1 Annual Meeting Annual Meeting of Stockholders of Stockholders April 25, 2013 April 25, 2013 Exhibit 99.2 |
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. A detailed discussion of factors that could affect our results is included in our SEC filings, including the “Risk Factors” section of our Annual Report on Form 10-K for the year ended December 31, 2012. 2 Forward Looking Statements |
Superior Markets Consistent Performance Valuable Deposit Franchise Proven Asset Generator Capable Risk Manager Shareholder Focused 3 Why PFS? |
New Jersey’s oldest state chartered bank Over 75 branch offices Wealth Management and Trust Administration Services Well capitalized under current regulatory standards Ten year history of quarterly cash dividends to stockholders No TARP No dilutive stock offerings No bulk NPA sales or debt restructurings 4 Company Highlights |
5 Total Return |
6 Dividend History |
7 2012: A Record Setting Year 2012 Change vs. 2011 Total Assets $7.3 B $186 M 2.6% Loans $4.9 B $251 M 5.4% Total Deposits $5.4 B $272 M 5.3% Non-Interest Bearing Deposits $864 M $166 M 24.0% |
8 2012: A Record Setting Year 2012 Change vs. 2011 Net Income $67 M $10 M 17.3% EPS $1.18 $0.17 16.8% ROAA 0.94% 0.11% 13.3% ROATE 10.88% 1.07% 10.9% |
9 *Excludes impact of $152.5 million of Goodwill impairment in 2009. A Longer View: Structural Gains 2012 2009 Net Interest Margin 3.38% 3.06% Loans/Deposits 90.4% 89.5% Net Revenues $261M $212M Provision for Loan Losses $16M $30M Net Income $67M $31M* |
10 Asset Quality 5 Quarter Trend $135,351 $134,783 $129,141 $119,586 $111,463 1.91% 1.89% 1.81% 1.65% 1.53% 4 Q 2011 1 Q 2012 2 Q 2012 3 Q 2012 4 Q 2012 NPAs NPAs/Assets |
$6.8 B $7.3 B 11 A Longer View: Structural Gains 64% 25% 11% 2009 67% 23% 10% 2012 Loans Investments Other Asset Composition |
12 A Longer View: Structural Gains Loan Composition Commercial $2.3B 53% Consumer $2.1B 47% 2009 Commercial $3.1B 62% Consumer $1.8B 38% 2012 |
Total Loans: $4.9 Billion Average Loan Yield: 4.58% 13 Loan Portfolio – 12/31/12 1-4 Residential 26% CRE 27% Multi-family 15% Construction 2% Consumer 12% C&I 18% |
14 A Longer View: Structural Gains Funding / Earning Assets 47% 8% 25% 16% 2009 55% 13% 15% 12% 2012 Interest Bearing Core Deposits Non -Interest Bearing Deposits Time Deposits Borrowings |
15 * Not meaningful Provident Consolidated Bank PFS Tangible Common Equity * 9.00% Tier 1 Leverage 7.80% 8.93% Tier 1 Risk-Based Capital 11.08% 12.68% Total Risk-Based Capital 12.33% 13.93% Capital Ratios – 12/31/12 |
16 Capital flexibility Recent additions to lending teams in Middle Market / Consumer / Healthcare / CRE Technology enhancements Sandy stimulus Accelerating economic recovery Opportunities |
17 COMMITMENT YOU CAN COUNT ON. |