Provident Financial Services, Inc · NYSE:PFS
Provident Financial Services — Conference Presentation (November 2003)
19 slides from Provident Financial Services's conference presentation, Nov 13, 2003
Slide 1: Investor Presentation, November 13, 2003
INVESTOR PRESENTATION NOVEMBER 13, 2003 Exhibit 99.1
Slide 2: Forward-Looking Statements
Forward-Looking Statements Statements contained in this presentation which are not historical facts are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could caus
Slide 3: Provident Financial Services, Inc. is the Holding Company for The Provident Bank
Provident Financial Services, Inc. is the Holding Company for The Provident Bank On January 15, 2003: Provident Financial Services, Inc. issued an aggregate of 59.62 million shares and contributed cash and 1.92 million shares of its common stock to The Provident Bank Foundation $586.2 million in net
Slide 4: Our Company
Our Company Profile (as of September 30, 2003) $4.2 billion in Assets $2.7 billion in Deposits $2.1 billion in Loans 54 branches in 10 counties in northern and central New Jersey A full-service bank: Full Range of Retail and Commercial Deposit Products Retail and Commercial Lending On-line and Telep
Slide 5: Our Strengths: Tradition, Commitment, Focus
Our Strengths: Tradition, Commitment, Focus Tradition of Safe & Sound Management New Jersey’s Oldest Bank; Established 1839 Commitment to Profitable Growth Stock Conversion Completed January 15, 2003; Significant one-time contribution to Charitable Foundation Significant funding expenses for Stock B
Slide 6: Our Strategic Initiatives
Our Strategic Initiatives Grow the Balance Sheet Grow Market Share Sustain and Increase Brand Awareness Maximize Net Interest Income without Compromising Asset Quality Reinforce Pay-for-Performance Sales Culture Build Enterprise-wide Understanding and Fulfillment of Customer Needs Control Operating
Slide 7: Our Financial Performance
Our Financial Performance * for the nine months ended September 30, 2003 ($ in millions) 2003* 2002 2001 Assets Loans, net Deposits $ 3,243.3 Capital Net Income Net Interest Margin 3.33% 3.98% 3.79% $ 4,171.9 $ 3,919.2 $ 2,869.7 $ 2,092.4 $ 2,031.9 $ 1,994.6 $ 2,689.9 $ 2,341.7 $ 833.8 $ 326.0 $ 292
Slide 8: Our Business Drivers
Our Business Drivers Assess Merger & Acquisition Opportunities Continue De Novo Branching Maintain Diversified Loan Portfolio Composition Continue to Increase proportion of Core Deposits to Total Deposits Customer Relationship Management Process: Maximize Product Penetration among Current Households
Slide 9: Loan Portfolio Diversification
Loan Portfolio Diversification to improve asset yields to reduce exposure to interest rate risk
Slide 10: Loan Diversification Strategy
Loan Diversification Strategy Long-term Strategy--Maintain even balance between Retail Loan Portfolio and Commercial Loan Portfolio Near-term Strategy will favor Retail Loans Mortgage Warehouse line of business de-emphasized Substantially all Warehouse Lines of Credit being sold in 4th Quarter 2003
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Slide 12: Our Deposit Market Share
Our Deposit Market Share As of June 30, 2003: 15th of 176 FDIC-Insured Institutions in State of New Jersey 13th of 135 FDIC-Insured Institutions in Provident’s 10-County Market Area Increase for 12 Months ended June 30, 2003: Total Deposits all New Jersey Institutions = 8.48% Total Deposits Providen
Slide 13: Core Deposit Emphasis
Core Deposit Emphasis to expand customer relationships to effectively manage interest rate expense
Slide 14: Dual Strategy of Loan Diversification and Core Deposit Emphasis
Dual Strategy of Loan Diversification and Core Deposit Emphasis has resulted in Net Interest Income Growth $ in millions
Slide 15: Non-performing Loans to Total Loans
2000 2001 2002 September, 2003 1% of Non-performing Loans to Total Loans ao™ 15 PROVIDENT FINANCIAL SERVICES, INC.
Slide 16: Capital Management Strategies for Earnings per Share Growth
Capital Management Strategies for Earnings per Share Growth Declaration of Cash Dividend after first quarter of operation as a public company Stock buy-backs commenced in 2003 to fund stockholder-approved benefit plans Corporate stock buy-backs available for 2004 Continuing assessment of merger oppo
Slide 17: Our Mission
Our Mission Our mission is to consistently provide superior value to our stockholders by achieving strong financial performance to our customers by delivering high quality financial solutions that help improve and enrich their lives to our employees by maintaining a challenging and rewarding work en
Slide 18: Our Vision
Our Vision Investors seek Financial Performance Which will be Driven by Customers seek Customer-Centricity Employees seek Which will be Driven by Focused & Rewarded Workforce
Slide 19: Provident Financial Services, Inc.
—— — PROVIDENT FINANCTAL-SERVICES, INC.
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