Anthony Labuzetta
President and CEO
Replay available
Provident Financial Services, Inc (PFS) Q4 2025 Earnings Call
Provident Financial Services, Inc (NYSE: PFS) Q4 2025 earnings conference call, held 2026-01-28. Replay captured from the company's public earnings webcast.
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Tom Tarolli
Chief Financial Officer
Mark Fitzgibbon
Analyst, Piper Sandler
Tim Switzer
Analyst, KBW
Freddie Strickland
Analyst, Hovde Group
Steve Moss
Analyst, Raymond James
Dave Storms
Analyst, Stonegate Capital Partners
Unidentified Speaker
Investor webinar replay
Watch the replay and follow the connected company analysis, news, and investor updates for Provident Financial Services, Inc.
Replay transcript excerpt
WEBVTT 00:00:00.031 -- 00:00:05.057 Thank you Adriano, and welcome everyone to the Provident Financial Services fourth quarter 00:00:05.057 -- 00:00:10.222 earnings call. The Provident team delivered another strong quarter driven 00:00:10.222 -- 00:00:15.989 by record revenues, favorable credit metrics, and expanding core profitability. 00:00:15.989 -- 00:00:21.054 Throughout 2025, we built organic growth momentum on both sides of the balance 00:00:21.054 -- 00:00:26.260 sheet, which combined with positive operating leverage resulted in notable improvement 00:00:26.260 -- 00:00:28.422 in our financial performance. 00:00:28.422 -- 00:00:33.972 Accordingly, in the fourth quarter, we reported net earnings of 83 million, or 64 00:00:33.972 -- 00:00:39.798 cents per share. Our annualized return on average assets was 1.34%, 00:00:39.798 -- 00:00:44.182 and our adjusted return on average tangible common equity was 17.6%. 00:00:44.182 -- 00:00:46.182 Pre-provision 00:00:47.465 -- 00:00:54.049 net revenue was a record 111 million, or an ROA of 1.78%. 00:00:55.192 -- 00:01:00.252 Since closing the Lakeland transaction, we have grown poor pre-provisioned net 00:01:00.252 -- 00:01:03.314 revenue every quarter. 00:01:03.578 -- 00:01:08.866 Turning to our balance sheet, our commercial loan team generated total new loan production 00:01:08.866 -- 00:01:12.749 of $3.2 billion in 2025. Elevated 00:01:13.052 -- 00:01:18.441 loan payoffs of $1.3 billion, which were primarily in our CREE portfolio, 00:01:18.441 -- 00:01:23.449 partially offset our strong production, resulting in net commercial loan growth of 00:01:23.449 -- 00:01:27.140 5.5% for the year. 00:01:27.140 -- 00:01:31.945 We remain focused on generating high quality diversified loan growth. 00:01:31.945 -- 00:01:36.990 At ye...