Provident financial services, inc. (PFS)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Cash flows from operating activities:
Net income

14,931

25,951

31,399

24,393

30,890

35,763

35,468

19,243

27,913

19,483

26,575

24,383

23,508

22,567

22,906

21,356

20,973

21,515

20,609

21,796

19,802

21,219

19,032

16,351

17,029

17,402

16,076

19,228

17,828

16,682

16,154

16,003

18,428

14,870

15,566

13,977

12,931

12,115

13,463

12,940

11,187

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles

2,494

2,433

2,736

2,772

2,454

2,488

2,521

2,494

2,598

2,759

2,893

2,947

3,024

3,049

3,126

3,262

3,323

3,403

3,425

3,553

3,333

3,381

3,190

2,468

2,094

2,085

2,093

2,306

2,292

2,233

2,230

2,420

2,444

2,357

2,348

2,403

2,552

2,570

2,597

2,722

2,859

Provision for credit losses

14,700

-

-

-

200

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for credit loss for off-balance sheet credit exposure

1,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment charge premises & equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

807

-

-

-

-

Provision for loan losses

-

-

-

-

-

1,800

1,000

15,500

5,400

1,900

500

1,700

1,500

1,200

1,000

1,700

1,500

1,250

1,400

1,100

600

1,250

1,500

1,500

400

1,800

1,200

1,000

1,500

4,000

3,500

3,500

5,000

6,000

7,500

7,500

7,900

8,900

8,600

9,000

9,000

Deferred tax (benefit) expense

-1,492

1,786

1,094

-4,390

3,184

2,860

710

-24,126

2,015

39,994

-200

-1,792

2,632

2,837

211

-344

456

-278

-1,593

449

1,748

2,999

-1,153

-576

2,396

668

3,102

557

1,204

3,787

-916

-4,420

415

2,086

-2,364

-2,131

-1,353

-3,397

299

-1,324

683

Amortization of operating lease right-of-use assets

2,130

2,130

2,127

2,126

2,050

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in operating lease liabilities

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income on Bank-owned life insurance

