Operator: Hello, everyone. Thank you for joining us, and welcome to the Provident Financial Services second quarter 26 earnings conference call. After today's prepared remarks, we will host a question-and-answer session. If you would like to ask a question, please press star 1 to raise your hand. To withdraw your question, press star 1 again. I will now hand the conference call over to Michael Anthony Perito, Head of Investor Relations. Please go ahead.

Michael Anthony Perito: Thank you. Good morning, everyone, and thank you for joining us for our second quarter 26 earnings call. Today's presenters are President and CEO, Tony Labozzetta and Executive Vice President and Chief Financial Officer, Adriano Duarte. Before beginning their review of our financial results, we ask that you please take note of our standard caution as to any forward looking statements that may be made during the course of today's call. Our full disclaimer is contained in last evening's earnings release which has been posted to the Investor Relations page on our website, provident.bank. Now I would like to hand it off to Tony Labozzetta, will offer his perspective on our second quarter. Tony?

Anthony J. Labozzetta: Thank you, Michael. And good morning, everyone. I appreciate you joining us today to discuss our second quarter 26 results. I am pleased to report another outstanding quarter of performance that validates the momentum we have built across our business. Through the first half of 26, we have grown earnings per share by 17% as compared to the same period last year while also significantly improving our profitability. More specifically, in the second quarter, we delivered net earnings of $78 million or $0.60 per diluted share. And core net earnings of $80 million or $0.61 per share. Our annualized adjusted return on average assets was 1.27% and our adjusted return on average tangible common equity was over 16%. This quarter's results highlighted by record revenues driven by expanding net interest income and non interest income. Our adjusted pre provision net revenue reached a record $118 million. Representing $0.90 per share at an annualized core PPNR return on average assets of 1.87%. This represents a 23 basis points improvement compared to the same quarter last year. And underscores the positive operating leverage that we generated as we continue to grow. Speaking of growth, our commercial loan team delivered exceptional results in the second quarter. Demonstrating the strength and depth of its capabilities. In the second quarter, we funded $700 million in new commercial loans, bringing our year to date commercial loan fundings to over $1.1 billion On a net basis, total commercial loans grew 10% annualized. Driven primarily by 20% growth in our C and I group. We ended the quarter with a record pipeline of $3.2 billion This represents our second consecutive quarter with both our Cree and C and I pipelines exceeding $1 billion a significant milestone that demonstrates the balanced, diversified nature of our growth strategy. As a result of our strong production and pipeline, we believe our loan growth expectations for the full year should be guided towards the high end of the range. Shifting to deposits. The operating environment has become very competitive for incremental funding. Particularly in consumer and municipal segments. Core deposits adjusted for normal seasonality our municipal portfolio increased $67 million in the second quarter. Representing a 2% annualized growth rate. This was largely driven by growth in commercial deposits, including our treasury management group. Despite the competitive environment, we remain encouraged by some of the deposit growth opportunities the bank is generating. Particularly within our commercial and small business customer segments. We remain committed to driving sustainable core funding growth through continued strategic investments in our people, products, and capabilities. So far in 2026, we have added several senior deposit focused bankers, who have built a nearly $150 million deposit pipeline as of June 30. We also continue to make investments in deposit initiatives within digital, small business and municipal banking. Asset quality metrics all improved when compared to the prior quarter. A trend we expect to continue in the second half of 26. With respect to the senior housing commercial relationship, which migrated to nonaccrual last quarter, The bankruptcy process is proceeding as expected. We have increased visibility towards final resolution and still expect all 4 credits to be settled by year end with no material loss to the bank. Excluding this relationship, which totaled $82 million, our non performing loans would be just 27 basis points of total loans as of June 30. Overall, we continue to feel good about our asset quality and the discipline that we have maintained building our loan portfolio. In addition to the strong top line results and improved credit metrics, we achieved record noninterest income of $32 million in the second quarter. Year to date, our noninterest income has reached $64 million or 14% of total revenue. Which is up from 12.5% in the first 6 months of 2025. We are proud of the progress we have made towards our goal of having nonspread income exceed 20% of our revenues even as our net interest income continues to grow. Provident protection Plus continues to be a standout performer and a differentiator for our franchise. Top line revenues are up 18% in the first half of 26 versus the comparable period in 2025. This strong performance is driven by both industry leading customer retention and new client acquisition. The pipeline for our insurance business heading into the second half of 26 remains robust. Similarly, we are encouraged by Beacon Trust's recent performance. With revenues in the first half of 26 up 5% when compared to last year, Beacon Trust assets under management grew to $4.5 billion during the second quarter benefiting from market appreciation and improved client retention. Our SBA group had another good quarter of originations and loan sale activity, with gain on sale revenues up 16% in the first half of 26 when compared to 2025. The momentum we have established across all of our fee based businesses gives us confidence that noninterest income will continue to be a significant driver of our financial performance moving forward. Lastly, I just wanted to comment on a couple of important enterprise initiatives. Which will be critical to our long term success. Our previously disclosed core conversion continues track well towards our Labor Day target. Despite our intense focus on the conversion, we also continue to make progress on other technology initiatives ranging from digital capabilities to AI. Our team has built an internal AI agent, to be utilized by employees following conversion. To help quickly provide answers to customer inquiries This project is a great example of how people can utilize technology to efficiently deliver a differentiated customer experience. I am incredibly proud of the hard work of our employees. Our strong performance is the direct result of the culture we have built at Provident. Now I would like to turn the call over to Adriano for his comments on our financial performance. Adriano?

