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Provident Financial Services PFS Time deposits, insured cash sweep

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Other financials

Income statement

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Revenue$225.2M+7.9%
Net income$79.4M+24.0%
EPS (diluted)$0.61+24.5%

Balance sheet

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Cash & equivalents$222.1M-5.1%
Total debt$2.5B+5.7%
Total equity$2.9B+7.7%
Total assets$25.2B+4.0%

Cash flow

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Operating cash flow$84.7M-4.4%
CapEx$3.7M+223%
Free cash flow$81.0M-7.3%

Valuation

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Market cap$3.05B+44.0%
Enterprise value$5.36B+25.2%
P/E9.9×-4.4×
P/S3.4×+0.8×

Profitability

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Net margin34.6%+15.9pp
FCF margin47.8%-11.9pp

Returns & leverage

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Return on equity11.1%+4.3pp
Debt / equity0.9×0.0×

Where this comes from

Reported directly by Provident Financial Services in its filing.

Tagged under the XBRL concept pfs:TimeDepositsInsuredCashSweep.

The official record: Provident Financial Services’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Provident Financial Services's time deposits, insured cash sweep?
Provident Financial Services (PFS) reported time deposits, insured cash sweep of $1.09B in Q1 2026.
How has Provident Financial Services's time deposits, insured cash sweep changed year-over-year?
Provident Financial Services's time deposits, insured cash sweep decreased by 4.4% year-over-year, from $1.14B to $1.09B.
What is the long-term trend for Provident Financial Services's time deposits, insured cash sweep?
Over 2 years (2023 to 2025), Provident Financial Services's time deposits, insured cash sweep has grown at a 44.1% compound annual growth rate (CAGR), from $520.2M to $1.08B.
What does time deposits, insured cash sweep mean?
This metric captures time deposits sourced through insured cash sweep programs, which allow customers to maintain large balances while receiving FDIC insurance coverage. It represents a strategic funding channel used to attract and retain high-net-worth or institutional deposits. This category is monitored to understand the bank's reliance on brokered or sweep-based funding versus traditional core deposits.