Provident Financial Services, Inc · NYSE:PFS
Provident Financial Services — Debt Investor Presentation (August 2026)
36 slides from Provident Financial Services's debt investor presentation, Aug 14, 2026
Slide 1: Fixed Income Presentation August 2026
Fixed Income Presentation August 2026
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: Table of Contents
Company Overview Loan Portfolio and Asset Quality Financial Overview Securities Portfolio and Other Funding Capital Position Appendix Table of Contents
Slide 4: Company Overview
Company Overview = Provident Financial Services, Inc.
Slide 5: Executive Management Biographies
Adriano M. Duarte, Executive Vice President and Chief Financial Officer Adriano M. Duarte has served as Chief Financial Officer since June 2026, and as Executive Vice President since April 2023. He has been with the Company for 5 years and previously served as Chief Accounting Officer from April 202
Slide 6: Executive Management Biographies (continued)
George Lista, President and Chief Executive Officer of Provident Protection Plus George Lista has served as President and Chief Executive Officer of Provident Protection Plus, Inc. since 2001. He has been with the Company for 25 years and previously served as Chief Operating Officer of SB One Insura
Slide 7: Provident Bank: Building a Premier Banking Franchise
Provident Bank; Building a Premier Banking Franchise Total Assets $25.7BN Total Loans $20.0BN Total Deposits $19.5BN YTD ROAA 1.26% YTD ROATCE¹ 16.2% • Founded in 1839, longest tenured bank headquartered in New Jersey • 135 branches serving New Jersey, eastern Pennsylvania, and Orange, Queens, and N
Slide 8: Investment Highlights
Investment Highlights 8 Highly experienced and stable management team effectively executing a relationship banking strategy, delivering high quality banking services across customer base Long-standing commitments to serving the local community, employee engagement, and diversity and inclusion Robust
Slide 9: Well Positioned in Highly Attractive Markets
Well Positioned in Highly Attractive Markets 9 Rank Institution Deposits ($MM)¹ Share (%)¹ 1 Valley National Bancorp $29,584 19.4% 2 Provident Financial Services Inc. 17,936 11.8 3 Columbia Financial Inc. 10,001 6.6 4 OceanFirst Financial Corp. 9,712 6.4 5 Fulton Financial Corp. 8,966 5.9 6 ConnectO
Slide 10: Growth Achieved Through an Organic Strategy Augmented by Disciplined M&A
Growth Achieved Through an Organic Strategy Augmented by Disciplined M&A 10 • Consistent organic growth has been supplemented by select, opportunistic whole bank acquisitions that have been conservatively priced and modeled • Wealth management has been a key priority in last decade, resulting in str
Slide 11: Loan Portfolio and Asset Quality
Loan Portfolio and Asset Quality 11
Slide 12: Loan Underwriting Policy and Disciplined Credit Culture