Adriano Duarte: Thank you, Tony and good morning, everyone. As Tony noted, our adjusted net income increased 11% versus the second quarter 25, to $80 million or $0.61 per share. A return on average assets of 1.27%. Adjusting for the amortization of intangibles, our core return on average tangible common equity was 16.2%. Core pre provision net revenue was $118 million or an annualized 1.87% of average assets. An 18% increase from the $100 million or 1.64% of average assets reported for the second quarter of 25. Our record revenue of $235 million was driven by record net interest income of $203 million and record noninterest income of $32 million. Average earning assets increased by $272 million for an annualized 4.7% versus the trailing quarter with an average yield on assets decreasing 8 basis points to 5.61%. Interest bearing deposit costs fell 2 basis points versus the trailing quarter, to 2.37%, while total deposit costs also declined 2 basis points to 1.92%. Our reported net interest margin expanded 8 basis points versus trailing quarter to 3.48%, which included a $2.2 million interest income recovery on resolved non performing loans equating to a 4 basis point benefit. Core net interest margin expanded 5 basis points to 3.09%. We are currently modeling no further Federal Reserve rate action for the remainder of 2026. And project approximately 1 to 2 basis points of core NIM expansion in the third and fourth quarter. Overall, we expect reporting NIM inclusive of purchase accounting accretion to come in at approximately 3.45% to 3.50% for the remainder of 2026. Period end loans held for investment increased $398 million or an annualized 8% for the quarter. Our pull through adjusted loan pipeline at quarter end was $1.8 billion The pipeline rate of 6.33% is accretive relative to our current portfolio yield of 5.9%. Area and deposits increased $445 million for the quarter, or an annualized 9%. Driven by higher broker deposit balances and growing commercial deposits. As a reminder, we elected to utilize lower cost FHLB borrowings in the first quarter to offset seasonal outflows in the municipal deposit portfolio. Due to the elevated pricing in the broker deposit market. This quarter, we returned to utilizing broker deposits which was the largest driver of the linked quarter increase our loan to deposit ratio improved slightly quarter over quarter to 102.6% and we continue to target a 97% to 103% range on this ratio. Asset quality remains strong with nonperforming assets representing 54 basis points of total assets. Net charge offs were $1.9 million, an annualized 4 basis points of average loans this quarter. We recorded a provision for credit losses of $9.3 million for the quarter, as loan growth required specific reserves on individually evaluated impaired credits increased and changes in our portfolio mix warranted higher pool reserves. This brought our allowance coverage ratio up 2 basis points from the trailing quarter to 92 basis points of loans on June 30. Noninterest income increased to $32 million this quarter with solid performance from our insurance and wealth management divisions. As well as year over year increases in core banking fees and gains on SBA loan sales. Core noninterest expense decreased slightly to $116.9 million when adjusted for nonoperating expense items related to our systems of $1.5 million and severance costs of $900 thousand. Core expenses to average assets and the efficiency ratio both improved from the trailing quarter, to 1.85% and 49.8% respectively. We continue to project quarterly operating expenses of approximately $117 million to $119 million As we noted last quarter, in addition to normal expenses, we will be upgrading our core systems in Q3 of 26 and expect additional nonrecurring charges of approximately $4.5 million over the remainder of 2026. Our continued sound financial performance supported earning asset growth and again drove strong capital formation. Tangible book value per share increased $0.39 or 2.4% this quarter to $16.42 and our tangible common equity ratio increased to 8.6% from 8.03% year over year. Our CRE concentration ratio was 399%, adjusted for purchase accounting marks at quarter end. There were no buybacks during the second quarter, and we have over 2 million shares remaining on our share repurchase authorization. Lastly, I would like to share a couple of updates to our guidance following the strong start to 2026. We expect loan and deposit growth to be at the high end of our initial range now expecting 5% to 6% full year growth. We also are raising our noninterest income guide for the third and fourth quarters to $29 million per quarter versus $28.5 million previously. We expect full year effective tax rate of approximately 28% to 28.25%. We continue to target a core ROA of 1.2% to 1.3% with a mid teens return on average tangible common equity. That concludes our prepared remarks. We would be happy to respond to questions.