787

2,044

1,272

1,285

1,696

874

2,083

1,293

1,264

1,402

1,353

2,549

1,389

1,387

1,382

1,369

1,332

1,432

1,248

1,317

1,348

1,405

1,349

1,577

1,302

1,241

1,201

2,944

1,210

1,381

1,273

1,260

1,362

9,240

-6,722

1,316

1,408

-10,462

1,288

1,828

1,398

Net amortization of premiums and discounts on securities

-1,913

-2,170

-2,021

-1,842

-1,756

-1,926

-2,156

-2,179

-2,279

-2,444

-2,593

-2,461

-2,450

-2,923

-2,871

-2,636

-2,401

-2,459

-2,757

-2,742

-2,655

-2,760

-2,909

-2,516

-2,276

-2,460

-3,205

-3,439

-3,838

-4,430

-4,453

-3,949

-3,713

-4,175

-14,047

8,896

-3,354

-3,994

-2,327

-1,758

-1,904

Accretion of net deferred loan fees

1,521

1,771

1,379

1,273

1,220

1,929

1,440

1,118

1,286

982

1,251

1,276

1,146

908

873

940

687

1,872

847

959

946

988

835

795

746

920

893

773

1,291

890

902

869

832

505

2,876

-1,421

205

191

-389

611

593

Amortization of premiums on purchased loans, net

192

261

256

168

160

217

272

205

200

221

284

297

219

375

422

316

198

279

257

272

292

168

173

200

153

218

312

432

324

422

439

406

427

3,234

-2,158

1,217

-391

3,440

-412

-469

-521

Net increase in loans originated for sale

4,022

1,798

4,412

6,060

3,942

26,733

4,765

428

4,117

6,552

4,634

12,762

990

2,242

24,984

5,152

2,598

4,931

2,274

844

3,869

5,329

3,756

-4,743

8,267

10,438

6,195

3,898

10,446

3,897

9,206

14,265

9,355

14,410

12,153

-7,436

2,267

5,750

1,419

9,347

1,623

Proceeds from sales of loans originated for sale

4,335

1,967

4,593

6,427

4,215

27,202

5,073

583

4,528

7,238

19,149

-89

89

2,299

26,252

5,536

2,921

5,266

2,319

1,158

4,056

6,154

4,057

-4,583

8,390

10,947

6,339

4,337

10,824

4,103

9,627

15,154

9,800

15,564

1,862

2,955

2,294

6,238

1,751

9,677

1,650

Proceeds from sales and paydowns of foreclosed assets

256

291

260

218

585

4,713

1,187

1,597

466

540

1,343

1,373

2,167

2,392

1,216

1,438

1,063

1,546

620

1,989

288

1,914

1,041

2,165

1,374

2,688

7,294

1,065

2,639

3,019

4,375

5,433

3,657

9,985

3,195

1,779

787

-

-

-

-

ESOP expense

921

1,412

1,002

1,044

1,075

1,241

1,070

1,120

1,085

1,433

1,047

1,025

1,095

1,365

811

784

746

878

729

703

687

464

707

727

756

603

698

631

627

219

645

581

585

241

519

571

595

392

492

503

453

Proceeds from sales of foreclosed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,313

Allocation of stock award shares

993

1,787

1,777

1,719

1,388

1,419

1,468

2,134

1,025

1,261

1,188

1,973

541

830

767

1,492

723

1,130

1,043

1,600

852

1,310

1,395

2,348

1,306

1,307

760

1,886

916

412

1,316

986

944

688

852

857

801

594

624

628

576

Allocation of stock options

47

46

47

46

42

49

48

48

45

53

53

53

44

41

43

42

46

72

72

56

72

73

73

73

79

87

69

70

71

236

61

66

89

147

183

183

206

203

205

213

205

Excess tax benefits related to stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net gain on sale of loans

