Provident Financial Services, Inc (PFS) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. Thank you for joining us and welcome to the Provident Financial Services second quarter 2026 earnings conference call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. I will now hand the conference call over to Michael Perito, Head of Investor Relations. Michael, please go ahead. Thank you. Good morning, everyone, and thank you for joining us for our second quarter 2026 earnings call. Today's presenters are President and CEO Tony Labozzetta and Executive Vice President and Chief Financial Officer Adriano Duarte. Before beginning their 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 disclaimer is contained in last evening's earnings release, which has been posted to the investor relations page on our website, provident.bank. Now, I'd like to hand it off to Tony Labozzetta, who will offer his perspective on our second quarter. Tony? Thank you, Michael, and good morning, everyone. I appreciate you joining us today to discuss our second quarter 2026 results. I am pleased to report another outstanding quarter of performance that validates the momentum we've built across our business. Through the first half of 2026, we have grown earnings per share by 17% as compared to the same period last year while also significantly improving our profitability. More specifically, in the second quarter, We delivered net earnings of $78 million or $0.60 per diluted share and core net earnings of $80 million or $0.61 per share. Our annualized adjusted return on average assets was 1...