Overview
Provident Financial Services is the holding company of Provident Bank. The bank is a New Jersey-charted capital stock savings bank operating full-service branch offices throughout northern and central New Jersey. The bank attracts deposits from the general public and businesses primarily in the areas surrounding its banking offices and uses those funds, together with funds generated from operations and borrowings, to originate commercial real estate
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Read More loans, commercial business loans, residential mortgage loans, and consumer loans. The bank invests in mortgage-backed securities and other permissible investments. Also, the bank provides fiduciary and wealth management services through its wholly-owned subsidiary, Beacon Trust Company and insurance brokerage services through its wholly-owned subsidiary, Provident Protection Plus, Inc. The bank's PFS Insurance Services, Inc., formerly Provident Investment Services, Inc., sells life and health insurance and wealth and asset management.
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Read More loans, commercial business loans, residential mortgage loans, and consumer loans. The bank invests in mortgage-backed securities and other permissible investments. Also, the bank provides fiduciary and wealth management services through its wholly-owned subsidiary, Beacon Trust Company and insurance brokerage services through its wholly-owned subsidiary, Provident Protection Plus, Inc. The bank's PFS Insurance Services, Inc., formerly Provident Investment Services, Inc., sells life and health insurance and wealth and asset management.
Read Less
Anthony J Labozzetta
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Depository Credit Intermediation
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Credit Intermediation and Related Activities
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Finance and Insurance
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Federal savings institutions
Activities Related to Credit Intermediation
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Agencies, Brokerages, and Other Insurance Related Activities
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Insurance Carriers
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Insurance and Employee Benefit Funds
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Monetary Authorities-Central Bank
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Nondepository Credit Intermediation
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Other Financial Investment Activities
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Other Investment Pools and Funds
View more , Securities and Commodity Contracts Intermediation and Brokerage Securities and Commodity Exchanges
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View more , Securities and Commodity Contracts Intermediation and Brokerage Securities and Commodity Exchanges
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Modelled
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Actual
$1.14 billion
Actual
44.95%
-10.03%
$24,051
DEC
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NYSE:PFS
Contacts
Get in Touch with 5 Principals* and 142 Contacts
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Anthony J LabozzettaPresident and Chief Executive Officer
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Contact 2?
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Contact 3?
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Contact 4?
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Financial Statements
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Financial data as of December 31, 2024 (12 month period) in USD
Annual Revenue 2024
$1.14 billion
USD
Actual
All financial statement data is in millions except per share data | Source: Morningstar
| Cash Flow (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Net Operating Cash | $426 | $173 | $200 |
| Net Investing Cash | $508 | -$470 | -$648 |
| Net Financing Cash | -$908 | $290 | -$79 |
| Net Change in Cash | $26 | -$6 | -$526 |
| Cash at Beginning of Period | $180 | $186 | $712 |
| Cash at End of Period | $206 | $180 | $187 |
| Capital Expenditure | -$1 | -$7 | -$9 |
| Assets (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Current Assets | |||
| Cash and Cash Equivalents | $206 | $180 | $187 |
| Accounts Receivable | $91 | $59 | $52 |
| Inventories | $ | $ | $ |
| Other Current Assets | $ | $ | $ |
| Asset Summary | |||
| Total Current Assets | $ | $ | $ |
| Tangible Fixed Assets | $120 | $71 | $80 |
| Intangible Assets | $195 | $14 | $17 |
| Total Assets | $24,052 | $14,211 | $13,783 |
| Liabilities (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Current Liabilities | |||
| Accounts Payable | $ | $ | $ |
| Short-Term Debt | $ | $ | $ |
| Other Current Liabilities | $ | $ | $ |
| Liability Summary | |||
| Total Current Liabilities | $ | $ | $ |
| Long-Term Debt | $2,309 | $1,459 | $1,250 |
| Other Long-Term Liabilities | $ | $ | $ |
| Total Liabilities | $21,451 | $12,520 | $12,186 |
| Stakeholder's Equity (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Equity | |||
| Common Stock | $1 | $1 | $1 |
| Retained Earnings | $989 | $975 | $918 |
| Equity Summary | |||
| Total Equity | $2,601 | $1,691 | $1,598 |
| Shares Outstanding | 130,489,493 | 75,537,186 | 75,169,196 |