Operator: We will now begin the question and answer session. If you would like to ask a question, please press star 1 to raise your hand. To withdraw your question, press star 1 again. We ask that you pick up your handset when asking a question to allow for optimum sound quality. If you are muted locally, please remember to unmute your device. Please stand by while we compile the roster. Your first question comes from Feddie Strickland with Hovde. Your line is open. Please go ahead.

Feddie Strickland: Hey. Good morning. Wanted to ask on deposits. Morning. Seems like really good, momentum in the back half of the year here. And you mentioned favorable repricing of deposits and the release. Is there much more to go there on the time deposit side just in terms of maturities coming up that can maybe reprice lower to offset some competitive pressures on new deposits? Or do we kind of see costs start to tick up from here?

Adriano Duarte: This is AD. We expect costs to actually go up 1 or 2 basis points over the next couple of quarters, mainly on pressures, as you have mentioned, on CDs and probably in competitive nature in our in our market at this point. The pickup on the interest margin is going to be mainly driven by the back book repricing. And some impact from cash flows on the securities portfolio.

Feddie Strickland: Got it. And then just 1 other question on the loan yield. Purchase accounting accretion step up some in the quarter? Or was some of the difference between core and GAAP NIM caused by some interest recoveries as well?

Adriano Duarte: Mainly interest recoveries, Feddie. For the quarter, was pretty stable versus the prior quarter. It was really driven by backward repricing in core net expansion.

Feddie Strickland: Got it. And just 1 last question for me just on credit. I noticed you did not change the guide on charge offs for the year, but the first half charge offs are pretty meaningfully below that 10 to 15 basis point range. Is that just conservatism as you work some of these larger credits in the back half of the year?

Anthony J. Labozzetta: I think that the charge off expectation is in line with the risk profile that we take. And I think our--if you look at what we cannot promise is that a loan will not go NPA, but what we can promise is what the outlook looks like. So in terms of recovery, our team has done a wonderful job terms of working out the credits. We just do not have a ton in there, but as I as I mentioned in my prepared remarks, you know, we do have that 1--that 1 relationship that as an example, that went into NPA in the first quarter. And we see that resolving by the fourth quarter with no real material loss or any loss whatsoever for us. So, again, I think we expect to see charge offs remain low based on the nature of our of how we underwrite and the risks that we are willing to take as an organization. So I will I will stop there.

Feddie Strickland: Alright. Great. that is helpful. Thanks for taking my questions. I will step back.

Anthony J. Labozzetta: Thank you.

Operator: Your next question comes from the line of Timothy Switzer with KBW. Your line is open. Please go ahead.

Timothy Switzer: Morning, Tim, on the loan side, along with NIM expansion, it is kind of rare to see this quarter. Can you talk about what you are seeing from a competitive standpoint, particularly in lending? And like, are there any pressures from maybe the larger banks in your area or anything on pricing?

Anthony J. Labozzetta: I would say on the loan side, we from our vantage point, we are not seeing what I would call irrational yet, and kind of my definition of irrational would be structural breakdowns in the underwriting component where we are seeing too big of a spread to be competitive against. There is competition. No doubt. I just do not see it on the irrational side yet. I see competition heightening more on the funding side of the balance sheet than I do on the lending side. Which is supported by the $3.2 billion pipeline that we have both and it is split I would say, larger towards C and I which can become more competitive in today's environment. Everybody's chasing that. So, again, I would say from our vantage point, I know others might feel differently, but we are not--we are seeing competition, but not irrational. I will stop there.

