Anthony Labozzetta, the current CEO of Provident Financial Services, took on this role in January 2022 after previously serving as the President and COO. His leadership came during a significant time for the company, following its acquisition of SB One...

Anthony Labozzetta, the current CEO of Provident Financial Services, took on this role in January 2022 after previously serving as the President and COO. His leadership came during a significant time for the company, following its acquisition of SB One Bancorp. Labozzetta has a strong background in finance, having led SB One Bank as CEO before joining Provident. In 2023, he earned a total compensation of approximately $2 million, which included a salary of $818,269 and a performance bonus of $309,375. He saw some ups and downs in bonuses over the years, with his previous year’s performance bonus reaching as high as $655,980 in 2022. Interestingly, he was not granted any stock options during his tenure thus far but has vested shares in common stock, showing a greater flow of cash rather than equity rewards. Labozzetta's compensation is tied to the company's performance metrics, focusing on growth indicators like earnings per share and net income. Under his direction, Provident Financial aims to expand its competitive edge in the banking sector, adapting to new challenges and opportunities.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Provident Financial Services CEOs

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Anthony Labozzetta

CEO of Provident Financial Services

Education

Not available

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

Born

January 1, 1963 - 62 years ago

CEO of Provident Financial Services for

3 years 3 months (Jan 2022 - Present)

Previous Experience

President and Chief Executive Officer of SB One Bancorp and SB One Bank

Rivals

Competitors/colleagues of Anthony Labozzetta

U

Richard M. Adams, Jr.

CEO of United Bankshares

2023 Compensation

Stock

$609.36K

Salary

$1.00M

Bonus

$1.09M

Other

$59.30K

Total Holdings

$6.01M

C

Chang M. Liu

CEO of Cathay General Bancorp

2023 Compensation

Stock

$5.13M

Salary

$920.00K

Bonus

$784.60K

Other

$16.50K

Total Holdings

$137.68K

S

Christopher J. McComish

CEO of S&T Bancorp

2023 Compensation

Stock

$150.00K

Salary

$350.00K

Bonus

$70.00K

Other

$20.00K

Total Holdings

$715.40K

R

Kevin D. Chapman

CEO of Renasant

2023 Compensation

Stock

$0.00

Salary

$401.63K

Bonus

$401.63K

Other

$0.00

Total Holdings

$5.13M

Holdings

See how much did Anthony Labozzetta make over time.

As of now, Anthony Labozzetta has significant holdings in Provident Financial Services. In 2023, he had no stock options but collected cash bonuses and saw a total compensation of over $2 million. His financial stake in the company showcases his...

As of now, Anthony Labozzetta has significant holdings in Provident Financial Services. In 2023, he had no stock options but collected cash bonuses and saw a total compensation of over $2 million. His financial stake in the company showcases his commitment to Provident’s success. Interestingly, his bonuses fluctuated with performance expectations, with a notable cash incentive of $309,375 in 2023 as the company adapts to market conditions. Labozzetta's holdings also reflect his strategic decisions within the financial landscape, where he has balanced cash compensation with stock vesting, signaling a dedication to both immediate growth and long-term stability. Over the years, he has adapted his earnings structure in sync with company performance, leading to a more performance-driven approach in a fluctuating stock market environment.

Insider Trading

See recent insider trades of Anthony Labozzetta.

PFS

$13.84K

PFS at $15.95/share

May 20, 2024

Purchase

PFS

52,811 shares

PFS

Mar 3, 2024

Received

PFS

$49.92K

PFS at $15.60/share

May 5, 2023

Purchase

PFS

$943.16

PFS at $15.72/share

May 3, 2023

Purchase

PFS

8,822 shares

PFS

Mar 3, 2023

Received

PFS

7,930 shares

PFS

Mar 3, 2021

Received

PFS

$12.38K

PFS at $14.15/share

Aug 14, 2020

Purchase

PFS

$9.71K

PFS at $14.94/share

Aug 12, 2020

Purchase

Compensation History

See how much did Anthony Labozzetta make over time.

In 2023, Anthony Labozzetta's total compensation reached about $2 million, highlighting his position as a well-paid CEO in the financial services sector. His salary was $818,269, and he received a cash performance bonus of $309,375, which was lower than previous years due to the company missing some performance targets. Interestingly, he did not gain any vested stock options this year, unlike previous years where bonuses and contributions made up a large portion of his income. His past performance bonus peaked at $655,980 in 2022, showcasing the ups and downs of leading a company in a competitive environment. Additionally, he received various perks, amounting to over $121,000, which further emphasizes the significant earning potential that comes with his role. Labozzetta's compensation plan ties directly to key metrics of the company’s success like net income and efficiency, aligning his rewards with the performance of Provident Financial Services, aiming for both growth and accountability.

Year

2023

Total Compensation

$1.31M

Salary

$818.27K

Board Justification

The compensation program is designed to align pay with performance, linking executive compensation to business strategies and stockholder returns, while maintaining competitive compensation relative to peer institutions.

Bonus

$309.38K

Board Justification

Annual cash incentive based on corporate performance goals, paid at 50% of target due to performance results being below threshold.

Other

$121.55K

Board Justification

Includes perquisites such as club membership, company car use, and contributions to health and retirement plans.

Restricted Stock

$61.82K(2.64K common stock)

Board Justification

2,644 shares of restricted stock vested in 2023, with a value of $61,817 at the time of vesting.

Performance Metrics

Key performance metrics include Earnings Per Share, Net Income, and Efficiency Ratio.

Other Provident Financial Services CEOs

Here are other CEOs of Provident Financial Services

Christopher Martin

Ex-CEO of Provident Financial Services

February 2005 - January 2022