Form 8-K

8-K — PROVIDENT FINANCIAL SERVICES INC

Accession: 0001628280-26-050914

Filed: 2026-07-30

Period: 2026-07-29

CIK: 0001178970

SIC: 6035 (SAVINGS INSTITUTION, FEDERALLY CHARTERED)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — pfs-20260729.htm (Primary)

EX-99.1 (a063026earningsreleasenew.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: pfs-20260729.htm · Sequence: 1

pfs-20260729

FALSE000117897000011789702026-07-292026-07-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 29, 2026

PROVIDENT FINANCIAL SERVICES, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware

001-31566

42-1547151

(State or Other Jurisdiction of Incorporation)

(Commission File No.)

(I.R.S. Employer Identification No.)

239 Washington Street, Jersey City, New Jersey

07302

(Address of Principal Executive Offices)

(Zip Code)

Registrant's telephone number, including area code 732-590-9200

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17

CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17

CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Symbol(s)

Name of each exchange on which registered

Common

PFS

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operation and Financial Condition.

On July 29, 2026, Provident Financial Services, Inc. (the “Company”) issued a press release reporting its financial results for the three and six months ended June 30, 2026. A copy of the press release is attached as Exhibit 99.1 to this report and is being furnished to the SEC and shall not be deemed “filed” for any purpose.

Item 7.01 Regulation FD Disclosure.

On July 30, 2026, the Company held a conference call to discuss its financial results for the three and six months ended June 30, 2026, including the press release relating to the Company and attached as Exhibit 99.1 to this report.

Item 9.01. Financial Statements and Exhibits

(a) Financial Statements of Businesses Acquired. Not applicable.

(b) Pro Forma Financial Information. Not applicable.

(d) Exhibits.

Exhibit No. Description

99.1 Press release issued by the Company on July 29, 2026 announcing its financial results for the three and six months ended June 30, 2026.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

PROVIDENT FINANCIAL SERVICES, INC.

DATE:

July 30, 2026 By: /s/ Anthony J. Labozzetta

Anthony J. Labozzetta

President and Chief Executive Officer

EX-99.1

Filename: a063026earningsreleasenew.htm · Sequence: 2

Document

Provident Financial Services, Inc. Reports Second Quarter Earnings

ISELIN, NJ, July 29, 2026 - Provident Financial Services, Inc. (NYSE:PFS) (the “Company”) reported net income of $78.1 million, or $0.60 per basic and diluted share for the three months ended June 30, 2026, compared to $79.4 million, or $0.61 per basic and diluted share, for the three months ended March 31, 2026 and $72.0 million, or $0.55 per basic and diluted share, for the three months ended June 30, 2025. For the six months ended June 30, 2026, net income totaled $157.6 million, or $1.21 per basic and diluted share, compared to $136.0 million, or $1.04 per basic and diluted share, for the six months ended June 30, 2025. For the three and six months ended June 30, 2026, core net income (1), which has been adjusted for one-time core system conversion and executive severance expenses, totaled $79.9 million, or $0.61 per basic and diluted share and $159.3 million, or $1.22 per basic and diluted share, respectively.

Core pre-provision, net revenue ("PPNR") (2) for the three months ended June 30, 2026 was $117.8 million, or $0.90 per basic and diluted share for the three months ended June 30, 2026, compared to $99.6 million, or $0.76 per basic and diluted share, for the three months ended June 30, 2025. Increases in both net income and core PPNR were driven primarily by expanding net interest income and higher non-interest income, including higher wealth management and insurance agency income.

Anthony J. Labozzetta, President and Chief Executive Officer commented, “Through the first half of 2026, Provident has grown earnings per share 17% year-over-year while also significantly improving our profitability and building capital. We achieved record pre-provision net revenue during the second quarter, driven by strong commercial loan production, expanding core margin and increasing contribution from non-interest income, which represented nearly 14% of total revenues. We are proud of the noticeable momentum of our organization, and I’m optimistic that we will continue to drive organic growth with an unchanged commitment to achieving top quartile risk-adjusted returns."

Key Points for the Second Quarter

•Expanding Core Profitability with Record Revenue

◦Annualized core return on average assets ("ROAA") (3) and net interest margin improved to 1.27% and 3.48%, respectively, from 1.19% and 3.36% in the prior year quarter. A reconciliation between GAAP and the above non-GAAP ratios is shown on page 2 of the earnings release.

◦Core net interest margin, which excludes the impact of purchase accounting accretion and amortization and interest recovery on resolved non-performing loans, increased 5 basis points from the trailing quarter to 3.09% and 16 basis points from the prior year quarter.

◦Core PPNR (2) growth of $18.2 million from the prior year quarter, resulting in a 23 basis point expansion of PPNR ROAA to 1.87%. A reconciliation between GAAP and the above non-GAAP ratios is shown on page 2 of the earnings release.

◦Record net-interest income increased $15.6 million to $202.7 million when compared to the prior year quarter, driven primarily by growth in our earning assets and an expanded net interest margin.

◦Record non-interest income increased $4.9 million to $32.0 million when compared to the prior year quarter, driven primarily by growth in loan related fee income, swap fee income, wealth management and insurance agency income.

•Strong Loan Growth Trends with Low Net Charge-Offs

◦Total commercial loans, including mortgage warehouse lines, commercial mortgage, multi-family and construction loans, increased 9.9% annualized for the quarter.

◦Our record pipeline totaled $3.17 billion as of June 30, 2026, with a weighted average interest rate of 6.33%. Both the CRE and C&I pipelines exceeded $1.0 billion for the second consecutive quarter,

reflecting the investments we have made in our commercial banking group to generate sustainable, diversified loan growth.

◦Non-performing loans declined $6.0 million compared to the trailing quarter to $136.9 million. Net charge-offs of $1.9 million and $5.0 million for the quarter and six months ended June 30, 2026, represent an annualized 4 and 5 basis points of average loans, respectively.

•Building Capital Position further Strengthening the Balance Sheet

◦Tangible book value ("TBV") per share (4) grew 2% to $16.42 quarter over quarter and grew 12% year over year.

◦Tangible common equity ratio (4) has grown consistently, increasing from 8.03% as of June 30, 2025, to 8.60% as of June 30, 2026.

◦Common Equity Tier One and Total Risk Based Capital ratios for Provident Bank were above well-capitalized at 12.1% and 13.0% as of June 30, 2026, respectively.

