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Here are 1-2 brief analogies for Provident Financial Services (PFS):

• A regional retail bank, similar to a smaller Bank of America or Wells Fargo, focused on communities in New Jersey and Pennsylvania.

• Like a smaller, community-focused version of PNC Bank or US Bancorp.

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• Deposit Accounts: Provides various checking, savings, money market, and certificate of deposit accounts for individuals and businesses to manage their funds.
• Lending Services: Offers a broad range of loans including residential mortgages, commercial real estate loans, commercial business loans, and consumer loans to individuals and businesses.
• Wealth Management: Delivers investment management, financial planning, and trust services to help clients grow and preserve their assets.

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Provident Financial Services (PFS) - Major Customers

Provident Financial Services (PFS) operates primarily through its subsidiary, Provident Bank, which is a community-focused financial institution. As such, it does not have "major customers" in the traditional sense of a manufacturing or service company selling its output to a few large corporate buyers. Instead, it serves a diverse base of individuals and businesses within its operating regions. The company sells primarily to individuals and businesses, and its customer base can be categorized as follows:

1. Retail Banking Customers (Individuals and Households)

• This category includes a broad range of individual consumers and households.
• **Services Provided:** Personal checking and savings accounts, money market accounts, certificates of deposit (CDs), residential mortgages, home equity loans and lines of credit, auto loans, personal loans, and credit cards.

2. Commercial Banking Customers (Businesses)

• This category serves small to medium-sized businesses (SMBs) and larger corporations across various industries.
• **Services Provided:** Commercial checking and savings accounts, treasury management services, commercial real estate loans, commercial and industrial (C&I) loans, lines of credit, equipment financing, and small business administration (SBA) loans.

3. Wealth Management and Trust Customers

• This segment caters to individuals, families, and businesses seeking investment management, financial planning, and trust services. While often overlapping with retail or commercial clients, it represents a distinct set of needs for asset management and financial advisory.
• **Services Provided:** Investment management, financial planning, retirement planning, estate planning, and trust administration services.

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• Fiserv (FISV)

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Anthony J. Labozzetta President and Chief Executive Officer

Mr. Labozzetta has served as President and Chief Executive Officer of Provident Financial Services and Provident Bank since January 2022. He was previously President and Chief Operating Officer of Provident and Provident Bank since August 2020. Before joining Provident, he was the President and Chief Executive Officer of SB One Bancorp and SB One Bank starting in January 2010. SB One Bancorp was acquired by Provident Financial Services, Inc. in July 2020. He also held the position of Executive Vice President at TD Bank from 2006 to 2010. Prior to his banking career, Mr. Labozzetta worked as a certified public accountant with Deloitte LLP.

Thomas M. Lyons Senior Executive Vice President and Chief Financial Officer

Mr. Lyons has been the Senior Executive Vice President and Chief Financial Officer of Provident Financial Services and Provident Bank since January 2019. He previously served as Executive Vice President and Chief Financial Officer of Provident and Provident Bank since January 2011. Prior to his roles at Provident, Mr. Lyons held positions as Chief Financial Officer & Executive Vice President at First Sentinel Bancorp, Inc. and First Savings Bank.

Christopher Martin Executive Chairman

Mr. Martin has served as Executive Chairman of Provident Financial Services since January 2022. He was Chief Executive Officer of Provident and Provident Bank from August 2020 to January 2022, and prior to that, served as Chief Executive Officer and President since September 2009. Mr. Martin previously served as President and Chief Executive Officer of First Sentinel Bancorp, Inc., which was acquired by Provident Financial Services, Inc. in July 2004. He has been in the banking industry for over 34 years and also serves on the board of directors of the Federal Home Loan Bank of New York and the Board of Trustees and Executive Committee for Elon University.

Thomas J. Shara Executive Vice Chairman of the Board

Mr. Shara has served as Executive Vice Chairman of the Board of Provident Financial Services since 2024. Before this, he was the President and Chief Executive Officer of Lakeland and Lakeland Bank. He also held the role of President and Chief Lending Officer of TD Bank's Mid-Atlantic Division.

