Provident Financial reported net income of $79.4 million, or $0.61 per basic and diluted share, for the quarter ended March 31, 2026, down from $83.4 million, or $0.64 per share, in Q4 2025 but up from $64.0 million, or $0.49 per share, in Q1 2025. Annualized adjusted returns on average assets and equity were 1.29% and 11.21%, respectively, reflecting modest sequential declines in profitability ratios.

Pre-provision net revenue grew 13.5% year-over-year, adding $12.9 million driven by expanding net interest income and a 21.2% rise in insurance agency income. Total revenue held at $225.2 million, with net interest income of $193.7 million and record non-interest income of $31.5 million; net interest margin fell four basis points to 3.40% while core margin rose three basis points to 3.04%.

Average interest-earning assets increased by $264.1 million on an annualized basis, fueling a 10.3% annualized rise in C&I loans to $4.97 billion and a 3.9% annualized increase in total commercial loans to $17.09 billion. The loan pipeline reached a record $3.11 billion at a 6.24% weighted average rate, while the loan-to-deposit ratio edged up to 102.9% amid seasonal municipal outflows and lower brokered funding.

The company recaptured $2.1 million of prior credit loss provisions, partially offset by a $2.5 million reserve for off-balance commitments, resulting in $3.1 million of net charge-offs. Non-performing loans rose to 0.73% of total loans from 0.40%, driven by four senior housing commercial loans totaling $82.1 million in bankruptcy, while the allowance for credit losses fell to 0.90% of loans.