Provident Financial Services, Inc. priced a registered public offering of $175 million of 6.50% fixed-to-floating rate subordinated notes due 2036. The notes will pay 6.50% annual interest from Aug. 24, 2026, through Aug. 31, 2031, with semiannual payments beginning March 1, 2027. From Sept. 1, 2031, the rate will reset quarterly to an expected benchmark of Three-Month Term SOFR plus 239 basis points, with quarterly interest payments. The company may redeem the notes at par on Sept. 1, 2031, or on any later interest payment date, and intends to use the proceeds to repay $150 million of subordinated notes due 2031, $20 million of variable-rate junior subordinated notes due 2033 and for general corporate purposes. The offering is expected to close around Aug. 24, 2026, subject to customary conditions, and the notes are intended to qualify as Tier 2 capital.