PROVIDENT FINANCIAL SERVICES, INC. PFS Cash Flow

Provident financial services, inc. (PFS)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities:
Net income
96,674	112,633	122,445	126,514	121,364	118,387	102,107	93,214	98,354	93,949	97,033	93,364	90,337	87,802	86,750	84,453	84,893	83,722	83,426	81,849	76,404	73,631	69,814	66,858	69,735	70,534	69,814	69,892	66,667	67,267	65,455	64,867	62,841	57,344	54,589	52,486	51,449	49,705	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangibles
10,435	10,395	10,450	10,235	9,957	10,101	10,372	10,744	11,197	11,623	11,913	12,146	12,461	12,760	13,114	13,413	13,704	13,714	13,692	13,457	12,372	11,133	9,837	8,740	8,578	8,776	8,924	9,061	9,175	9,327	9,451	9,569	9,552	9,660	9,873	10,122	10,441	10,748	0	0	0
Provision for credit losses
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for credit loss for off-balance sheet credit exposure
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment charge premises & equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	807	0	0	0	-	-	-	-
Provision for loan losses
-	-	-	-	-	23,700	23,800	23,300	9,500	5,600	4,900	5,400	5,400	5,400	5,450	5,850	5,250	4,350	4,350	4,450	4,850	4,650	5,200	4,900	4,400	5,500	7,700	10,000	12,500	16,000	18,000	22,000	26,000	28,900	31,800	32,900	34,400	35,500	0	0	0
Deferred tax (benefit) expense
-3,002	1,674	2,748	2,364	-17,372	-18,541	18,593	17,683	40,017	40,634	3,477	3,888	5,336	3,160	45	-1,759	-966	326	3,603	4,043	3,018	3,666	1,335	5,590	6,723	5,531	8,650	4,632	-345	-1,134	-2,835	-4,283	-1,994	-3,762	-9,245	-6,582	-5,775	-3,739	0	0	0
Amortization of operating lease right-of-use assets
8,513	8,433	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net decrease in operating lease liabilities
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income on Bank-owned life insurance
5,388	6,297	5,127	5,938	5,946	5,514	6,042	5,312	6,568	6,693	6,678	6,707	5,527	5,470	5,515	5,381	5,329	5,345	5,318	5,419	5,679	5,633	5,469	5,321	6,688	6,596	6,736	6,808	5,124	5,276	13,135	5,140	5,196	5,242	-14,460	-6,450	-5,938	-5,948	0	0	0
Net amortization of premiums and discounts on securities
-7,946	-7,789	-7,545	-7,680	-8,017	-8,540	-9,058	-9,495	-9,777	-9,948	-10,427	-10,705	-10,880	-10,831	-10,367	-10,253	-10,359	-10,613	-10,914	-11,066	-10,840	-10,461	-10,161	-10,457	-11,380	-12,942	-14,912	-16,160	-16,670	-16,545	-16,290	-25,884	-13,039	-12,680	-12,499	-779	-11,433	-9,983	0	0	0
Accretion of net deferred loan fees
5,944	5,643	5,801	5,862	5,707	5,773	4,826	4,637	4,795	4,655	4,581	4,203	3,867	3,408	4,372	4,346	4,365	4,624	3,740	3,728	3,564	3,364	3,296	3,354	3,332	3,877	3,847	3,856	3,952	3,493	3,108	5,082	2,792	2,165	1,851	-1,414	618	1,006	0	0	0
Amortization of premiums on purchased loans, net
877	845	801	817	854	894	898	910	1,002	1,021	1,175	1,313	1,332	1,311	1,215	1,050	1,006	1,100	989	905	833	694	744	883	1,115	1,286	1,490	1,617	1,591	1,694	4,506	1,909	2,720	1,902	2,108	3,854	2,168	2,038	0	0	0
Net increase in loans originated for sale