Vito Giannola Executive Vice President and Chief Banking Officer

Mr. Giannola serves as the Executive Vice President and Chief Banking Officer for Provident Financial Services. Further detailed background information, including founding or managing other companies, selling companies, or private equity backing, was not readily available in the provided search results.

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The key risks to Provident Financial Services (PFS) include the following:

1. Deteriorating Credit Quality and Credit Risk: Provident Financial Services faces challenges related to deteriorating credit quality, with shrinking reserves and a notable amount of classified loans. While there has been a reduction in non-performing assets to total assets ratio, this improvement may mask underlying vulnerabilities, as the company's allowance for credit losses on loans held for investment decreased despite an increase in its single-family loan portfolio. The persistence of classified assets indicates ongoing credit risk, and the reliance on historical loss rate assumptions for credit loss allowance raises questions about preparedness for unexpected defaults.
2. Economic and Interest Rate Fluctuations: The company's financial condition is significantly affected by changes in market interest rates. A low-rate environment can erode its net interest margin, and loan repricing and prepayments pose a threat to margin stability, especially with potential Federal Reserve rate cuts. A flattening or inverted yield curve could negatively impact PFS's net interest margin and earnings, and economic slowdowns or recessions could impair borrowers' ability to repay loans. Navigating the Federal Reserve's monetary policy normalization is considered a primary risk to the company's net interest margin.
3. Shrinking Fee-Based Revenue and Intense Competition: Provident Financial Services' fee-based revenue streams, crucial for income diversification, are experiencing strain. For instance, the Beacon Trust segment reported a 5.2% revenue decline in Q2 2025 due to lower assets under management valuations. The company also faces significant competition from larger commercial banks, savings banks, and non-bank entities that may offer more aggressive deposit and loan pricing or services. This competition, combined with a limited geographic footprint primarily in New Jersey and Pennsylvania, restricts potential market expansion and diversification opportunities, impacting overall growth and profitability.

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The clear emerging threats for Provident Financial Services (PFS) are:

1. The rise of digital-first banks and neobanks: Similar to how Netflix disrupted Blockbuster, fully digital banks (e.g., Ally Bank, Marcus by Goldman Sachs) and neobanks (e.g., Chime, Varo) offer significantly lower overhead, often leading to better interest rates on deposits, lower fees, and superior digital user experiences. These entities are directly challenging traditional regional banks like PFS by attracting customers who prioritize convenience and competitive rates over physical branch access, thereby eroding deposit bases and customer relationships.

2. Specialized fintech platforms for lending: Analogous to Uber disrupting traditional taxicab businesses, specialized online lending platforms are streamlining specific loan products. For instance, digital mortgage originators like Rocket Mortgage provide a faster, more convenient, and often entirely online mortgage application process that can draw customers away from traditional bank mortgage offerings. Similarly, online platforms offering small business loans (e.g., OnDeck, Lendio) provide quicker access to capital for small businesses, challenging PFS's commercial lending segments.

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Provident Financial Services (PFS) offers a range of financial products and services, primarily in Northern and central New Jersey, Queens County, New York, and Eastern Pennsylvania. Their main offerings include personal banking, business banking, and wealth management services. The addressable markets for these services are sized as follows:

Commercial Banking

• United States: The commercial banking market size in the United States is estimated at USD 732.5 billion in 2025, with a forecast to reach USD 915.45 billion by 2030, growing at a CAGR of 4.56%. Another source indicates the US Commercial Banking industry market size is $1.6 trillion in 2025.
• New Jersey: The market size of the Commercial Banking industry in New Jersey is $50.6 billion in 2025.

Retail Banking (Personal Banking)

• United States: The United States retail banking market is valued at USD 0.87 trillion (or $870 billion) in 2025 and is projected to reach USD 1.08 trillion by 2030, reflecting a 4.22% CAGR.

