We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Provident Financial Holdings Inc | NASDAQ:PROV | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.05 | 0.32% | 15.90 | 15.56 | 17.28 | 15.78 | 15.73 | 15.78 | 601 | 23:31:14 |
|
|
|
(State or other jurisdiction
|
(Commission
|
(I.R.S. Employer
|
of incorporation)
|
File Number)
|
Identification No.)
|
|
|
(Address of principal executive offices)
|
(Zip Code)
|
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.
|
|
|
|
|
Title of each class
|
|
Trading Symbol(s)
|
|
Name of each exchange on which registered
|
|
|
|
(d) |
Exhibits
|
|
||
104
|
Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)
|
Date: July 29, 2024
|
|
PROVIDENT FINANCIAL HOLDINGS, INC.
|
/s/ Tam B. Nguyen
|
||
Tam B. Nguyen
|
||
Senior Vice President and Chief Financial Officer
|
||
(Principal Financial and Accounting Officer)
|
3756 Central Avenue
|
NEWS RELEASE
|
Riverside, CA 92506
|
|
(951) 686-6060
|
Contacts:
|
|
Donavon P. Ternes
|
|
Tam B. Nguyen
|
President and
|
Senior Vice President and
|
|||
Chief Executive Officer
|
Chief Financial Officer
|
|
June 30,
|
|
March 31,
|
|
December 31,
|
|
September 30,
|
|
June 30,
|
||||||
2024
|
2024
|
2023
|
2023
|
2023
|
|||||||||||
Assets
|
|
|
|
|
|
|
|
|
|
|
|||||
Cash and cash equivalents
|
$
|
51,376
|
$
|
51,731
|
$
|
46,878
|
$
|
57,978
|
$
|
65,849
|
|||||
Investment securities - held to maturity, at cost with no
allowance for credit losses
|
|
130,051
|
|
135,971
|
|
141,692
|
|
147,574
|
|
154,337
|
|||||
Investment securities - available for sale, at fair value with no
allowance for credit losses
|
|
2,389
|
|
1,935
|
|
1,996
|
|
2,090
|
|
2,155
|
|||||
Loans held for investment, net of allowance for credit losses of
$7,065, $7,108, $7,000, $7,679 and $5,946, respectively;
includes $1,047, $1,054, $1,092, $1,061 and $1,312 of loans
held at fair value, respectively
|
|
1,052,979
|
|
1,065,761
|
|
1,075,765
|
|
1,072,170
|
|
1,077,629
|
|||||
Accrued interest receivable
|
|
4,287
|
|
4,249
|
|
4,076
|
|
3,952
|
|
3,711
|
|||||
FHLB – San Francisco stock
|
|
9,568
|
|
9,505
|
|
9,505
|
|
9,505
|
|
9,505
|
|||||
Premises and equipment, net
|
|
9,313
|
|
9,637
|
|
9,598
|
|
9,426
|
|
9,231
|
|||||
Prepaid expenses and other assets
|
|
12,237
|
|
11,258
|
|
11,583
|
|
10,420
|
|
10,531
|
|||||
Total assets
|
$
|
1,272,200
|
$
|
1,290,047
|
$
|
1,301,093
|
$
|
1,313,115
|
$
|
1,332,948
|
|||||
Liabilities and Stockholders’ Equity
|
|
|
|
|
|
|
|
|
|
|
|||||
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
|||||
Noninterest-bearing deposits
|
$
|
95,627
|
$
|
91,708
|
$
|
94,030
|
$
|
105,944
|
$
|
103,007
|
|||||
Interest-bearing deposits
|
|
792,721
|
|
816,414
|
|
817,950
|
|
825,187
|
|
847,564
|
|||||
Total deposits
|
|
888,348
|
|
908,122
|
|
911,980
|
|
931,131
|
|
950,571
|
|||||
Borrowings
|
|
238,500
|
|
235,000
|
|
242,500
|
|
235,009
|
|
235,009
|
|||||
Accounts payable, accrued interest and other liabilities
|
|
15,411
|
|
17,419
|
|
16,952
|
|
17,770
|
|
17,681
|
|||||
Total liabilities
|
|
1,142,259
|
|
