PFS,
Sale,
Prospectus,
Offering,
Federal Home Loan Banks,
Security (finance),
Bank,
Keefe, Bruyette & Woods,
Financial services,
Provident Bank ISELIN, N.J., May 09, 2024 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE:PFS) (the “Company”), the holding company for Provident Bank (the “Bank”), today announced the pricing of its offering of $225 million of its 9.00% fixed-to-floating rate subordinated notes due 2034 (the “Notes”) in a registered public offering (the “Offering”).
Key Points:
- ISELIN, N.J., May 09, 2024 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE:PFS) (the “Company”), the holding company for Provident Bank (the “Bank”), today announced the pricing of its offering of $225 million of its 9.00% fixed-to-floating rate subordinated notes due 2034 (the “Notes”) in a registered public offering (the “Offering”).
- Based upon the pricing and market demand for the Notes, the Company elected to increase the aggregate principal amount of the Notes to $225 million from the previously announced amount of $200 million.
- The Company expects to close the Offering, subject to the satisfaction of customary closing conditions, on or about May 13, 2024.
- Piper Sandler & Co. and Keefe, Bruyette & Woods, A Stifel Company are acting as joint book-running managers for the Offering.
PFS,
Sale,
Prospectus,
Offering,
Federal Home Loan Banks,
Security (finance),
Bank,
Keefe, Bruyette & Woods,
Financial services,
Provident Bank,
Note ISELIN, N.J., May 09, 2024 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE:PFS) (the “Company”), the holding company for Provident Bank (the “Bank”), today announced that it intends to offer, subject to market and other conditions, $200 million aggregate principal amount of subordinated notes due 2034 (the “Notes”) in a registered public offering, (the “Offering”).
Key Points:
- ISELIN, N.J., May 09, 2024 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE:PFS) (the “Company”), the holding company for Provident Bank (the “Bank”), today announced that it intends to offer, subject to market and other conditions, $200 million aggregate principal amount of subordinated notes due 2034 (the “Notes”) in a registered public offering, (the “Offering”).
- The Company intends to invest all of the net proceeds from the Offering in the Bank.
- Piper Sandler & Co. and Keefe, Bruyette & Woods, A Stifel Company are acting as joint book-running managers for the Offering.
- 333-275213) and a preliminary prospectus supplement with the SEC for the Offering to which this press release relates.
PFS,
Federal Reserve,
OAK,
Federal Deposit Insurance Corporation,
Federal Reserve Bank,
Tier 2,
Federal,
Provident,
Financial services,
Calendar,
Provident Bank,
Security (finance) ISELIN, N.J. and OAK RIDGE, N.J, April 11, 2024 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE:PFS) (“Provident”), the parent company of Provident Bank, and Lakeland Bancorp, Inc. (Nasdaq: LBAI) (“Lakeland”), the parent company of Lakeland Bank, today announced receipt of regulatory approval from the Board of Governors of the Federal Reserve System (the “Federal Reserve”) for Provident and Lakeland to complete their previously announced merger.
Key Points:
- ISELIN, N.J. and OAK RIDGE, N.J, April 11, 2024 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE:PFS) (“Provident”), the parent company of Provident Bank, and Lakeland Bancorp, Inc. (Nasdaq: LBAI) (“Lakeland”), the parent company of Lakeland Bank, today announced receipt of regulatory approval from the Board of Governors of the Federal Reserve System (the “Federal Reserve”) for Provident and Lakeland to complete their previously announced merger.
- With this approval, no further regulatory approvals are required to complete the merger.
- Consistent with the approval of the Federal Deposit Insurance Corporation for the merger, the Federal Reserve approval is subject to a commitment by Provident to issue $200 million of Tier 2 qualifying subordinated debt prior to or concurrently with the completion of the merger.
- The merger is expected to be completed in the second calendar quarter, subject to the completion of the subordinated debt issuance and satisfaction of customary closing conditions.
The call will also be archived on the Company’s website for a period of one year.
Key Points:
- The call will also be archived on the Company’s website for a period of one year.