◦The Company's adjusted CRE concentration ratio, excluding purchase accounting adjustments as of June 30, 2026 was 399.7%, compared to 399.5% as of December 31, 2025.

Second Quarter 2026 Financial Highlights and Key Performance Indicators (KPIs):

For the Quarter Ended

June 30, March 31, December 31, September 30, June 30,

2026 2026 2025 2025 2025

Annualized return on average assets 1.24 % 1.29 % 1.34 % 1.16 % 1.19 %

Annualized core return on average assets (3)

1.27 % 1.29 % 1.34 % 1.16 % 1.19 %

Annualized return on average equity 10.82 % 11.21 % 11.78 % 10.39 % 10.76 %

Annualized core return on average equity (3)

11.05 % 11.21 % 11.78 % 10.39 % 10.76 %

Annualized return on average tangible equity (5)

15.90 % 16.58 % 17.58 % 16.01 % 16.79 %

Annualized core return on average tangible equity (3)

16.22 % 16.58 % 17.58 % 16.01 % 16.79 %

Annualized core non-interest expense to average assets (6)

1.85 % 1.90 % 1.84 % 1.83 % 1.89 %

Core efficiency ratio (7)

49.75 % 52.02 % 50.97 % 51.01 % 53.52 %

Non-performing loans to total loans 0.68 % 0.73 % 0.40 % 0.52 % 0.56 %

Non-performing assets to total assets 0.54 % 0.58 % 0.32 % 0.41 % 0.44 %

Allowance for loan losses to total non-performing loans 134.87 % 123.84 % 235.61 % 186.21 % 175.32 %

Allowance for loan losses to total loans 0.92 % 0.90 % 0.95 % 0.97 % 0.98 %

Annualized net loan charge-offs to average total loans 0.04 % 0.06 % 0.09 % 0.11 % 0.03 %

Average yield on interest-earning assets 5.61 % 5.53 % 5.66 % 5.76 % 5.68 %

Average cost of interest-bearing liabilities 2.71 % 2.71 % 2.83 % 2.96 % 2.94 %

Net interest margin 3.48% 3.40% 3.44% 3.43% 3.36%

Annualized core PPNR return on average assets (2)

1.87 % 1.75 % 1.78 % 1.76 % 1.64 %

Annualized core PPNR return on average equity (2)

16.30 % 15.25 % 15.68 % 15.74 % 14.88 %

Annualized core PPNR return on average tangible equity (2)

22.21 % 20.93 % 21.78 % 22.20 % 21.26 %

Balance Sheet Summary

Assets:

◦Total assets as of June 30, 2026 were $25.66 billion, compared to $24.98 billion as of December 31, 2025.

▪Total investment securities were $3.57 billion as of June 30, 2026, compared to $3.47 billion as of December 31, 2025. The increase in investment securities was primarily due to purchases of mortgage-backed securities, partially offset by an increase in unrealized losses on available for sale debt securities.

▪Loans held for investment totaled $20.05 billion as of June 30, 2026, and $19.50 billion as of December 31, 2025, with net increases of $407.6 million of commercial loans, $139.5 million of multi-family loans and $103.8 million of commercial mortgage loans, partially offset by net decreases of $43.1 million of mortgage warehouse lines, $35.6 million of residential mortgage loans, $23.2 million of construction loans and $5.1 million of consumer loans.

◦Total commercial loans, including mortgage warehouse lines, commercial mortgage, multi-family and construction loans, represented 87.3% of the loan portfolio as of June 30, 2026, compared to 86.7% as of December 31, 2025.

◦Loan funding, including advances on lines of credit, totaled $5.28 billion as of June 30, 2026, compared with $4.30 billion for the same period in 2025.

◦The Company’s unfunded loan commitments totaled $4.07 billion, including commitments of $2.37 billion in commercial loans, $717.0 million in construction loans and $283.5 million in commercial mortgage loans. Unfunded loan commitments as of December 31, 2025 and June 30, 2025 were $3.71 billion and $3.74 billion, respectively.

June 30, 2026 March 31, 2026 December 31, 2025

(Dollars in thousands)

Mortgage loans:

Commercial $ 7,502,579 $ 7,423,652 $ 7,398,792

Multi-family 3,806,823 3,724,236 3,667,337

Construction 638,933 640,929 662,112

Residential 1,938,704 1,960,861 1,974,324

Total mortgage loans 13,887,039 13,749,678 13,702,565

Commercial loans 5,251,096 4,966,608 4,843,466

Mortgage warehouse lines 313,934 334,505 357,051

Consumer loans 607,373 608,016 612,431

Total gross loans 20,059,442 19,658,807 19,515,513

Premiums on purchased loans 1,663 1,700 1,524

Net deferred fees and unearned discounts (15,353) (12,805) (12,976)

Total loans $ 20,045,752 $ 19,647,702 $ 19,504,061

Liabilities and Capital:

◦Total deposits were $19.55 billion as of June 30, 2026, compared to $19.28 billion as of December 31, 2025. Total savings and demand deposit accounts increased $110.3 million to $16.10 billion as of June 30, 2026, while total time deposits increased $156.2 million to $3.44 billion as of June 30, 2026. The increase in savings and demand deposits was largely attributable to a $351.4 million increase in money market deposits and a $94.1 million increase in non-interest bearing demand deposits, partially offset by a $328.7 million decrease in interest bearing demand deposits. Within interest bearing demand deposits, municipal deposits decreased $443.4 million, primarily due to seasonal outflows. To assist in funding the aforementioned seasonal outflows, brokered time deposits increased by $149.3 million.

June 30, 2026 March 31, 2026 December 31, 2025

(Dollars in thousands)

Non-interest bearing $ 3,808,318 3,716,536 3,714,253

Savings 1,582,750 1,624,122 1,589,259

Money market 4,044,648 3,846,653 3,693,285

Negotiable Order of Withdrawal ("NOW") 6,665,950 6,723,369 6,994,610

Certificates of deposit

3,443,503 3,189,622 3,287,276

Total deposits $ 19,545,169 19,100,302 19,278,683

◦Borrowed funds totaled $2.41 billion as of June 30, 2026, compared to $2.11 billion as of December 31, 2025. The increase in borrowed funds was largely used to fund asset growth and seasonal outflows in municipal deposits. Borrowed funds represented 9.4% of total assets as of June 30, 2026, an increase from 8.5% as of December 31, 2025.

