Provident Financial Holdings Reports Fourth Quarter and Fiscal Year 2025 Results
Provident Financial Holdings (NASDAQ:PROV) reported fourth quarter fiscal 2025 results with net income of $1.63 million ($0.24 per diluted share), down 17% from $1.95 million in the comparable quarter last year. The company's performance showed mixed results with a net interest margin of 2.94%, improving 20 basis points year-over-year but declining 8 basis points sequentially.
Key metrics include loans held for investment of $1.05 billion (down 1% YoY), total deposits of $888.8 million (unchanged YoY), and improved asset quality with non-performing assets ratio decreasing to 0.11% from 0.20% last year. The company maintained its stock buyback program and quarterly cash dividend despite challenging conditions.
Provident Financial Holdings (NASDAQ:PROV) ha riportato i risultati del quarto trimestre dell'esercizio 2025 con un utile netto di 1,63 milioni di dollari (0,24 dollari per azione diluita), in calo del 17% rispetto ai 1,95 milioni di dollari dello stesso periodo dell'anno precedente. La performance dell'azienda ha mostrato risultati contrastanti con un margine di interesse netto del 2,94%, migliorato di 20 punti base su base annua ma diminuito di 8 punti base rispetto al trimestre precedente.
I principali indicatori includono prestiti detenuti per investimento pari a 1,05 miliardi di dollari (in calo dell'1% su base annua), depositi totali di 888,8 milioni di dollari (stabili su base annua) e un miglioramento della qualità degli attivi con il rapporto di attività non performanti che è sceso allo 0,11% rispetto allo 0,20% dell'anno scorso. L'azienda ha mantenuto il programma di riacquisto azionario e il dividendo trimestrale in contanti nonostante le condizioni difficili.
Provident Financial Holdings (NASDAQ:PROV) reportó resultados del cuarto trimestre fiscal 2025 con un ingreso neto de 1,63 millones de dólares (0,24 dólares por acción diluida), una disminución del 17% respecto a los 1,95 millones de dólares del mismo trimestre del año anterior. El desempeño de la compañía mostró resultados mixtos con un margen de interés neto del 2,94%, mejorando 20 puntos básicos interanuales pero disminuyendo 8 puntos básicos secuencialmente.
Las métricas clave incluyen préstamos en cartera para inversión por 1,05 mil millones de dólares (una caída del 1% interanual), depósitos totales de 888,8 millones de dólares (sin cambios interanuales) y una mejora en la calidad de los activos con una proporción de activos no productivos que disminuyó a 0,11% desde 0,20% el año pasado. La compañía mantuvo su programa de recompra de acciones y dividendo trimestral en efectivo a pesar de las condiciones desafiantes.
Provident Financial Holdings (NASDAQ:PROV)는 2025 회계연도 4분기 실적을 발표하며 순이익 163만 달러(희석 주당 0.24달러)를 기록해 전년 동기 195만 달러 대비 17% 감소했습니다. 회사의 실적은 혼재된 결과를 보였으며, 순이자마진은 2.94%로 전년 대비 20bp 상승했으나 전분기 대비 8bp 하락했습니다.
주요 지표로는 투자 목적 대출 10억 5천만 달러(전년 대비 1% 감소), 총 예금 8억 8,880만 달러(전년과 동일), 그리고 부실 자산 비율이 0.20%에서 0.11%로 개선된 자산 품질 향상이 포함됩니다. 회사는 어려운 환경 속에서도 주식 자사주 매입 프로그램과 분기별 현금 배당을 유지했습니다.
Provident Financial Holdings (NASDAQ:PROV) a publié ses résultats du quatrième trimestre de l'exercice 2025 avec un bénéfice net de 1,63 million de dollars (0,24 dollar par action diluée), en baisse de 17 % par rapport à 1,95 million de dollars au même trimestre de l'année précédente. La performance de la société a présenté des résultats mitigés avec une marge nette d'intérêt de 2,94 %, en amélioration de 20 points de base sur un an mais en baisse de 8 points de base par rapport au trimestre précédent.
Les indicateurs clés comprennent des prêts détenus pour investissement de 1,05 milliard de dollars (en baisse de 1 % sur un an), des dépôts totaux de 888,8 millions de dollars (stables sur un an) et une amélioration de la qualité des actifs avec un taux d'actifs non performants en baisse à 0,11 % contre 0,20 % l'année dernière. La société a maintenu son programme de rachat d'actions et son dividende trimestriel en espèces malgré des conditions difficiles.
Provident Financial Holdings (NASDAQ:PROV) meldete die Ergebnisse für das vierte Quartal des Geschäftsjahres 2025 mit einem Nettoeinkommen von 1,63 Millionen US-Dollar (0,24 US-Dollar je verwässerter Aktie), was einem Rückgang von 17 % gegenüber 1,95 Millionen US-Dollar im entsprechenden Vorjahresquartal entspricht. Die Unternehmensleistung zeigte gemischte Ergebnisse mit einer Nettozinsmarge von 2,94 %, die sich im Jahresvergleich um 20 Basispunkte verbesserte, jedoch im Vergleich zum Vorquartal um 8 Basispunkte sank.