1,160,541
|
|
1,171,432
|
|
1,183,910
|
|
1,203,261
|
|||||
Stockholders’ equity:
|
|
|
|
|
|
|
|
|
|
|
|||||
Preferred stock, $.01 par value (2,000,000 shares authorized;
none issued and outstanding)
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|||||
Common stock, $.01 par value; (40,000,000 shares authorized;
18,229,615, 18,229,615, 18,229,615, 18,229,615 and
18,229,615 shares issued respectively; 6,847,821, 6,896,297,
6,946,348, 7,007,058 and 7,043,170 shares outstanding,
respectively)
|
|
183
|
|
183
|
|
183
|
|
183
|
|
183
|
|||||
Additional paid-in capital
|
|
98,532
|
|
99,591
|
|
99,565
|
|
99,554
|
|
99,505
|
|||||
Retained earnings
|
|
209,914
|
|
208,923
|
|
208,396
|
|
207,231
|
|
207,274
|
|||||
Treasury stock at cost (11,381,794, 11,333,318, 11,283,267,
11,222,557 and 11,186,445 shares, respectively)
|
|
(178,685)
|
|
(179,183)
|
|
(178,476)
|
|
(177,732)
|
|
(177,237)
|
|||||
Accumulated other comprehensive loss, net of tax
|
|
(3)
|
|
(8)
|
|
(7)
|
|
(31)
|
|
(38)
|
|||||
Total stockholders’ equity
|
|
129,941
|
|
129,506
|
|
129,661
|
|
129,205
|
|
129,687
|
|||||
Total liabilities and stockholders’ equity
|
$
|
1,272,200
|
$
|
1,290,047
|
$
|
1,301,093
|
$
|
1,313,115
|
$
|
1,332,948
|
Quarter Ended
|
Fiscal Year Ended
|
|||||||||||
|
June 30,
|
|
June 30,
|
|||||||||
|
2024
|
|
2023
|
|
2024
|
|
2023
|
|||||
Interest income:
|
|
|
|
|
|
|
||||||
Loans receivable, net
|
$
|
12,826
|
$
|
11,826
|
$
|
50,194
|
$
|
42,191
|
||||
Investment securities
|
|
504
|
|
537
|
|
2,069
|
|
2,169
|
||||
FHLB – San Francisco stock
|
|
207
|
|
142
|
|
793
|
|
556
|
||||
Interest-earning deposits
|
|
379
|
|
410
|
|
1,674
|
|
1,076
|
||||
Total interest income
|
|
13,916
|
|
12,915
|
|
54,730
|
|
45,992
|
||||
Interest expense:
|
|
|
|
|
|
|
|
|
||||
Checking and money market deposits
|
|
71
|
|
50
|
|
290
|
|
227
|
||||
Savings deposits
|
|
105
|
|
38
|
|
313
|
|
168
|
||||
Time deposits
|
|
2,657
|
|
1,387
|
|
9,063
|
|
2,751
|
||||
Borrowings
|
|
2,632
|
|
2,206
|
|
10,141
|
|
5,861
|
||||
Total interest expense
|
|
5,465
|
|
3,681
|
|
19,807
|
|
9,007
|
||||
Net interest income
|
|
8,451
|
|
9,234
|
|
34,923
|
|
36,985
|
||||
(Recovery of) provision for credit losses
|
|
(12)
|
|
(56)
|
|
(63)
|
|
374
|
||||
Net interest income, after (recovery of) provision for credit losses
|
|
8,463
|
|
9,290
|
|
34,986
|
|
36,611
|
||||
Non-interest income:
|
|
|
|
|
|
|
|
|
||||
Loan servicing and other fees
|
|
142
|
|
87
|
|
337
|
|
414
|
||||
Deposit account fees
|
|
278
|
|
298
|
|
1,154
|
|
1,296
|
||||
Card and processing fees
|
|
381
|
|
416
|
|
1,384
|
|
1,525
|
||||
Other
|
|
666
|
|
334
|
|
1,066
|
|
840
|
||||
Total non-interest income
|
|
1,467
|
|
1,135
|
|
3,941
|
|
4,075
|
||||
Non-interest expense:
|
|
|
|
|
|
|
|
|
||||
Salaries and employee benefits
|
|
4,419
|
|
4,855
|
|
17,642
|
|
17,737
|
||||
Premises and occupancy
|
|
945
|
|
947
|
|
3,586
|
|
3,447
|
||||
Equipment
|
|
347
|
|
304
|
|
1,309
|
|
1,152
|
||||
Professional
|
|
327
|
|
355
|
|
1,530
|
|
1,517
|
||||
Sales and marketing
|
|
