Attached files
| file | filename |
|---|---|
| 8-K - 8-K - PROVIDENT FINANCIAL SERVICES INC | a032820178k-sandlerpresent.htm |
Investor Roadshow
March 28 thru March 31, 2017
Forward Looking Statements
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 have any obligation to update any forward-
looking statements to reflect events or circumstances after the date of this statement.
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, 2016.
5 -YEAR COMPARATIVE BALANCE SHEET DATA
Assets +$2.4 B 6% CAGR
Loans +$2.3 B 9% CAGR
Core Deposits +$1.9 B 8% CAGR
NIB Deposits +$653 M 14% CAGR
Loans
66%
Investments
25%
Intangibles
5%
BOLI
2%
Other
2%
COMPARATIVE BALANCE SHEETS
12/31/11
$7.1 B
Loans
74%
Investments
17%
Intangibles
4%
BOLI
2%
Other
3%
12/31/16
$9.5 B
CRE
27%
MF
12%
C&I
19%
Resi
28%
Consumer
12%
Construction
2%
CRE
28%
MF
20%
C&I
23%
Resi
17%
Consumer
8%
Construction
4%
COMPARATIVE LOAN COMPOSITION
12/31/16
Commercial: 75%
Consumer: 25%
12/31/11
Commercial: 60%
Consumer: 40%
NIB
13%
IB
Core
65%
Time
22%
NIB
21%
IB
Core
69%
Time
10%
COMPARATIVE DEPOSITS
12/31/16
NIB $1.3 B
Total Core $5.9 B
Total Deposits: $6.6 B
12/31/11
NIB $696 M
Total Core $4.0 B
Total Deposits: $5.2 B
5-YEAR COMPARATIVE INCOME STATEMENT DATA
Revenues +$65 M 5% CAGR
Net Interest Income +$43 M 4% CAGR
Non-Interest Income +$23 M 11% CAGR
Net Income +$30 M 9% CAGR
EPS +$0.37 6% CAGR
NIM and IRR
3.49 3.38 3.31 3.30 3.20 3.11NIM
3.04 3.13 3.23 3.24 3.14 3.05
NIM After
Provision
233
151 203 208 145 100
AVG 2/10
Spread
($6,600) ($7,581) ($10,624)
($6,778) ($4,350) ($4,451)
NII at Risk
+200 bp
2011 2012 2013 2014 2015 2016
-3.05% -3.50% -4.82% -2.74% -1.73% -1.65%
HOW WE MEASURE SUCCESS
$1.01 $1.18 $1.23 $1.22 $1.33 $1.38EPS
$9.87 $10.40 $10.92 $11.40 $11.75
$12.54TBV per share
$0.12 $0.13
$0.15 $0.15 $0.17
$0.19Regular
Quarterly Cash
Dividend
per share
3.6% 3.5% 3.1% 3.4% 3.4% 2.7%Dividend Yield
$13.39 $14.92 $19.32 $18.06 $20.15
$28.30
Closing Price
2011 2012 2013 2014 2015 2016
5%
CAGR
+58%
5-year
TSR
155%
6%
CAGR
Investor Roadshow
March 28 thru March 31, 2017