Provident Financial Services, Inc · NYSE:PFS
Provident Financial Services — Investor Presentation (November 2012)
19 slides from Provident Financial Services's investor presentation, Nov 23, 2012
Slide 1: Investor Presentation Fourth Quarter 2012
Exhibit 99.1 Investor Presentation Fourth Quarter 2012
Slide 2: Forward-looking statements
Certain statements contained herein are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may be identified by reference to a future period or periods, or by the use of
Slide 3: Provident Financial Services overview
Provident Financial Services, Inc. is the holding company for The Provident Bank. Established in 1839, The Provident Bank emphasizes personal service and customer convenience in attending to the financial needs of businesses, individuals and families in northern and central New Jersey through its ne
Slide 4: New Jersey's oldest state chartered bank
New Jersey’s oldest state chartered bank Experienced Management Team Over 75 branch offices in 11 New Jersey Counties Well capitalized under current regulatory standards Nine year history of quarterly cash dividends to stockholders Wealth Management and Trust Administration Services No TARP No dilut
Slide 5: Selected Key Ratios Q3 2012
Selected Key Ratios Q3 2012 Q3 2012 Financial data as of 9/30/12 Total Assets $7.26 billion 3.05% Net Loans $4.75 billion 89.68% Total Investments $1.73 billion 81.25% Total Deposits $5.37 billion 1.46% $630 million ALLL/NPLs 66.50% Net Interest Margin 3.31% Annualized ROATE 10.29% 0.82% Efficiency
Slide 6: Loan Portfolio and Deposit Mix
LOAN PORTFOLIO as of September 30, 2012 Total Loans: $4.8 Billion Average Loan Yield: 4.68% DEPOSIT MIX as of September 30, 2012 Total Deposits: $5.4 Billion Cost of Deposits: 0.46%
Slide 7: Financial data ($ in thousands, except per share data)
($ in thousands, except per share data)
Slide 8: Q3 2012 Comparative Results
Q3 2012 Comparative Results 3 2012 2 2012 3 2011 Nil $53,715 $54,578 $54,456 NIM 3.31% 3.39% 3.50% Spread 3.17% 3.26% 3.35% Avg NIB $771,409 $689,336 $605,817
Slide 9: Q3 2012 Comparative Results
Q3 2012 Comparative Results Q3 2012 Q2 2012 Change Loan Yield 4.68% 4.76% -8 bp Securities Yield 2.17% 2.42% -25 bp Total Earning Asset Yield 3.99% 4.11% -12bp Interest-bearing Deposit Cost 0.54% 0.58% -Abp Borrowing Cost 2.32% 2.20% +12 bp Total Interest-bearing Liability Cost 0.82% 0.85% -3 bp Spr
Slide 10: Federal Reserve H.8 data ($ in thousands)
($ in thousands) ¬ Source: Board of Governors of the Federal Reserve System H.8 release of November 16, 2012
Slide 11: Q3 2012 Comparative Results
Q3 2012 Comparative Results 3 2012 2 2012 3 2011 Loan Loss Provision $3,500 $3,500 $7,500 Non-interest Income $9,790 $9,343 $8,650 Non-interest Expense $36,896 $37,756 $34,953 Efficiency Ratio 58.10% 59.07% 55.39%
Slide 12: Q3 2012 Comparative Results
Q3 2012 Comparative Results 3 2012 2 2012 3 2011 NPLs/Loans 2.19% 2.43% 2.74% Criticized & Classified 5.09% 5.60% 6.66% Total Delinquencies 2.09% 2.25% 2.68% Weighted Average Risk Rating 3.39 3.42 3.47
Slide 13: Q3 2012 Comparative Results
Q3 2012 Comparative Results 3 2012 2012 3 2011 ALLL/Loans 1.46% 1.53% 1.61% ALLL/NPLs 66.50% 62.80% 58.77% ALLL/Ann. NCOs 3.14 yrs 3.50 yrs 3.02 yrs ALLL/30% of NPLs 2.22x 2.09x 1.96x
Slide 14: Asset Quality
Asset Quality NPAs -@NPAs/Assets 9 1.89% 19i% 1.89% $135,351 $134,783 1.65% 132,222 : $129,141 $119,586 3Q2011 4Q2011 1Q2012 2Q2012 3Q2012
Slide 15: Cumulative NCOs since 9/08 = 0.44%
Cumulative NCOs since 9/08 =0.44% ($ in thousands)
Slide 16: Effective disaster contingency plan minimized customer disruption
Effective disaster contingency plan minimized customer disruption “At risk” loans in designated flood zones in Monmouth, Ocean, and Hudson counties represent < 4% of the total loan portfolio Strong sponsors, prudent underwriting, federal flood insurance, private coverage, and business interruption i
Slide 17: Total Return
Total Return Total Return (%) -9/30/2011 Total Return (%) -9/30/2009 Total Return (%) -9/30/2007 to to9/30/2012 - Monthly to 9/30/2012 - Monthly 9/30/2012-Monthly 20.00 151 A000, 52.18 Boog 70.95 50.00 70.00 10.00 60.00 0.00 40.00 ae an ore (20.00) 20.00 oe) (30.00) 20.00 10.00 es (40.00) on Ba GM H
Slide 18: Dividend History
ividend 1/7/12 pecial Dir Payable 12/21/12 ‘ecord date 12, Re Declared $0.205, Dividend History s0zt0z zoztoz Toztoz pOrtoz sDTTOz zDITOz TOTTOZ pooToz sb0T0z zbotoz ToOTOz y0600z 06007 zD600z To600z yO800z 08007 zo800z ToOs00z yoLo0z s0D2002 zdL00z TOL00z y0900Z 09002 709002 T9007 posooz eds00z zos
Slide 19: Capital Ratios — 9/30/12
Capital Ratios — 9/30/12 Provident Consolidated Bank PES TCE 9.12% Tier 1 Leverage 7.89% 9.07% Tier 1 RBC 11.55% 13.27% Total RBC 12.80% 14.53%
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