Loan Underwriting Policy and Disciplined Credit Culture 12 Striking a Balance Between: In Our Decision Making and Responsiveness to Customers Prudence Disciplined Underwriting Portfolio Management / Analytics • Provident employs a conservative lending approach with processes that allow for the promp
Slide 13: Diversified Loan Portfolio
Diversified Loan Portfolio 13 10% 19% 37% 26% Total Loans: $20.0bn 2Q’26 Yield: 5.90% Reserves / Gross Loans: 0.92% CRE (Excl. Multi-Family) / Total RBC: 291% CRE (Incl. Multi-Family) / Total RBC: 428% C&D / Total RBC: 26% 2Q’26 LOAN COMPOSITION BANK LEVEL PORTFOLIO CHARACTERISTICS CRE C&I Multifami
Slide 14: Overview of CRE Portfolio and Concentrations
Overview of CRE Portfolio and Concentrations 14 34% 27% 25% 25% 36% 28% 26% 26% 2024 2025 1Q'26 2Q'26 Holding company Bank-level Holding company Bank-level 10 Largest CRE Relationships as a % of CRE Portfolio: 4.0% Adjusted ADC Concentration Ratio³: 24% Average Loan Size Outstanding of CRE Portfolio
Slide 15: CRE Deep Dive
9% 51% 40% CRE Deep Dive 15 Total Multifamily Portfolio: $3.8bn Total NY Multi: $655mm¹ Manhattan Other New York City Boroughs Other New York NEW YORK ORIGINATIONS TOTAL MULTI ORIGINATIONS $191mm $94mm $112mm $37mm $140mm $80mm 2021 or Prior 2022 2023 2024 2025 2026 $1.8bn $570mm $478mm $261mm $528m
Slide 16: History of Prudent Credit Management Across Cycles
History of Prudent Credit Management Across Cycles 16 NPA TRENDS ($MM) $59.1 $84.5 $97.3 $122.5 $99.0 $76.7 $53.9 $44.4 $42.4 $34.9 $25.7 $40.2 $87.1 $48.0 $58.5 $49.6 $72.1 $78.4 $136.9$1.1 $7.6 $38.9 $58.4 $58.2 $54.8 $26.0 $29.9 $31.7 $35.7 $42.6 $23.7 $21.9 $19.5 $3.4 $6.4 $2.9 $12.8 $12.5 $5.5
Slide 17: History of Prudent Credit Management Across Cycles (cont'd)
0.19% 0.39% 0.64% 0.52% 0.43% 0.22% 0.13% 0.07% 0.07% 0.10% 0.39% 0.18% 0.06% (0.04%) 0.01% 0.08% 0.09% 0.07% 0.05% 1.44% 2.65% 2.66% 1.63% 1.12% 0.69% 0.49% 0.42% 0.46% 0.47% 0.46% 0.49% 0.49% 0.25% 0.26% 0.49% 0.65% 0.61% 0.57% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Slide 18: Financial Overview
Financial Overview = Provident Financial Services, Inc. 8
Slide 19: Historical Balance Sheet Trends
Historical Balance Sheet Trends 19 TOTAL ASSETS ($BN) GROSS LOANS HFI ($BN) TANG. COMMON EQUITY / TANG. ASSETS¹ (%) TOTAL DEPOSITS ($BN) $24.1 $25.0 $25.7 2024 2025 2Q'26 $18.6 $19.3 $19.5 2024 2025 2Q'26 $18.7 $19.5 $20.0 2024 2025 2Q'26 7.7% 8.5% 8.6% 2024 2025 2Q'26 1) Non-GAAP financial measure.
Slide 20: Track Record of Strong Performance
Track Record of Strong Performance 20 RETURN ON AVERAGE ASSETS (%) RETURN ON AVERAGE TANG. COMMON EQUITY¹ (%) DILUTED EARNINGS PER SHARE ($)EFFICIENCY RATIO¹ (%) 0.6% 0.8%² 1.2% 1.3% 2024 2025 YTD 2Q'26 8.6% 16.2% 11.3%² 16.6% 2024 2025 YTD 2Q'26 58% 52% 51% 55% 49% 48% 2024 2025 YTD 2Q'26 $1.05 $1.
