Provident Financial Services, Inc · NYSE:PFS
Provident Financial Services — Q3 2025 Earnings Presentation
29 slides from Provident Financial Services's earnings presentation, Oct 30, 2025
Slide 1: Q3 2025 Results Presentation
Q3 2025 RESULTS PRESENTATION
Slide 2: Forward Looking Statements
NYSE: PFS 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 amen
Slide 3: Provident Bank; Building a Premier Banking Franchise
NYSE: PFS Provident Bank; Building a Premier Banking Franchise 3 (1) See Appendix for a reconciliation of GAAP and non-GAAP financial measures. Total Assets $24.8B Total Loans $19.3B Total Deposits $19.1B PTPP ROAA 1.76% Adj ROATE 16.0% Wealth AUM $4.3B YTD Insurance Rev $14.7MM Company Overview Geo
Slide 4: Q3 2025 Financial Highlights
NYSE: PFS 4 Q3 2025 Financial Highlights $0.55 Diluted EPS 1.16% Adjusted ROAA 10.39% Adjusted ROAE 16.01% Adjusted ROATE Key Metrics Highlights • The Company's annualized returns on average assets, average equity and average tangible equity(1) were 1.16%, 10.39% and 16.01% for the quarter ended Sep
Slide 5: Stable Core Funding Base
NYSE: PFS Stable Core Funding Base DEPOSIT COMPOSITION 5 Non-interest bearing deposits 19.5% Interest bearing core deposits 42.0% Municipal deposits 19.6% Certificates of deposit 14.2% Wholesale deposits 4.8% September 30, 2025 Q3 Cost of Interest-Bearing Deposits 2.67% Q3 Total Cost of Deposits 2.1
Slide 6: Diversified Portfolio of Loans Held for Investment
NYSE: PFS Diversified Portfolio of Loans Held for Investment September 30, 2025 6 Residential Mortgage Loans 10% Commercial Mortgage 38% Multi-family Loans 18% Commercial Construction Loans 4% Commercial Loans 25% Mortgage warehouse lines 2%Consumer Loans 3% LOAN COMPOSITION Q3 2025 Avg Net Loan Yie
Slide 7: CRE Investment Portfolio by Property Type
NYSE: PFS CRE Investment Portfolio by Property type 7 As of 09/30/25 MULTI- FAMILY 32.6% RETAIL 23.7% INDUSTRIAL 18.9% MIXED USE 8.3% OFFICE 7.2% SPECIAL USE 4.9% RESIDENTIAL 2.6% HOTEL 1.2% LAND 0.7% Portfolio Characteristics 4.16% of CRE Investment Portfolio10 Largest CRE Loans 2.33% of Total Loan
Slide 8: Multi-family Composition (NY and Rent Stabilized sectors)
NYSE: PFS Multi-family Composition (NY and Rent Stabilized sectors) 8 OTHER NY BOROUGHS 47% OTHER NY STATE 43% MANHATTAN 10% Total NY Multi-family Loans = $501.7 Million Total multi-family loan portfolio: $3.58 Billion • Of the total, 95 Loans on multi-family properties in the five boroughs of NYC,
Slide 9: CRE Office Composition
NYSE: PFS CRE Office Composition 9 • Medical Office: approx. 36% of total office portfolio. Maturity or Reprice by Year $167.6M2025 153.5 M2026 130.5 M2027 144.9 M2028 70.5 M2029 124.5 M2030 & BEYOND $791.5MTotal OFFICE - OUT OF MARKET 5% PENNSYLVANIA 10% OTHER NY 6% OTHER NY BOROUGHS 9% NEW JERSEY
Slide 10: C & I Loans by NAICS Sector – September 30, 2025
NYSE: PFS C & I – (Includes owner occupied) Loans by NAICS Sector – September 30, 2025 10 Health Care and Social Assistance 17% Real Estate and Rental and Leasing 12% Wholesale Trade 8% Construction 10% Manufacturing 10% Finance and Insurance 11% Retail Trade 6% 13 Diversified Sectors 26% 1. Accommo
Slide 11: Strong Credit Metrics
Strong Credit Metrics 11 1.02% 1.04% 1.02% 0.98% 0.97% Total allowance to total loans 0.47% 0.37% 0.53% 0.56% 0.52% Total non-performing loans to total loans held for investment 0.41% 0.34% 0.45% 0.44% 0.41%Total non-performing assets as a percentage of total assets 0.14% 0.12% 0.04% 0.03% 0.11% Net
Slide 12: Investment Portfolio
NYSE: PFS Agency Notes - Fixed 0.13% U.S. Treasury Notes 9.00% Corporate Notes 2.73% Agency MBS - Fixed 44.02% SBA Pools 1.08% Agency CMO 23.77% Corporate CMO - Fixed 0.10% Non Agency CMBS 2.51% Municipal Bonds 11.36% Student Loan Pools 1.28% Agency CMBS 4.02% Investment Portfolio 12 Total Investmen
Slide 13: Net Interest Margin Analysis
NYSE: PFS Net Interest Margin Analysis 13 3.56% 3.55% 3.73% 3.80% 3.89% 6.21% 5.99% 5.95% 6.01% 6.09% 5.84% 5.66% 5.63% 5.68% 5.76% Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Asset Yields Securities Net Loans Total interest-earning assets 2.96% 2.81% 2.64% 2.62% 2.67% 3.73% 3.64% 3.76% 3.94% 3.96% 3.19
Slide 14: Emphasis on Fee Income
NYSE: PFS $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Emphasis on Fee Income Non-Interest Income $ in thousands 14 Q3 25Q2 25Q1 25Q4 24Q3 24 $ 11,336 $ 10,736 $ 9,655 $ 9,687 $ 9,816 Fees 7,349 6,948 7,328 7,655 7,620 Wealth management income 3,852 4,942 5,651 3,2
Slide 15: Focus on Wealth Management Business
NYSE: PFS * Represents interest on lines of credit to Beacon clients, whose investment accounts are pledged as collateral. Advisory 87% Trust & Estate 8% Tax 2% Private Banking 3% Focus on Wealth Management Business 15 $4.3 Billion AUM For 1,050 family relationships 2025 YTD Revenue $ 19,351,757 Adv
Slide 16: Focus on Wealth Management Business
NYSE: PFS AVERAGE CLIENT SIZE $4,000,000 As of September 30, 2025, based on AUM of $4.3B for 1,050 family relationships AVERAGE FEE 72 bps EBITDA & NET INCOME EBITDA (YTD September 30, 2025) $ 9,438,000 Net Income (YTD September 30, 2025) $ 6,601,000 CROSSOVER PROVIDENT/BEACON (HOW MANY PROVIDENT CU
Slide 17: Provident Protection Plus, Inc.