313

169

181

367

273

218

559

155

411

686

415

259

89

57

1,268

384

323

335

45

314

187

825

301

160

123

509

144

439

378

208

419

889

445

1,154

207

-107

27

488

333

329

27

Net gain on securities transactions

11

43

0

29

0

2,218

2

0

1

10

36

11

0

10

-43

1

96

4

5

643

2

4

487

110

-350

22

40

423

511

2,015

298

1

2,183

22

714

-42

14

52

16

0

817

Net gain on sale of premises and equipment

641

0

0

0

0

-

-

-

-

-

-

-

-

0

10

0

4

0

10

-11

5

0

4

0

1

0

71

-29

0

601

-65

55

42

-314

138

-185

90

-29

13

2

-3

Net gain on sale of foreclosed assets

29

8

106

19

57

85

154

378

181

51

267

213

288

-67

417

209

26

396

56

172

-32

19

112

275

110

385

213

19

-214

152

43

-295

25

100

46

-57

38

0

0

-10

5

Decrease in accrued interest receivable

-1,232

-60

-2,097

8

-295

1,691

227

-1,013

924

2,248

308

421

-413

1,777

-172

78

-367

1,532

-1,394

1,086

-686

1,041

-1,423

811

-1,216

1,654

-1,697

900

-1,903

1,412

-1,288

1,177

-1,952

1,592

-3,445

2,981

-1,732

1,470

-1,123

135

-1,022

(Increase) decrease in other assets

82,099

-3,909

23,509

30,679

-4,042

-11,091

9,048

-2,077

-1,146

49,671

-1,316

6,343

-2,620

-22,981

1,232

13,217

2,659

-5,554

-586

6,431

4,621

16,413

-1,584

2,545

-269

-11,210

1,670

312

5,026

2,885

4,057

4,346

-2,060

3,178

22,527

-11,286

-519

13,893

192

-222

2,283

Decrease (increase) in other liabilities

79,111

-12,979

17,694

34,377

-13,780

-34,059

26,820

20,365

-8,309

10,988

1,828

5,333

-12,007

-13,712

-2,220

12,377

785

-3,626

4,729

7,167

-2,897

6,220

540

5,185

-4,224

-402

3,878

3,172

-6,475

2,677

1,174

1,548

-2,917

-5,741

-2,306

-689

-732

1,424

4,826

-1,836

-3,042

Net cash provided by operating activities

33,357

28,291

36,744

40,522

31,368

22,962

59,515

41,035

32,207

26,700

50,297

15,830

24,393

42,833

27,454

29,245

27,777

28,946

33,862

30,830

21,228

21,888

29,627

26,844

23,315

36,338

36,296

28,444

18,843

24,666

28,213

22,975

32,437

24,197

28,660

12,241

28,735

11,258

34,225

25,190

21,588

Cash flows from investing activities:
Proceeds from maturities, calls and paydowns of held to maturity debt securities

17,225

11,907

16,498

2,859

11,432

2,808

11,729

3,063

21,934

13,338

16,744

9,970

15,668

13,730

31,909

5,531

11,805

10,063

10,627

11,238

5,343

4,995

11,581

5,093

19,388

20,157

26,671

19,415

31,731

15,325

22,787

9,961

29,134

34,305

19,729

10,216

14,447

14,907

15,436

8,787

9,686

Purchases of held to maturity debt securities

9,674

4,327

3,959

6,237

5,780

8,780

12,637

10,589

11,881

9,820

6,502

14,275

17,297

26,290

30,129

12,671

11,259

12,739

11,072

10,223

10,220

15,205

17,615

20,651

19,926

19,356

33,890

28,929

15,789

22,702

12,151

21,766

32,662

31,406

22,496

17,438

10,226

26,653

17,930

6,358

9,286

Proceeds from sales of available for sale debt securities

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,208

87

2,106

0

0

14,005

0

80

9,946

8,922

6,085

0

0

6,915

7,919

55,678

3,959

0

47,131

-

-

-

14

0

0

-1

18,927

Proceeds from maturities and paydowns of available for sale debt securities

64,466

72,174

59,705

51,669

40,258

41,196

53,803

46,412

55,279

59,702

59,934

51,683

48,819

64,482

54,139

52,001

40,818

46,486

69,454

50,307

45,848

49,766

66,055

47,248

44,462

52,578

102,460

90,121

106,313

135,097

120,297

114,764

118,432

122,946

106,066

75,320

117,036

126,371

97,255

191,920

91,049

Purchases of available for sale debt securities

56,172

50

8,288

58,300

50,384

47,407

51,649

65,866

72,154

78,716

50,379

42,253

57,015

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of securities available for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

78,878

78,275

52,513

27,798

28,802

58,351

14,769

9,254

36,015

0

18,566

76,233

75,240

80,509

71,352

126,867

150,760

27,534

190,565

201,536

183,131

59,658

5,094

144,630

210,082

180,683

30,687

Proceeds from redemption of Federal Home Loan Bank stock

28,549

46,399

54,679

39,679

31,536

35,262

34,274

35,726

39,929

34,085

38,382

25,347

32,311

9,748

15,999

8,224

22,534

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of Federal Home Loan Bank stock

32,449

34,976

48,537

45,908

31,357

32,166

29,411

37,901

33,342

44,373

30,329

27,660

33,221

14,455

10,708

12,399

16,488

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease (increase) in Federal Home Loan Bank stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,082

