M&A - PROVIDENT FINANCIAL SERVICES INC

Form Type: 11-K

Filing Date: 2025-06-26

Corporate Action: Merger

Type: New

Accession Number: 000162828025033146

Filing Summary: The document is an annual report for the Provident Bank 401(k) Plan and outlines the financial performance of the plan for the fiscal year ending December 31, 2024. The report includes a comprehensive overview of the plan's financial statements, auditor's opinion, participant eligibility criteria, contribution details, and administrative provisions. Key financial highlights include total net assets available for benefits of $184,354,407 as of December 31, 2024, up from $164,279,353 in 2023, alongside significant investment income primarily from appreciation in fair value and contributions from participants. Notably, the plan was amended to comply with SECURE Act provisions effective January 1, 2024, and it accommodates new participants from a completed merger with Lakeland Bancorp, Inc. that was finalized on May 16, 2024. Further changes include adjustments to employer matching contributions and eligibility for profit-sharing contributions starting January 1, 2025. The audit confirmed that the financial statements present fairly the net assets available for benefits in accordance with GAAP.

Form Type: 10-Q

Filing Date: 2025-05-08

Corporate Action: Merger

Type: Update

Accession Number: 000162828025023612

Filing Summary: This quarterly report discusses Provident Financial Services Inc's recent merger agreement with Lakeland Bancorp Inc, indicating that consolidation efforts are progressing, with relevant updates on financial performance including assets and income metrics. The report outlines specific asset classes including common stock, treasury stock, and various liabilities, along with discussions on compliance with GAAP. It also mentions various financial ratios signaling the company's operational health amid the merger process. Furthermore, the document provides insights into non-performing loans and other critical financial indicators which may impact future performance post-merger.

Form Type: 10-K

Filing Date: 2025-02-28

Corporate Action: Merger

Type: Update

Accession Number: 000162828025008991

Filing Summary: Provident Financial Services Inc. has provided their annual report detailing their financial performance for the year ending December 31, 2024. The company is undergoing a merger with Lakeland Bancorp Inc., which was formalized in an agreement disclosed in the filing. The document includes comprehensive financial statements, management's discussion and analysis (MD&A) of financial conditions, and results of operations, emphasizing significant impacts from the merger on revenue, expenses, and overall financial health. It also highlights changes in business strategy as a result of the merger, including potential efficiencies and market expansions. Relevant audit results and compliance with SEC regulations are discussed, alongside key performance metrics and future outlook.