Investor Relations

Income Statement

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PROVIDENT FINANCIAL SERVICES, INC. (NYSE - PFS)  
 2013 Y2014 Y2015 Y2016 Y2017 Q2 YTD
Source Document12/31/201512/31/201612/31/201612/31/20166/30/2017
Currency CodeUSDUSDUSDUSDUSD
(in thousands)     
      
Consolidated Statements of Income 
Interest income 
Real estate secured loans 152,429166,700176,714180,86893,020
Commercial loans 40,42850,11555,34763,02234,920
Consumer loans 23,64423,75522,77021,82910,210
Securities available for sale and Federal Home Loan Bank Stock 25,25026,47523,39822,89013,111
Investment securities held to maturity 10,98712,26313,49413,2086,540
Deposits, Federal funds sold and other short-term investments 395358498555
Total interest income 252,777279,361291,781302,315158,356
Interest expense 
Deposits 18,03115,33214,52116,9479,105
Borrowed funds 18,73625,14027,38026,80113,161
Total interest expense 36,76740,47241,90143,74822,266
Net interest income 216,010238,889249,880258,567136,090
Provision for loan losses 5,5004,6504,3505,4003,200
Net interest income after provision for loan losses 210,510234,239245,530253,167132,890
Non-interest income 
Fees 26,03321,92526,28226,04713,260
Wealth management income 8,0129,42016,83817,5568,722
Bank-owned life insurance 6,5965,6335,3455,4703,938
Other-than-temporary impairment losses on securities (434)NANANANA
Portion of loss recognized in other comprehensive income (before taxes) 0NANANANA
Net impairment losses on securities recognized in earnings (434)NANANANA
Net gain on securities transactions 9962516546411
Other income 2,9503,9396,1036,2561,353
Total non-interest income 44,15341,16855,22255,39327,284
Non-interest expense 
Compensation and employee benefits 83,00092,21899,689106,14153,758
Net occupancy expense 20,56023,95826,03224,85313,150
Data processing expense 10,55013,66712,69813,2286,988
FDIC insurance 4,6784,6625,0364,8872,098
Amortization of intangibles 1,6242,7574,0663,3911,447
Advertising and promotion expense 3,8905,0084,2263,6851,802
Other operating expenses 24,46127,72128,84227,59314,221
Total non-interest expense 148,763169,991180,589183,77893,464
Income before income tax expense 105,900105,416120,163124,78266,710
Income tax expense 35,36631,78536,44136,98018,819
Net income 70,53473,63183,72287,80247,891
Basic earnings per share 1.231.221.331.380.75
Weighted average basic shares outstanding 57,236,90960,388,39862,945,66963,643,62264,263,065
Diluted earnings per share 1.231.221.331.380.74
Weighted average diluted shares outstanding 57,361,44360,562,07063,114,71863,851,98664,455,873
Consolidated Statements of Comprehensive Income 
Net income 70,53473,63183,72287,80247,891
Other comprehensive income, net of tax 
Unrealized gains and losses on securities available for sale 
Net unrealized gains arising during the period (19,428)10,692(3,401)(4,431)1,999
Reclassification adjustment for gains included in net income (589)(150)(391)(30)0
Total (20,017)10,542(3,792)(4,461)1,999
Other-than-temporary impairment on debt securities available for sale 
Other-than-temporary impairment losses on securities 0NANANANA
Reclassification adjustment for impairment losses included in net income 257NANANANA
Total 257NANANANA
Unrealized (losses) gains on derivatives 00(73)24252
Amortization related to post-retirement obligations 7,193(5,662)1,2903,36869
Total other comprehensive income (12,567)4,880(2,575)(851)2,120
Total comprehensive income 57,96778,51181,14786,95150,011


Data shown on this page is extracted directly from the company’s documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.

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