Wichtige Kennzahlen umfassen Investitionsdarlehen in Höhe von 1,05 Milliarden US-Dollar (ein Rückgang von 1 % im Jahresvergleich), Gesamteinlagen von 888,8 Millionen US-Dollar (im Jahresvergleich unverändert) und eine verbesserte Vermögensqualität mit einem Rückgang der notleidenden Vermögenswerte auf 0,11 % gegenüber 0,20 % im Vorjahr. Das Unternehmen setzte trotz herausfordernder Bedingungen sein Aktienrückkaufprogramm und die vierteljährliche Bardividende fort.
- Net interest margin improved 20 basis points year-over-year to 2.94%
- Non-performing assets ratio improved to 0.11% from 0.20% year-over-year
- Strong credit quality with no loan charge-offs during the quarter
- Maintained consistent quarterly cash dividend and active share buyback program
- Total available borrowing capacity of $474.8 million provides strong liquidity
- Net income decreased 17% year-over-year to $1.63 million
- Loans held for investment declined 1% year-over-year
- Return on average assets decreased to 0.53% from 0.62% year-over-year
- Non-interest expense increased 6% year-over-year
- Efficiency ratio deteriorated to 78.06% from 72.31% year-over-year
Insights
Provident Financial shows declining profitability with net income down 17% YoY, despite NIM improvement and strong credit quality.
Provident Financial Holdings reported
The bank's core operations showed some positive trends amid the profit decline. Net interest margin improved to
Loan portfolio dynamics reveal challenges with growth. Total loans held for investment stood at
Asset quality remains a significant strength. Non-performing assets declined
Efficiency continues to be a concern, with the efficiency ratio deteriorating to
The deposit profile shows shifting composition rather than growth challenges. Total deposits remained virtually unchanged at
Management's outlook indicates cautious optimism, citing potential improvement in fiscal 2026 based on stable economic conditions and the possibility of a return to an upwardly sloping yield curve, which would benefit the bank's interest rate margins.
Net Income of
Net Interest Margin of
Loans Held for Investment of
Total Deposits of
Non-Performing Assets to Total Assets Ratio of
RIVERSIDE, Calif., July 28, 2025 (GLOBE NEWSWIRE) -- Provident Financial Holdings, Inc. (“Company”), NASDAQ GS: PROV, the holding company for Provident Savings Bank, F.S.B. (“Bank”), today announced earnings for the fourth quarter and fiscal year ended June 30, 2025.
The Company reported net income of
"The operating environment for Provident has improved over the course of fiscal 2025, although an increase in loan prepayments during the June quarter interrupted two consecutive quarters of loan portfolio growth,” stated Donavon P. Ternes, President and Chief Executive Officer of the Company. “Nonetheless, we have seen meaningful progress this year: our net interest margin has improved, deposit balances have stabilized, borrowings have declined for three consecutive quarters, and credit quality remains strong. We continue to actively repurchase shares under our stock buyback program and have maintained a consistent quarterly cash dividend. As we look ahead to the start of fiscal 2026, we are optimistic about the outlook and anticipate improving fundamentals, supported by stable general economic conditions and the potential return of an upwardly sloping yield curve,” concluded Ternes.
Return on average assets was 0.53 percent for the fourth quarter of fiscal 2025, compared to 0.59 percent in the third quarter of fiscal 2025 and 0.62 percent for the fourth quarter of fiscal 2024. Return on average stockholders’ equity for the fourth quarter of fiscal 2025 was 5.01 percent, compared to 5.71 percent for the third quarter of fiscal 2025 and 5.96 percent for the fourth quarter of fiscal 2024.
On a sequential quarter basis, the
For the fiscal year ended June 30, 2025, net income decreased
In the fourth quarter of fiscal 2025, net interest income increased
Interest income on loans receivable increased
Interest income from investment securities decreased
In the fourth quarter of fiscal 2025, the Bank received
Interest income from interest-earning deposits, primarily cash deposited at the Federal Reserve Bank (“FRB”) of San Francisco, was
Interest expense on deposits for the fourth quarter of fiscal 2025 was
Transaction account balances, or “core deposits,” decreased
Interest expense on borrowings, primarily comprised of FHLB advances, decreased
At June 30, 2025, the Bank had approximately
During the fourth quarter of fiscal 2025, the Company recorded a recovery of credit losses totaling
Non-performing assets, comprised solely of non-accrual loans secured by properties located in California, decreased
Classified assets were
The allowance for credit losses on loans held for investment was
Non-interest income decreased by
Non-interest expense increased
The Company’s efficiency ratio, defined as non-interest expense divided by the sum of net interest income and non-interest income, in the fourth quarter of fiscal 2025 was 78.06 percent, an increase from 72.31 percent in the same quarter last year and 77.64 percent in the third quarter of fiscal 2025 (sequential quarter), reflecting higher operating costs relative to revenue generation.
