Provident Financial Services stock: record revenue offsets one-time charges
Published on 10/30/2026 at 01:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSThird-quarter results and balance-sheet trends
- Provident Financial Services reported record revenue and higher net interest income for the quarter ended September 30, 2026.
- One-time debt extinguishment and system conversion costs reduced reported earnings below the core result.
- Deposits and the commercial loan pipeline increased, while non-performing loans remained an investor focus.
Provident Financial Services reported its third-quarter 2026 results on October 28, covering the period ended September 30. The company said record revenue and growth in its spread and fee-based businesses supported core profitability, while several one-time items reduced reported earnings. The Nasdaq-published earnings release identifies the company as Provident Financial Services, Inc. and lists its NYSE ticker as PFS.
Core performance held up
Reported net income was USD 69.2 million, or USD 0.53 per diluted share, compared with USD 71.7 million, or USD 0.55 per share, in the year-earlier quarter. The result included a USD 17.5 million loss on extinguishment of debt, USD 3.7 million in core conversion costs and USD 465,000 in branch restructuring expenses.
Excluding those items, core net income reached USD 84.3 million, or USD 0.65 per diluted share. Core pre-provision net revenue rose to USD 119.5 million from USD 108.7 million a year earlier. Net interest income increased to a record USD 208.0 million, while the reported net interest margin was 3.50%, up from 3.43% in the prior-year quarter.
Deposits and credit quality
Total deposits stood at USD 19.81 billion at September 30, up USD 261.7 million on an annualized quarter-over-quarter basis. The company also reported a USD 3.03 billion loan pipeline, with both its commercial real estate and commercial and industrial pipelines above USD 1.0 billion for a third consecutive quarter.
Credit quality remains an important counterpoint for investors. Non-performing loans totaled USD 140.1 million, or 0.69% of loans, compared with USD 78.4 million, or 0.40%, at December 31, 2025. Net charge-offs were USD 2.4 million for the quarter, equivalent to an annualized 0.05% of average loans.
Provident Financial Services at a glance
- Company: Provident Financial Services, Inc.
- ISIN: US74386T1051
- Ticker: PFS
- Home exchange: NYSE
- Reporting period: Quarter ended September 30, 2026
- Reported net income: USD 69.2 million
- Core net income: USD 84.3 million
- Net interest income: USD 208.0 million
For investors, the release presents a mixed but constructive picture: underlying revenue and deposit momentum improved, while integration-related expenses and higher non-performing loans require continued monitoring. The figures are reported by the company, and core measures are non-GAAP figures that exclude the specified items.
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