29 slides from Provident Financial Services's earnings presentation, Jan 28, 2026
Slide 1: Q4 2025 Results Presentation
Q4 2025 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 • 140 branches serving New Jersey, eastern Pennsylvania, and Orange, Queens, and Nassau Counties, New York • Full-service commercial & consume
Slide 4: Q4 2025 Core Financial Highlights
Q4 2025 Core Financial Highlights Key Metrics Highlights Expanding profitability metrics sequentially, achieving a 1.34% ROAA and 17.58% ROATCE: $0.64 Diluted EPS Six consecutive quarters of growth in PPNR to $111 million, or a 1.78% PPNR ROAA which expanded 25 bps compared to the prior year. FY 202
Slide 5: Expanding Core Net Interest Margin
Expanding Core Net Interest Margin Net Interest Income ($mm) and Core Margin • Net interest income increased 6.3% annualized from the 3.44% 3.60% prior quarter due to strong loan growth and expanding core $202 3.43% 3.34% 3.36% net interest margin. 3.28% 3.40% 3.01% 3.20% • Efforts to reduce deposit
Slide 6: Sustained, Diverse Loan Growth
Sustained, Diverse Loan Growth Pipeline vs Originations ($ in millions) 3,500 3,000 2,772 2,870 2,745 2,586 2,500 2,006 2,000 1,789 1,844 1,709 1,407 • The commercial lending team originated $3.2 billion of new production in 2025, resulting in 5.5% 1,500 1,225 1,071 net commercial loan growth for th
Slide 7: Granular and Relationship Focused Funding Model
Granular and Relationship Focused Funding Model Average Total Client Deposit Mix • Total deposits increased $182 million compared to $387 million in the prior quarter, 100% 2% 3% 5% 5% 4% 15% 15% 14% 14% of that increase $260 million were related to core deposits. 80% 14% 21% 22% 19% 20% 20% • The a
Slide 8: Emphasis on Growing Fee Income
Emphasis on Growing Fee Income QTD YTD QoQ $ Annualized YoY $ ($ in thousands) Dec-25 Sep-25 Dec-24 Dec-25 Dec-24 Growth % Growth Growth Fees $ 11,100 $ 11,336 $ (236) $ 9,687 -8% $ 42,827 $ 34,114 $ 1,413 Wealth management 7,627 7,349 278 7,655 15% 29,252 30,533 (28) Insurance 3,854 3,852 2 3,289 0
Slide 9: Focus on Sustained Positive Operating Leverage
Focus on Sustained Positive Operating Leverage Non-interest expense ($ in thousands) 4Q24 1Q25 2Q25 3Q25 4Q25 Compensation and employee benefits $ 59,937 $ 62,366 $ 63,249 $ 63,202 $ 64,316 Net occupancy expense 12,562 13,927 13,011 12,773 13,078 Data processing expense 9,881 9,605 9,599 9,102 9,110
Slide 10: Maintaining Strong Balance Sheet
Maintaining Strong Balance Sheet • Stable insured deposit base, brokered deposits only 4% of total deposits as • Strong regulatory capital ratios at bank and holding company, of December 31, 2025 comfortably above well-capitalized ratios • Total insured and collateralized deposits as of 12/31/25, to
Slide 11: Managing CRE Concentration Lower
Managing CRE Concentration Lower ($ in thousands) Decreasing CRE Concentration $14,000 460.2% $12,000 449.6% 443.7% $10,000 CRE Investor 433.4% 432.1% C&I $8,000 Multifamily Construction 410.9% Other $6,000 407.4% 408.0% CRE Concentration Ratio 401.2% 401.0% Adj. CRE Concentration Ratio* $4,000 $2,0
Slide 12: Consistently Strong Credit Metrics
Consistently Strong Credit Metrics Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Total allowance to total loans 1.04% 1.02% 0.98% 0.97% 0.95% Total non-performing loans to 0.53% 0.56% 0.52% 0.40% total loans held for investment 0.37% 0.45% 0.44% 0.41% Total non-performing assets as a 0.34% 0.32% percentage of total
Slide 13: Favorable Core Performance Trends
Favorable Core Performance Trends Core ROAA (1) Core PPNR ROAA (1) Core ROATCE (1) (Annualized Core /average assets)) (Annualized Core PPNR /average assets) (Annualized Core /average tangible stockholders' equity) 1.40% 1.34% 1.80% 1.76% 1.78% 20.00% 1.19% 1.16% 1.20% 1.75% 17.58% 1.11% 18.00% 16.79
Slide 14: 2026 Guidance
2026 Guidance Loans • 2026: 4-6% annualized loan growth Deposits • 2026: 4-6% annualized deposit growth Borrowings • 2026: Balances expected to fluctuate based on loan, deposit and securities cash flows • 2026: 3.40% to 3.50% reported and 3-5bps of core margin expansion per quarter in first half Net