193
|
|
118
|
|
709
|
|
622
|
||||
Deposit insurance premiums and regulatory assessments
|
|
184
|
|
192
|
|
780
|
|
657
|
||||
Other
|
|
757
|
|
836
|
|
2,984
|
|
3,138
|
||||
Total non-interest expense
|
|
7,172
|
|
7,607
|
|
28,540
|
|
28,270
|
||||
Income before income taxes
|
|
2,758
|
|
2,818
|
|
10,387
|
|
12,416
|
||||
Provision for income taxes
|
|
805
|
|
1,010
|
|
3,036
|
|
3,824
|
||||
Net income
|
$
|
1,953
|
$
|
1,808
|
$
|
7,351
|
$
|
8,592
|
||||
Basic earnings per share
|
$
|
0.28
|
$
|
0.26
|
$
|
1.06
|
$
|
1.20
|
||||
Diluted earnings per share
|
$
|
0.28
|
$
|
0.26
|
$
|
1.06
|
$
|
1.19
|
||||
Cash dividends per share
|
$
|
0.14
|
$
|
0.14
|
$
|
0.56
|
$
|
0.56
|
Quarter Ended
|
|||||||||||||||
June 30,
|
March 31,
|
December 31,
|
September 30,
|
June 30,
|
|||||||||||
|
2024
|
|
2024
|
|
2023
|
|
2023
|
|
2023
|
||||||
Interest income:
|
|
|
|
|
|
|
|
|
|
|
|||||
Loans receivable, net
|
$
|
12,826
|
$
|
12,683
|
$
|
12,509
|
$
|
12,176
|
$
|
11,826
|
|||||
Investment securities
|
|
504
|
|
517
|
|
524
|
|
524
|
|
537
|
|||||
FHLB – San Francisco stock
|
|
207
|
|
210
|
|
197
|
|
179
|
|
142
|
|||||
Interest-earning deposits
|
|
379
|
|
397
|
|
435
|
|
463
|
|
410
|
|||||
Total interest income
|
|
13,916
|
|
13,807
|
|
13,665
|
|
13,342
|
|
12,915
|
|||||
Interest expense:
|
|
|
|
|
|
|
|
|
|
|
|||||
Checking and money market deposits
|
|
71
|
|
90
|
|
72
|
|
57
|
|
50
|
|||||
Savings deposits
|
|
105
|
|
97
|
|
73
|
|
38
|
|
38
|
|||||
Time deposits
|
|
2,657
|
|
2,488
|
|
2,128
|
|
1,790
|
|
1,387
|
|||||
Borrowings
|
|
2,632
|
|
2,573
|
|
2,618
|
|
2,318
|
|
2,206
|
|||||
Total interest expense
|
|
5,465
|
|
5,248
|
|
4,891
|
|
4,203
|
|
3,681
|
|||||
Net interest income
|
|
8,451
|
|
8,559
|
|
8,774
|
|
9,139
|
|
9,234
|
|||||
(Recovery of) provision for credit losses
|
|
(12)
|
|
124
|
|
(720)
|
|
545
|
|
(56)
|
|||||
Net interest income, after (recovery of)
provision for credit losses
|
|
8,463
|
|
8,435
|
|
9,494
|
|
8,594
|
|
9,290
|
|||||
Non-interest income:
|
|
|
|
|
|
|
|
|
|
|
|||||
Loan servicing and other fees
|
|
142
|
|
92
|
|
124
|
|
(21)
|
|
87
|
|||||
Deposit account fees
|
|
278
|
|
289
|
|
299
|
|
288
|
|
298
|
|||||
Card and processing fees
|
|
381
|
|
317
|
|
333
|
|
353
|
|
416
|
|||||
Other
|
|
666
|
|
150
|
|
119
|
|
131
|
|
334
|
|||||
Total non-interest income
|
|
1,467
|
|
848
|
|
875
|
|
751
|
|
1,135
|
|||||
Non-interest expense:
|
|
|
|
|
|
|
|
|
|
|
|||||
Salaries and employee benefits
|
|
4,419
|
|
4,540
|
|
4,569
|
|
4,114
|
|
4,855
|
|||||
Premises and occupancy
|
|
945
|
|
835
|
|
903
|
|
903
|
|
947
|
|||||
Equipment
|
|
347
|
|
329
|
|
346
|
|
287
|
|
304
|
|||||
Professional
|
|
327
|
|
321
|
|
410
|
|
472
|
|
355
|
|||||
Sales and marketing
|
|
193
|
|
167
|
|
181
|
|
168
|
|
118
|
|||||
Deposit insurance premiums and
regulatory assessments
|
|
184
|
|
190
|
|
209
|
|
197
|
|
192
|
|||||
Other
|
|
757
|
|
786
|
|
726
|
|
715
|
|
836
|
|||||
Total non-interest expense
|
|
7,172
|
|
7,168
|
|
7,344
|
|
6,856
|
|
7,607
|
|||||
Income before income taxes