Timothy Switzer: Okay. Yeah. it is good to hear. And given your guys'--your guys' expectation for the NIM to continue to move higher, how much of that is driven by some of the loan back book repricing? And, you know, what is the gap on new loan yields versus old?

Adriano Duarte: So I will speak specifically to the fixed portion. The fixed rate portion of the loan portfolio. Which has about $3 billion in cash flows coming in for the next 12 months. The weighted average yield, including purchase accounting marks, is about 5.6 on that, so we should be picking up about 4 basis points just on that backward repricing. So the spread between that and the pipeline, you are talking about 70 basis points. Tim?

Timothy Switzer: Okay. And then the last 1 for me. Can you update us on your thoughts on M and A and, you know, how active you might be in participating in any discussions? In your markets right now?

Anthony J. Labozzetta: Sure. Sure. You know, M&A is certainly part of our strategy, but I just like to go back to and say that our number 1 focus and priority as an organization remains on organic growth. Across our businesses, which we are we are experiencing And a lot of focus on the funding side of the balance sheet, which we are feeling pretty good about the second half of the year as we move forward. You know, however, the M&A environment, which was sort of picking up a bunch of steam, has sort of settled out a little bit. What I can say is that you know, we are--we are still the same kind of perspective that, you know, cultural alignment is critical, ensuring that, you know, the pro formas, the deliverables, value adds, what strategic objectives we look to meet. So there are a bunch of things that we have to check off in these as we approach M and A. But again, M&A is not something that we are just going to do haphazardly. it is going to be very, very select.

Timothy Switzer: Awesome. Thank you very much.

Anthony J. Labozzetta: Thanks, Tim.

Adriano Duarte: Thanks, Tim.

Operator: Your next question comes from the line of Steve Moss with Raymond James. Your line is open. Please go ahead.

Stephen Moss: Hi. Good morning. Good morning, Steve.

Anthony J. Labozzetta: Tony, maybe just starting with you on loan--morning. On loan growth here, you know, you guys guided to the high end of the range. The pipeline is above last quarter. Just kind of curious why not increase maybe the guidance here a little bit? It seems like, you know, you could go over the high end of the range there. Well, it is true, we can. What we cannot predict is the level of prepayments that we might see You know, this quarter, we had 43 We are just--yeah. I think there is a possibility that we could come a little higher. But we are also being more selective on loans that come in with large past balances. So some of the verticals that we are we are paying attention to that are important to us is, like, the middle market segments and areas that produce, you know, strong deposits However, if prepayments come in a little lighter, there is a chance that we can break the high end of the range. Again, but it is a managed process for us. Right? So I think right now, internally, we are guiding ourselves to the high end of that range And if we break it, it will be because of situations like low prepayments or asset classes that are highly desirable that we wanna be in.

Adriano Duarte: It also takes into account a little bit lower level of production in the third quarter, Steve.

Anthony J. Labozzetta: Yeah. Summer is always a little slower.

Adriano Duarte: Yep.

Stephen Moss: Okay. So I hear you guys there. And then on purchase account accretion, just kind of curious, what is the what are your expectations for accretion in 2027?

Adriano Duarte: On the loan book, it should be coming in at about $36 million about, Steve. For this for this year, estimated around $48 million, but for 2027, we expect around $36 million. Now prepays are definitely gonna play a part in that. As rates go down, that should go up Not significantly, but it should go up.

Stephen Moss: Okay. You guys were more than let's call it, $22 million, probably $22 million per quarter right now, so it is going to step down to about half next year if I--if I hear you correct, AD?

Adriano Duarte: So the adjustment really is so when we do the calculation for getting back to the core NIM, we adjust the assets as well. I think that is why there is a discrepancy between the number that you guys calculate versus what we come up with. But the true dollar amount, for the quarter is about 45 I am sorry. 15. About $15 million. Yeah.

Stephen Moss: Okay. Got it. Okay. that is helpful. And then in terms of just thinking about the investment securities book, you kind of touched on it a little bit. I think, obviously,, yield went up there. But are you guys going to think about running it down here just given the more competitive environment on deposits?

