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Provident Financial Holdings reports recurring developments as the holding company for Provident Savings Bank, F.S.B., a community banking institution serving consumers and small to midsized businesses in the Inland Empire region of Southern California. Company updates focus on deposit gathering, banking services, and loan activity across single-family, multifamily, commercial real estate, construction, commercial business, and consumer categories.
News commonly covers quarterly earnings, net interest margin, loan and deposit balances, credit quality, investment securities, cash dividends, stock repurchase authorizations, earnings calls, regional bank recognition, and board governance matters.
Provident Financial Holdings, Inc. (Nasdaq GS: PROV) announced it will release its first-quarter fiscal 2023 earnings on October 25, 2022, prior to the market opening. A conference call for institutional investors and bank analysts is scheduled for October 26, 2022, at 9:00 a.m. (Pacific) to discuss the financial results. Investors can access the call by dialing 1-844-291-5491, using access code 3547024. An audio replay will be available until November 2, 2022.
Provident Financial Holdings, Inc. (NASDAQ GS: PROV) announced a quarterly cash dividend of $0.14 per share, declared by its Board of Directors. Shareholders of record as of the close of business on August 18, 2022 will receive the dividend, payable on September 8, 2022. This financial commitment reflects the Company's ongoing dedication to returning value to its shareholders amidst a dynamic business environment.
Provident Financial Holdings, Inc. (NASDAQ: PROV) reported a net income of $2.46 million for the June 2022 quarter, down 26% year-over-year. Total net interest margin expanded by 32 basis points, reaching 2.93%. Loans held for investment increased by 11% to $940 million, while total deposits rose 2% to $955.5 million. Fiscal year net income increased by 20% to $9.09 million, with diluted EPS climbing to $1.22. However, return on average assets and equity declined. Non-interest expenses rose by 31% due to the absence of prior year tax credits, although they remained well-controlled.
Provident Financial Holdings, Inc. (Nasdaq: PROV) announced it will release its earnings for Q4 fiscal 2022 on July 26, 2022, before market open. The company plans to host a conference call on July 27, 2022, at 9:00 AM (PT) for institutional investors and bank analysts to discuss these results. Interested parties can access the call by dialing 1-844-291-6356 with access code 2262909. An audio replay will be available until August 3, 2022, by calling 1-866-207-1041 and using access code 5500963.
Provident Financial Holdings, Inc. (NASDAQ: PROV) has declared a quarterly cash dividend of $0.14 per share for its shareholders. The dividend is payable on June 9, 2022, to shareholders of record as of May 19, 2022. This decision reflects the Company's ongoing commitment to returning value to its investors while navigating the financial landscape.
Provident Financial Holdings, Inc. (NASDAQ: PROV) announced a stock repurchase program targeting up to 5% of its common stock, equating to approximately 364,259 shares. This initiative, effective April 28, 2022, will be executed over a one-year period, contingent on market conditions and capital availability. The repurchase aims to enhance shareholder value and optimize capital allocation.
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Provident Financial Holdings, Inc. (NASDAQ: PROV) reported a net income of $1.70 million for the third quarter of fiscal 2022, up 9% year-over-year, driven by a $445,000 recovery from loan losses. Total deposits increased 3% to $963.5 million, while loans held for investment rose 5% to $893.6 million. The return on average assets was 0.57%, and the return on equity reached 5.33%. Notably, non-interest expenses were well-controlled at $6.90 million. However, the net income decreased 25% sequentially due to declines in loan servicing fees and net interest income.
Provident Financial Holdings, Inc. (Nasdaq GS: PROV) announced it will release its earnings for Q3 2022 on April 26, 2022, before market open. The release will be followed by a conference call on April 27, 2022, at 9:00 a.m. (Pacific), aimed at institutional investors and bank analysts to discuss financial results. Interested participants can access the call by dialing 1-844-867-6169 with the code 6034711. An audio replay will be available until May 4, 2022, at 1-866-207-1041 using access code 9455626.
Provident Financial Holdings, Inc. (PROV) reported a net income of $2.26 million for the quarter ending December 31, 2021, marking a 93% increase year-over-year. The increase was attributed to improved provisions for loan losses and a 40% rise in non-interest income. Total deposits rose 2% to $956.3 million. However, net income decreased 15% from the previous quarter, primarily due to increased non-interest expenses. The company maintains a strong financial foundation, highlighted by a return on average assets of 0.76% and a return on average equity of 7.11%.