The Company’s provision for income taxes was
The Company repurchased 76,104 shares of its common stock at an average cost of
The Bank currently operates 13 retail/business banking offices in Riverside County and San Bernardino County (Inland Empire).
The Company will host a conference call for institutional investors and bank analysts on Tuesday, July 29, 2025 at 9:00 a.m. (Pacific) to discuss its financial results. The conference call can be accessed by dialing 1-800-715-9871 and referencing Conference ID number 7361828. An audio replay of the conference call will be available through Tuesday, August 5, 2025 by dialing 1-800-770-2030 and referencing Conference ID number 7361828.
For more financial information about the Company please visit the website at www.myprovident.com and click on the “Investor Relations” section.
Safe-Harbor Statement
This press release contains statements that the Company believes are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to the Company’s financial condition, liquidity, results of operations, plans, objectives, future performance or business. You should not place undue reliance on these statements as they are subject to various risks and uncertainties. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements the Company may make. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to the Company.
There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors which could cause actual results to differ materially from the results anticipated or implied by our forward-looking statements include, but are not limited to: adverse economic conditions in our local market areas or other markets where we have lending relationships; effects of employment levels, labor shortages, persistent inflation, recessionary pressures or slowing economic growth; changes in interest rate levels and the duration of such changes, including actions by the Board of Governors of the Federal Reserve Board (the “Federal Reserve”), which could adversely affect our revenues and expenses, the value of assets and obligations, and the availability and cost of capital and liquidity; the impact of inflation and monetary and fiscal policy responses thereto, and their impact on consumer and business behavior; the effects of a Federal government shutdown, debt ceiling standoff, or other fiscal policy uncertainty; credit risks of lending activities, including loan delinquencies, write-offs, changes in our allowance for credit losses (“ACL”), and provision for credit losses; increased competitive pressures, including repricing and competitors’ pricing initiatives, and their impact on our market position, loan, and deposit products; quality and composition of our securities portfolio and the impact of adverse changes in the securities markets; fluctuations in deposits; secondary market conditions for loans and our ability to sell loans in the secondary market; liquidity issues, including our ability to borrow funds or raise additional capital, if necessary; expectations regarding key growth initiatives and strategic priorities; the impact of bank failures or adverse developments at other banks and related negative press about the banking industry in general on investor and depositor sentiment; results of examinations of us by regulatory authorities, which may the possibility that any such regulatory authority may, among other things, institute a formal or informal enforcement action against us or our bank subsidiary which could require us to increase our ACL, write-down assets, change our regulatory capital position or affect our ability to borrow funds or maintain or increase deposits or impose additional requirements or restrictions on us, any of which could adversely affect our liquidity and earnings; the ability to adapt to rapid technological changes, including advancements in artificial intelligence, digital banking, and cybersecurity; legislative or regulatory changes, including but not limited to shifts in capital requirements, banking regulation, tax laws, or consumer protection laws; use of estimates in determining the fair value of assets, which may prove incorrect; vulnerabilities in information systems or third-party service providers, including disruptions, breaches, or attacks; geopolitical developments and international conflicts, including but not limited to tensions or instability in Eastern Europe, the Middle East, and Asia, or the imposition of new or increased tariffs and trade restrictions, which may disrupt financial markets, global supply chains, energy prices, or economic activity in specific industry sectors; staffing fluctuations in response to product demand or corporate implementation strategies; our ability to pay dividends on our common stock; environmental, social and governance goals; effects of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, domestic political unrest and other external events; and other factors described in the Company’s latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other reports filed with and furnished to the Securities and Exchange Commission (“SEC”), which are available on our website at www.myprovident.com and on the SEC’s website at www.sec.gov.
We do not undertake and specifically disclaim any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements whether as a result of new information, future events or otherwise. These risks could cause our actual results for fiscal 2026 and beyond to differ materially from those expressed in any forward-looking statements by, or on behalf of us and could negatively affect our operating and stock price performance.
