Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - PROVIDENT FINANCIAL SERVICES INC | d340439d8k.htm |
| EX-99.1 - PRESS RELEASE ISSUED BY THE COMPANY ON APRIL 26, 2012 - PROVIDENT FINANCIAL SERVICES INC | d340439dex991.htm |
 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! |