◦Stockholders’ equity totaled $2.91 billion compared to $2.83 billion as of December 31, 2025, primarily due to net income earned for the period, partially offset by cash dividends paid to stockholders and an increase in unrealized losses on available for sale debt securities.

▪For the three and six months ended June 30, 2026, common stock repurchases totaled 25,799 shares at an average cost of $22.15 per share and 614,722 shares at an average cost of $21.09 per share, respectively. As of June 30, 2026, approximately 2,199,471 shares remained eligible for repurchase under the current stock repurchase authorization.

▪Book value per share and TBV per share(4) as of June 30, 2026 were $22.29 and $16.42, respectively, compared with $21.69 and $15.70, respectively, as of December 31, 2025.

Asset Quality:

◦The Company’s total non-performing loans as of June 30, 2026 were $136.9 million, or 0.68% of total loans held for investment, compared to $142.9 million, or 0.73% of total loans as of March 31, 2026 and $78.4 million, or 0.40% of total loans as of December 31, 2025. The allowance for credit losses on loans represented 134.87% of non-performing loans, compared to 235.61% at December 31, 2025, and 175.32% at June 30, 2025.

◦As of June 30, 2026, impaired loans totaled $121.2 million with related specific reserves of $3.8 million, compared with impaired loans totaling $128.4 million with related specific reserves of $1.6 million as of March 31, 2026. As of December 31, 2025, impaired loans totaled $63.3 million with related specific reserves of $5.9 million.

◦As of June 30, 2026, the Company’s allowance for credit losses related to the loan portfolio was 0.92% of total loans, compared to 0.90% and 0.95% as of March 31, 2026 and December 31, 2025, respectively. The allowance for credit losses decreased $111,000 to $184.7 million as of June 30, 2026, from $184.8 million as of December 31, 2025. The decrease in the allowance for credit losses on loans as of June 30, 2026 compared to December 31, 2025 was due to net charge-offs of $5.0 million, partially offset by a $4.9 million provision for credit losses on loans.

The following table sets forth accruing past due loans and non-accrual loans held for investment on the dates indicated, as well as delinquency statistics and certain asset quality ratios.

June 30, 2026 March 31, 2026 December 31, 2025

Number

Loans

Principal

Balance

of Loans

Number

Loans

Principal

Balance

of Loans

Number

Loans

Principal

Balance

of Loans

(Dollars in thousands)

Accruing past due loans:

30 to 59 days past due:

Commercial mortgage loans 3 $ 2,301 4 $ 2,665 8 $ 15,652

Multi-family mortgage loans 1 1,570 1 694 — —

Construction loans — — 1 6,639 — —

Residential mortgage loans 27 6,393 25 5,123 34 8,344

Total mortgage loans 31 10,264 31 15,121 42 23,996

Commercial loans 5 1,474 22 10,359 9 1,303

Consumer loans 31 1,401 42 3,588 49 2,209

Total 30 to 59 days past due 67 $ 13,139 95 $ 29,068 100 $ 27,508

60 to 89 days past due:

Commercial mortgage loans — $ — — $ — — $ —

Multi-family mortgage loans — — — — 1 932

Construction loans — — — — — —

Residential mortgage loans 20 5,929 22 6,893 16 4,177

Total mortgage loans 20 5,929 22 6,893 17 5,109

Commercial loans 4 828 6 2,520 3 633

Consumer loans 13 1,577 12 634 14 781

Total 60 to 89 days past due 37 8,334 40 10,047 34 6,523

Total accruing past due loans 104 $ 21,473 135 $ 39,115 134 $ 34,031

Non-accrual:

Commercial mortgage loans 8 $ 21,338 9 $ 21,977 11 $ 26,856

Multi-family mortgage loans 1 266 1 275 3 2,268

Construction loans 1 2,854 1 3,278 1 5,159

Residential mortgage loans 32 7,834 27 8,669 32 9,062

Total mortgage loans 42 32,292 38 34,199 47 43,345

Commercial loans 71 103,383 41 107,398 28 33,219

Consumer loans 17 1,210 23 1,327 27 1,856

Total non-accrual loans 130 $ 136,885 102 $ 142,924 102 $ 78,420

Non-performing loans to total loans held for investment 0.68 % 0.73 % 0.40 %

Allowance for loan losses to total non-performing loans 134.87 % 123.84 % 235.61 %

Allowance for loan losses to total loans 0.92 % 0.90 % 0.95 %

As of June 30, 2026 and December 31, 2025, the Company held foreclosed assets of $1.0 million and $2.0 million, respectively. Foreclosed assets as of June 30, 2026 was comprised of one commercial real estate property. Total non-performing assets at June 30, 2026 increased $57.4 million to $137.9 million, or 0.54% of total assets, from $80.4 million, or 0.32% of total assets at December 31, 2025.

Results of Operations

Second quarter of 2026 compared to the first quarter of 2026:

Net interest income

◦Net interest income was $202.7 million, compared to $193.7 million. The increase was primarily due to originations of new loans at current market rates and the favorable repricing of adjustable rate loans.

◦Net interest margin was 3.48%, compared to 3.40%. The yield on interest-earning assets increased 8 basis points to 5.61%, while the cost of interest-bearing liabilities remained at 2.71%. The cost of total deposits, which includes non-interest bearing deposits, was 1.92%, compared to 1.94%.

◦Average loans totaled $19.57 billion, an increase of $214.7 million, or 4.44%, primarily due to strong commercial loan growth in the quarter.

◦Average total deposits totaled $19.23 billion compared to $19.24 billion.

Provision for credit losses

◦The provision for credit losses was $9.3 million, compared to a $2.1 million recapture of previous provisions for credit losses in the prior quarter. The provision for credit losses in the second quarter consisted of a $9.6 million provision related to loans, partially offset by a $0.2 million recapture of provision related to off-balance sheet credit exposures, compared with a $4.7 million recapture of provision for credit losses on loans, partially offset by a $2.5 million provision related to off-balance sheet credit exposures for the prior quarter. The increase in the provision for credit losses was primarily due to overall growth in the loan portfolio, combined with an increase in specific reserves on individually evaluated loans.