Contacts: | Donavon P. Ternes | Peter C. Fan | ||
| President and | Senior Vice President and | |||
| Chief Executive Officer | Chief Financial Officer |
| PROVIDENT FINANCIAL HOLDINGS, INC. Condensed Consolidated Statements of Financial Condition (Unaudited –In Thousands, Except Share and Per Share Information) | ||||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||||||||
| 2025 | 2025 | 2024 | 2024 | 2024 | ||||||||||||||||
| Assets | ||||||||||||||||||||
| Cash and cash equivalents | $ | 53,090 | $ | 50,915 | $ | 45,539 | $ | 48,193 | $ | 51,376 | ||||||||||
| Investment securities - held to maturity, at cost with no allowance for credit losses | 109,399 | 113,617 | 118,888 | 124,268 | 130,051 | |||||||||||||||
| Investment securities - available for sale, at fair value | 1,607 | 1,681 | 1,750 | 1,809 | 1,849 | |||||||||||||||
| Loans held for investment, net of allowance for credit losses of | 1,045,745 | 1,058,980 | 1,053,603 | 1,048,633 | 1,052,979 | |||||||||||||||
| Accrued interest receivable | 4,215 | 4,263 | 4,167 | 4,287 | 4,287 | |||||||||||||||
| FHLB - San Francisco stock and other equity investments, includes | 10,298 | 10,289 | 10,218 | 10,133 | 10,108 | |||||||||||||||
| Premises and equipment, net | 9,324 | 9,388 | 9,474 | 9,615 | 9,313 | |||||||||||||||
| Prepaid expenses and other assets | 11,935 | 11,047 | 11,327 | 10,442 | 12,237 | |||||||||||||||
| Total assets | $ | 1,245,613 | $ | 1,260,180 | $ | 1,254,966 | $ | 1,257,380 | $ | 1,272,200 | ||||||||||
| Liabilities and Stockholders’ Equity | ||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||
| Noninterest-bearing deposits | $ | 83,566 | $ | 89,103 | $ | 85,399 | $ | 86,458 | $ | 95,627 | ||||||||||
| Interest-bearing deposits | 805,206 | 812,216 | 782,116 | 777,406 | 792,721 | |||||||||||||||
| Total deposits | 888,772 | 901,319 | 867,515 | 863,864 | 888,348 | |||||||||||||||
| Borrowings | 213,073 | 215,580 | 245,500 | 249,500 | 238,500 | |||||||||||||||
| Accounts payable, accrued interest and other liabilities | 15,223 | 14,406 | 13,321 | 14,410 | 15,411 | |||||||||||||||
| Total liabilities | 1,117,068 | 1,131,305 | 1,126,336 | 1,127,774 | 1,142,259 | |||||||||||||||
| 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; 6,577,718, 6,653,822, 6,705,691, 6,769,247 and 6,847,821 shares outstanding, respectively) | 183 | 183 | 183 | 183 | 183 | |||||||||||||||
| Additional paid-in capital | 99,149 | 99,096 | 98,747 | 98,711 | 98,532 | |||||||||||||||
| Retained earnings | 212,403 | 211,701 | 210,779 | 210,853 | 209,914 | |||||||||||||||
| Treasury stock at cost (11,651,897, 11,575,793, 11,523,924, 11,460,368, and 11,381,794 shares, respectively) | (183,207 | ) | (182,121 | ) | (181,094 | ) | (180,155 | ) | (178,685 | ) | ||||||||||
| Accumulated other comprehensive income (loss), net of tax | 17 | 16 | 15 | 14 | (3 | ) | ||||||||||||||
| Total stockholders’ equity | 128,545 | 128,875 | 128,630 | 129,606 | 129,941 | |||||||||||||||
| Total liabilities and stockholders’ equity | $ | 1,245,613 | $ | 1,260,180 | $ | 1,254,966 | $ | 1,257,380 | $ | 1,272,200 | ||||||||||
| PROVIDENT FINANCIAL HOLDINGS, INC. Condensed Consolidated Statements of Operations (Unaudited - In Thousands, Except Per Share Information) | ||||||||||||||||
| For the Quarter Ended | Fiscal Year Ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Interest income: | ||||||||||||||||
| Loans receivable, net | $ | 13,102 | $ | 12,826 | $ | 52,543 | $ | 50,194 | ||||||||
| Investment securities | 446 | 502 | 1,858 | 2,060 | ||||||||||||
| FHLB - San Francisco stock and other equity investments | 209 | 209 | 845 | 802 | ||||||||||||
| Interest-earning deposits | 342 | 379 | 1,378 | 1,674 | ||||||||||||
| Total interest income | 14,099 | 13,916 | 56,624 | 54,730 | ||||||||||||
| Interest expense: | ||||||||||||||||
