Provident Financial Services (PFS) has provided an update.
On May 15, 2024, Provident Financial Services, Inc. successfully completed its merger with Lakeland Bancorp, Inc., marking a significant consolidation in the financial sector. This strategic move resulted in the merging of Lakeland into Provident, with shareholders of Lakeland receiving 0.8319 shares of Provident stock for each Lakeland share. Additionally, Lakeland Bank has merged into Provident Bank, creating a stronger financial entity. This merger not only transforms the landscape for the shareholders and customers of both institutions but also leads to changes in the board composition and governance, anticipating a positive impact on the market.
See more insights into PFS stock on TipRanks’ Stock Analysis page.