|
|
2,758
|
|
2,115
|
|
3,025
|
|
2,489
|
|
2,818
|
|||||
Provision for income taxes
|
|
805
|
|
620
|
|
884
|
|
727
|
|
1,010
|
|||||
Net income
|
$
|
1,953
|
$
|
1,495
|
$
|
2,141
|
$
|
1,762
|
$
|
1,808
|
|||||
Basic earnings per share
|
$
|
0.28
|
$
|
0.22
|
$
|
0.31
|
$
|
0.25
|
$
|
0.26
|
|||||
Diluted earnings per share
|
$
|
0.28
|
$
|
0.22
|
$
|
0.31
|
$
|
0.25
|
$
|
0.26
|
|||||
Cash dividends per share
|
$
|
0.14
|
$
|
0.14
|
$
|
0.14
|
$
|
0.14
|
$
|
0.14
|
As of and For the
|
|||||||||||||
Quarter Ended
|
Fiscal Year Ended
|
|
|||||||||||
June 30,
|
June 30,
|
|
|||||||||||
|
2024
|
|
2023
|
|
2024
|
|
2023
|
|
|||||
SELECTED FINANCIAL RATIOS:
|
|
|
|
|
|
|
|
|
|||||
Return on average assets
|
|
0.62
|
%
|
0.55
|
%
|
0.57
|
%
|
0.68
|
%
|
||||
Return on average stockholders' equity
|
|
5.96
|
%
|
5.52
|
%
|
5.62
|
%
|
6.58
|
%
|
||||
Stockholders’ equity to total assets
|
|
10.21
|
%
|
9.73
|
%
|
10.21
|
%
|
9.73
|
%
|
||||
Net interest spread
|
|
2.54
|
%
|
2.76
|
%
|
2.62
|
%
|
2.92
|
%
|
||||
Net interest margin
|
|
2.74
|
%
|
2.88
|
%
|
2.78
|
%
|
2.99
|
%
|
||||
Efficiency ratio
|
|
72.31
|
%
|
73.36
|
%
|
73.44
|
%
|
68.85
|
%
|
||||
Average interest-earning assets to average interest-
bearing liabilities
|
|
110.40
|
%
|
110.18
|
%
|
110.28
|
%
|
110.27
|
%
|
||||
SELECTED FINANCIAL DATA:
|
|
|
|
|
|
|
|
|
|||||
Basic earnings per share
|
$
|
0.28
|
$
|
0.26
|
$
|
1.06
|
$
|
1.20
|
|||||
Diluted earnings per share
|
$
|
0.28
|
$
|
0.26
|
$
|
1.06
|
$
|
1.19
|
|||||
Book value per share
|
$
|
18.98
|
$
|
18.41
|
$
|
18.98
|
$
|
18.41
|
|||||
Shares used for basic EPS computation
|
|
6,867,521
|
|
7,031,674
|
|
6,942,918
|
|
7,143,273
|
|||||
Shares used for diluted EPS computation
|
|
6,893,813
|
|
7,071,644
|
|
6,959,143
|
|
7,191,685
|
|||||
Total shares issued and outstanding
|
|
6,847,821
|
|
7,043,170
|
|
6,847,821
|
|
7,043,170
|
|||||
LOANS ORIGINATED FOR INVESTMENT:
|
|
|
|
|
|
|
|
|
|||||
Mortgage loans:
|
|
|
|
|
|
|
|
|
|||||
Single-family
|
$
|
10,862
|
$
|
12,271
|
$
|
40,920
|
$
|
165,942
|
|||||
Multi-family
|
|
4,526
|
|
6,804
|
|
22,112
|
|
50,323
|
|||||
Commercial real estate
|
|
1,710
|
|
5,207
|
|
9,757
|
|
18,979
|
|||||
Construction
|
|
1,480
|
|
—
|
|
1,480
|
|
1,648
|
|||||
Commercial business loans
|
|
—
|
|
—
|
|
1,250
|
|
190
|
|||||
Total loans originated for investment
|
$
|
18,578
|
$
|
24,282
|
$
|
75,519
|
$
|
237,082
|
|||||
As of and For the
|
||||||||||||||||
Quarter
|
Quarter
|
Quarter
|
Quarter
|
Quarter
|
|
|||||||||||
Ended
|
Ended
|
Ended
|
Ended
|
Ended
|
|
|||||||||||
|
06/30/24
|
|
03/31/24
|
|
12/31/23
|
|
09/30/23
|
|
06/30/23
|
|
||||||
SELECTED FINANCIAL
RATIOS:
|
|
|
|
|
|
|
|
|
|
|
||||||
Return on average assets
|
|
0.62
|
%
|
0.47
|
%
|
0.66
|
%
|
0.54
|
%
|
0.55
|
%
|
|||||
Return on average stockholders'
equity
|
|
5.96
|
%
|
4.57
|
%
|
6.56
|
%
|
5.40
|
%
|
5.52
|
%
|
|||||
Stockholders’ equity to total assets
|
|
10.21
|
%
|
10.04
|
%
|
9.97
|
%
|
9.84
|
%
|
9.73
|
%
|
|||||
Net interest spread
|
|
2.54
|
%
|
2.55
|
%
|
2.64
|
%
