Provident Financial Services, Inc. Announces Eighth Stock Repurchase Plan

Fri Dec 21, 2012 5:30pm EST

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JERSEY CITY, N.J.,  Dec. 21, 2012  /PRNewswire/ -- Provident Financial Services,
Inc. (NYSE:PFS) (the "Company") announced that its Board of Directors authorized
the Company's eighth stock repurchase program to commence upon completion of the
existing stock repurchase authorization.  Under the new authorization, the
Company may repurchase up to 5% of the amount of shares of common stock
currently outstanding, or approximately 3.0 million shares.  Repurchases will be
made from time to time and will be effectuated through open market purchases,
unsolicited negotiated transactions, or such other manner deemed appropriate by
management.  Completion of the repurchase program will not be limited to a
specific time period.  The Company's repurchase activities will take into
account SEC safe harbor rules and guidance for issuer share repurchases. 
Approximately 1.1 million shares remain eligible for repurchase under the
Company's existing authorization.

About the Company

Provident Financial Services, Inc. is the holding company for The Provident
Bank, a community-oriented bank offering a full range of retail and commercial
loan and deposit products.  The Bank currently operates a network of full
service branches throughout 11 counties in northern and central  New Jersey.

Forward Looking Statements  

Certain statements contained herein are "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Such forward-looking statements may be
identified by reference to a future period or periods, or by the use of
forward-looking terminology, such as "may," "will," "believe," "expect,"
"estimate," "anticipate," "continue," or similar terms or variations on those
terms, or the negative of those terms. Forward-looking statements are subject to
numerous risks and uncertainties, including, but not limited to, those related
to the economic environment, particularly in the market areas in which the
Company operates, competitive products and pricing, fiscal and monetary policies
of the U.S. Government, changes in government regulations affecting financial
institutions, including regulatory fees and capital requirements, changes in
prevailing interest rates, acquisitions and the integration of acquired
businesses, credit risk management, asset-liability management, the financial
and securities markets and the availability of and costs associated with sources
of liquidity.  

The Company cautions readers not to place undue reliance on any such
forward-looking statements which speak only as of the date made. The Company
advises readers that the factors listed above could affect the Company's
financial performance and could cause the Company's actual results for future
periods to differ materially from any opinions or statements expressed with
respect to future periods in any current statements. The Company does not
undertake and specifically declines any obligation to publicly release the
result of any revisions which may be made to any forward-looking statements to
reflect events or circumstances after the date of such statements or to reflect
the occurrence of anticipated or unanticipated events.

Web Site:

SOURCE  Provident Financial Services, Inc.

Investor Relations, Provident Financial Services, Inc., +1-732-590-9300
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