Provident Financial Services, Inc. (NYSE: PFS) (“Provident” or “the company”) is a holding company, whose main subsidiary, Provident Bank (“the bank”) has $14.2 billion in assets and $10.3 billion in deposits through 94 branches that are primarily located in Central/Northern NJ, with a smaller, yet growing, presence in Eastern PA and NY, specifically the Philadelphia and Long Island markets, the latter strengthened by the recent hire of a CRE team from Signature Bank in 3Q23.
Since 2011, Provident’s growth strategy has included a mix of whole bank and non-bank acquisitions to help supplement organic growth initiatives, which, altogether, has successfully diversified the operating footprint (added $3.0 billion in assets) and strengthened fee income sources. In 3Q22, PFS announced the proposed acquisition of
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