|
2.75
|
%
|
2.76
|
%
|
|||||
Net interest margin
|
|
2.74
|
%
|
2.74
|
%
|
2.78
|
%
|
2.88
|
%
|
2.88
|
%
|
|||||
Efficiency ratio
|
|
72.31
|
%
|
76.20
|
%
|
76.11
|
%
|
69.32
|
%
|
73.36
|
%
|
|||||
Average interest-earning assets to
average interest-bearing liabilities
|
|
110.40
|
%
|
110.28
|
%
|
110.27
|
%
|
110.17
|
%
|
110.18
|
%
|
|||||
SELECTED FINANCIAL
DATA:
|
|
|
|
|
|
|
|
|
|
|
||||||
Basic earnings per share
|
$
|
0.28
|
$
|
0.22
|
$
|
0.31
|
$
|
0.25
|
$
|
0.26
|
||||||
Diluted earnings per share
|
$
|
0.28
|
$
|
0.22
|
$
|
0.31
|
$
|
0.25
|
$
|
0.26
|
||||||
Book value per share
|
$
|
18.98
|
$
|
18.78
|
$
|
18.67
|
$
|
18.44
|
$
|
18.41
|
||||||
Average shares used for basic EPS
|
|
6,867,521
|
|
6,919,397
|
|
6,968,460
|
|
7,016,670
|
|
7,031,674
|
||||||
Average shares used for diluted
EPS
|
|
6,893,813
|
|
6,935,053
|
|
6,980,856
|
|
7,027,228
|
|
7,071,644
|
||||||
Total shares issued and outstanding
|
|
6,847,821
|
|
6,896,297
|
|
6,946,348
|
|
7,007,058
|
|
7,043,170
|
||||||
LOANS ORIGINATED FOR
INVESTMENT:
|
|
|
|
|
|
|
|
|
|
|
||||||
Mortgage loans:
|
|
|
|
|
|
|
|
|
|
|
||||||
Single-family
|
$
|
10,862
|
$
|
8,946
|
$
|
8,660
|
$
|
12,452
|
$
|
12,271
|
||||||
Multi-family
|
|
4,526
|
|
5,865
|
|
6,608
|
|
5,113
|
|
6,804
|
||||||
Commercial real estate
|
|
1,710
|
|
2,172
|
|
4,936
|
|
939
|
|
5,207
|
||||||
Construction
|
|
1,480
|
|
—
|
|
—
|
|
—
|
|
—
|
||||||
Commercial business loans
|
|
—
|
|
1,250
|
|
—
|
|
—
|
|
—
|
||||||
Total loans originated for
investment
|
$
|
18,578
|
$
|
18,233
|
$
|
20,204
|
$
|
18,504
|
$
|
24,282
|
|
As of
|
|
As of
|
|
As of
|
|
As of
|
|
As of
|
|
||||||
06/30/24
|
03/31/24
|
12/31/23
|
09/30/23
|
06/30/23
|
|
|||||||||||
ASSET QUALITY RATIOS AND DELINQUENT
LOANS:
|
|
|
|
|
|
|
|
|
|
|
||||||
Recourse reserve for loans sold
|
$
|
26
|
$
|
31
|
$
|
31
|
$
|
33
|
$
|
33
|
||||||
Allowance for credit losses on loans held for
investment
|
$
|
7,065
|
$
|
7,108
|
$
|
7,000
|
$
|
7,679
|
$
|
5,946
|
||||||
Non-performing loans to loans held for investment,
net
|
|
0.25
|
%
|
|
0.21
|
%
|
|
0.16
|
%
|
|
0.13
|
%
|
|
0.12
|
%
|
|
Non-performing assets to total assets
|
|
0.20
|
%
|
|
0.17
|
%
|
|
0.13
|
%
|
|
0.10
|
%
|
|
0.10
|
%
|
|
Allowance for credit losses on loans to gross loans
held for investment
|
|
0.67
|
%
|
|
0.67
|
%
|
|
0.65
|
%
|
|
0.72
|
%
|
|
0.55
|
%
|
|
Net loan charge-offs (recoveries) to average loans
receivable (annualized)
|
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
Non-performing loans
|
$
|
2,596
|
$
|
2,246
|
$
|
1,750
|
$
|
1,361
|
$
|
1,300
|
||||||
Loans 30 to 89 days delinquent
|
$
|
1
|
$
|
388
|
$
|
340
|
$
|
74
|
$
|
1
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
|
Quarter
|
||||||
Ended
|
Ended
|
Ended
|
Ended
|
Ended
|
|||||||||||
06/30/24
|
03/31/24
|
12/31/23
|
09/30/23
|
06/30/23
|
|||||||||||
(Recovery) recourse provision for loans sold
|
$
|
(5)
|
$
|
—
|
$
|
(2)
|
$
|
—
|
$
|
(127)
|
|||||
(Recovery of) provision for credit losses
|
$
|
(12)
|
$
|
124
|
$
|
(720)
|
$
|
545
|
$
|
(56)
|
