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Dec 31, 2022
Provident Financial Q4 2022 Earnings Report
Reported record fourth quarter and full year earnings.
Key Takeaways
Provident Financial Services reported strong financial results for Q4 2022, with record net income and net interest income. The net interest margin expanded, and commercial loan growth remained strong.
Net interest income increased to $114.1 million.
Net interest margin increased to 3.62%.
Commercial loan portfolio increased to $8.78 billion, growing at an annualized rate of 9.7%.
Net income was $49.0 million, or $0.66 per basic and diluted share.
Provident Financial
Provident Financial
Forward Guidance
The company is working towards obtaining stockholder and regulatory approvals necessary to combine with Lakeland Bancorp, Inc.