Slide 21: Expanding Net Interest Margin
Expanding Net Interest Margin 21 Securities Net loansInterest-earning assets ASSET YIELDS LIABILITY COSTS LOAN REPRICING TRENDSNET INTEREST MARGIN Loan Pricing 2Q'26 Total ($BN) 2Q'26 % of Total Fixed $14.4 72% Repricing in next four quarters 6.1 31% Floating 5.5 28% Total $20.0 100% 3.26% 3.39% 3.4
Slide 22: Granular and Relationship Focused Funding Model
$18.6 $19.3 $19.1 $19.5 226bps 192bps 514bps 363bps 2024Y 2025Y 1Q'26 2Q'26 Total Deposits ($BN) Cost of Deposits (bps) Fed Funds (bps)³ Granular and Relationship Focused Funding Model 22 54% 29% 5% 12%88.9% 88.3% 88.6% 87.6% 2024Y 2025Y 1Q'26 2Q'26 Stable Core Deposit Base 3 2 • Strategic build out
Slide 23: Emphasis on Growing Fee Income
Emphasis on Growing Fee Income 23 PFS REVENUE COMPOSITION (LTM 2Q 2026¹) ($MM) PFS INSURANCE AGENCY FEE INCOME ($MM)PFS WEALTH MANAGEMENT FEE INCOME ($MM) • Beacon Trust remains focused on retention and growth of its platform. Chief Wealth Officer Annamaria Vitelli joined the team in September 2025
Slide 24: Securities Portfolio and Other Funding
Securities Portfolio and Other Funding 24
Slide 25: Investment Portfolio
Investment Portfolio 25 Total Investment Portfolio¹ = $3.55 Billion • As of June 30, 2026, the portfolio had a modified duration of 4.1 years and weighted average life of 5.0 years • As of June 30, 2026, the allowance for credit losses on held to maturity securities totaled $22,000 AFS Investment Po
Slide 26: Maintaining Strong Liquidity Profile
Maintaining Strong Liquidity Profile 26 • $8.3 billion available liquid funds and borrowing capacity • Stable insured deposit base, brokered deposits only 6.5% of total deposits as of June 30, 2026 • Total insured and collateralized deposits as of 06/30/26, totaled $13.7BN or 70.1% of our total depo
Slide 27: Interest Rate Sensitivity
Interest Rate Sensitivity 27 Calculated Increase (Decrease) in Projected Annual Net Interest Income ($000) June 30, 2026 June 30, 2025 Change in Interest Rates $ Change % Change $ Change % Change +200 bps ($15,471) (1.8%) ($5,573) (0.7%) +100 bps ($7,626) (0.9%) ($2,540) (0.3%) -100 bps $5,715 0.7%
Slide 28: Capital Position
Capital Position = Provident Financial Services, Inc.
Slide 29: Historical Capital Strength
Historical Capital Strength 29 8.5% 9.0% 9.1% 9.2%9.7% 10.4% 10.5% 10.5% 2024Y 2025Y Q1'26 Q2'26 10.0% 10.5% 10.6% 10.6% 11.4% 12.2% 12.3% 12.1% 2024Y 2025Y Q1'26 Q2'26 13.2% 13.6% 13.6% 13.5%12.4% 13.1% 13.2% 13.0% 2024Y 2025Y Q1'26 Q2'26 10.0% 10.5% 10.6% 10.6% 11.4% 12.2% 12.3% 12.1% 2024Y 2025Y
Slide 30: Double Leverage & Interest Coverage
Double Leverage & Interest Coverage 30 For the Twelve Months Ended Dec. 31, Year-to-Date ($ in thousands) 2024 2025 2Q26 Total Investment in Subsidiaries $2,944,899 $3,216,486 $3,272,961 Consolidated Equity 2,601,207 2,833,212 2,906,985 Double Leverage Ratio 113.2% 113.5% 112.6% Total Deposit Intere
Slide 31: Appendix
Appendix = Provident Financial Services, Inc. 31
Slide 32: Summary of Outstanding Debt Securities
Summary of Outstanding Debt Securities 32 1) Three-Month Chicago Mercantile Exchange Secured Overnight Financing Rate (“SOFR”) + 0.262% Issue Entity Rank Maturity Call Amount ($000s) Front-End Coupon Back-End Coupon Subordinated Debt 2034 Sub Notes (10NC5) HoldCo Subordinated 5/15/2034 5/15/2029 $22
Slide 33: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures 33 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 o
Slide 34: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures 34 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 o
Slide 35: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures 35 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 o
Slide 36: Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of GAAP to Non-GAAP Financial Measures 36 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 o
Provident Financial Services — Debt Investor Presentation (August 2026) on 6ix