- Provident Financial Services, Inc. is the holding company for Provident Bank.
- The Bank currently operates a network of full-service branches throughout northern and central New Jersey, eastern Pennsylvania, and Queens and Nassau Counties, 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.
Organization,
Tier 2,
Growth,
Provident Bank,
Insurance,
FDIC,
Financial services,
Provident,
Federal Reserve,
OAK,
Federal Deposit Insurance Corporation,
PFS,
Calendar,
Security (finance) Upon completion of the merger, the combined company will operate under the Provident name and will benefit from enhanced scale, and opportunities for growth and profitability.
Key Points:
- Upon completion of the merger, the combined company will operate under the Provident name and will benefit from enhanced scale, and opportunities for growth and profitability.
- The regulatory approvals contain certain conditions and commitments, including that Provident complete a $200 million capital raise prior to completion of the merger.
- Provident intends to satisfy this condition by raising $200 million of Tier 2 qualifying subordinated debt prior to completing the merger.
- In connection with these approvals, Provident and Lakeland expect to agree that the combined board of directors will consist of nine directors from Provident and five directors from Lakeland.
Organization,
Tier 2,
Growth,
Provident Bank,
Insurance,
FDIC,
Financial services,
Provident,
Federal Reserve,
OAK,
Federal Deposit Insurance Corporation,
PFS,
Calendar,
Security (finance) Upon completion of the merger, the combined company will operate under the Provident name and will benefit from enhanced scale, and opportunities for growth and profitability.
Key Points:
- Upon completion of the merger, the combined company will operate under the Provident name and will benefit from enhanced scale, and opportunities for growth and profitability.
- The regulatory approvals contain certain conditions and commitments, including that Provident complete a $200 million capital raise prior to completion of the merger.
- Provident intends to satisfy this condition by raising $200 million of Tier 2 qualifying subordinated debt prior to completing the merger.
- In connection with these approvals, Provident and Lakeland expect to agree that the combined board of directors will consist of nine directors from Provident and five directors from Lakeland.
Retrieved on:
Thursday, January 25, 2024
ISELIN, N.J., Jan. 02, 2024 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE: PFS) announced that it expects to release financial results for the quarter and year ended December 31, 2023 on Thursday, January 25, 2024 after market close.
Key Points:
- ISELIN, N.J., Jan. 02, 2024 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE: PFS) announced that it expects to release financial results for the quarter and year ended December 31, 2023 on Thursday, January 25, 2024 after market close.
- A copy of the earnings release will be immediately available on the Company’s website, www.Provident.Bank , by going to Investor Relations and clicking on Press Releases.
- Representatives of the Company will hold a conference call for investors on January 26, 2024 at 10:00 a.m. (ET) to discuss the Company’s fourth quarter and full year financial results.
- Information about the conference call is as follows:
Retrieved on:
Wednesday, December 20, 2023
ISELIN, N.J. and OAK RIDGE, N.J., Dec. 20, 2023 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE:PFS) (“Provident”), the parent company of Provident Bank, and Lakeland Bancorp, Inc. (Nasdaq: LBAI) (“Lakeland”), the parent company of Lakeland Bank, today announced that the two companies have agreed to extend their merger agreement to March 31, 2024, to provide additional time to obtain the required regulatory approvals.
Key Points:
- ISELIN, N.J. and OAK RIDGE, N.J., Dec. 20, 2023 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE:PFS) (“Provident”), the parent company of Provident Bank, and Lakeland Bancorp, Inc. (Nasdaq: LBAI) (“Lakeland”), the parent company of Lakeland Bank, today announced that the two companies have agreed to extend their merger agreement to March 31, 2024, to provide additional time to obtain the required regulatory approvals.
- Both parties remain committed to the merger and to obtaining regulatory approvals.
- When completed, the combined company will operate under the Provident name and will benefit from enhanced scale, opportunities for growth and profitability, and Provident’s and Lakeland’s complementary strengths will provide exceptional service to customers and communities served.
