UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                       PURSUANT TO SECTION 13 OR 15(D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

         Date of Report (Date of earliest event reported): May 18, 2007
                                                           ------------

                       PROVIDENT FINANCIAL SERVICES, INC.
                       ----------------------------------
             (Exact Name of Registrant as Specified in its Charter)

         Delaware                      001-31566                 42-1547151
- -----------------------------    -----------------------     ------------------
(State or Other Jurisdiction)     (Commission File No.)       (I.R.S. Employer
      of Incorporation)                                      Identification No.)


830 Bergen Avenue, Jersey City, New Jersey                         07306-4599
- ------------------------------------------                         ----------
(Address of Principal Executive Offices)                           (Zip Code)

Registrant's telephone number, including area code:  (201) 333-1000
                                                     --------------

                                 Not Applicable
                                 --------------
          (Former Name or Former Address, if Changed Since Last Report)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[  ]  Written communications pursuant to Rule 425 under the Securities Act
      (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))



Item 8.01    Other Events.
             -------------

     Provident Financial Services, Inc. announced that effective on May 18, 2007
its wholly owned subsidiary,  The Provident Bank (Provident  Financial Services,
Inc.  and  The  Provident  Bank  are  hereinafter  together  referred  to as the
"Company")  reached an  agreement  to settle an  insurance  claim by the Company
seeking  recovery of a fraud loss that  occurred and was  recognized in 2002. In
the third  quarter of 2002,  the Company  reported a charge-off of $12.5 million
relating to a mortgage warehouse loan to Community Home Mortgage Corporation and
Community Home Funding Group,  Ltd (the  "Community  Entities") as a result of a
fraud  perpetrated  by the  Community  Entities  and other  entities and persons
affiliated with the Community  Entities.  The Company asserted a claim under its
fidelity bond to recover the fraud loss and associated  expenses.  The insurance
carrier  disclaimed  coverage of the Company's  loss in December  2003,  and the
Company  commenced  litigation in 2004 to seek coverage under the fidelity bond.
The Company and the insurance  carrier  reached a settlement  of the  litigation
that will  result in a payment to the  Company  in the  amount of $7.5  million.
After legal fees and related  litigation  expenses,  the Company estimates a net
recovery of approximately $5.8 million before taxes, which will be recognized in
the second  quarter of this year. At this time,  the Company does not expect any
additional  recoveries  with  respect to this  matter.  The  Company  exited the
mortgage warehouse lending business in November 2003.

Item 9.01.   Financial Statements and Exhibits
             ---------------------------------

             (a) Financial Statements of Businesses Acquired. Not applicable

             (b) Pro Forma Financial Information. Not applicable

             (c) Shell company transactions. Not applicable

             (d) Exhibits.  Not applicable








                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, hereunto duly authorized.

                                    PROVIDENT FINANCIAL SERVICES, INC.



DATE:  May 18, 2007                 By: /s/ Paul M. Pantozzi
                                        ---------------------------
                                        Paul M. Pantozzi
                                        Chairman and
                                        Chief Executive Officer