Adriano Duarte: We still think there is an opportunity there. So we are cash flowing about $500 million annually. With the yield of 3.90% being replaced with a coupon or yield of 5.25%. I think there is still an opportunity there. So not a spread between that and the wholesale funding. So we will still be active in that market too.

Stephen Moss: Okay. Great. I appreciate all the color. I will step back here. Thanks. Thanks, Steve.

Operator: Your next question comes from the line of Matthew Breese with Stephens Inc. Your line is open. Please go ahead.

Matthew Breese: Hey, good morning.

Anthony J. Labozzetta: Morning, Matt.

Matthew Breese: I just wanted to go back to accretion, because that was a little bit--the numbers were a little bit all over the place. Yeah, you know, I think I have been modeling $20 million a quarter or thereabouts, you know, with a slight decline from here until year end 2027. I am just not sure what you were referencing in terms of the average balance sheet adjustments. Could you kind of reframe for us what accretable yield impact is supposed to be at least through year-end and early 2027?

Adriano Duarte: Top level, Matt, I would use 35 basis points as the adjuster. Right? So the difference between the 3.09% and the adjusted reported NIM, which would have been 3.44%. And that should be consistent throughout. Okay. Yeah. So the loan side, when we did that calculation, we used the outstanding purchase accounting marks and reduced the sorry, increase the loan balance by that. And that is why there is a little bit of a discrepancy between true P and L dollars and the actual difference.

Matthew Breese: Okay. Alright. Thank you. Wanted to focus on deposits for a second. Just thinking about the updated kind of outlook for deposit growth. And some of the drivers this quarter. There was, you know, a little bit more time deposit growth. Money market growth was 5%. I am curious if those are going to be similar kind of representations of growth through the end of the year And considering kind of intensifying deposit competition, what is the cost to bring new money market or new CDs in the door in your market? What are kind of promo rates from--from Provident these days?

Anthony J. Labozzetta: Well, I think if you are going down the promo rate scenario, you are looking at probably a 4 handle, right? 4% Kind of if you look at as I mentioned on the call, this is 1 of the areas that has I think, the heightened competition. I think we have good eyesight into what the second half will look like. We expect our municipal deposits to roll in at a good clip to represent about 5% back end growth annualized. You know, we have a bunch of new capacities that we put in place in terms of our TM capabilities that are producing some good growth. So and other verticals. The reason I mentioned that, Matt, is because we are not trying to fund our balance sheet with all these promo rates. I think some of the stuff we are very careful in terms of the process that we use so we do not create a lot of incremental cost pricing. On our balance sheet and destroy the funding base that we have now. So we see the capacity to grow, but we are not chasing the hot money. And I will I will stop there unless you have a follow-up.

Matthew Breese: Yeah. No. That was all very helpful. Do not get me wrong. Just thinking about some of AD's comments on deposit cost outlook as well. Maybe 1 or 2 basis points of increase I am just curious if up until now, you know, either average cost in June or spot cost in June, if that is already started to take place?

Adriano Duarte: Are you seeing it above the 191 or 192 we saw this quarter? it is up a couple of basis points. What we will see, though, in second half of the year is the benefit of the municipal inflows. That are typically at the trough and as of June 30. And those should come in at a lower rate than the competitive pricing that you are seeing on CDs. So those usually come in at around 3.5 to 3.5. So that should offset some of that incremental cost.

Anthony J. Labozzetta: So also, would add that some of the growth we are seeing now that is being offset by some of the consumer and CDs has largely come into the into our treasury management area. Our business banking, and small business banking, which tend to be the lower cost funds, which gives us a little firepower if we wanna do promos in the second half as needed. So we will balance that thing again against the wholesale side depending on the funding gaps that we may have in the second half of the broker market versus promos. But again, if we have the inflows that we expect on the munis plus the other sectors continue, that should bode well for profitability.

Matthew Breese: Okay. I wanted to turn to fee income. Just to step down in kind of the quarterly pace from Q2. And I was curious what areas you are expecting fee income reductions in, the ones that stand out to me would be, you know, insurance because of seasonal factors, BOLI looked a little elevated. I am curious what the right level is there. And then other income looked a little high. This quarter as well, and I am wondering if anything is, you know, unsustainably high there.