10,437

-2,334

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

BOLI claim benefits received

1,985

0

0

1,891

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,905

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of loans

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

28,590

18,797

26,724

26,070

23,692

36,076

63,437

22,481

8,546

12,761

17,447

1,761

2,797

-41,688

66,448

29,892

19,088

10,540

10,029

10,149

48,803

21,370

31,460

14,308

23,292

Net (increase) decrease in loans

39,897

79,812

-41,832

69,411

-27,579

-2,372

-2,442

-39,580

-34,994

322,443

-13,922

19,548

-5,626

115,161

109,719

143,225

72,894

88,272

98,291

160,879

15,994

83,258

-8,234

-2,088

56,304

98,445

254,320

-88,838

-4,568

-128,500

-21,124

-51,210

8,930

-90,556

-107,534

7,837

936

-45,241

11,686

12,151

80,187

Proceeds from sales of premises and equipment

641

0

0

0

0

-

-

-

-

-

-

-

-

0

10

0

4

0

19

-5

5

-

-

-

0

-

-

-

-

573

0

-6

71

10,025

1,504

0

448

0

6

1,327

768

Purchases of premises and equipment

1,664

2,086

1,438

765

593

1,204

819

637

502

1,541

582

519

589

1,238

1,346

653

1,758

1,223

1,464

1,074

2,148

2,037

3,514

5,114

5,776

1,086

1,435

4,023

1,165

1,248

1,855

3,573

982

-205

2,501

2,672

3,578

4,946

961

1,060

1,539

Net cash (used in) provided by investing activities

-26,990

23,196

96,525

-99,545

22,691

-27,170

31,149

8,469

34,257

-305,122

21,738

-17,255

-5,698

-165,669

-127,515

-181,380

-106,235

-91,729

-86,559

-217,102

-13,293

-82,646

-23,975

69,346

-37,278

-155,673

-66,389

-87,574

50,292

-30,956

-105,295

-9,256

-39,599

-165,912

-182,142

3,442

65,180

-101,562

-136,050

13,298

135,813

Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract]
Net increase in deposits

