Q2 2026 Provident Financial Services Inc Earnings Call Transcript

Jul 30, 2026 / 02:00 PM GMT

Release Date Price: €21.2 (+3.92%)

Transcript 10-Q8-K

Key Points

Positve

Record revenues driven by expanding net interest income and non-interest income, with adjusted pre-provision net revenue reaching a record $118 million.
Strong commercial loan growth, with $700 million in new fundings and a record pipeline of $3.2 billion, supporting full-year loan growth at the high end of the range.
Improved asset quality metrics, with net charge-offs at just 4 basis points of average loans and non-performing assets declining quarter-over-quarter.
Record non-interest income of $32 million, driven by standout performance in Property Protection Plus insurance and growth in Beacon Trust and SBA loan sales.
Net interest margin expanded 8 basis points to 3.48%, supported by backbook loan repricing and stable deposit costs, with further modest expansion expected.

Negative

Deposit competition remains intense, particularly in consumer and municipal segments, leading to expectations of 1-2 basis points increase in deposit costs.
Loan growth guidance was not raised despite strong pipeline, due to uncertainty around prepayments and seasonal slowdown in the third quarter.
Non-interest expenses remain elevated, with core expenses of $116.9 million and additional non-recurring charges of $4.5 million expected for core system upgrades.
Provision for credit losses increased to $9.3 million due to loan growth and higher reserves, though charge-offs remain low.
A large $82 million senior housing commercial relationship remains on non-accrual status, with resolution expected by year-end but still posing risk.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PFS.N - Provident Financial Services Inc
Q2 2026 Provident Financial Services Inc Earnings Call
Jul 30, 2026 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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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 1 to raise your hand.

To withdraw your question, pressar 1 again.

I will now hand the conference call over to Michael Perrio, 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 Lapozzetta, an executive Vice President and

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