Provident Financial Services Inc
provident.bankWhat Do They Do?
Provides banking, wealth management and insurance services to individuals, families and businesses.
10-K for FY2025, filed Feb 27, 2026
How Do They Make Money?
The Bank earns interest on loans and investments. Wealth clients pay asset-based fees monthly; insurance agency commissions are tied to policy effective dates or installment invoices; banking fees are collected at transactions or monthly.
10-K for FY2025, filed Feb 27, 2026The Company generates revenue from several business channels. The guidance in ASU 2014-09, Revenue from Contracts with Customers (Topic…View ↗
Wealth management fee income represents fees earned from customers as consideration for asset management, investment advisory and trust…View ↗
Insurance agency income, consisting of commissions and fees, is generally recognized as of the effective date of the insurance policy.…View ↗
Service charges on deposit accounts include overdraft service fees, account analysis fees and other deposit related fees. These fees are…View ↗
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10-K for FY2025, filed Feb 27, 2026
FY2025 revenue by product or service ↗
$73.1M
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10-K for FY2025, filed Feb 27, 2026
$73.1M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Wealth management fees
Recurring
10-K for FY2025, filed Feb 27, 2026 |
40%
FY2022: 51%
|
Wealth management fees, FY2025
$29.3M Sources
|
Recurring |
|
Insurance agency income
Sold outright
10-K for FY2025, filed Feb 27, 2026 |
25%
FY2022: 21%
|
Insurance agency income, FY2025
$18.3M Sources
|
Sold outright |
|
Banking service charges and other fees:
|
35%
FY2022: 29%
|
Banking service charges and other fees:, FY2025
$25.6M Sources
|
Who Are Their Customers?
The Bank serves individuals, families and businesses in its markets through branches and mobile, digital and telephone services.
10-K for FY2025, filed Feb 27, 2026
Do Revenues Turn Into Profits?
Yes. Its net income in FY2025 was larger than its revenue and turned 589 cents into free cash flow.
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 7, 2026
Open tableView ↗
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Jun 23, 2026
Adriano Duarte appointed chief financial officer
He was appointed effective July 1, 2026.
Sources
8-K, filed Jun 23, 2026
(c) On June 23, 2026, Adriano Duarte CPA, currently Executive Vice President and Chief Accounting Officer of the Company, was appointed to…View ↗
Growing. Revenue grew 27% in 4 years, from $57.6M in FY2021 to $73.1M in FY2025, about 6% a year.
Mortgage sale approach
The older report says the Bank generally sells longer-term fixed-rate residential mortgages; the latest describes selling them as an option and notes it commonly retains some fixed-rate and adjustable-rate mortgages.
10-K for FY2022, filed Mar 1, 2023 10-K for FY2025, filed Feb 27, 2026Residential mortgage loans are primarily underwritten to standards that allow the sale of the loans to the secondary markets, primarily to…View ↗
Residential mortgage loans are primarily underwritten to standards that allow the sale of the loans to the secondary markets, primarily to…View ↗
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