	-0.15	0.02	0.04	0.95	-
Gain (Loss) on Sale of Investments	-2.97	0.03	0.18	0.26	0.08	0.07
Other Non-Interest Income	55.4	52.28	59.72	52.36	45.67	41.22
Total Non-Interest Income	81.37	79.83	87.79	83.41	72.43	63.79
Non-Interest Income Growth (YoY)	-7.80%	-9.07%	5.25%	15.16%	13.54%	8.72%
Revenues Before Loan Losses	508.57	479.28	505.34	449.43	385	361.77
Provision for Loan Losses	80.8	27.9	8.39	-24.34	29.72	13.1
Revenue	427.77	451.38	496.95	473.77	355.28	348.67
Revenue Growth (YoY)	-12.88%	-9.17%	4.89%	33.35%	1.90%	3.88%
Salaries and Employee Benefits	158.61	137.7	133.46	133.4	122.88	105.46
Federal Deposit Insurance	9.89	8.58	5.2	6.26	3.12	1.32
Amortization of Goodwill & Intangibles	8.63	2.95	3.29	3.66	3.43	2.74
Selling, General & Administrative	55.84	52.3	54	33.68	33.16	32.34
Other Non-Interest Expense	48.22	47.66	35.54	40.13	38.01	33.83
Total Non-Interest Expense	303.08	267.77	252.72	250.05	227.73	201.58
EBT Excluding Unusual Items	124.69	183.61	244.23	223.72	127.55	147.09
Other Unusual Items	-	-	-	3.4	-	-
Pretax Income	98.81	175.78	240.11	227.12	127.55	147.09
Income Tax Expense	22.35	47.38	64.46	59.2	30.6	34.46
Earnings From Continuing Operations	76.46	128.4	175.65	167.92	96.95	112.63
Net Income to Common	76.46	128.4	175.65	167.92	96.95	112.63
Basic Shares Outstanding	82	75	75	76	70	65
Diluted Shares Outstanding	82	75	75	77	70	65
Shares Change (YoY)	10.00%	0.12%	-2.32%	9.96%	7.56%	-0.57%
EPS (Basic)	0.93	1.72	2.35	2.20	1.39	1.74
EPS (Diluted)	0.93	1.71	2.35	2.19	1.39	1.74
EPS Growth	-58.08%	-27.23%	7.31%	57.55%	-20.11%	-4.40%
Effective Tax Rate	22.62%	26.95%	26.85%	26.06%	23.99%	23.42%
Dividend Per Share	0.480	0.960	0.960	0.930	0.920	0.920
Dividend Growth	-50.00%	0%	3.23%	1.09%	0%	12.20%

Source: S&P Capital IQ. Banks template.