| Checking and money market deposits | 40 | 71 | 190 | 290 | ||||||||||||
| Savings deposits | 144 | 105 | 500 | 313 | ||||||||||||
| Time deposits | 2,798 | 2,657 | 10,536 | 9,063 | ||||||||||||
| Borrowings | 2,235 | 2,632 | 9,929 | 10,141 | ||||||||||||
| Total interest expense | 5,217 | 5,465 | 21,155 | 19,807 | ||||||||||||
| Net interest income | 8,882 | 8,451 | 35,469 | 34,923 | ||||||||||||
| Recovery of credit losses | (164 | ) | (12 | ) | (666 | ) | (63 | ) | ||||||||
| Net interest income, after recovery of credit losses | 9,046 | 8,463 | 36,135 | 34,986 | ||||||||||||
| Non-interest income: | ||||||||||||||||
| Loan servicing and other fees | 120 | 142 | 419 | 337 | ||||||||||||
| Deposit account fees | 256 | 278 | 1,112 | 1,154 | ||||||||||||
| Card and processing fees | 354 | 381 | 1,265 | 1,384 | ||||||||||||
| Other | 150 | 666 | 735 | 1,066 | ||||||||||||
| Total non-interest income | 880 | 1,467 | 3,531 | 3,941 | ||||||||||||
| Non-interest expense: | ||||||||||||||||
| Salaries and employee benefits | 4,771 | 4,419 | 19,006 | 17,642 | ||||||||||||
| Premises and occupancy | 886 | 945 | 3,634 | 3,586 | ||||||||||||
| Equipment | 403 | 347 | 1,542 | 1,309 | ||||||||||||
| Professional | 355 | 327 | 1,579 | 1,530 | ||||||||||||
| Sales and marketing | 173 | 193 | 714 | 709 | ||||||||||||
| Deposit insurance premiums and regulatory assessments | 172 | 184 | 740 | 780 | ||||||||||||
| Other | 860 | 757 | 3,578 | 2,984 | ||||||||||||
| Total non-interest expense | 7,620 | 7,172 | 30,793 | 28,540 | ||||||||||||
| Income before income taxes | 2,306 | 2,758 | 8,873 | 10,387 | ||||||||||||
| Provision for income taxes | 680 | 805 | 2,618 | 3,036 | ||||||||||||
| Net income | $ | 1,626 | $ | 1,953 | $ | 6,255 | $ | 7,351 | ||||||||
| Basic earnings per share | $ | 0.25 | $ | 0.28 | $ | 0.93 | $ | 1.06 | ||||||||
| Diluted earnings per share | $ | 0.24 | $ | 0.28 | $ | 0.93 | $ | 1.06 | ||||||||
| Cash dividends per share | $ | 0.14 | $ | 0.14 | $ | 0.56 | $ | 0.56 | ||||||||
| PROVIDENT FINANCIAL HOLDINGS, INC. Condensed Consolidated Statements of Operations – Sequential Quarters (Unaudited – In Thousands, Except Per Share Information) | |||||||||||||||||||
| For the Quarter Ended | |||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | |||||||||||||||
| 2025 | 2025 | 2024 | 2024 | 2024 | |||||||||||||||
| Interest income: | |||||||||||||||||||
| Loans receivable, net | $ | 13,102 | $ | 13,368 | $ | 13,050 | $ | 13,023 | $ | 12,826 | |||||||||
| Investment securities | 446 | 459 | 471 | 482 | 502 | ||||||||||||||
| FHLB - San Francisco stock and other equity investments | 209 | 213 | 213 | 210 | 209 | ||||||||||||||
| Interest-earning deposits | 342 | 389 | 287 | 360 | 379 | ||||||||||||||
| Total interest income | 14,099 | 14,429 | 14,021 | 14,075 | 13,916 | ||||||||||||||
| Interest expense: | |||||||||||||||||||
| Checking and money market deposits | 40 | 46 | 51 | 53 | 71 | ||||||||||||||
| Savings deposits | 144 | 127 | 117 | 112 | 105 | ||||||||||||||
| Time deposits | 2,798 | 2,573 | 2,506 | 2,659 | 2,657 | ||||||||||||||
| Borrowings | 2,235 | 2,471 | 2,588 | 2,635 | 2,632 | ||||||||||||||
| Total interest expense | 5,217 | 5,217 | 5,262 | 5,459 | 5,465 | ||||||||||||||
| Net interest income | 8,882 | 9,212 | 8,759 | 8,616 | 8,451 | ||||||||||||||
| (Recovery of) provision for credit losses | (164 | ) | (391 | ) | 586 | (697 | ) | (12 | ) | ||||||||||
| Net interest income, after (recovery of) provision for credit losses | 9,046 | 9,603 | 8,173 | 9,313 | 8,463 | ||||||||||||||
| Non-interest income: | |||||||||||||||||||
| Loan servicing and other fees | 120 | 135 | 60 | 104 | 142 | ||||||||||||||
| Deposit account fees | 256 | 276 | 282 | 298 | 278 | ||||||||||||||
| Card and processing fees | 354 | 291 | 300 | 320 | 381 | ||||||||||||||