16,292	16,212	41,147	41,500	35,868	36,043	15,862	15,731	28,065	24,938	20,628	40,978	33,368	34,976	37,665	14,955	10,647	11,918	12,316	13,798	8,211	12,609	17,718	20,157	28,798	30,977	24,436	27,447	37,814	36,723	47,236	50,183	28,482	21,394	12,734	2,000	18,783	18,139	0	0	0
Proceeds from sales of loans originated for sale
17,322	17,202	42,437	42,917	37,073	37,386	17,422	31,498	30,826	26,387	21,448	28,551	34,176	37,008	39,975	16,042	11,664	12,799	13,687	15,425	9,684	14,018	18,811	21,093	30,013	32,447	25,603	28,891	39,708	38,684	50,145	42,380	30,181	22,675	13,349	13,238	19,960	19,316	0	0	0
Proceeds from sales and paydowns of foreclosed assets
1,025	1,354	5,776	6,703	8,082	7,963	3,790	3,946	3,722	5,423	7,275	7,148	7,213	6,109	5,263	4,667	5,218	4,443	4,811	5,232	5,408	6,494	7,268	13,521	12,421	13,686	14,017	11,098	15,466	16,484	23,450	22,270	18,616	15,746	0	0	0	-	-	-	-
ESOP expense
4,379	4,533	4,362	4,430	4,506	4,516	4,708	4,685	4,590	4,600	4,532	4,296	4,055	3,706	3,219	3,137	3,056	2,997	2,583	2,561	2,585	2,654	2,793	2,784	2,688	2,559	2,175	2,122	2,072	2,030	2,052	1,926	1,916	1,926	2,077	2,050	1,982	1,840	0	0	0
Proceeds from sales of foreclosed assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Allocation of stock award shares
6,276	6,671	6,303	5,994	6,409	6,046	5,888	5,608	5,447	4,963	4,532	4,111	3,630	3,812	4,112	4,388	4,496	4,625	4,805	5,157	5,905	6,359	6,356	5,721	5,259	4,869	3,974	4,530	3,630	3,658	3,934	3,470	3,341	3,198	3,104	2,876	2,647	2,422	0	0	0
Allocation of stock options
186	181	184	185	187	190	194	199	204	203	191	181	170	172	203	232	246	272	273	274	291	298	312	308	305	297	446	438	434	452	363	485	602	719	775	797	827	826	0	0	0
Excess tax benefits related to stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain on sale of loans
1,030	990	1,039	1,417	1,205	1,343	1,811	1,667	1,771	1,449	820	1,673	1,798	2,032	2,310	1,087	1,017	881	1,371	1,627	1,473	1,409	1,093	936	1,215	1,470	1,169	1,444	1,894	1,961	2,907	2,695	1,699	1,281	615	741	1,177	1,177	0	0	0
Net gain on securities transactions
83	72	2,247	2,249	2,220	2,221	13	47	58	57	57	-22	-32	64	58	106	748	654	654	1,136	603	251	269	-178	135	996	2,989	3,247	2,825	4,497	2,504	2,920	2,877	708	738	40	82	885	0	0	0
Net gain on sale of premises and equipment
641	0	0	0	0	-	-	-	-	-	-	-	-	14	14	14	3	4	4	-2	9	5	5	72	43	42	643	507	591	633	-282	-79	-319	-271	14	-111	76	-17	0	0	0
Net gain on sale of foreclosed assets
162	190	267	315	674	798	764	877	712	819	701	851	847	585	1,048	687	650	592	215	271	374	516	882	983	727	403	170	0	-314	-75	-127	-124	114	127	27	-19	28	-5	0	0	0
Decrease in accrued interest receivable
-3,381	-2,444	-693	1,631	610	1,829	2,386	2,467	3,901	2,564	2,093	1,613	1,270	1,316	1,071	-151	857	538	47	18	-257	-787	-174	-448	-359	-1,046	-1,288	-879	-602	-651	-471	-2,628	-824	-604	-726	1,596	-1,250	-540	0	0	0
(Increase) decrease in other assets
132,378	46,237	39,055	24,594	-8,162	-5,266	55,496	45,132	53,552	52,078	-20,574	-18,026	-11,152	-5,873	11,554	9,736	2,950	4,912	26,879	25,881	21,995	17,105	-10,518	-7,264	-9,497	-4,202	9,893	12,280	16,314	9,228	9,521	27,991	12,359	13,900	24,615	2,280	13,344	16,146	0	0	0
