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PFS News
PFS Events
Provident Financial Appoints Diane Gigliotti as Chief Accounting Officer
Provident Financial announced that Diane Gigliotti has been promoted to senior VP, chief accounting officer. Previously serving as the bank's controller, Gigliotti will report to Adriano Duarte, executive VP and CFO.
Provident Reports Q2 Tangible Book Value Per Share of $16.42
Reports Q2 tangible book value per share $16.42. Anthony J. Labozzetta, President and Chief Executive Officer commented, "Through the first half of 2026, Provident has grown earnings per share 17% year-over-year while also significantly improving our profitability and building capital. We achieved record pre-provision net revenue during the second quarter, driven by strong commercial loan production, expanding core margin and increasing contribution from non-interest income, which represented nearly 14% of total revenues. We are proud of the noticeable momentum of our organization, and I'm optimistic that we will continue to drive organic growth with an unchanged commitment to achieving top quartile risk-adjusted returns."
Provident Financial Appoints Adriano Duarte as CFO
Provident Financial announced the appointment of Adriano Duarte to executive VP and CFO of Provident Bank and Provident Financial, effective July 1. Duarte will report directly to Anthony Labozzetta, president and CEO of Provident Bank, and will serve as a member of the bank's executive leadership team. Duarte joined Provident in 2020 through the acquisition of SB One Bank and most recently served as executive VP and chief accounting officer. Duarte succeeds Thomas Lyons, who retired after a distinguished career spanning more than two decades with Provident.
Provident Reports Q1 Revenue of $225.2 Million
Reports Q1 revenue $225.2M, consensus $225.2M. Reports Q1 tangible book value per share $16.03. Reports Q1 net charge-offs .06%. Anthony J. Labozzetta, President and Chief Executive Officer commented, "Provident delivered another strong quarter of financial performance, demonstrating the continued momentum in our business and the effectiveness of our strategic initiatives. Pre-provision, net revenue grew 13.5% year-over-year, driven by strong loan growth, modest margin expansion, and notable growth in insurance agency income. The bank's loan pipeline of $3.1 billion sits at record levels, and we remain optimistic about continued earnings per share growth and compounding of tangible book value moving forward."
Provident Bank Appoints Joseph Tammaro as Head of Middle Market Lending
Provident Bank announced the appointment of Joseph Tammaro, Jr. as Executive Vice President, Head of Middle Market Lending. In this role, Mr. Tammaro will report to Bill Fink, Executive Vice President, Chief Lending Officer, and will be responsible for leading Provident's Middle Market Lending Group, including business development, customer relationship management, portfolio performance, credit quality, and risk management. He will also play a key role in strategic planning, team leadership and development, and partnering across the organization to deliver comprehensive lending, depository, Treasury Management, and foreign exchange solutions to our Middle Market customers. Most recently, he served as Senior Vice President and Group Head of Metro PA & NJ Middle Market Lending at TD Bank.
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