|||||
Net loan charge-offs (recoveries)
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
(1)
|
|
As of
|
|
As of
|
|
As of
|
|
As of
|
|
As of
|
|
|
06/30/2024
|
03/31/2024
|
12/31/2023
|
09/30/2023
|
06/30/2023
|
|
||||||
REGULATORY CAPITAL RATIOS (BANK):
|
|
|
|
|
|
|
|
|
|
|
|
Tier 1 leverage ratio
|
|
10.02
|
%
|
9.70
|
%
|
9.48
|
%
|
9.25
|
%
|
9.59
|
%
|
Common equity tier 1 capital ratio
|
|
19.29
|
%
|
18.77
|
%
|
18.20
|
%
|
17.91
|
%
|
18.50
|
%
|
Tier 1 risk-based capital ratio
|
|
19.29
|
%
|
18.77
|
%
|
18.20
|
%
|
17.91
|
%
|
18.50
|
%
|
Total risk-based capital ratio
|
|
20.38
|
%
|
19.85
|
%
|
19.24
|
%
|
19.06
|
%
|
19.38
|
%
|
As of June 30,
|
|
||||||||||
|
2024
|
|
2023
|
|
|||||||
|
Balance
|
|
Rate(1)
|
|
Balance
|
|
Rate(1)
|
|
|||
INVESTMENT SECURITIES:
|
|
|
|
|
|
|
|
||||
Held to maturity (at cost):
|
|
|
|
|
|
|
|
||||
U.S. SBA securities
|
$
|
455
|
|
5.85
|
%
|
$
|
651
|
|
5.35
|
%
|
|
U.S. government sponsored enterprise MBS
|
125,883
|
1.55
|
149,803
|
1.46
|
|||||||
U.S. government sponsored enterprise CMO
|
|
3,713
|
|
2.16
|
|
3,883
|
|
2.19
|
|||
Total investment securities held to maturity
|
$
|
130,051
|
|
1.58
|
%
|
$
|
154,337
|
|
1.49
|
%
|
|
Available for sale (at fair value):
|
|
|
|
|
|
|
|
|
|||
U.S. government agency MBS
|
$
|
1,208
|
|
3.89
|
%
|
$
|
1,370
|
|
2.90
|
%
|
|
U.S. government sponsored enterprise MBS
|
|
553
|
|
6.59
|
|
683
|
|
4.64
|
|||
Private issue CMO
|
|
88
|
|
6.17
|
|
102
|
|
4.67
|
|||
Investment in equity security
|
540
|
—
|
—
|
—
|
|||||||
Total investment securities available for sale
|
$
|
2,389
|
|
3.72
|
%
|
$
|
2,155
|
|
3.54
|
%
|
|
Total investment securities
|
$
|
132,440
|
|
1.62
|
%
|
$
|
156,492
|
|
1.52
|
%
|
(1)
|
Weighted-average yield earned on all instruments included in the balance of the respective line item.
|
As of June 30,
|
|
||||||||||
|
2024
|
|
2023
|
|
|||||||
|
Balance
|
|
Rate(1)
|
|
Balance
|
|
Rate(1)
|
|
|||
LOANS HELD FOR INVESTMENT:
|
|
|
|
|
|
|
|
||||
Mortgage loans:
|
|
|
|
|
|
|
|||||
Single-family (1 to 4 units)
|
$
|
518,091
|
|
4.49
|
%
|
$
|
518,821
|
|
4.12
|
%
|
|
Multi-family (5 or more units)
|
|
445,182
|
|
5.31
|
|
461,113
|
|
4.70
|
|||
Commercial real estate
|
|
83,349
|
|
6.52
|
|
90,558
|
|
5.73
|
|||
Construction
|
|
2,692
|
|
9.11
|
|
1,936
|
|
7.76
|
|||
Other
|
|
95
|
|
5.25
|
|
106
|
|
5.25
|
|||
Commercial business loans
|
|
1,372
|
|
10.50
|
|
1,565
|
|
10.24
|
|||
Consumer loans
|
|
65
|
|
18.50
|
|
65
|
|
18.25
|
|||
Total loans held for investment
|
|
1,050,846
|
|
5.02
|
%
|
|
1,074,164
|
|
4.52
|
%
|
|
Advance payments of escrows
|
|
102
|
|
|
148
|
|
|
||||
Deferred loan costs, net
|
|
9,096
|
|
|
9,263
|
|
|
||||
Allowance for credit losses on loans
|
|
(7,065)
|
|
|
(5,946)
|
|
|
||||
Total loans held for investment, net
|
$
|
1,052,979
|
$
|
1,077,629
|
|
|
|||||
Purchased loans serviced by others included above
|
$
|
1,803
|
5.73
|
%
|
$
|
10,561
|
|
4.67
|
%
|
(1)
|
Weighted-average yield earned on all instruments included in the balance of the respective line item.
