![]() 1 Annual Meeting of Stockholders April 26, 2012 Our Commitment Shines Through Exhibit 99.2 |
![]() Forward Looking Statements 2 Certain statements contained herein are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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," "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 related to the economic environment, particularly in the market areas in which Provident Financial Services, Inc. (the “Company”) operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, 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 made. The Company also 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 undertake and specifically declines any obligation to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. |
![]() Company Profile 3 Holding Company for The Provident Bank – Founded in 1839 - oldest New Jersey chartered bank – Over 80 branches in 11 counties IPO Date: January 2003 NYSE Symbol: PFS Market Cap: $824.0 million at 4/23/12 Average Daily Volume: 286,052 shares* * 1 year period ended 4/23/12 |
![]() Experienced Management Team 4 Christopher Martin Chairman, President & Chief Executive Officer 31 Years John F. Kuntz EVP, Chief Adminstrative Officer & General Counsel 25 Years Thomas M. Lyons EVP & Chief Financial Officer 24 Years Michael A. Raimonde EVP & Director of Retail Banking 38 Years Brian Giovinazzi EVP & Chief Credit Officer 35 Years Jack Novielli EVP & Chief Information Officer 34 Years Donald W. Blum EVP & Chief Lending Officer 33 Years Janet D. Krasowski EVP & Chief Human Resources Officer 33 Years Frank Muzio SVP & Chief Accounting Officer 25 Years James Christy SVP, Chief Risk Officer & General Auditor 23 Years James D. Nesci President of Beacon Trust Company 20 Years |
![]() 5 All outside directors deemed independent Independent lead director and committee chairs with no management on committees Broad diversification and business backgrounds Strong financial and corporate governance expertise Integral to the strategic direction of the organization Independent Board Leadership |
![]() Operating Strategies 6 Committed to building successful customer relationships through straightforward communication, personal attention and integrity Provide solutions for our customers’ needs with competitive and diverse product offerings Continue to diversify the balance sheet composition with emphasis on commercial relationships Conservatively manage our company for consistent long- term profitability and growth Logically grow in markets relevant to our company Maintain margin while protecting against a rise in interest rates |
![]() 7 Build upon our low-cost, core deposit funding base Build and grow fee income sources (specifically Wealth Management via Beacon Trust) Challenge our officers and staff to further enhance operating efficiencies Continue to foster a “Pay for Performance” culture within our organization Maintain sufficient capital to support growth and manage risk effectively Evaluate the M & A environment for accretive opportunities Operating Strategies (cont.) |
![]() Stockholder Value 8 Adhering to these strategies results in: – Competitive advantage – Profitable growth – Increased earnings – Enhanced long-term stockholder value |
![]() Branch Map 9 |
![]() Asset Quality 10 |
![]() Allowance for Loan Losses to Total Loans 11 |
![]() Capital – At 12/31/11 Amount Ratio Amount Ratio Regulatory Tier 1 leverage capital 267,308 $ 4.00% 583,770 $ 8.74% Tier 1 risk-based capital 182,477 $ 4.00% 583,770 $ 12.80% Total risk-based capital 364,953 $ 8.00% 641,008 $ 14.05% REQUIRED ACTUAL (Dollars in thousands) The Company continues to exceed all current regulatory requirements and is “well capitalized.” 12 |
![]() Total Return 13 |
![]() Current Dividend Yield (as of 4/23/12) = 3.51% Quarterly Cash Dividends since IPO 14 |
![]() ROA & ROE 15 *Operating ROA & ROE. Excludes Goodwill impairment. |
![]() 2011 Highlights 16 Record Loan Originations of $1.5 Billion Net Loan Growth of $244 Million or 6% Improving Asset Quality Metrics Total Deposits Increased $279 Million or 6%, Core Increased $428 Million or 12%, Non-Interest Bearing Increased $148 Million or 27% Beacon Acquisition, Organic Growth Increased Wealth Assets Under Administration Nearly 5x 15% Growth in Net Income to $57.3 million Record Earnings per Share of $1.01 Commitment from 968 FTE Employees = RESULTS |
![]() 17 THANK YOU FOR ATTENDING! |