| Other | 150 | 205 | 203 | 177 | 666 | ||||||||||||||
| Total non-interest income | 880 | 907 | 845 | 899 | 1,467 | ||||||||||||||
| Non-interest expense: | |||||||||||||||||||
| Salaries and employee benefits | 4,771 | 4,776 | 4,826 | 4,633 | 4,419 | ||||||||||||||
| Premises and occupancy | 886 | 880 | 917 | 951 | 945 | ||||||||||||||
| Equipment | 403 | 417 | 379 | 343 | 347 | ||||||||||||||
| Professional | 355 | 386 | 412 | 426 | 327 | ||||||||||||||
| Sales and marketing | 173 | 181 | 187 | 173 | 193 | ||||||||||||||
| Deposit insurance premiums and regulatory assessments | 172 | 195 | 190 | 183 | 184 | ||||||||||||||
| Other | 860 | 1,021 | 883 | 814 | 757 | ||||||||||||||
| Total non-interest expense | 7,620 | 7,856 | 7,794 | 7,523 | 7,172 | ||||||||||||||
| Income before income taxes | 2,306 | 2,654 | 1,224 | 2,689 | 2,758 | ||||||||||||||
| Provision for income taxes | 680 | 797 | 352 | 789 | 805 | ||||||||||||||
| Net income | $ | 1,626 | $ | 1,857 | $ | 872 | $ | 1,900 | $ | 1,953 | |||||||||
| Basic earnings per share | $ | 0.25 | $ | 0.28 | $ | 0.13 | $ | 0.28 | $ | 0.28 | |||||||||
| Diluted earnings per share | $ | 0.24 | $ | 0.28 | $ | 0.13 | $ | 0.28 | $ | 0.28 | |||||||||
| Cash dividends per share | $ | 0.14 | $ | 0.14 | $ | 0.14 | $ | 0.14 | $ | 0.14 | |||||||||
| PROVIDENT FINANCIAL HOLDINGS, INC. Financial Highlights (Unaudited - Dollars in Thousands, Except Share and Per Share Information) | |||||||||||||
| As of and For the | |||||||||||||
| Quarter Ended | Fiscal Year Ended | ||||||||||||
| June 30, | June 30, | ||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||
| SELECTED FINANCIAL RATIOS: | |||||||||||||
| Return on average assets | 0.53 | % | 0.62 | % | 0.50 | % | 0.57 | % | |||||
| Return on average stockholders' equity | 5.01 | % | 5.96 | % | 4.79 | % | 5.62 | % | |||||
| Stockholders’ equity to total assets | 10.32 | % | 10.21 | % | 10.32 | % | 10.21 | % | |||||
| Net interest spread | 2.76 | % | 2.54 | % | 2.74 | % | 2.62 | % | |||||
| Net interest margin | 2.94 | % | 2.74 | % | 2.93 | % | 2.78 | % | |||||
| Efficiency ratio | 78.06 | % | 72.31 | % | 78.96 | % | 73.44 | % | |||||
| Average interest-earning assets to average interest-bearing liabilities | 110.41 | % | 110.40 | % | 110.38 | % | 110.28 | % | |||||
| SELECTED FINANCIAL DATA: | |||||||||||||
| Basic earnings per share | $ | 0.25 | $ | 0.28 | $ | 0.93 | $ | 1.06 | |||||
| Diluted earnings per share | $ | 0.24 | $ | 0.28 | $ | 0.93 | $ | 1.06 | |||||
| Book value per share | $ | 19.54 | $ | 18.98 | $ | 19.54 | $ | 18.98 | |||||
| Shares used for basic EPS computation | 6,604,758 | 6,867,521 | 6,716,086 | 6,942,918 | |||||||||
| Shares used for diluted EPS computation | 6,653,214 | 6,893,813 | 6,760,962 | 6,959,143 | |||||||||
| Total shares issued and outstanding | 6,577,718 | 6,847,821 | 6,577,718 | 6,847,821 | |||||||||
| LOANS ORIGINATED FOR INVESTMENT: | |||||||||||||
| Mortgage loans: | |||||||||||||
| Single-family | $ | 18,303 | $ | 10,862 | $ | 92,498 | $ | 40,920 | |||||
| Multi-family | 9,343 | 4,526 | 25,115 | 22,112 | |||||||||
| Commercial real estate | 1,017 | 1,710 | 3,777 | 9,757 | |||||||||
| Construction | 725 | 1,480 | 725 | 1,480 | |||||||||
| Commercial business loans | — | — | 550 | 1,250 | |||||||||
| Total loans originated for investment | $ | 29,388 | $ | 18,578 | $ | 122,665 | $ | 75,519 | |||||
| PROVIDENT FINANCIAL HOLDINGS, INC. Financial Highlights (Unaudited - Dollars in Thousands, Except Share and Per Share Information) | ||||||||||||||||
| As of and For the | ||||||||||||||||
| Quarter | Quarter | Quarter | Quarter | Quarter | ||||||||||||
| Ended | Ended | Ended | Ended | Ended | ||||||||||||
| 06/30/25 | 03/31/25 | 12/31/24 | 09/30/24 | 06/30/24 | ||||||||||||
| SELECTED FINANCIAL RATIOS: | ||||||||||||||||
