Anthony Labozzetta, President and CEO commented, "Provident reported strong financial results for the fourth quarter and full year 2022. Fourth quarter net income and net interest income represent record performance for Provident, as the net interest margin expanded 11 basis points from the trailing quarter and commercial loan growth remained strong, growing at an annualized rate of 9.7%. Our team continues to work diligently towards obtaining stockholder and regulatory approvals necessary to combine our two companies into a preeminent super-community bank. We remain excited regarding our opportunity to partner with Lakeland and serving the customers of the combined company." Book value per share and tangible book value per share(1) at December 31, 2022 were $21.25 and $15.12, respectively, compared with $22.05 and $16.02, respectively, at December 31, 2021.
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