◦Net charge-offs were $1.9 million, compared to $3.1 million in the prior quarter, while the ratio of net charge-offs to average loans was 0.04%, compared to 0.06% in the prior quarter.

Non-interest income and non-interest expense

◦Total non-interest income was $32.0 million, compared to $31.5 million, an increase of $0.5 million. The increase was primarily driven by a $1.8 million increase in fee income, partially offset by a $1.4 million decrease in insurance agency income. The increase in fee income was primarily related to increases in loan related fee income and deposit fee income. The decrease in insurance agency income was mainly due to the receipt of contingent commissions in the prior quarter.

◦Total non-interest expense was $119.3 million, compared to $117.1 million, an increase of $2.1 million. The increase was mainly due to $1.5 million related to costs associated with our ongoing core system conversion, combined with an increase in severance expense.

◦The Company’s annualized core non-interest expense as a percentage of average assets(6) totaled 1.85% for the quarter ended June 30, 2026, compared to 1.90% for the trailing quarter. The core efficiency ratio (core non-interest expense divided by the sum of net interest income and core non-interest income)(7) was 49.75% for the three months ended June 30, 2026, compared to 52.02% for the trailing quarter.

Income tax expense

Income tax expense was $27.9 million, compared to $30.8 million, and the effective tax rate was 26.3%, compared to 27.9%. The decrease in income tax expense was primarily related to a decrease in pre-tax book income, combined with discrete items related to benefits associated with carry-back tax credits, partially offset by the effects of recent legislation adopted by New Jersey with regard to net operating loss usage. The effective tax rate change was primarily related to the aforementioned discrete items.

Second quarter of 2026 compared to the second quarter of 2025:

Net interest income

◦Net interest income was $202.7 million, compared to $187.1 million. The increase was primarily due to originations of new loans at current market rates, combined with favorable repricing of deposits.

◦Net interest margin was 3.48%, compared to 3.36%. The yield on interest-earning assets decreased seven basis points to 5.61%, while the cost of interest-bearing liabilities decreased 23 basis points to

2.71%. The cost of total deposits, which includes non-interest bearing deposits, was 1.92%, compared to 2.10%.

◦Average loans totaled $19.57 billion, an increase of $742.0 million, or 3.94%, primarily due to strong loan growth in the quarter.

◦Average total deposits totaled $19.23 billion, an increase of $807.8 million, or 4.39%.

Provision for credit losses

◦The provision for credit losses was $9.3 million, compared to a $2.9 million recapture of previous provisions for credit losses for the same period last year. The provision for credit losses in the second quarter consisted of a $9.6 million provision related to loans, partially offset by a $0.2 million recapture of provision related to off-balance sheet credit exposures, compared with a $2.7 million and a $0.2 million recapture of provision for credit losses on loans and off-balance sheet credit exposures for the same period last year. The increase in the provision for credit losses was primarily due to overall growth in the loan portfolio, combined with an increase in specific reserves on individually evaluated loans.

◦Net charge-offs were $1.9 million, compared to $1.2 million a year ago, while the ratio of net charge-offs to average loans was 0.04%, compared to 0.03% a year ago.

Non-interest income and non-interest expense

◦Total non-interest income was $32.0 million, compared to $27.1 million, an increase of $4.9 million. The increase was primarily driven by a $1.5 million increase in fee income, a $1.2 million increase in BOLI income and a $1.1 million increase in other non-interest income. The increase in fee income was primarily related to an increase in loan related fee income. The increase in BOLI income was primarily related to an increase in benefit claims, while the increase in other non-interest income was mainly due to an increase in swap fee income.

◦Total non-interest expense was $119.3 million, compared to $114.6 million, an increase of $4.6 million. The increase was primarily driven by a $4.0 million increase in compensation and benefits expense, partially due to an increase in severance expense, and $1.5 million related to costs associated with our ongoing core system conversion, partially offset by a $0.9 million decrease in amortization of intangibles primarily due to a scheduled reduction in the rate of core deposit intangible amortization related to the merger with Lakeland.

◦The Company’s annualized core non-interest expense as a percentage of average assets(6) totaled 1.85% for the quarter ended June 30, 2026, compared to 1.89% for the same period last year. The core efficiency ratio (core non-interest expense divided by the sum of net interest income and core non-interest income)(7) was 49.75% for the three months ended June 30, 2026, compared to 53.52% for the same period last year.

Income tax expense

◦Income tax expense was $27.9 million, compared to $30.5 million, and the effective tax rate was 26.3%, compared to 29.7%. The decrease in income tax expense and the effective tax rate was primarily related to discrete items related to benefits associated with carry-back tax credits and purchases of current year tax credits, partially offset by effects of recently adopted New Jersey legislation with regard to net operating loss usage.

About the Company

Provident Financial Services, Inc. is the holding company for Provident Bank, a community-oriented bank offering "Commitment you can count on" since 1839. Provident Bank provides a comprehensive array of financial products and services through its network of branches throughout New Jersey, Bucks, Lehigh and Northampton counties in Pennsylvania, as well as Orange, Queens and Nassau Counties in New York. The Bank also provides fiduciary and

wealth management services through its wholly owned subsidiary, Beacon Trust Company and insurance services through its wholly owned subsidiary, Provident Protection Plus, Inc.

Post Earnings Conference Call

Representatives of the Company will hold a conference call for investors on Thursday, July 30, 2026 at 10:00 a.m. Eastern Time to discuss the Company’s financial results for the quarter ended June 30, 2026. The call may be accessed by dialing 1-833-461-5787 (United States Toll Free) and 1-626-884-3620 (United States Local). Speakers will need to enter meeting ID code (216 708 612) before being met by a live operator. Internet access to the call is also available (listen only) at provident.bank by going to Investor Relations and clicking on "Webcast."

A supplemental 2nd Quarter 2026 results investor presentation is also available on our investor relations website under “Presentations.”

Forward Looking Statements

Certain statements contained herein are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as “may,” “will,” “believe,” “expect,” “estimate,” "project," "intend," “anticipate,” “continue,” or similar terms or variations on those terms, or the negative of those terms. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, those set forth in Item 1A of the Company's Annual Report on Form 10-K, as supplemented by its Quarterly Reports on Form 10-Q, and those related to the economic environment, particularly in the market areas in which the Company operates, inflation and unemployment, competitive products and pricing, real estate values, fiscal and monetary policies of the U.S. Government, tariffs, changes in accounting policies and practices that may be adopted by the regulatory agencies and the accounting standards setters, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, potential goodwill impairment, acquisitions and the integration of acquired businesses, credit risk management, asset-liability management, the financial and securities markets and the availability of and costs associated with sources of liquidity.

