Provident Financial Services offers subordinated notes due 2036; net proceeds of $150M to repay existing debt

Filed August 20, 2026 · ~2 min read

Key Changes

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  Provident Financial Services is offering subordinated notes due 2036 with a fixed-to-floating rate structure (fixed until 2031, then Three-Month Term SOFR plus a spread). Specific offering size, interest rate, and pricing date are not yet disclosed in this preliminary 424B5.

  The Offering verify on EDGAR →
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  Net proceeds of $150M will repay $150M of 2031 Notes (2.875% fixed, maturing September 2031) and $20M of 2033 Notes (SOFR + 3.10%, maturing June 2033), both conditionally redeemed August 13, 2026, plus general corporate purposes.

  Use of Proceeds verify on EDGAR →
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  The notes are unsecured subordinated obligations at the holding company, structurally subordinated to $22.4 billion of bank subsidiary liabilities (primarily deposits). At the holding company level, they rank equally with $375M of existing subordinated debt and senior to $60.5M of trust preferred securities.

  Risk Factors verify on EDGAR →