23.29
+1.44%
Close of 9 Nov 2026, in USD
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About Provident Financial Services
From its filings with the US Securities and Exchange Commission
Provident Financial Services is based in Jersey City, New Jersey and is incorporated in Delaware. Its shares trade on NYSE under the ticker PFS. The SEC classifies its business as savings institution, federally chartered. In the fiscal year to 31 December 2025, it reported revenue of $73.1m and net income of $291.2m. At that date it held total assets of $24.98bn and shareholders' equity of $2.83bn. By business, Wealth management fees brought in 40.0% of revenue, followed by Banking service charges and other fees: at 35.0% and Insurance agency income at 25.0%.
The Company is a Delaware corporation which became the holding company for Provident Bank (the “Bank”) on January 15, 2003, following the completion of the Bank's conversion to a New Jersey-chartered capital stock savings bank. On January 15, 2003, the Company issued an aggregate of 59,618,300 shares of its common stock, par value $0.01 per share in a subscription offering, and contributed $4.8 million in cash and 1,920,000 shares of its common stock, which amounted to $24.0 million in aggregate, to The Provident Bank Foundation, a charitable foundation established by the Bank. The Company recognized an expense, net of income tax benefit, equal to the cash and fair value of the stock during 2003. Conversion costs were deferred and deducted from the proceeds of the shares sold in the offering. As a result of the conversion and related stock offering, the Company raised $567.2 million in net proceeds, of which $293.2 million was utilized to acquire all of the outstanding common stock of the Bank. The Company owns all of the outstanding common stock of the Bank, and as such, is a bank holding company subject to regulation by the Board of Governors of the Federal Reserve System ("Federal Reserve Board" or "Federal Reserve").
Quoted from its 10-K, filed 27 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Financials
- Industry
- Thrifts & Mortgage Finance
- Listed since
- 16 Jan 2003
- Employees
- 1,817
- Head office
- 830 BERGEN AVENUE, JERSEY CITY, NJ, 07306
- Incorporated in
- DE
- Classification
- Savings Institution, Federally Chartered
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Mr. Christopher MartinExecutive Chairman of the Board, since 2004$1.4m
- Mr. Anthony LabozzettaPresident, Chief Executive Officer, Director, since 2020$3.5m
- Mr. Thomas SharaExecutive Vice Chairman of the Board, since 2024$5.8m
- Mr. Thomas LyonsSenior Executive Vice President, Chief Financial Officer of Provident and Provident Bank$1.6m
- Mr. George ListaPresident, Chief Executive Office - Provident Protection Plus, Inc$944,925
- Ms. Carolyn PowellChief Human Resources Officer, Executive Vice President
- Mr. Timothy MattesonExecutive Vice President, Chief Administrative Officer
- Mr. Bennett MacdougallExecutive Vice President, General Counsel, Corporate Secretary
- Mr. James ChristyExecutive Vice President; Chief Risk Officer of Provident Bank
- Mr. Adriano DuarteExecutive Vice President, Chief Accounting Officer of Provident Bank
- Mr. William FinkExecutive Vice President, Chief Lending Officer
- Mr. Vito GiannolaExecutive Vice President - Chief Retail Banking Officer
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 26
- Environment
- 8
- Social
- 64
- Governance
- 7
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Provident Financial Services Inc has a strong market presence as a provider of financial services, offering a diverse range of products and solutions to its customers. The company has established a solid reputation and brand recognition, which contributes to customer loyalty and trust.
- Provident Financial Services Inc offers a comprehensive portfolio of financial services, including banking, lending, wealth management, and insurance products. This breadth of offerings allows the company to cater to various customer needs and increase revenue streams.
- The company has built enduring relationships with its customers, fostering loyalty and repeat business. These relationships are built on trust, quality service, and customer satisfaction, enabling Provident Financial Services Inc to retain a large customer base.
- Provident Financial Services Inc has developed a reputable brand image known for its reliability, stability, and integrity. This positive brand perception increases customer confidence and attracts new clients seeking trustworthy financial services.
Weaknesses
- Despite its strengths, Provident Financial Services Inc also faces certain weaknesses that could hinder its performance and growth in the market.
- The company's operations are concentrated primarily in specific geographic regions. This limited market presence makes Provident Financial Services Inc vulnerable to local economic fluctuations, potentially affecting its overall financial performance.
- Compared to some competitors, Provident Financial Services Inc has been slower in adopting digital technologies and implementing digital banking solutions. This may result in a competitive disadvantage in an increasingly digitalized financial services landscape.
Opportunities
- Provident Financial Services Inc has the potential to capitalize on opportunities to expand and enhance its business in the ever-evolving financial industry.
- The increasing preference for online banking and digital financial services presents an opportunity for Provident Financial Services Inc to invest in digital transformation, offering innovative online platforms and applications to meet customer expectations and expand its market reach.
- Collaborating with strategic partners or acquiring complementary businesses can help Provident Financial Services Inc broaden its product/service offering, enter new markets, and strengthen its competitive position.
Threats
- Provident Financial Services Inc faces various external threats that could impact its business operations and financial stability.
- The financial services industry is highly competitive, with many established players and emerging fintech companies vying for market share. This intensifying competition puts pressure on Provident Financial Services Inc to continuously innovate and differentiate its offerings to stay ahead.
- Fluctuations in the global and local economy, such as recessions or economic downturns, can negatively impact Provident Financial Services Inc's business performance, as customers may reduce their spending, borrowing, or investing activities.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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