Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when PFS files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsPFS reports Q2 2026 EPS of $0.61, net interest margin expands to 3.48% on loan repricing
Filed July 30, 2026 · Period ending July 29, 2026 · ~1 min read
Key Changes
-
high
Core diluted EPS of $0.61 with core ROAA of 1.27% and core ROATCE of 16.22%; pre-provision net revenue grew $18.2M or 18.3% year-over-year
Exhibit 99.1 view on EDGAR → -
high
Net interest margin expanded to 3.48% from 3.04% prior quarter, driven by favorable repricing of maturing loans and 4.7% annualized growth in average earning assets to $23.1B
Exhibit 99.1 view on EDGAR → -
high
Total gross loans grew $400M or 8.16% annualized to $20.1B; commercial loan pipeline reached record $3.17B at weighted average rate of 6.33%
Exhibit 99.1 view on EDGAR → -
medium
Total deposits increased $445M or 9.34% annualized to $19.5B; non-interest-bearing core business deposits grew 15.0% annualized while average deposit cost declined 2 bps to 1.92%
Exhibit 99.1 view on EDGAR → -
medium
Repurchased 614,722 shares at average cost of $21.09 with 2.2M shares remaining under authorization; tangible book value per share grew 2% QoQ to $16.42 and 12% YoY
Exhibit 99.1 view on EDGAR →
Summary
Provident Financial Services reported second quarter 2026 results showing meaningful margin expansion and strong loan growth. Core diluted earnings per share of $0.61 reflected a core return on average tangible common equity of 16.22%, with pre-provision net revenue up 18.3% year-over-year.
The standout metric was net interest margin expansion to 3.48% from 3.04% in the prior quarter, driven by favorable repricing of maturing loans as the company's loan book reprices upward in the current rate environment. Loan growth remained robust at 8.16% annualized, with commercial loans growing 9.9% annualized on $696.9 million in new originations.
The commercial loan pipeline reached a record $3.17 billion at a weighted average rate of 6.33%, positioning the company for continued growth. Deposit growth of 9.34% annualized included a 15.0% annualized increase in non-interest-bearing core business deposits, while the average cost of deposits declined 2 basis points to 1.92%. The company continued capital return through share repurchases of 614,722 shares at an average cost of $21.09, with tangible book value per share growing 12% year-over-year to $16.42.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
PFS furnishes Q2 2026 earnings presentation materials under Regulation FD.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
Provident Financial Services, Inc. (the "Company") is furnishing presentation materials to be used in tandem with the Company's second quarter earnings release, which will be filed on July 30, 2026.
The company is providing supplemental presentation materials alongside its second quarter 2026 earnings release. These materials are furnished under Regulation FD to ensure fair disclosure to all investors simultaneously. The presentation is attached as Exhibit 99.1 and is not considered a formal SEC filing.
Event · Exhibit 99.1
Provident Financial Services reported Q2 2026 results with core diluted EPS of $0.61, expanding net interest margin to 3.48%, and strong loan growth of 8.16% annualized.
Added in current filing · view on EDGAR → · paraphrased
Core Diluted EPS $0.61 ... Core ROAA 1.27% ... Core PPNR ROAA 1.87% ... Core ROATCE 16.22%
Provident Financial Services disclosed second quarter 2026 results with core diluted earnings per share of $0.61, core return on average assets of 1.27%, core pre-provision net revenue return on average assets of 1.87%, and core return on average tangible common equity of 16.22%. These metrics reflect expanding profitability year-over-year, with PPNR growth of $18.2 million or 18.3% compared to the prior year quarter.
Added in current filing · view on EDGAR →
Net interest income growth of 8% year-over-year benefited from higher net interest margin and earning assets. ... Favorable repricing of maturing loans contributed to core net interest margin expansion in Q2. ... 3.48%
The company reported net interest income growth of 8% year-over-year, with the core net interest margin expanding to 3.48% in Q2 2026 from 3.04% in the prior quarter. This expansion was driven by favorable repricing of maturing loans and growth in average interest-earning assets, which increased $272 million or 4.7% annualized from $23.1 billion in the previous quarter.
Added in current filing · view on EDGAR →
Strong loan growth activity continued, with total commercial loans increasing 9.9% QoQ annualized and our total loan pipeline remaining strong at a record $3.17 billion with a weighted average rate of 6.33%. ... Total Gross Loans 20,059$ 19,659$ 400$ 8.16%
Total gross loans grew to $20.059 billion, an increase of $400 million or 8.16% annualized from the prior quarter. Commercial loans increased 9.9% annualized, driven by $696.9 million in new originations. The commercial loan pipeline reached a record $3.17 billion with a weighted average interest rate of 6.33%, indicating continued strong lending activity.
Added in current filing · view on EDGAR →
Total non-maturity business deposits increased $123.0 million QoQ, while total municipal deposits decreased $228 million QoQ mainly due to seasonal outflows. ... Total deposits 19,545$ 19,100$ 445 9.34%
Total deposits increased $445 million or 9.34% annualized to $19.545 billion. Non-interest-bearing core business deposits grew $96 million or 15.0% annualized, while municipal deposits decreased $228 million due to seasonal outflows. Wholesale deposits increased $618 million. The average cost of deposits, including non-interest-bearing deposits, decreased 2 basis points to 1.92% for the quarter.
Added in current filing · view on EDGAR → · paraphrased
Stock buybacks of 614,722 shares at an average cost of $21.09 per share. 2.2M shares remaining ... TBV grew 2% to $16.42 QoQ & 12% YoY.
The company repurchased 614,722 shares at an average cost of $21.09 per share during the quarter, with 2.2 million shares remaining under the buyback authorization. Tangible book value per share grew 2% quarter-over-quarter to $16.42 and 12% year-over-year. Capital ratios remain strong, with a tangible common equity ratio of 8.60% and total risk-based capital ratio of 13.0%.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Jul 31, 2026 · How we verify