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Provident Financial Q1 2025 Earnings Report
Provident Financial Services, Inc. announced its first quarter earnings and declared a quarterly cash dividend.
Key Takeaways
Provident Financial Services, Inc. reported a net income of $64.0 million, or $0.49 per basic and diluted share for the first quarter of 2025. This represents a significant increase compared to the previous quarter and the same period last year, driven by favorable repricing of deposits and the integration of Lakeland Bancorp, Inc.
Net income for Q1 2025 was $64.0 million, or $0.49 per basic and diluted share.
The net interest margin increased six basis points to 3.34% for the quarter.
The Company recorded a $325,000 provision for credit losses on loans, a significant decrease from the trailing quarter's $7.8 million.
Total assets increased to $24.22 billion, a $172.9 million increase from December 31, 2024.
Provident Financial
Provident Financial
Provident Financial Revenue by Segment
Revenue by Segment
Fees Revenue
CapyFin.comWealth Management Revenue
CapyFin.comInsurance Agency Revenue
CapyFin.comBank-Owned Life Insurance Revenue
CapyFin.comNet Gain (Loss) on Securities Transactions Revenue
CapyFin.comOther Income Revenue
CapyFin.com Forward Guidance
The company expects continued benefits from the Lakeland merger integration and remains focused on building its core businesses, maintaining credit quality, and managing risk in a dynamic economic and regulatory environment.
Positive Outlook
- Anticipated continued benefits from the Lakeland merger integration.
- Focus on building core businesses and delivering exceptional customer service.
- Commitment to creating value for all stakeholders.
- Strong credit quality and risk management practices.
- Agility in adapting to changing economic and regulatory environments.
Challenges Ahead
- Ongoing uncertainty in the markets.
- Potential impact of economic and regulatory changes.
- Risk of write-downs on foreclosed properties.
- Potential for increased competition in products and pricing.
- Impact of fiscal and monetary policies of the U.S. Government.