Provident Financial Services, Inc. Announces First Quarter Earnings

Provident Financial Services reported Q1 2026 net income of $79.4 million, or $0.61 per share, up from $64.0 million, or $0.49 per share, in the prior year. Pre-provision net revenue grew 13.5% year-over-year to $225.2 million, driven by expanding net interest income and higher insurance agency income. Asset quality deteriorated during the quarter, with non-performing loans increasing to 0.73% of total loans from 0.40% in the prior quarter. This increase was primarily driven by four commercial loans totaling $82.1 million on senior housing properties subject to bankruptcy filings, though management notes strong collateral values with loan-to-value ratios ranging from 32.9% to 81.9%.

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