Provident Financial Services, Inc · NYSE:PFS
Provident Financial Services — Q3 2026 Earnings Presentation
29 slides from Provident Financial Services's earnings presentation, Oct 29, 2026
Slide 1: Results Presentation
= Provident Financial Services, Inc. RESULTS PRESENTATION
Slide 2: Forward Looking Statements
Forward Looking Statements Certain statements contained herein are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such
Slide 3: Provident Bank; Building a Premier Banking Franchise
Provident Bank; Building a Premier Banking Franchise Company Overview Geographic Overview • Founded in 1839, longest tenured bank headquartered in New Jersey • 135 branches serving New Jersey, eastern Pennsylvania, and Orange, Queens, and Nassau Counties, New York • Full-service commercial & consume
Slide 4: Q3 2026 Core Financial Highlights
Q3 2026 Core Financial Highlights Key Metrics Highlights Expanding profitability metrics year-over-year, achieving a 1.30% core ROAA and 16.57% core $0.65 ROATCE. Core Diluted EPS PPNR growth of $10.8 million, or 10.0% compared to the prior year quarter, resulting in a 1.85% core PPNR ROAA which exp
Slide 5: Expanding Core Net Interest Margin
Expanding Core Net Interest Margin Net Interest Income ($mm) and Core Margin • Net interest income growth of 7% year-over-year benefited 3.48% 3.50% from higher net interest margin and earning assets. 3.43% 3.44% 3.40% 3.60% $202 3.16% 3.40% • Favorable repricing of maturing loans contributed to cor
Slide 6: Sustained, Diverse Loan Growth
Sustained, Diverse Loan Growth EOP HFI Loans– YoY QoQ $ Annualized % ($ in millions) 3Q26 2Q26 Growth Growth Pipeline vs Originations C&I loans $ 5,237 $ 5,251 $ (14) -1.06% ($ in millions) CRE loans 7,605 7,502 103 5.45% 3,500 3,115 3,173 Construction loans 695 639 56 34.77% 3,030 3,000 2,870 2,745
Slide 7: Granular and Relationship Focused Funding Model
Granular and Relationship Focused Funding Model EOP Deposits by Product– YoY QoQ $ Annualized ($ in millions) 3Q26 2Q26 Growth % Growth Average Total Client Deposit Mix Non-interest bearing $ 3,831 $ 3,777 $ 54 5.68% 100% 4% 6% 4% 5% 8% Interest bearing core 8,187 8,146 41 1.98% 90% 14% 14% 14% 14%
Slide 8: Emphasis on Growing Fee Income
Emphasis on Growing Fee Income QTD QoQ $ QoQ $ ($ in thousands) 3Q26 2Q26 3Q25 Growth Growth Fees $ 10,286 $ 12,259 $ (1,973) $ 11,336 $ (1,050) Wealth management 7,825 7,517 308 7,349 476 Insurance 4,737 5,672 (935) 3,934 803 Bank-owned life insurance 6,479 3,798 2,681 2,662 3,817 Other income 662
Slide 9: Focus on Sustained Positive Operating Leverage
Focus on Sustained Positive Operating Leverage Non-interest expense ($ in thousands) 3Q25 4Q25 1Q26 2Q26 3Q26 Compensation and employee benefits $ 63,202 $ 64,316 $ 66,196 $ 67,289 $ 67,958 Net occupancy expense 12,773 13,078 14,985 12,464 13,160 Data processing expense 9,102 9,110 9,646 9,388 10,36
Slide 10: Maintaining Strong Balance Sheet
Maintaining Strong Balance Sheet • Stable insured deposit base, brokered deposits only 6.1% of total deposits as • Strong regulatory capital ratios at bank and holding company, of September 30, 2026 comfortably above well-capitalized ratios • Total insured and collateralized deposits as of 09/30/26,
Slide 11: Managing CRE Concentration Lower
Managing CRE Concentration Lower ($ in thousands) Managing CRE Concentration $14,000 433.4% 432.2% $12,000 428.6% 427.8% 425.5% $10,000 Land CRE $8,000 Multifamily Construction & Land Development $6,000 403.0% Construction 1-4 399.5% 399.7% 399.4% CRE Concentration Ratio 398.5% Adj. CRE Concentratio
Slide 12: Consistently Strong Credit Metrics
Consistently Strong Credit Metrics 3Q25 4Q25 1Q26 2Q26 3Q26 0.97% 0.95% 0.94% Total allowance to total loans 0.90% 0.92% Total non-performing loans to 0.73% 0.68% 0.69% total loans 0.52% 0.40% Total non-performing assets as a 0.58% 0.54% 0.55% percentage of total assets 0.41% 0.32% 0.11% 0.09% Net c
Slide 13: Favorable Core Performance Trends
Favorable Core Performance Trends (1) (1) (1) Adjusted ROAA Core PPNR ROAA Core ROATCE (Annualized Core /average assets) (Annualized Core PPNR /average (Annualized Core net income 1.40% assets) /average tangible 1.34% 1.35% 1.30% 1.90% 1.87% stockholders' equity) 1.29% 1.85% 1.30% 1.27% 1.85% 18.00%
Slide 14: 2026 Guidance
2026 Guidance Loans • 2026: 5-6% annualized loan growth Deposits • 2026: 5-6% annualized deposit growth Borrowings • 2026: Balances expected to fluctuate based on loan, deposit and securities cash flows Net Interest Margin • 2026: 3.45-3.50% reported and 1-2 bps of core margin expansion in the 4th q
Slide 15: Appendix
APPENDIX = Provident Financial Services, Inc. 15
Slide 16: Net Interest Margin Analysis
Net Interest Margin Analysis Interest-Bearing Liabilities Asset Yields Total Deposits Total Borrowings Total Interest-Bearing Liabilities Securities Net Loans Total interest-earning assets 6.01% 6.09% 5.98% 5.90% 5.94% 5.85% 3.94% 3.96% 3.94% 4.01% 3.90% 3.91% 5.68% 5.76% 5.66% 5.61% 5.68% 2.96% 5.5
Slide 17: Focus on Growing Wealth Management Business
Focus on Growing Wealth Management Business AVERAGE CLIENT SIZE 145 Provident Bank households are also Beacon clients Trust & Estate $4,300,000 9% Tax 10% 2026 Q3 Total Revenue Private Advisory $ 18,371,000 Trust & Estate $ 2,032,000 Banking Mutual Fund $ 2,349,000 Advisory 3% Interest Income * $ 74
Slide 18: Provident Protection Plus, Inc.