The Company cautions readers not to place undue reliance on any such forward-looking statements which speak only as of the date they are made. The Company advises readers that the factors listed above could affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not assume any duty, and does not undertake, to update any forward-looking statements to reflect events or circumstances after the date of this statement.

Non-GAAP Financial Measures

(1) Core net income, pre-provision, net-revenue annualized core return on average assets, annualized return on average tangible equity, tangible common equity capital ratio, tangible book value per share, annualized core non-interest expense as a percentage of average assets and the core efficiency ratio are non-GAAP financial measures. Please refer to the Notes following the Consolidated Financial Highlights which contain the reconciliation of GAAP to non-GAAP financial measures and the associated calculations.

PROVIDENT FINANCIAL SERVICES, INC. AND SUBSIDIARY

Consolidated Statements of Financial Condition

June 30, 2026 (Unaudited) and December 31, 2025

(Dollars in Thousands)

Assets June 30, 2026 December 31, 2025

Cash and cash equivalents $ 228,293 $ 211,484

Available for sale debt securities, at fair value 3,286,456 3,164,756

Held to maturity debt securities, (net of $22,000 allowance as of June 30, 2026 (unaudited) and $16,000 allowance as of December 31, 2025)

266,224 282,127

Equity securities, at fair value 20,108 19,875

Federal Home Loan Bank stock 130,672 115,687

Loans held for sale 5,478 14,710

Loans held for investment 20,045,752 19,504,061

Less allowance for credit losses 184,656 184,767

Net loans 19,866,574 19,334,004

Foreclosed assets, net 963 2,015

Banking premises and equipment, net 112,197 113,328

Accrued interest receivable 98,118 95,798

Intangible assets 765,019 782,152

Bank-owned life insurance 415,256 414,371

Other assets 473,478 445,113

Total assets $ 25,663,358 $ 24,980,710

Liabilities and Stockholders' Equity

Deposits:

Demand deposits $ 14,518,916 $ 14,402,148

Savings deposits 1,582,750 1,589,259

Certificates of deposit of $250,000 or more 965,698 929,989

Other time deposits 2,477,805 2,357,287

Total deposits 19,545,169 19,278,683

Mortgage escrow deposits 47,779 40,253

Borrowed funds 2,407,532 2,111,955

Subordinated debentures 409,065 406,582

Other liabilities 346,828 310,025

Total liabilities 22,756,373 22,147,498

Stockholders' equity:

Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued — —

Common stock, $0.01 par value, 200,000,000 shares authorized, 137,565,966 shares issued and 130,423,051 shares outstanding as of June 30, 2026 and 130,619,949 outstanding as of December 31, 2025 1,376 1,376

Additional paid-in capital 1,850,121 1,844,949

Retained earnings 1,250,204 1,154,364

Accumulated other comprehensive loss (91,933) (76,183)

Treasury stock (102,783) (91,294)

Total stockholders' equity 2,906,985 2,833,212

Total liabilities and stockholders' equity $ 25,663,358 $ 24,980,710

PROVIDENT FINANCIAL SERVICES, INC. AND SUBSIDIARY

Consolidated Statements of Income

Three months ended June 30, 2026, March 31, 2026 and June 30, 2025, and six months ended June 30, 2026 and 2025 (Unaudited)

(Dollars in Thousands, except per share data)

Three Months Ended Six Months Ended

June 30, March 31, June 30, June 30, June 30,

2026 2026 2025 2026 2025

Interest and dividend income:

Real estate secured loans $ 195,381 $ 191,503 $ 192,792 $ 386,884 $ 379,845

Commercial loans 82,757 77,901 78,854 160,658 154,673

Consumer loans 9,953 9,900 10,464 19,852 20,623

Available for sale debt securities, equity securities and Federal Home Loan Bank stock 35,975 33,282 31,444 69,258 61,088

Held to maturity debt securities 1,778 1,794 1,966 3,572 3,962

Deposits, federal funds sold and other short-term investments 751 686 788 1,437 1,463

Total interest income 326,595 315,066 316,308 641,661 621,654

Interest expense:

Deposits 91,803 91,936 96,257 183,739 193,678

Borrowed funds 23,730 21,011 24,470 44,741 42,247

Subordinated debt 8,382 8,376 8,487 16,758 16,907

Total interest expense 123,915 121,323 129,214 245,238 252,832

Net interest income 202,680 193,743 187,094 396,423 368,822

Provision for credit losses 9,334 (2,116) (2,888) 7,218 (2,250)

Net interest income after provision for credit losses 193,346 195,859 189,982 389,205 371,072

Non-interest income:

Fees 12,259 10,464 10,736 22,722 20,391

Wealth management income 7,517 7,402 6,948 14,920 14,275

Insurance agency income 5,446 6,850 4,942 12,296 10,593

Bank-owned life insurance 3,798 4,034 2,585 7,833 4,678

Net (loss) gain on securities transactions (309) — — (309) 87

Gain on sale of SBA loans 945 745 647 1,690 1,310

Other income 2,317 1,958 1,217 4,275 2,771

Total non-interest income 31,973 31,453 27,075 63,427 54,105

Non-interest expense:

Compensation and employee benefits 67,289 66,196 63,249 133,485 125,615

Net occupancy expense 12,464 14,985 13,011 27,449 26,938

Data processing expense 9,388 9,646 9,599 19,034 19,203

FDIC Insurance 3,155 2,841 3,341 5,995 6,727

Amortization of intangibles 8,559 8,563 9,497 17,122 18,998

Advertising and promotion expense 1,513 938 1,429 2,451 2,489

Core systems conversion expense 1,508 — — 1,508 —

Other operating expenses 15,382 13,972 14,488 29,355 30,911

Total non-interest expense 119,258 117,141 114,614 236,399 230,881

Net income before income tax expense 106,061 110,171 102,443 216,233 194,296

Income tax expense 27,914 30,754 30,462 58,668 58,287

Net income $ 78,147 $ 79,417 $ 71,981 $ 157,565 $ 136,009

Basic earnings per share $ 0.60 $ 0.61 $ 0.55 $ 1.21 $ 1.04

Average basic shares outstanding 130,330,787 130,511,676 130,484,287 130,421,508 130,405,490