|
As of June 30,
|
|
||||||||||
|
2024
|
|
2023
|
|
|||||||
|
Balance
|
|
Rate(1)
|
|
Balance
|
|
Rate(1)
|
|
|||
DEPOSITS:
|
|
|
|
|
|
|
|
||||
Checking accounts – noninterest-bearing
|
$
|
95,627
|
|
—
|
%
|
$
|
103,006
|
|
—
|
%
|
|
Checking accounts – interest-bearing
|
|
254,624
|
|
0.04
|
|
302,872
|
|
0.04
|
|||
Savings accounts
|
|
238,878
|
|
0.18
|
|
290,204
|
|
0.05
|
|||
Money market accounts
|
|
25,324
|
|
0.50
|
|
33,551
|
|
0.23
|
|||
Time deposits
|
|
273,895
|
|
3.93
|
|
220,938
|
|
2.98
|
|||
Total deposits(2)(3)
|
$
|
888,348
|
|
1.29
|
%
|
$
|
950,571
|
|
0.73
|
%
|
|
Brokered CDs included in time deposits above
|
$
|
131,800
|
5.18
|
%
|
$
|
106,419
|
4.78
|
%
|
|||
BORROWINGS:
|
|
|
|
|
|
|
|
|
|||
Overnight
|
$
|
20,000
|
|
5.65
|
%
|
$
|
—
|
|
—
|
%
|
|
Three months or less
|
|
33,000
|
|
5.34
|
|
45,009
|
|
4.44
|
|||
Over three to six months
|
|
30,000
|
|
5.22
|
|
25,000
|
|
5.30
|
|||
Over six months to one year
|
|
62,500
|
|
4.05
|
|
80,000
|
|
4.29
|
|||
Over one year to two years
|
|
68,000
|
|
5.11
|
|
70,000
|
|
3.99
|
|||
Over two years to three years
|
|
10,000
|
|
5.03
|
|
10,000
|
|
4.42
|
|||
Over three years to four years
|
|
5,000
|
|
4.22
|
|
—
|
|
—
|
|||
Over four years to five years
|
|
10,000
|
|
4.51
|
|
5,000
|
|
4.22
|
|||
Over five years
|
|
—
|
|
—
|
|
—
|
|
—
|
|||
Total borrowings(4)
|
$
|
238,500
|
|
4.88
|
%
|
$
|
235,009
|
|
4.34
|
%
|
(1)
|
Weighted-average rate paid on all instruments included in the balance of the respective line item.
|
(2)
|
Includes uninsured deposits of approximately $122.7 million and $140.1 million at June 30, 2024 and 2023, respectively.
|
(3)
|
The average balance of deposit accounts was approximately $34 thousand at both June 30, 2024 and 2023.
|
(4)
|
The Bank had approximately $261.3 million and $287.9 million of remaining borrowing capacity at the FHLB – San Francisco,
approximately $208.6 million and $139.0 million of borrowing capacity at the Federal Reserve Bank of San Francisco and $50.0 million and $50.0 million of borrowing capacity with its correspondent bank at June 30, 2024 and 2023,
respectively.
|
Quarter Ended
|
Quarter Ended
|
|
||||||||||
June 30, 2024
|
June 30, 2023
|
|
||||||||||
|
Balance
|
|
Rate(1)
|
|
Balance
|
|
Rate(1)
|
|
||||
SELECTED AVERAGE BALANCE SHEETS:
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|||||
Loans receivable, net
|
$
|
1,060,173
|
|
4.84
|
%
|
$
|
1,080,440
|
|
4.38
|
%
|
||
Investment securities
|
|
135,797
|
|
1.48
|
|
160,572
|
|
1.34
|
||||
FHLB – San Francisco stock
|
|
9,556
|
|
8.66
|
|
9,240
|
|
6.15
|
||||
Interest-earning deposits
|
|
27,826
|
|
5.39
|
|
32,395
|
|
5.01
|
||||
Total interest-earning assets
|
$
|
1,233,352
|
|
4.51
|
%
|
$
|
1,282,647
|
|
4.03
|
%
|
||
Total assets
|
$
|
1,263,935
|
$
|
1,313,057
|
|
|
||||||
Deposits(2)
|
$
|
898,357
|
|
1.27
|
%
|
$
|
956,701
|
|
0.62
|
%
|
||
Borrowings
|
|
218,835
|
|
4.84
|
|
207,483
|
|
4.26
|
||||
Total interest-bearing liabilities(2)
|
$
|
1,117,192
|
|
1.97
|
%
|
$
|
1,164,184
|
|
1.27
|
%
|
||
Total stockholders’ equity
|
$
|
131,141
|
$
|
131,085
|
|
|
(1)
|
Weighted-average yield earned or rate paid on all instruments included in the balance of the respective
line item.