108,151

141,238

86,400

-28,485

73,334

110,381

45,792

-82,634

42,417

122,950

90,679

-29,333

-23,759

26,131

297,612

75,024

230,875

98,374

11,392

-8,830

30,528

64,568

-110,077

-123,326

-11,051

-53,906

6,761

-27,669

-151,690

54,594

167,664

11,139

38,277

82,305

81,329

104,964

10,265

-26,822

-1,860

21,701

-14,462

Increase in mortgage escrow deposits

1,666

832

-3,651

2,260

1,795

55

-4,593

3,112

1,061

747

-3,755

2,650

1,839

167

-3,953

2,602

2,291

-775

-1,850

2,317

2,004

104

-1,440

734

1,852

-1,381

-1,124

536

1,303

-102

-2,923

893

2,415

609

-2,208

1,091

1,905

919

-2,564

1,106

1,384

Cash dividends paid to stockholders

15,496

13,218

15,274

15,353

28,964

12,465

14,090

13,411

13,638

21,321

13,350

12,680

12,629

10,228

11,919

11,901

11,321

9,475

10,513

10,499

10,798

8,095

9,789

9,044

9,190

7,355

8,438

8,441

8,086

17,648

7,873

7,878

7,330

5,646

7,254

7,256

6,649

5,051

6,640

6,655

6,638

Shares issued dividend reinvestment plan

451

466

461

463

840

415

435

440

419

775

429

435

475

476

425

386

365

378

340

352

377

317

360

325

334

343

306

294

301

666

292

2,657

2,475

-

-

-

-

-

-

-

-

Purchase of treasury stock

4,985

0

15,817

3,870

180

12,997

175

0

0

0

0

0

443

0

0

1

1,556

0

-1,933

51

1,882

-854

521

-1

3,881

16

0

5,044

839

3,804

0

3,682

1,938

1,264

2,566

8

301

2

13

2

176

Purchase of employee restricted shares to fund statutory tax withholding

956

0

32

39

1,914

45

4

55

1,792

52

17

6

703

64

16

4

1,141

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock options exercised

0

0

0

124

15

33

767

32

175

420

19

7

2,508

600

2,968

309

2,321

1,112

989

670

395

-27

38

106

0

155

46

135

18

-

-

-

-

0

2

4

3

-

-

-

-

Proceeds from long-term borrowings

632,554

234,000

671,000

253,000

85,000

85,000

85,000

260,000

265,000

98,780

76,240

101,560

70,420

63,347

40,001

83,794

167,858

235,000

130,000

247,020

82,917

190,729

82,103

140,240

181,991

86,000

165,000

30,000

20,000

-

-

-

-

0

75,800

70,500

90,000

123,800

22,000

75,000

25,000

Payments on long-term borrowings

300,159

657,596

485,955

192,640

213,360

156,935

236,606

275,024

135,810

194,358

143,368

111,010

91,009

89,797

100,069

89,268

206,068

227,028

165,811

70,096

87,000

87,901

39,897

136,959

25,000

26,897

6,395

25,392

20,406

29,503

401

25,399

397

27,760

70,209

99,242

82,877

94,733

76,003

80,605

70,702

Net (decrease) increase in short-term borrowings

-243,764

168,679

-317,230

53,398

84,568

-15,697

39,981

66,475

-281,616

312,532

-83,531

45,110

48,403

116,827

-82,841

100,610

-99,281

-60,968

111,864

39,247

-37,364

-83,961

29,937

82,514

-140,658

128,330

-111,282

110,509

51,148

-1,653

-49,383

16,537

-26,717

35,374

15,848

-3,419

-53,518

37,006

2,319

-5,165

12,533

Net cash provided by financing activities

177,462

-125,599

-80,098

68,858

1,134

-2,255

-83,493

-41,065

-123,784

320,473

-76,654

-3,267

-4,898

107,459

142,208

161,551

84,343

36,576

76,398

200,130

-20,823

75,715

-49,286

-45,409

-5,603

125,273

44,874

74,928

-108,251

2,560

107,390

-5,729

6,785

87,331

90,209

66,634

-41,172

35,129

-62,761

5,419

-53,061

Net increase in cash and cash equivalents

183,829

-74,112

53,171

9,835

55,193

-6,463

7,171

8,439

-57,320

42,051

-4,619

-4,692

13,797

-15,377

42,147

9,416

5,885

-26,207

23,701

13,858

-12,888

14,957

-43,634

50,781

-19,566

5,938

14,781

15,798

-39,116

-3,730

45,534

-7,236

-377

-54,384

-63,273

82,317

52,743

-55,175

-164,586

43,907

104,340

Cash paid during the period for:
Interest on deposits and borrowings

15,819

18,190

19,137

18,960

17,377

16,439

15,595

13,953

12,972

12,264

11,705

11,478

10,944

10,916

11,267

10,965

10,856

10,517

10,823

10,519

9,804

10,042

10,627

10,107

9,176

9,195

8,840

9,184

9,508

10,508

11,061

11,646

12,147

13,543

14,822

15,899

16,475

17,508

19,266

20,081

22,154

Income taxes

115

13,357

9,777

11,260

100

440

10,691

509

3,619

13,155

11,920

15,386

105

8,340

9,870

12,551

3,125

10,431

11,833

10,299

8,057

6,034

7,211

11,029

1,502

7,798

7,977

8,342

5,002

-

-

-

-

5,787

6,948

10,894

2,280

-

-

-

-

Non-cash investing activities:
Initial recognition of operating lease right-of-use assets

0

0

0

0

44,946

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Initial recognition of operating lease liabilities

0

0

0

0

46,050

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Transfer of loans receivable to foreclosed assets

2,067

1,464

0

623

227

292

428

572

673

1,650

176

311

1,708

550

552

1,009

1,520

1,931

3,016

3,981

1,146

847

329

1,725

2,481

194

871

2,861

2,676

1,440

4,306

5,237

5,270

15,742

3,174

6,124

366

1,009

1,490

1,939

557

Non-Cash Assets Acquired [Abstract]