Diluted earnings per share $ 0.60 $ 0.61 $ 0.55 $ 1.21 $ 1.04

Average diluted shares outstanding 130,388,396 130,588,635 130,500,143 130,488,792 130,440,958

PROVIDENT FINANCIAL SERVICES, INC. AND SUBSIDIARY

Net Interest Margin Analysis

Quarterly Average Balances

(Dollars in Thousands) (Unaudited)

June 30, 2026 March 31, 2026 June 30, 2025

Average Balance Interest Average

Yield/Cost Average Balance Interest Average

Yield/Cost

Interest-Earning Assets:

Deposits $ 73,162 $ 751 4.09 % $ 76,589 $ 686 3.63 % $ 75,714 $ 788 4.21 %

Available for sale debt securities 3,272,868 33,637 4.11 % 3,217,568 31,458 3.91 % 2,958,325 29,092 3.93 %

Held to maturity debt securities, net (1)

266,727 1,778 2.67 % 273,845 1,794 2.62 % 315,204 1,966 2.49 %

Equity securities, at fair value 19,986 123 2.46 % 19,988 120 2.42 % 19,235 214 4.44 %

Total securities 3,559,581 35,538 3.99 % 3,511,401 33,372 3.80 % 3,292,764 31,272 3.80 %

Federal Home Loan Bank stock 132,390 2,215 6.62 % 120,299 1,704 5.67 % 133,447 2,138 6.44 %

Net loans: (2)

Total mortgage loans 13,636,285 195,381 5.75 % 13,590,636 191,503 5.70 % 13,398,650 192,792 5.77 %

Total commercial loans 5,327,395 82,757 6.23 % 5,157,785 77,901 6.13 % 4,816,237 78,854 6.57 %

Total consumer loans 605,579 9,953 6.59 % 606,122 9,900 6.62 % 612,418 10,464 6.85 %

Total net loans 19,569,259 288,091 5.90 % 19,354,543 279,304 5.85 % 18,827,305 282,110 6.01 %

Total interest-earning assets $ 23,334,392 $ 326,595 5.61 % $ 23,062,832 $ 315,066 5.53 % $ 22,329,230 $ 316,308 5.68 %

Non-Interest Earning Assets:

Cash and due from banks 162,746 171,092 150,464

Other assets 1,800,478 1,792,490 1,870,114

Total assets $ 25,297,616 $ 25,026,414 $ 24,349,808

Interest-Bearing Liabilities:

Demand deposits $ 10,674,922 $ 63,736 2.39 % $ 10,759,045 $ 63,358 2.39 % $ 9,874,149 $ 64,803 2.63 %

Savings deposits 1,599,622 814 0.20 % 1,606,554 840 0.21 % 1,647,746 900 0.22 %

Time deposits 3,236,519 27,253 3.38 % 3,230,961 27,738 3.48 % 3,197,374 30,555 3.83 %

Total deposits 15,511,063 91,803 2.37 % 15,596,560 91,936 2.39 % 14,719,269 96,258 2.62 %

Borrowed funds 2,435,404 23,730 3.91 % 2,184,719 21,011 3.90 % 2,490,379 24,470 3.94 %

Subordinated debentures 408,260 8,382 8.23 % 407,019 8,376 8.35 % 403,286 8,487 8.44 %

Total interest-bearing liabilities 18,354,727 123,915 2.71 % 18,188,298 121,323 2.71 % 17,612,934 129,215 2.94 %

Non-Interest Bearing Liabilities:

Non-interest bearing deposits 3,716,104 3,644,605 3,700,132

Other non-interest bearing liabilities 329,223 320,398 352,400

Total non-interest bearing liabilities 4,045,327 3,965,003 4,052,532

Total liabilities 22,400,054 22,153,301 21,665,466

Stockholders' equity 2,897,562 2,873,113 2,684,342

Total liabilities and stockholders' equity $ 25,297,616 $ 25,026,414 $ 24,349,808

Net interest income $ 202,680 $ 193,743 $ 187,093

Net interest rate spread 2.90 % 2.82 % 2.74 %

Net interest-earning assets $ 4,979,665 $ 4,874,534 $ 4,716,296

Net interest margin (3)

3.48 % 3.40 % 3.36 %

Ratio of interest-earning assets to total interest-bearing liabilities 1.27x 1.27x 1.27x

(1) Average outstanding balance amounts shown are amortized cost, net of allowance for credit losses.

(2) Average outstanding balances are net of the allowance for loan losses, deferred loan fees and expenses, loan premiums and discounts and include non-accrual loans.

(3) Annualized net interest income divided by average interest-earning assets.

The following table summarizes the quarterly net interest margin for the previous five quarters.

6/30/26 3/31/26 12/31/25 9/30/25 6/30/25

2nd Qtr. 1st Qtr. 4th Qtr. 3rd Qtr. 2nd Qtr.

Interest-Earning Assets:

Securities 3.99 % 3.80 % 3.87 % 3.89 % 3.81 %

Net loans 5.90 % 5.85 % 5.98 % 6.09 % 6.01 %

Total interest-earning assets 5.61 % 5.53 % 5.66 % 5.76 % 5.68 %

Interest-Bearing Liabilities:

Deposits 2.37 % 2.39 % 2.60 % 2.67 % 2.62 %

Borrowings 3.91 % 3.90 % 3.94 % 3.96 % 3.94 %

Total interest-bearing liabilities 2.71 % 2.71 % 2.83 % 2.96 % 2.94 %

Interest rate spread 2.90 % 2.82 % 2.83 % 2.80 % 2.74 %

Net interest margin 3.48 % 3.40 % 3.44 % 3.43 % 3.36 %

Ratio of interest-earning assets to interest-bearing liabilities 1.27x 1.27x 1.28x 1.27x 1.27x

PROVIDENT FINANCIAL SERVICES, INC. AND SUBSIDIARY

Net Interest Margin Analysis

Average Year to Date Balances

(Dollars in Thousands) (Unaudited)

June 30, 2026 June 30, 2025

Average Average Average Average

Balance Interest Yield/Cost Balance Interest Yield/Cost

Interest-Earning Assets:

Deposits $ 74,866 $ 1,437 3.87 % $ 77,882 $ 1,463 4.21 %

Available for sale debt securities 3,245,371 65,095 4.01 % 2,893,373 56,505 3.91 %

Held to maturity debt securities, net (1)

270,266 3,572 2.64 % 317,607 3,962 2.50 %

Equity securities, at fair value 19,987 244 2.44 % 19,212 422 3.01 %

Total securities 3,535,624 68,911 3.90 % 3,230,192 60,889 3.75 %

Federal Home Loan Bank stock 126,378 3,919 12.41 % 120,883 4,161 6.92 %

Net loans: (2)

Total mortgage loans 13,615,283 386,884 5.72 % 13,351,451 379,845 5.73 %

Total commercial loans 5,241,339 160,658 6.18 % 4,747,564 154,673 6.57 %

Total consumer loans 605,872 19,852 6.61 % 610,728 20,623 6.81 %

Total net loans 19,462,494 567,394 5.87 % 18,709,743 555,141 5.98 %

Total interest-earning assets $ 23,199,362 $ 641,661 5.60 % $ 22,138,700 $ 621,654 5.65 %

Non-Interest Earning Assets:

Cash and due from banks 166,896 142,380

Other assets 1,796,506 1,919,313

Total assets $ 25,162,764 $ 24,200,393

Interest-Bearing Liabilities:

Demand deposits $ 10,716,751 $ 127,095 2.39 % $ 9,984,248 $ 130,235 2.63 %

Savings deposits 1,603,069 1,653 0.21 % 1,665,075 1,824 0.22 %

Time deposits 3,233,756 54,991 3.43 % 3,198,491 61,618 3.88 %

Total deposits 15,553,576 183,739 2.38 % 14,847,814 193,677 2.63 %

Borrowed funds 2,310,754 44,741 3.90 % 2,205,805 42,247 3.86 %

Subordinated debentures 407,643 16,758 8.29 % 402,665 16,907 8.47 %

Total interest-bearing liabilities $ 18,271,973 $ 245,238 2.71 % $ 17,456,284 $ 252,831 2.92 %

Non-Interest Bearing Liabilities:

Non-interest bearing deposits 3,680,552 3,709,602

Other non-interest bearing liabilities 324,834 373,029

Total non-interest bearing liabilities 4,005,386 4,082,631

Total liabilities 22,277,359 21,538,915

Stockholders' equity 2,885,405 2,661,478

Total liabilities and stockholders' equity $ 25,162,764 $ 24,200,393

Net interest income $ 396,423 $ 368,823

Net interest rate spread 2.89 % 2.73 %

Net interest-earning assets $ 4,927,389 $ 4,682,416

Net interest margin (3)

3.47 % 3.35 %

Ratio of interest-earning assets to total interest-bearing liabilities 1.27x 1.27x

(1) Average outstanding balance amounts shown are amortized cost, net of allowance for credit losses.

(2) Average outstanding balances are net of the allowance for loan losses, deferred loan fees and expenses, loan premiums and discounts and include loans held for sale and non-accrual loans.

(3) Annualized net interest income divided by average interest-earning assets.

The following table summarizes the year-to-date net interest margin for the previous three years.

Six Months Ended

June 30, 2026 June 30, 2025 June 30, 2024

Interest-Earning Assets:

Securities 3.90 % 3.75 % 2.78 %

Net loans 5.87 % 5.98 % 5.83 %

Total interest-earning assets 5.60 % 5.65 % 5.43 %

Interest-Bearing Liabilities:

Deposits 2.38 % 2.63 % 2.74 %

Borrowings 3.90 % 3.86 % 3.75 %

Total interest-bearing liabilities 2.71 % 2.92 % 2.97 %

Interest rate spread 2.89 % 2.73 % 2.46 %

Net interest margin 3.47 % 3.35 % 3.08 %

Ratio of interest-earning assets to interest-bearing liabilities 1.27x 1.27x 1.26x

Notes and Reconciliation of GAAP and Non-GAAP Financial Measures

(Dollars in Thousands, except share data)

The Company has presented the following non-GAAP (U.S. Generally Accepted Accounting Principles) financial measures because it believes that these measures provide useful and comparative information to assess trends in the Company’s results of operations and financial condition. Presentation of these non-GAAP financial measures is consistent with how the Company evaluates its performance internally and these non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the Company’s industry. Investors should recognize that the Company’s presentation of these non-GAAP financial measures might not be comparable to similarly-titled measures of other companies. These non-GAAP financial measures should not be considered a substitute for GAAP basis measures and the Company strongly encourages a review of its condensed consolidated financial statements in their entirety.

(1) Core Net Income

Three months Ended Six months Ended

June 30, June 30,

2026 2026

Net interest income $ 202,680 $ 396,423

Provision for loan losses 9,334 7,218

Net interest income after provision for loan losses $ 193,346 $ 389,205

Non-interest income 31,973 63,427

Non-interest expense $ 119,258 $ 236,399

Executive severance expense 864 864

Core system conversion expense 1,508 1508

Core non-interest expense $ 116,886 $ 234,027

Income taxes 27,914 58,668

Income tax of non-core items 663 663

Core net income $ 79,856 $ 159,274

Avg. diluted shares outstanding for the 3 and 6 months ended June 30, 2026 130,388,396 130,488,792

Core diluted earnings per share $ 0.61 $ 1.22

(2) Annualized core pre-provision net revenue ("PPNR") returns on average assets, average equity and average tangible equity

Three Months Ended

June 30, March 31, December 31, September 30, June 30,

2026 2026 2025 2025 2025

Net income $ 78,147 $ 79,417 $ 83,431 $ 71,720 $ 71,981

Adjustments to net income:

Provision for credit losses 9,334 (2,116) (1,213) 7,044 (2,888)

Write-down on ORE property — — — — —

Executive severance expense 864 — — — —

Core system conversion expense 1,508 — — — —

Income tax expense 27,914 30,754 28,814 29,895 30,462

Core PPNR $ 117,767 $ 108,055 $ 111,032 $ 108,659 $ 99,555

Annualized core PPNR income $ 472,362 $ 438,223 $ 440,507 $ 431,093 $ 399,314

Core diluted earnings per share $ 130,388,396 $ 130,588,635 $ 74,702,527 $ 130,589,271 $ 130,553,819 $ 130,500,143