Adriano Duarte: Insurance, definitely, Matt, just because that is very seasonal based on the premiums underwritten each quarter. So year over year. that is how we compare it. At least double digit growth versus the prior year for the same period. BOLI, we are probably running between $800 thousand and $900 thousand on a monthly basis. Obviously, there is some benefits there that happened in the first quarter that were unplanned for. But we are seeing some pickup on the fee income side. That should bode well. that is where the main driver for the guidance change was.

Anthony J. Labozzetta: So Beacon is obviously AUM is growing there. We still see, you know, the SBA sale to secondary market business. We were amplifying. So those are other areas that will contribute to that, Matt. Yep.

Adriano Duarte: Yeah.

Anthony J. Labozzetta: Sorry. Go ahead.

Adriano Duarte: No. I stepped on your toes. I am sorry. You go ahead, AD. Okay, Matt. I was just going to say on the banking fee side, we did see some prepayment income come in from loan payoffs. Up about $300 thousand quarter-over-quarter. So Okay.

Matthew Breese: Just 1 follow-up there, and then I am done. You made some recent hires in the wealth management effort. Tony, I think you were hinting at that. You know, maybe update us on what you expect out of that fee income line, AUM growth or fee income growth. Over the next year? I guess I am wondering if there is you anticipate some acceleration there.

Anthony J. Labozzetta: Yeah, you know, what I certainly expect is a heightened--you know, we are making good deal of investments in the in the sales and service sides of that business. So my expectation and also on the advisory capacity. Right? So I am expecting enhanced retention. You know, Beyond the normal outflows the clients need to live on. I am expecting new AUM to the bank. We are already seeing a good pickup in new AUM to existing clients. that is been really good this quarter. So we are we are also seeing a pipeline of new clients build with these new positions that I mentioned. And we are looking to hire more. We are seeing an increased dynamic between our commercial bank our retail bank, and the wealth group where you are seeing a lot more referrals going into that because of the capabilities that we have on the advisory functions with our wealth clients. So I am pretty excited to see this. And as we are building out, so I do not want to be too premature on this, but that is my expectation that we see a greater integration and greater results So we have high hopes for Beacon moving forward.

Matthew Breese: I know I ask a lot of questions. Appreciate it. Thank you. Thanks.

Anthony J. Labozzetta: Thanks, Matt.

Operator: Your next question comes from the line of Manuel Navas with Piper Sandler. Your line is open. Please go ahead. A reminder that if you are muted locally to please unmute.

Manuel Navas: Oh, sorry, guys. Good morning. Morning. How about the deposit-- how much of the deposit pipeline do you kind of expect to come from non interest bearing? It was nice growth this quarter. Just kind of speaking to how that should progress going forward. I think some of the treasury management initiatives, are helping there. But if you could add color on how you are generating that noninterest bearing growth.

Anthony J. Labozzetta: Yeah. I do not have a clear number on pipeline of just purely noninterest bearing. I think it is a big focus for us. But I would also say the non interest bearing sector is the harder 1 to grow in this market. What we are what we are--what I can give you is a general statement on overall lower cost business checking and non interest that comes in from the TM efforts The deepening of relationships, we changed some of the structure internally that you are seeing with our commercial relationship managers. So I do not have a direct number of pipeline, but what we are seeing is a I will give you a small pipeline that we are tracking is if you look at our TM new business development folks in there. We just hired 3 of them that have nearly a $150 million pipeline as of June, and they are relatively new to the organization And we see, let's say, $25 million to $50 million in production So while I do not have a gross number for you, there are a lot of verticals that we are looking to attack in the low cost deposit space.

Manuel Navas: I appreciate that color. In thinking about the NIM, just kind of switching over, how responsive is it to a rate hike or a rate cut So on the rate hike, it is a meaning on the short end of the curve, probably compresses a little bit.

Adriano Duarte: So it will be a reduction of about 2 basis points, Manuel.

Manuel Navas: Okay. I appreciate it. Per 25 basis point rate hike? Meaning that you are holding the 5 year part of the curve steady and you just Thank you for the commentary.

Operator: This concludes today's Q&A session. Thank you. I will now hand the call back over to Tony Labozzetta for closing remarks.

Anthony J. Labozzetta: So thank you, everyone. I would like to mention again that we are very excited about Provident's future. We appreciate you joining us on today's call. We look forward to speaking with you again soon.

Operator: This concludes today's call. Thank you for attending. You may now disconnect.