Provident Protection Plus, Inc. Insurance Services Net Income Before Tax ($ in thousands) • Provident Protection Plus, Inc. provides insurance agency services including business, personal and employee $3,302 benefits insurance products. $2,878 • The insurance agency’s primary source of revenue is co
Slide 19: CRE Type Composition
CRE Type Composition As of 9/30/2026 HOTEL RESIDENTIAL 1.14% LAND Portfolio Characteristics SPECIAL USE 2.63% 0.76% 4.44% 10 Largest CRE Loans 3.85% of CRE Investment Portfolio OFFICE 10 Largest CRE Loans 2.14% of Total Loan Portfolio 6.57% MIXED USE MULTI- Average Loan Size Outstanding $2.53 Millio
Slide 20: CRE Office Composition
CRE Office Composition Total CRE Office Portfolio = $745.7 million* • Medical Office: approx. 35% of total office portfolio. Out of Market Other NY 5% Maturity or Reprice by Year Boroughs PA 9% 10% 2026 $52.3 2027 $109.1 NY NONURBAN 2028 $123.9 3% 2029 $60.1 NEW JERSEY MANHATTAN 71% 2030 $93.2 2% 20
Slide 21: CRE Investment Portfolio by Property Type
CRE Investment Portfolio by Property Type* As of 9/30/26 ($ in thousands) $ % PROPERTY TYPE COUNT OUTSTANDING OUTSTANDING WARR MULTI 1,051 3,833,660 33.79% 3.50 RET 879 2,708,143 23.87% 3.45 INDUS 568 2,160,871 19.05% 3.59 MIXED 677 879,297 7.75% 3.64 OFF 394 745,198 6.57% 3.70 SUP 194 503,265 4.44%
Slide 22: Multi-family Composition (NY and Rent Stabilized sectors)
Multi-family Composition (NY and Rent Stabilized sectors) Total NY Multi-family Loans = $642.4 Million Total multi-family loan portfolio: $3.84 Billion • Of the total, 102 Loans on multi-family properties in the five boroughs of NYC, aggregate outstanding $373.1 million, with an average loan size of
Slide 23: Investment Portfolio
Investment Portfolio Total Investment Portfolio = $3.54 Billion Student Loan Pools 1% Municipal Bonds As of September 30, 2026, 10% Agency CMBS U.S. Treasury Notes the portfolio had a 4% 5% modified duration of 4.2 Non Agency CMBS Corporate Notes years and weighted 3% 6% average life of 5.3 years
Slide 24: Commitment You Can Count On.
Commitment You Can Count On. Our Vision. Guiding Principles A consistently high performing bank, committed to creating advocates for life. Act with Integrity Our Mission. Commit ever day to deepen our emotional Be Accountable connections with our employees, customers, and the communities we serve by
Slide 25: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures ($ in thousands, except per share data) Reconciliation of GAAP to Non-GAAP Financial Measures ($ in thousands, except per share data) Annualized Core Return on Average Assets, Equity and Tangible Equity Three Months Ended 3Q26 2Q26 3Q25 Net Incom
Slide 26: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures ($ in thousands, Reconciliation of GAAP to Non-GAAP Financial Measures except per share data) Core Pre-provision-net-revenue: 3Q25 4Q25 1Q26 2Q26 3Q26 Net Income $ 71,720 $ 83,431 $ 79,417 $ 78,147 $ 69,159 Add: provision for credit losses 7,044
Slide 27: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures ($ in thousands, except per share data) Annualized Adjusted Non-Interest Expense to Average Assets Three Months Ended 3Q26 Reported non-interest expense $ 140,681 Adjustments to non-interest expense: Loss on extinguishment of debt 17,501 Core sys
Slide 28: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures ($ in thousands, except per share data) Annualized Adjusted Non-Interest Expense to Average Assets Three Months Ended 3Q26 2Q26 1Q26 4Q25 3Q25 Reported non-interest expense $ 140,681 $ 119,258 $ 117,141 $ 114,690 $ 113,092 Adjustments to non-inte
Slide 29: Q3 2026 Results Presentation
Q3 2026 RESULTS PRESENTATION
Provident Financial Services — Q3 2026 Earnings Presentation on 6ix