Decrease (increase) in other liabilities
118,203	25,312	4,232	13,358	-654	4,817	49,864	24,872	9,840	6,142	-18,558	-22,606	-15,562	-2,770	7,316	14,265	9,055	5,373	15,219	11,030	9,048	7,721	1,099	4,437	2,424	173	3,252	548	-1,076	2,482	-5,936	-9,416	-11,653	-9,468	-2,303	4,829	3,682	1,372	0	0	0
Net cash provided by operating activities
138,914	136,925	131,596	154,367	154,880	155,719	159,457	150,239	125,034	117,220	133,353	110,510	123,925	127,309	113,422	119,830	121,415	114,866	107,808	103,573	99,587	101,674	116,124	122,793	124,393	119,921	108,249	100,166	94,697	108,291	107,822	108,269	97,535	93,833	80,894	86,459	99,408	92,261	0	0	0
Cash flows from investing activities:
Proceeds from maturities, calls and paydowns of held to maturity debt securities
48,489	42,696	33,597	28,828	29,032	39,534	50,064	55,079	61,986	55,720	56,112	71,277	66,838	62,975	59,308	38,026	43,733	37,271	32,203	33,157	27,012	41,057	56,219	71,309	85,631	97,974	93,142	89,258	79,804	77,207	96,187	93,129	93,384	78,697	59,299	55,006	53,577	48,816	0	0	0
Purchases of held to maturity debt securities
24,197	20,303	24,756	33,434	37,786	43,887	44,927	38,792	42,478	47,894	64,364	87,991	86,387	80,349	66,798	47,741	45,293	44,254	46,720	53,263	63,691	73,397	77,548	93,823	102,101	97,964	101,310	79,571	72,408	89,281	97,985	108,330	104,002	81,566	76,813	72,247	61,167	60,227	0	0	0
Proceeds from sales of available for sale debt securities
-	-	-	-	-	-	-	-	-	-	-	-	-	3,401	3,401	2,193	16,111	14,005	14,085	24,031	18,948	25,033	24,953	15,007	13,000	14,834	70,512	74,471	67,556	106,768	0	0	0	-	-	-	13	18,926	0	0	0
Proceeds from maturities and paydowns of available for sale debt securities
248,014	223,806	192,828	186,926	181,669	196,690	215,196	221,327	226,598	220,138	224,918	219,123	219,441	211,440	193,444	208,759	207,065	212,095	215,375	211,976	208,917	207,531	210,343	246,748	289,621	351,472	433,991	451,828	476,471	488,590	476,439	462,208	422,764	421,368	424,793	415,982	532,582	506,595	0	0	0
Purchases of available for sale debt securities
122,810	117,022	164,379	207,740	215,306	237,076	268,385	267,115	243,502	228,363	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of securities available for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	237,464	187,388	167,464	129,720	111,176	118,389	60,038	63,835	130,814	170,039	250,548	303,334	353,968	429,488	376,513	495,726	570,395	602,766	634,890	449,419	392,513	419,464	540,489	566,082	0	0	0
Proceeds from redemption of Federal Home Loan Bank stock
169,306	172,293	161,156	140,751	136,798	145,191	144,014	148,122	137,743	130,125	105,788	83,405	66,282	56,505	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of Federal Home Loan Bank stock
161,870	160,778	157,968	138,842	130,835	132,820	145,027	145,945	135,704	135,583	105,665	86,044	70,783	54,050	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net decrease (increase) in Federal Home Loan Bank stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
BOLI claim benefits received
