Investor Relations

Income Statement

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PROVIDENT FINANCIAL SERVICES, INC. (NYSE - PFS)  
 2013 Y2014 Y2015 Y2016 Y2017 Q3 YTD
Source Document12/31/201512/31/201612/31/201612/31/20169/30/2017
Currency CodeUSDUSDUSDUSDUSD
(in thousands)     
      
Interest income 
Real estate secured loans 152,429166,700176,714180,868140,712
Commercial loans 40,42850,11555,34763,02253,884
Consumer loans 23,64423,75522,77021,82915,293
Securities available for sale and Federal Home Loan Bank Stock 25,25026,47523,39822,89019,651
Investment securities held to maturity 10,98712,26313,49413,2089,812
Deposits, Federal funds sold and other short-term investments 395358498898
Total interest income 252,777279,361291,781302,315240,250
Interest expense 
Deposits 18,03115,33214,52116,94714,093
Borrowed funds 18,73625,14027,38026,80119,855
Total interest expense 36,76740,47241,90143,74833,948
Net interest income 216,010238,889249,880258,567206,302
Provision for loan losses 5,5004,6504,3505,4003,700
Net interest income after provision for loan losses 210,510234,239245,530253,167202,602
Non-interest income 
Fees 26,03321,92526,28226,04720,940
Wealth management income 8,0129,42016,83817,55613,314
Bank-owned life insurance 6,5965,6335,3455,4705,291
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 (loss) on securities transactions 9962516546447
Other income 2,9503,9396,1036,2562,804
Total non-interest income 44,15341,16855,22255,39342,396
Non-interest expense 
Compensation and employee benefits 83,00092,21899,689106,14181,086
Net occupancy expense 20,56023,95826,03224,85319,255
Data processing expense 10,55013,66712,69813,22810,302
FDIC insurance 4,6784,6625,0364,8873,065
Amortization of intangibles 1,6242,7574,0663,3912,079
Advertising and promotion expense 3,8905,0084,2263,6852,709
Other operating expenses 24,46127,72128,84227,59321,248
Total non-interest expense 148,763169,991180,589183,778139,744
Income before income tax expense 105,900105,416120,163124,782105,254
Income tax expense 35,36631,78536,44136,98030,788
Net income 70,53473,63183,72287,80274,466
Basic earnings per share 1.231.221.331.381.16
Weighted average basic shares outstanding 57,236,90960,388,39862,945,66963,643,62264,327,640
Diluted earnings per share 1.231.221.331.381.15
Weighted average diluted shares outstanding 57,361,44360,562,07063,114,71863,851,98664,519,710
Consolidated Statements of Comprehensive Income 
Net income 70,53473,63183,72287,80274,466
Other comprehensive income, net of tax 
Unrealized gains and losses on securities available for sale 
Net unrealized gains (losses) arising during the period (19,428)10,692(3,401)(4,431)2,478
Reclassification adjustment for gains included in net income (589)(150)(391)(30)0
Total (20,017)10,542(3,792)(4,461)2,478
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 gains (losses) on derivatives 00(73)242106
Amortization related to post-retirement obligations 7,193(5,662)1,2903,368105
Total other comprehensive income (loss) (12,567)4,880(2,575)(851)2,689
Total comprehensive income 57,96778,51181,14786,95177,155


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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