Core PPNR Diluted EPS $ 0.90 $ 0.83 $ 0.85 $ 0.83 $ 0.76

Average assets $ 25,297,616 $ 25,026,414 $ 24,775,214 $ 24,518,290 $ 24,349,808

Average equity $ 2,897,562 $ 2,873,113 $ 2,810,166 $ 2,738,414 $ 2,684,342

Average tangible equity $ 2,126,989 $ 2,093,975 $ 2,022,451 $ 1,941,625 $ 1,877,923

Annualized core PPNR return on average assets 1.87 % 1.75 % 1.78 % 1.76 % 1.64 %

Annualized core PPNR return on average equity 16.30 % 15.25 % 15.68 % 15.74 % 14.88 %

Annualized core PPNR return on average tangible equity 22.21 % 20.93 % 21.78 % 22.20 % 21.26 %

(3) Annualized Core Return on Average Assets, Average Equity and Average Tangible Equity

For the Quarter Ended

June 30, March 31, December 31, September 30, June 30,

2026 2026 2025 2025 2025

Net Income $ 78,147 $ 79,417 83,431 71,720 $ 71,981

Executive severance expense 864 — — — —

Core system conversion expense 1,508 — — — —

Less: income tax expense (663) — — — —

Annualized core net income $ 79,856 79,417 83,431 71,720 71,981

Plus: Amortization of Intangibles (net of tax) 6,167 6,170 6,180 6,639 6,639

Annualized core net income for annualized core return on average tangible equity $ 86,023 $ 85,587 $ 89,611 $ 78,359 $ 78,620

Average assets $ 25,297,616 $ 25,026,414 $ 24,775,214 $ 24,518,290 $ 24,349,808

Average equity $ 2,897,562 $ 2,873,113 $ 2,810,166 $ 2,738,414 $ 2,684,342

Average tangible equity $ 2,126,989 $ 2,093,975 $ 2,022,451 $ 1,941,625 $ 1,877,923

Annualized Core Return on Average Assets 1.27 % 1.29 % 1.34 % 1.16 % 1.19 %

Annualized Core Return on Average Equity 11.05 % 11.21 % 11.78 % 10.39 % 10.76 %

Annualized Core Return on Average Tangible Equity 16.22 % 16.58 % 17.58 % 16.01 % 16.79 %

(4) Tangible Common Equity Ratio, Book and Tangible Book Value per Share

Three Months Ended

June 30, March 31, December 31, September 30, June 30,

2026 2026 2025 2025 2025

Total assets $ 25,663,358 $ 25,201,690 $ 24,980,710 $ 24,832,763 $ 24,547,286

Less: total intangible assets 765,019 773,585 782,152 790,729 800,232

Total tangible assets $ 24,898,339 $24,428,105 $24,198,558 $24,042,034 $23,747,054

Total stockholders' equity $ 2,906,985 $ 2,862,869 $ 2,833,212 $ 2,767,035 $ 2,707,555

Less: total intangible assets 765,019 773,585 782,152 790,729 800,232

Total tangible stockholders' equity $ 2,141,966 $ 2,089,284 $ 2,051,060 $ 1,976,306 $ 1,907,323

Tangible common equity ratio 8.60 % 8.55 % 8.48 % 8.22 % 8.03 %

Shares outstanding 130,423,051 $ 130,311,796 $ 130,619,949 $ 130,621,757 $ 130,624,243

Book value per share (total stockholders' equity/shares outstanding) $ 22.29 $ 21.97 $ 21.69 $ 21.18 $ 20.73

Tangible book value per share (total tangible stockholders' equity/shares outstanding) $ 16.42 $ 16.03 $ 15.70 $ 15.13 $ 14.60

(5) Annualized Return on Average Tangible Equity

Three Months Ended

June 30, March 31, December 31, September 30, June 30,

2026 2026 2025 2025 2025

Total average stockholders' equity $ 2,897,562 $ 2,873,113 $ 2,810,166 $ 2,738,414 $ 2,684,342

Less: total average intangible assets 770,573 779,138 787,715 796,789 806,419

Total average tangible stockholders' equity $ 2,126,989 $ 2,093,975 $ 2,022,451 $ 1,941,625 $ 1,877,923

Net income $ 78,147 $ 79,417 $ 83,431 $ 71,720 $ 71,981

Plus: Amortization of Intangibles, net of tax 6,167 $ 6,170 $ 6,180 $ 6,639 $ 6,639

Total net income $ 84,314 $ 85,587 $ 89,611 $ 78,359 $ 78,620

Annualized return on average tangible equity (net income/total average tangible stockholders' equity) 15.90 % 16.58 % 17.58 % 16.01 % 16.79 %

(6) Annualized Core Non-Interest Expense to Average Assets

Three Months Ended

June 30, March 31, December 31, September 30, June 30,

2026 2026 2025 2025 2025

Reported non-interest expense $ 119,258 $ 117,141 $ 114,690 $ 113,092 $ 114,614

Adjustments to non-interest expense:

Executive severance expense 864 — — — —

Core system conversion expense 1,508 — — — —

Core non-interest expense $ 116,886 $ 117,141 $ 114,690 $ 113,092 $ 114,614

Annualized core non-interest expense $ 468,828 $ 475,072 $ 455,020 $ 448,680 $ 459,715

Average assets $ 25,297,616 $ 25,026,414 $ 24,775,214 $ 24,518,290 $ 24,349,808

Annualized core non-interest expense/average assets 1.85 % 1.90 % 1.84 % 1.83 % 1.89 %

(7) Core Efficiency Ratio Calculation

Three Months Ended

June 30, March 31, December 31, September 30, June 30,

2026 2026 2025 2025 2025

Net interest income $ 202,680 $ 193,743 $ 197,411 $ 194,332 $ 187,094

Reported non-interest income 31,973 31,453 28,311 27,419 27,075

Adjustments to non-interest income:

Net (loss) gain on securities transactions 309 — (690) (67) —

Core non-interest income 32,282 31,453 27,621 27,352 27,075

Total core income $ 234,962 225,196 225,032 221,684 214,169

Core non-interest expense $ 116,886 117,141 114,690 113,092 114,614

Core Efficiency ratio (core non-interest expense/core income) 49.75 % 52.02 % 50.97 % 51.01 % 53.52 %

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A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

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Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

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Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

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Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

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Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

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