NYSE: PFS • Provident Protection Plus, Inc. provides insurance agency services including business, personal and employee benefits insurance products. • The insurance agency’s primary source of revenue is commission income earned from the sale of business and personal property and casualty insurance
Slide 18: Strong Core Performance
NYSE: PFS 1.48% 1.53% 1.61% 1.64% 1.76% Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Core PTPP ROAA (Annualized Core PTPP earnings/average assets) CORE PTPP ROAA(1) (1) See Appendix for a reconciliation of GAAP and non-GAAP financial measures. Strong Core Performance 18 19.77% 20.31% 21.18% 21.26% 22.21%
Slide 19: Performance Ratios – Bank Capital
NYSE: PFS Performance Ratios – Bank Capital 19 9. 70 9. 72 9. 98 10 .1 2 10 .2 711 .5 1 11 .4 2 11 .7 1 11 .7 3 11 .9 0 11 .5 1 11 .4 2 11 .7 1 11 .7 3 11 .9 0 12 .4 6 12 .4 0 12 .7 1 12 .6 9 12 .8 6 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Tier 1 leverage capital Common equity Tier 1 risk-based capi
Slide 20: CRE to Total Risk-Based Capital
NYSE: PFS Guideline is 300% of Regulatory Capital CRE to Total Risk-Based Capital 20 458.0% 460.2% 449.6% 443.7% 433.4% 0.00% 50.00% 100.00% 150.00% 200.00% 250.00% 300.00% 350.00% 400.00% 450.00% 500.00% 09/30/24 12/31/2024 3/31/2025 6/30/2025 9/30/2025
Slide 21: 2025 Guidance
NYSE: PFS 2025 Guidance 21 • Remainder of 2025: 5% annualized growth (+/- 2% due to trade/geopolitical policy uncertainty) Loans • Remainder of 2025: 1-3% annualized growthDeposits • Remainder of 2025: Balances expected to fluctuate based on loan, deposit and securities cash flowsBorrowings • Remain
Slide 22: Appendix
APPENDIX
Slide 23: CRE Investment Portfolio by Property Type
NYSE: PFS As of 09/30/25 ($ in thousands) CRE Investment Portfolio by Property Type* 23*Excludes Purchase Accounting and Construction Loans WARR % OUTSTANDING $ OUTSTANDINGCOUNT PROPERTY TYPE 3.4632.59%3,579,927 1,062MULTI 3.4423.68%2,600,884 899RET 3.4918.90%2,076,376 568INDUS 3.668.29%910,664 705M
Slide 24: Loans by NAICS Sector – C & I
NYSE: PFS Loans by NAICS Sector – C & I – (Includes owner occupied)* 24*Excludes Purchase Accounting Adjustments NAIC Industry Code Loan Count Exposure ($) 62: Health Care and Social Assistance 709 1,081,725 53: Real Estate and Rental and Leasing 1,272 585,836 81: Other Services (except Public Admin
Slide 25: Loans by NAICS Sector – Construction
NYSE: PFS Loans by NAICS Sector – Construction 25*Excludes Purchase Accounting Adjustments Balance ($)Exposure ($)Loan CountNAICS Industry Code 572,875929,43475Real Estate and Rental and Leasing 48,77570,99321Construction 44,74754,0663Health Care and Social Assistance 19,47520,0001Accommodation and
Slide 26: Non-GAAP Financial Measures
NYSE: PFS Note: The Company has presented the following non-GAAP (Generally Accepted Accounting Principles) financial measures because it believes that these measures provide useful and comparative information to assess trends in the Company’s results of operations and financial condition. Presentat
Slide 27: Non-GAAP Financial Measures
NYSE: PFS Note: The Company has presented the following non-GAAP (Generally Accepted Accounting Principles) financial measures because it believes that these measures provide useful and comparative information to assess trends in the Company’s results of operations and financial condition. Presentat
Slide 28: Non-GAAP Financial Measures
NYSE: PFS Note: The Company has presented the following non-GAAP (Generally Accepted Accounting Principles) financial measures because it believes that these measures provide useful and comparative information to assess trends in the Company’s results of operations and financial condition. Presentat
Slide 29: Q3 2025 Results Presentation
Q3 2025 RESULTS PRESENTATION
Provident Financial Services — Q3 2025 Earnings Presentation on 6ix