Provident Financial Services, Inc (PFS) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed with the number one on your telephone keypad. If you would like to address your question, press star one again. Thank you. I would now like to turn the call over to Adriano Duarte, Investor Relations Officer. Please go ahead. Thank you, Kate. Good morning, everyone, and thank you for joining us for our first quarter earnings call. Today's presenters are President and CEO Tony Lavazzetta and Senior Executive Vice President and Chief Financial Officer Tom Lyons. Before beginning the review of our financial results, we ask that you please take note of our standard caution as to any forward-looking statements that may be made during the course of today's call. Our full disclaimers contain the last evening's earnings release, which has been posted to the Investor Relations page on our website. provident.bank. Now it's my pleasure to introduce Tony Labazzetta, who will offer his perspective on our first quarter. Tony. Thank you, Adriano, and welcome to the Provident Financial Services earnings call. We are proud of the excellent performance the Provident team delivered this quarter. We saw expanded margins, increased top line revenue, solid earnings, and tangible book value growth as we've begun to fully realize the benefits of last year's merger. During the quarter, we reported net earnings of $64 million for $0.49 per share. Our annualized adjusted return on average assets was 1.11%, and our adjusted return on average tangible equity was 16.15%. Our adjusted pre-tax pre-provision return on average assets was 1.61% for the first quarter. These core financial results improved from the trailing quarter and the same...