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 6.09% 3.94% 3.96% 3.94% 5.99% 5.95% 6.01% 5.98% 3.76% 3.64% 5.66% 5.63% 5.68% 5.76% 5.66% 3.03% 2.96% 2.90% 2.9
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 $4,000,000 8% Tax FY2025 Revenue 2% Advisory Private Advisory $ 26,224,193 87% Banking Trust & Estate $ 2,393,581 3% Tax $ 658,635 Interest Income $ 774,847 * Total $
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 benefits insurance products. $2,878 • The insurance agency’s primary source of revenue is commissio
Slide 19: CRE Type Composition
CRE Type Composition As of 12/31/25 RESIDENTIAL HOTEL LAND 2.5% 1.2% 0.7% Portfolio Characteristics SPECIAL USE 4.5% 10 Largest CRE Loans 4.14% of CRE Investment Portfolio OFFICE 10 Largest CRE Loans 2.34% of Total Loan Portfolio 6.9% Average Loan Size Outstanding $2.38 Million MIXED USE 8.3% MULTI-
Slide 20: CRE Office Composition
CRE Office Composition Total CRE Office Portfolio = $775.5 million* • Medical Office: approx. 35% of total office portfolio. OUT OF MARKET 5% OTHER NY Maturity or Reprice by Year BOROUGHS PA 1% 10% 2026 $285.9 OTHER NY 13% 2027 $130.8 2028 $138.9 2029 $75.5 MANHATTAN 1% NEW JERSEY 2030 $80.4 70% 203
Slide 21: CRE Investment Portfolio by Property Type
CRE Investment Portfolio by Property Type* As of 12/31/25 ($ in thousands) $ % PROPERTY TYPE COUNT OUTSTANDING OUTSTANDING WARR MULTI 1,077 3,725,095 33.29% 3.51 RET 898 2,671,498 23.87% 3.47 INDUS 577 2,099,675 18.76% 3.50 MIXED 701 923,767 8.26% 3.63 OFF 409 775,509 6.93% 3.72 SUP 205 502,973 4.50
Slide 22: Multi-family Composition
Multi-family Composition (NY and Rent Stabilized sectors) Total NY Multi-family Loans = $592.5 Million Total multi-family loan portfolio: $3.73 Billion • Of the total, 104 Loans on multi-family properties in the five boroughs of NYC, OTHER NY aggregate outstanding $340.3 million, with an average loa
Slide 23: Investment Portfolio
Investment Portfolio Total Investment Portfolio = $3.45 Billion Agency CMBS U.S. Treasury Notes Student Loan Pools 4% 8% 1% Corporate Notes • As of December 31, 2025, Municipal Bonds 3% 11% the portfolio had a Non Agency CMBS modified duration of 4.0 3% years and weighted average life of 4.8 years A
Slide 24: Commitment You Can Count On.
Commitment You Can Count On. Our Vision. Guiding Principles A consistently high performing bank, committed to creating advocates for life. Act with Integrity Be Accountable Our Mission. Commit ever day to deepen our emotional connections with our employees, customers, and the communities we serve by
Slide 25: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures ($ in thousands, except per share data) Annualized Adjusted Return on Average Assets, Equity and Tangible Equity Three Months Ended 4Q25 3Q25 4Q24 Net Income $ 83,431 $ 71,720 $ 48,524 Write-down on ORE Property Merger-related transaction costs -
Slide 26: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures ($ in thousands, Core Pre-provision-net-revenue: Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 except per share data) Net Income $ 48,524 $ 64,038 $ 71,981 $ 71,720 $ 83,431 Add: provision for credit losses 8,880 638 (2,888) 7,044 (1,213) Add: income t
Slide 27: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures ($ in thousands, except per share Annualized Adjusted Non-Interest Expense to Average Assets data) Three Months Ended Q4 2025 Reported non-interest expense $ 114,690 Adjustments to non-interest expense: Contingent litigation reserves - Merger-rel
Slide 28: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures ($ in thousands, except per share data) Three Months Ended Annualized Adjusted Non-Interest Expense to Average Assets Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Reported non-interest expense $ 114,690 $ 113,092 $ 114,614 $ 116,267 $ 134,323 Adjustme
Slide 29: Q4 2025 Results Presentation
Q4 2025 RESULTS PRESENTATION