Provident Bank Survey: 70% of Businesses to Increase Capex, 57% to Boost Hiring
Provident Bank’s 2026 Economic Outlook Survey shows 70% of U.S. businesses plan higher capital expenditures (up from 68%) and 57% plan increased hiring (versus 53%), while AI adoption expectations rose to 58% from 41%. Over half anticipate a stronger U.S. economy and over 60% expect improved business performance.
1. Business Owners Pivot to Investment in 2026
Provident Financial Services, Inc. released results of its annual Economic Outlook Survey, conducted by Pollfish among 1,000 U.S. business owners with over $1 million in annual revenue. The data reveal a marked shift from the “wait and see” stance of 2025 to active expansion in 2026: 70 percent of respondents plan to increase capital expenditures, up from 68 percent last year, and the share expecting to make a “significant increase” in spending jumped from 11 percent to 19 percent. Hiring intentions have risen as well, with 57 percent of businesses targeting workforce growth, compared with 53 percent in the prior survey, and those planning substantial headcount additions climbing from 8 percent to 17 percent. Technology adoption—particularly artificial intelligence—has also accelerated, with 58 percent already using or planning to adopt AI tools versus 41 percent a year ago. Generational differences are pronounced: 44 percent of Gen Z owners foresee their companies in “much better shape” next year, against 14.5 percent of Boomers, and younger cohorts favor aggressive expansion while older cohorts emphasize operational efficiency and cost control. Despite optimism, inflation remains a top concern for 49 percent of respondents and policy uncertainty has risen to 37 percent.
2. Earnings Conference Call Scheduled for Late January
Provident Financial Services, Inc. announced that it will release fourth quarter and full-year 2025 financial results on January 27, 2026, after market close. The company will host a conference call for investors on January 28 at 10:00 a.m. Eastern Time. Participants may dial in via North America toll-free at (888) 412-4131 or internationally at +1 (646) 960-0134, using conference ID 3610756. A live, listen-only webcast will be accessible through the Investor Relations section of the company’s website. A replay will be available from 12:00 p.m. January 28 through 11:59 p.m. February 11, via toll-free numbers in the U.S. and Canada or international lines, with Playback ID 3610756 followed by the pound key. Provident Financial Services reported assets of $24.8 billion as of September 30, 2025, and its banking subsidiary operates over 140 branches across New Jersey, eastern Pennsylvania, and New York’s Orange, Queens and Nassau counties, supplemented by wealth management and insurance services.