3,876	1,891	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of loans
-	-	-	-	-	-	-	-	-	-	-	-	-	28,590	47,387	74,111	100,181	95,283	112,562	149,275	145,686	130,540	107,225	61,235	40,515	34,766	-19,683	29,318	57,449	73,740	125,968	69,549	49,806	79,521	90,351	111,782	115,941	90,430	0	0	0
Net (increase) decrease in loans
147,288	79,812	-2,372	37,018	-71,973	-79,388	245,427	233,947	293,075	322,443	115,161	238,802	362,479	440,999	414,110	402,682	420,336	363,436	358,422	251,897	88,930	129,240	144,427	406,981	320,231	259,359	32,414	-243,030	-205,402	-191,904	-153,960	-240,370	-181,323	-189,317	-144,002	-24,782	-20,468	58,783	0	0	0
Proceeds from sales of premises and equipment
641	0	0	0	0	-	-	-	-	-	-	-	-	14	14	23	18	19	0	0	0	-	-	-	0	-	-	-	-	638	10,090	11,594	11,600	11,977	1,952	454	1,781	2,101	0	0	0
Purchases of premises and equipment
5,953	4,882	4,000	3,381	3,253	3,162	3,499	3,262	3,144	3,231	2,928	3,692	3,826	4,995	4,980	5,098	5,519	5,909	6,723	8,773	12,813	16,441	15,490	13,411	12,320	7,709	7,871	8,291	7,841	7,658	6,205	6,851	5,950	8,546	13,697	12,157	10,545	8,506	0	0	0
Net cash (used in) provided by investing activities
-6,814	42,867	-7,499	-72,875	35,139	46,705	-231,247	-240,658	-266,382	-306,337	-166,884	-316,137	-480,262	-580,799	-506,859	-465,903	-501,625	-408,683	-399,600	-337,016	-50,568	-74,553	-147,580	-189,994	-346,914	-259,344	-134,627	-173,533	-95,215	-185,106	-320,062	-396,909	-384,211	-279,432	-215,082	-168,990	-159,134	-88,501	0	0	0
Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract]
Net increase in deposits
307,304	272,487	241,630	201,022	146,873	115,956	128,525	173,412	226,713	160,537	63,718	270,651	375,008	629,642	701,885	415,665	331,811	131,464	97,658	-23,811	-138,307	-179,886	-298,360	-181,522	-85,865	-226,504	-118,004	42,899	81,707	271,674	299,385	213,050	306,875	278,863	169,736	86,547	3,284	-21,443	0	0	0
Increase in mortgage escrow deposits
1,107	1,236	459	-483	369	-365	327	1,165	703	1,481	901	703	655	1,107	165	2,268	1,983	1,696	2,575	2,985	1,402	1,250	-235	81	-117	-666	613	-1,186	-829	283	994	1,709	1,907	1,397	1,707	1,351	1,366	845	0	0	0
Cash dividends paid to stockholders
59,341	72,809	72,056	70,872	68,930	53,604	62,460	61,720	60,989	59,980	48,887	47,456	46,677	45,369	44,616	43,210	41,808	41,285	39,905	39,181	37,726	36,118	35,378	34,027	33,424	32,320	42,613	42,048	41,485	40,729	28,727	28,108	27,486	26,805	26,210	25,596	24,995	24,984	0	0	0
Shares issued dividend reinvestment plan
1,841	2,230	2,179	2,153	2,130	1,709	2,069	2,063	2,058	2,114	1,815	1,811	1,762	1,652	1,554	1,469	1,435	1,447	1,386	1,406	1,379	1,336	1,362	1,308	1,277	1,244	1,567	1,553	3,916	6,090	0	0	0	-	-	-	-	-	-	-	-
Purchase of treasury stock
24,672	19,867	32,864	17,222	13,352	13,172	175	0	0	443	443	443	444	1,557	1,557	-376	-326	0	-854	1,600	1,548	3,547	4,417	3,896	8,941	5,899	9,687	9,687	8,325	9,424	6,884	9,450	5,776	4,139	2,877	324	318	193	0	0	0
Purchase of employee restricted shares to fund statutory tax withholding
1,027	1,985	2,030	2,002	2,018	1,896	1,903	1,916	1,867	778	790	789	787	1,225	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock options exercised
124	139	172	939	847	1,007	1,394	646	621	2,954	3,134	6,083	6,385	6,198	6,710	4,731	5,092	3,166	2,027	1,076	512	117	299	307	336	354	0	0	0	-	-	-	-	9	0	0	0	-	-	-	-
Proceeds from long-term borrowings
1,790,554	1,243,000	1,094,000	508,000	515,000	695,000	708,780	700,020	541,580	347,000	311,567	275,328	257,562	355,000	526,653	616,652	779,878	694,937	650,666	602,769	495,989	595,063	490,334	573,231	462,991	301,000	0	0	0	-	-	-	-	236,300	360,100	306,300	310,800	245,800	0	0	0
Payments on long-term borrowings
1,636,350	1,549,551	1,048,890	799,541	881,925	804,375	841,798	748,560	584,546	539,745	435,184	391,885	370,143	485,202	622,433	688,175	669,003	549,935	410,808	284,894	351,757	289,757	228,753	195,251	83,684	79,090	81,696	75,702	75,709	55,700	53,957	123,765	197,608	280,088	347,061	352,855	334,218	322,043	0	0	0
Net (decrease) increase in short-term borrowings
-338,917	-10,585	-194,961	162,250	175,327	-190,857	137,372	13,860	-7,505	322,514	126,809	127,499	182,999	35,315	-142,480	52,225	-9,138	52,779	29,786	-52,141	-8,874	-112,168	100,123	-41,096	-13,101	178,705	48,722	110,621	16,649	-61,216	-24,189	41,042	21,086	-5,715	-4,083	-17,612	-19,358	46,693	0	0	0
Net cash provided by financing activities
40,623	-135,705	-12,361	-15,756	-125,679	-250,597	72,131	78,970	116,768	235,654	22,640	241,502	406,320	495,561	424,678	358,868	397,447	292,281	331,420	205,736	-39,803	-24,583	24,975	119,135	239,472	136,824	14,111	76,627	-4,030	111,006	195,777	178,596	250,959	203,002	150,800	-2,170	-63,385	-75,274	0	0	0
Net increase in cash and cash equivalents
172,723	44,087	111,736	65,736	64,340	-48,173	341	-11,449	-24,580	46,537	-10,891	35,875	49,983	42,071	31,241	12,795	17,237	-1,536	39,628	-27,707	9,216	2,538	-6,481	51,934	16,951	-2,599	-12,267	18,486	-4,548	34,191	-16,463	-125,270	-35,717	17,403	16,612	-84,701	-123,111	-71,514	0	0	0
Cash paid during the period for:
Interest on deposits and borrowings
72,106	73,664	71,913	68,371	63,364	58,959	54,784	50,894	48,419	46,391	45,043	44,605	44,092	44,004	43,605	43,161	42,715	41,663	41,188	40,992	40,580	39,952	39,105	37,318	36,395	36,727	38,040	40,261	42,723	45,362	48,397	52,158	56,411	60,739	64,704	69,148	73,330	79,009	0	0	0
Income taxes
34,509	34,494	21,577	22,491	11,740	15,259	27,974	29,203	44,080	40,566	35,751	33,701	30,866	33,886	35,977	37,940	35,688	40,620	36,223	31,601	32,331	25,776	27,540	28,306	25,619	29,119	0	0	0	-	-	-	-	25,909	0	0	0	-	-	-	-
Non-cash investing activities:
Initial recognition of operating lease right-of-use assets
0	44,946	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Initial recognition of operating lease liabilities
0	46,050	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer of loans receivable to foreclosed assets
4,154	2,314	1,142	1,570	1,519	1,965	3,323	3,071	2,810	3,845	2,745	3,121	3,819	3,631	5,012	7,476	10,448	10,074	8,990	6,303	4,047	5,382	4,729	5,271	6,407	6,602	7,848	11,283	13,659	16,253	30,555	29,423	30,310	25,406	10,673	8,989	4,804	4,995	0	0	0
Non-Cash Assets Acquired [Abstract]