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Provident Bank's Community Partnership Program has donated over $892,000 to local non-profit organizations since 2006. In 2023 alone, over $49,000 was donated to various groups in Riverside and San Bernardino Counties, emphasizing the importance of giving back to the community. The Program allows non-profits linked to Provident Bank to receive annual donations by connecting their members' accounts, empowering customers to contribute to charitable campaigns. With approximately $1.3 billion in assets, Provident Bank remains committed to supporting local organizations and improving the quality of life in the communities it serves.
Provident Financial Holdings, Inc., reported a net income of $1.49 million in the March 2024 quarter, with loans held for investment of $1.07 billion and total deposits of $908.1 million. The nonperforming assets to total assets ratio was 0.17% at March 31, 2024. The company also announced a net interest margin of 2.74% in the March 2024 quarter, but a 5% decrease in total deposits compared to June 30, 2023.
Despite challenges in the operating environment due to elevated interest rates and yield curve inversion, Provident Financial Holdings, Inc. is committed to prudently managing operating expenses, maintaining sound credit and interest risk, and executing a common stock repurchase program aligned with its business plan. The Company recorded a 30% decrease in net income from the second quarter of fiscal 2024 to the third quarter of fiscal 2024
