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Last $18.43 USD
Change Today +0.43 / 2.39%
Volume 180.8K
PFS On Other Exchanges
New York
As of 8:04 PM 02/12/16 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

239 Washington Street

Jersey City, NJ 07302

United States

Phone: 732-590-9200


Provident Financial Services, Inc. operates as the holding company for The Provident Bank, which provides banking services to individuals, families, and businesses in New Jersey. As of December 31, 2014, the company operated a network of 86 full-service banking offices throughout 13 counties in northern and central New Jersey, as well as in Bucks, Lehigh and Northampton counties in Pennsylvania. The company also maintains its administrative offices in Iselin, New Jersey and satellite loan production offices in Convent Station, Flemington, Paramus, Princeton and West Orange, New Jersey, as well as Bethlehem and Newtown, Pennsylvania. Lending Activities The company’s lending activities, though concentrated in the communities surrounding its offices, extend predominantly throughout New Jersey and eastern Pennsylvania. Residential Mortgage Loans: The company originates residential mortgage loans secured by first mortgages on one- to four-family residences, generally located in the state of New Jersey. It originates residential mortgages primarily through commissioned mortgage representatives and through the Internet. The company originates both fixed-rate and adjustable-rate mortgages. The company originates fixed-rate fully amortizing residential mortgage loans with the principal and interest due each month, that has maturities ranging from 10 to 30 years. It also originates fixed-rate residential mortgage loans with maturities of 10, 15, 20 and 30 years that require the payment of principal and interest on a biweekly basis. Commercial Real Estate Loans: The company originates loans secured by mortgages on various commercial income producing properties, including multi-family apartment buildings, office buildings and retail and industrial properties. A majority of the company’s commercial real estate loans are secured by properties located in the State of New Jersey. Multi-family Loans: The company underwrites loans secured by apartment buildings that have five or more units. Construction Loans: The company originates commercial construction loans. Commercial construction lending includes both new construction of residential and commercial real estate projects and the reconstruction of existing structures. The company’s commercial construction financing takes two forms: projects that are constructed for investment purposes (rental property) and projects for sale (single family/condominiums). It underwrites construction loans for a term of three years or less. For all construction loans, the company requires an independent appraisal, which includes information on market rents and/or comparable sales for competing projects. It also obtains personal guarantees and conducts environmental due diligence as appropriate. Commercial Loans: The company underwrites commercial loans to corporations, partnerships and other businesses. It offers commercial loans for equipment purchases, lines of credit for working capital purposes, letters of credit and real estate loans where the borrower is the primary occupant of the property. The company also underwrites Small Business Administration (SBA) guaranteed loans and guaranteed or assisted loans through various state, county and municipal programs. Consumer Loans: The company offers various consumer loans to individuals, such as personal loans and unsecured lines of credit, direct auto loans and recreational vehicle loans. Investment Portfolio The company’s investment portfolio includes U.S Treasury obligations; state and municipal obligations; mortgage-backed securities; Federal Home Loan Mortgage Corporation (FHLMC) obligations; Federal Home Loan Bank of New York (FHLB) obligations; Federal National Mortgage Association (FNMA) obligations; FFCB obligations; corporate obligations; and equity securities. Deposits The company offers various deposits for retail and business accounts. Its deposit products include savings accounts, checking accounts, interest-bearing checking accounts, money market deposit accounts and certificate of deposit accounts at varying interest rates and terms. The company also offers IRA and KEOGH accounts. Business customers are

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Price/Sales 3.9x
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