Wealth Management

• United States: The US wealth management market had assets under management (AUM) of $64.4 trillion in 2024, with expectations to reach $87.35 trillion by 2028. Globally, assets under management reached $162 trillion in 2025, with the United States holding 54.2% of the total AUM.
• New Jersey: null

Mortgage and Real Estate Lending

• United States: The US home loan market stood at USD 2.29 trillion in 2025 and is forecasted to grow to USD 3.02 trillion by 2030, advancing at a 5.63% CAGR. Quarterly mortgage originations in the United States increased to USD 512.15 billion in the third quarter of 2025.
• New Jersey: null (The median home sales price in New Jersey was $563,100 in September 2025, but a total market size for mortgage lending in New Jersey is not readily available.)

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Provident Financial Services (NYSE: PFS) is expected to drive future revenue growth over the next 2-3 years through several key strategic initiatives and market dynamics:

1. Commercial Loan Growth: Provident Financial Services has demonstrated a strong focus and success in expanding its commercial loan portfolio, particularly in Commercial & Industrial (C&I) loans. The company closed $742 million in new commercial loans in Q3 2025, contributing to an annualized commercial portfolio growth of 5% and bringing year-to-date production to $2.1 billion. This momentum is expected to continue as a primary driver of interest income.
2. Net Interest Margin (NIM) Expansion driven by Deposit Growth and Rate Environment: The company is prioritizing efficient deposit growth, with core deposits increasing by $291 million or 7.5% annualized in Q3 2025, to fund its loan growth. Management anticipates future benefits to its net interest margin (NIM) from expected Federal Reserve rate reductions, projecting another 25 basis point rate cut in December 2025, and a steepening of the yield curve. Provident Financial Services expects core margin expansion of approximately 3-5 basis points per quarter over the next several quarters.
3. Growth in Non-Interest Income from Wealth Management and Insurance Services: Provident Financial Services is actively pursuing growth in non-interest income. Initiatives such as Provident Protection Plus (insurance services) saw revenues increase by 6.1% compared to the prior year. The company is also making strategic investments in its wealth management arm, Beacon Trust, including the appointment of a new Chief Growth Officer, to enhance services and expand assets under management. Additionally, SBA capabilities are a steady contributor to non-interest income, generating $512,000 in gains on sale in Q3 2025, up from the comparable period last year.
4. Strategic Investments in Talent, Technology, and Operational Efficiency: The company emphasizes ongoing strategic initiatives, including investments in accomplished talent and technology, to ensure sustained growth and profitability. Improvements in operational efficiency, reflected in an improved efficiency ratio, are also a key focus supporting overall financial performance and revenue generation.
5. Expansion of Digital Banking Capabilities and Enhanced Customer Experience: Provident Financial Services is strategically focused on expanding its digital banking capabilities and enhancing the customer experience. These efforts are expected to contribute to increased customer engagement and business growth across its service areas in New Jersey, eastern Pennsylvania, and select New York counties.

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Share Repurchases

• As of December 31, 2020, Provident Financial Services had approximately 260,000 shares remaining under an existing stock repurchase authorization.
• A new stock repurchase program was authorized to commence after the completion of the existing program, allowing for the repurchase of up to 5% of the outstanding shares, or approximately 3.9 million shares.
• In January 2025, the Board of Directors authorized a new stock repurchase plan for up to 5% of the company's common stock, totaling approximately 334,773 shares. This plan demonstrates a commitment to capital efficiency and has seen $3.18 million in repurchases.

Share Issuance

• In 2020, Provident Financial Services issued 12,788,370 shares of common stock in connection with its acquisition of SB One.
• As of September 30, 2025, the company had 137,565,966 shares issued.

Capital Expenditures

• The cash flow for capital expenditures for the trailing twelve months (TTM) ended June 2025 was -$5.35 million.
• For the three months ended June 2025, capital expenditures were -$4.2 million.
• Provident Bank's 2025 annual economic outlook survey indicated business optimism leading to increases in capital spending, including investments in technology.