| Return on average assets | 0.53 | % | 0.59 | % | 0.28 | % | 0.61 | % | 0.62 | % | ||||||
| Return on average stockholders' equity | 5.01 | % | 5.71 | % | 2.66 | % | 5.78 | % | 5.96 | % | ||||||
| Stockholders’ equity to total assets | 10.32 | % | 10.23 | % | 10.25 | % | 10.31 | % | 10.21 | % | ||||||
| Net interest spread | 2.76 | % | 2.82 | % | 2.74 | % | 2.66 | % | 2.54 | % | ||||||
| Net interest margin | 2.94 | % | 3.02 | % | 2.91 | % | 2.84 | % | 2.74 | % | ||||||
| Efficiency ratio | 78.06 | % | 77.64 | % | 81.15 | % | 79.06 | % | 72.31 | % | ||||||
| Average interest-earning assets to average interest-bearing liabilities | 110.41 | % | 110.25 | % | 110.52 | % | 110.34 | % | 110.40 | % | ||||||
| SELECTED FINANCIAL DATA: | ||||||||||||||||
| Basic earnings per share | $ | 0.25 | $ | 0.28 | $ | 0.13 | $ | 0.28 | $ | 0.28 | ||||||
| Diluted earnings per share | $ | 0.24 | $ | 0.28 | $ | 0.13 | $ | 0.28 | $ | 0.28 | ||||||
| Book value per share | $ | 19.54 | $ | 19.37 | $ | 19.18 | $ | 19.15 | $ | 18.98 | ||||||
| Average shares used for basic EPS | 6,604,758 | 6,679,808 | 6,744,653 | 6,833,125 | 6,867,521 | |||||||||||
| Average shares used for diluted EPS | 6,653,214 | 6,732,794 | 6,792,759 | 6,863,083 | 6,893,813 | |||||||||||
| Total shares issued and outstanding | 6,577,718 | 6,653,822 | 6,705,691 | 6,769,247 | 6,847,821 | |||||||||||
| LOANS ORIGINATED FOR INVESTMENT: | ||||||||||||||||
| Mortgage loans: | ||||||||||||||||
| Single-family | $ | 18,303 | $ | 22,163 | $ | 29,583 | $ | 22,449 | $ | 10,862 | ||||||
| Multi-family | 9,343 | 4,087 | 6,495 | 5,190 | 4,526 | |||||||||||
| Commercial real estate | 1,017 | 1,135 | 365 | 1,260 | 1,710 | |||||||||||
| Construction | 725 | — | — | — | 1,480 | |||||||||||
| Commercial business loans | — | 500 | — | 50 | — | |||||||||||
| Total loans originated for investment | $ | 29,388 | $ | 27,885 | $ | 36,443 | $ | 28,949 | $ | 18,578 | ||||||
| PROVIDENT FINANCIAL HOLDINGS, INC. Financial Highlights (Unaudited - Dollars in Thousands) | ||||||||||||||||
| As of | As of | As of | As of | As of | ||||||||||||
| 06/30/25 | 03/31/25 | 12/31/24 | 09/30/24 | 06/30/24 | ||||||||||||
| ASSET QUALITY RATIOS AND DELINQUENT LOANS: | ||||||||||||||||
| Recourse reserve for loans sold | $ | 23 | $ | 23 | $ | 23 | $ | 23 | $ | 26 | ||||||
| Allowance for credit losses on loans held for investment | $ | 6,424 | $ | 6,577 | $ | 6,956 | $ | 6,329 | $ | 7,065 | ||||||
| Non-performing loans to loans held for investment, net | 0.14 | % | 0.13 | % | 0.24 | % | 0.20 | % | 0.25 | % | ||||||
| Non-performing assets to total assets | 0.11 | % | 0.11 | % | 0.20 | % | 0.17 | % | 0.20 | % | ||||||
| Allowance for credit losses on loans to gross loans held for investment | 0.62 | % | 0.62 | % | 0.66 | % | 0.61 | % | 0.67 | % | ||||||
| Net loan charge-offs (recoveries) to average loans receivable (annualized) | — | % | — | % | — | % | — | % | — | % | ||||||
| Non-performing loans | $ | 1,414 | $ | 1,395 | $ | 2,530 | $ | 2,106 | $ | 2,596 | ||||||
| Loans 30 to 89 days delinquent | $ | 2 | $ | 199 | $ | 3 | $ | 2 | $ | 1 | ||||||
| Quarter | Quarter | Quarter | Quarter | Quarter | |||||||||||||||
| Ended | Ended | Ended | Ended | Ended | |||||||||||||||
| 06/30/25 | 03/31/25 | 12/31/24 | 09/30/24 | 06/30/24 | |||||||||||||||
| (Recovery) recourse provision for loans sold | $ | — | $ | — | $ | — | $ | (3 | ) | $ | (5 | ) | |||||||
| (Recovery of) provision for credit losses | $ | (164 | ) | $ | (391 | ) | $ | 586 | $ | (697 | ) | $ | (12 | ) | |||||
| Net loan charge-offs (recoveries) | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||
| As of | As of | As of | As of | As of | |||||||
| 06/30/2025 | 03/31/2025 | 12/31/2024 | 09/30/2024 | 06/30/2024 | |||||||
| REGULATORY CAPITAL RATIOS (BANK): | |||||||||||