|
(2)
|
Includes the average balance of noninterest-bearing checking accounts of $92.5 million and $105.6 million
during the quarters ended June 30, 2024 and 2023, respectively.
|
Fiscal Year Ended
|
Fiscal Year Ended
|
|
||||||||||
|
June 30, 2024
|
|
June 30, 2023
|
|
||||||||
|
Balance
|
|
Rate(1)
|
|
Balance
|
|
Rate(1)
|
|
||||
SELECTED AVERAGE BALANCE SHEETS:
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
||||||
Loans receivable, net
|
$
|
1,069,616
|
|
4.69
|
%
|
$
|
1,029,000
|
|
4.10
|
%
|
||
Investment securities
|
|
144,549
|
|
1.43
|
|
172,005
|
|
1.26
|
||||
FHLB – San Francisco stock
|
|
9,518
|
|
8.33
|
|
8,488
|
|
6.55
|
||||
Interest-earning deposits
|
|
30,610
|
|
5.38
|
|
26,214
|
|
4.05
|
||||
Total interest-earning assets
|
$
|
1,254,293
|
|
4.36
|
%
|
$
|
1,235,707
|
|
3.72
|
%
|
||
Total assets
|
$
|
1,284,948
|
$
|
1,268,470
|
|
|
||||||
Deposits(2)
|
$
|
916,050
|
|
1.06
|
%
|
$
|
960,860
|
|
0.33
|
%
|
||
Borrowings
|
|
221,368
|
|
4.58
|
|
159,742
|
|
3.67
|
||||
Total interest-bearing liabilities(2)
|
$
|
1,137,418
|
|
1.74
|
%
|
$
|
1,120,602
|
|
0.80
|
%
|
||
Total stockholders’ equity
|
$
|
130,799
|
$
|
130,561
|
|
|
(1)
|
Weighted-average yield earned or rate paid on all instruments included in the balance of the respective
line item.
|
(2)
|
Includes the average balance of noninterest-bearing checking accounts of $97.3 million and $112.9 million
during the fiscal year ended June 30, 2024 and 2023, respectively.
|
|
As of
|
|
As of
|
|
As of
|
|
As of
|
|
As of
|
||||||
06/30/24
|
03/31/24
|
12/31/23
|
09/30/23
|
06/30/23
|
|||||||||||
Loans on non-accrual status
|
|
|
|
|
|
|
|
|
|
|
|||||
Mortgage loans:
|
|||||||||||||||
Single-family
|
$
|
2,596
|
$
|
2,246
|
$
|
1,750
|
$
|
1,361
|
$
|
1,300
|
|||||
Total
|
|
2,596
|
|
2,246
|
|
1,750
|
|
1,361
|
|
1,300
|
|||||
Accruing loans past due 90 days or more:
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|||||
Total
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|||||
Total non-performing loans (1)
|
|
2,596
|
|
2,246
|
|
1,750
|
|
1,361
|
|
1,300
|
|||||
Real estate owned, net
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|||||
Total non-performing assets
|
$
|
2,596
|
$
|
2,246
|
$
|
1,750
|
$
|
1,361
|
$
|
1,300
|
(1)
|
The non-performing loan balances are net of individually evaluated or collectively evaluated allowances,
specifically attached to the individual loans.
|
Document and Entity Information |
Jul. 29, 2024 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Jul. 29, 2024 |
Entity File Number | 000-28304 |
Entity Registrant Name | PROVIDENT FINANCIAL HOLDINGS, INC. |
Entity Central Index Key | 0001010470 |
Entity Incorporation, State or Country Code | DE |
Entity Tax Identification Number | 33-0704889 |
Entity Address, Address Line One | 3756 Central Avenue |
Entity Address, City or Town | Riverside |
Entity Address, State or Province | CA |
Entity Address, Postal Zip Code | 92506 |
City Area Code | 951 |
Local Phone Number | 686-6060 |
Title of 12(b) Security | Common Stock, par value $.01 per share |
Trading Symbol | PROV |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
1 Year Provident Financial Chart |
1 Month Provident Financial Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions