PROVIDENT FINANCIAL SERVICES INC — Form 8-K
Filed October 29, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 28/100
What the filing says
Provident Financial reported Q3 2026 net income of $69.2M ($0.53/share), down from $78.1M ($0.60/share) in Q2 2026, impacted by a $17.5M one-time loss on debt extinguishment, $3.7M core conversion costs, and $465K branch restructuring. Excluding non-core items, core net income was $84.3M ($0.65/share). Record revenues and 10% YoY PPNR growth driven by strong spread and fee businesses; core deposits grew nearly 6% annualized to $15.42B. Loan pipeline reached $3.03B with weighted average rate near 6.50%.
Why this rating
One-time $17.5M debt loss is ~0.8% of market cap; core operations solid. System conversion done. Non-core charges mask underlying business—core ROAA 1.30%, PPNR growth 10% YoY. Deposit/loan growth modest. No material impact to trajectory.
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