Below are the financial statements of Provident Financial Services, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of USD | 2024 as of 2024-12-31 | 2023 as of 2023-12-31 |
|---|---|---|
| Assets | — | — |
| Cash and due from banks | 205.91a | 180.24a |
| Short-term investments | 0.03a | 0.01a |
| Total cash and cash equivalents | 205.94a | 180.26a |
| Available for sale debt securities, at fair value | 2,768.92a | 1,690.11a |
| Held to maturity debt securities (net of $14,000 allowance as of December 31, 2024 and $31,000 as of December 31, 2023, respectively) | 327.62a | 363.08a |
| Equity securities, at fair value | 19.11a | 1.27a |
| Federal Home Loan Bank and other stock | 112.77a | 79.22a |
| Loans held for sale | 162.45a | 1.79a |
| Loans held for investment | 18,659.37a | 10,871.92a |
| Less allowance for credit losses | -193.43a | -107.2a |
| Net loans | 18,628.39a | 10,766.5a |
| Foreclosed assets, net | 9.47a | 11.65a |
| Banking premises and equipment, net | 119.62a | 71a |
| Accrued interest receivable | 91.16a | 58.97a |
| Goodwill and other intangible assets | 819.23a | 457.94a |
| Bank-owned life insurance | 405.89a | 243.05a |
| Other assets | 543.7a | 287.77a |
| Total assets | 24,051.83a | 14,210.81a |
| Liabilities and stockholders’ equity | — | — |
| Deposits | — | — |
| Demand deposits | 13,775.99a | 8,020.89a |
| Savings deposits | 1,679.67a | 1,175.68a |
| Certificates of deposit of $250 thousand or more | 789.34a | 218.55a |
| Other time deposits | 2,378.81a | 877.39a |
| Total deposits | 18,623.81a | 10,292.51a |
| Mortgage escrow deposits | 42.25a | 36.84a |
| Borrowed funds | 2,020.44a | 1,970.03a |
| Subordinated debentures | 401.61a | 10.7a |
| Other liabilities | 362.52a | 210.13a |
| Total liabilities | 21,450.62a | 12,520.21a |
| Stockholders’ equity | — | — |
| Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued | 0a | 0a |
| Common stock, $0.01 par value, 200,000,000 shares authorized, 137,565,966 shares issued and 130,489,493 shares outstanding as of December 31, 2024, and 75,537,186 shares outstanding as of December 31, 2023 | 1.38a | 0.83a |
| Additional paid-in capital | 1,834.5a | 989.06a |
| Retained earnings | 989.11a | 974.54a |
| Accumulated other comprehensive (loss) income, net of tax | -135.36a | -141.12a |
| Treasury stock | -88.42a | -127.83a |
| Unallocated common stock held by the Employee Stock Ownership Plan | 0a | -4.9a |
| Common stock acquired by deferred compensation plans | 0a | -2.69a |
| Deferred compensation plans | 0a | 2.69a |
| Total stockholders’ equity | 2,601.21a | 1,690.6a |
| Total liabilities and stockholders’ equity | 24,051.83a | 14,210.81a |
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