| Tier 1 leverage ratio | 10.11 | % | 9.85 | % | 9.81 | % | 9.63 | % | 10.02 | % | |
| Common equity tier 1 capital ratio | 19.50 | % | 19.01 | % | 18.60 | % | 18.36 | % | 19.29 | % | |
| Tier 1 risk-based capital ratio | 19.50 | % | 19.01 | % | 18.60 | % | 18.36 | % | 19.29 | % | |
| Total risk-based capital ratio | 20.51 | % | 20.03 | % | 19.67 | % | 19.35 | % | 20.38 | % |
| As of June 30, | |||||||||||
| 2025 | 2024 | ||||||||||
| Balance | Rate(1) | Balance | Rate(1) | ||||||||
| INVESTMENT SECURITIES: | |||||||||||
| Held to maturity (at cost): | |||||||||||
| U.S. SBA securities | $ | 325 | 4.85 | % | $ | 455 | 5.85 | % | |||
| U.S. government sponsored enterprise MBS | 104,549 | 1.60 | 125,883 | 1.55 | |||||||
| U.S. government sponsored enterprise CMO | 4,525 | 2.72 | 3,713 | 2.16 | |||||||
| Total investment securities held to maturity | $ | 109,399 | 1.66 | % | $ | 130,051 | 1.58 | % | |||
| Available for sale (at fair value): | |||||||||||
| U.S. government agency MBS | $ | 1,082 | 4.90 | % | $ | 1,208 | 3.89 | % | |||
| U.S. government sponsored enterprise MBS | 446 | 6.66 | 553 | 6.59 | |||||||
| Private issue CMO | 79 | 5.78 | 88 | 6.17 | |||||||
| Total investment securities available for sale | $ | 1,607 | 5.43 | % | $ | 1,849 | 4.81 | % | |||
| Total investment securities | $ | 111,006 | 1.71 | % | $ | 131,900 | 1.63 | % | |||
(1) Weighted-average yield earned on all instruments included in the balance of the respective line item.
| PROVIDENT FINANCIAL HOLDINGS, INC. Financial Highlights (Unaudited - Dollars in Thousands) | |||||||||||||
| As of June 30, | |||||||||||||
| 2025 | 2024 | ||||||||||||
| Balance | Rate(1) | Balance | Rate(1) | ||||||||||
| LOANS HELD FOR INVESTMENT: | |||||||||||||
| Mortgage loans: | |||||||||||||
| Single-family (1 to 4 units) | $ | 544,425 | 4.69 | % | $ | 518,091 | 4.49 | % | |||||
| Multi-family (5 or more units) | 423,417 | 5.52 | 445,182 | 5.31 | |||||||||
| Commercial real estate | 72,766 | 6.59 | 83,349 | 6.52 | |||||||||
| Construction | 402 | 9.17 | 2,692 | 9.11 | |||||||||
| Other | 89 | 5.25 | 95 | 5.25 | |||||||||
| Commercial business loans | 1,267 | 9.59 | 1,372 | 10.50 | |||||||||
| Consumer loans | 57 | 17.50 | 65 | 18.50 | |||||||||
| Total loans held for investment, gross | 1,042,423 | 5.16 | % | 1,050,846 | 5.02 | % | |||||||
| Advance payments of escrows | 293 | 102 | |||||||||||
| Deferred loan costs, net | 9,453 | 9,096 | |||||||||||
| Allowance for credit losses on loans | (6,424 | ) | (7,065 | ) | |||||||||
| Total loans held for investment, net | $ | 1,045,745 | $ | 1,052,979 | |||||||||
| Purchased loans serviced by others included above | $ | 1,673 | 5.72 | % | $ | 1,803 | 5.73 | % | |||||
(1) Weighted-average yield earned on all instruments included in the balance of the respective line item.
| As of June 30, | |||||||||||
| 2025 | 2024 | ||||||||||
| Balance | Rate(1) | Balance | Rate(1) | ||||||||
| DEPOSITS: | |||||||||||
| Checking accounts – noninterest-bearing | $ | 83,566 | — | % | $ | 95,627 | — | % | |||
| Checking accounts – interest-bearing | 240,597 | 0.04 | 254,624 | 0.04 | |||||||
| Savings accounts | 230,610 | 0.28 | 238,878 | 0.18 | |||||||
| Money market accounts | 21,703 | 0.32 | 25,324 | 0.50 | |||||||
| Time deposits | 312,296 | 3.56 | 273,895 | 3.93 | |||||||
| Total deposits(2)(3) | $ | 888,772 | 1.34 | % | $ | 888,348 | 1.29 | % | |||
| Brokered CDs included in time deposits above | $ | 130,970 | 4.24 | % | $ | 131,800 | 5.18 | % | |||
| BORROWINGS: | |||||||||||
| Overnight | $ | 20,000 | 4.64 | % | $ | 20,000 | 5.65 | % | |||
| Three months or less | 5,000 | 5.33 | 33,000 | 5.34 | |||||||
| Over three to six months | 54,000 | 5.03 | 30,000 | 5.22 | |||||||
| Over six months to one year | 84,000 | 4.39 | 62,500 | 4.05 | |||||||
| Over one year to two years | 35,000 | 4.35 | 68,000 | 5.11 | |||||||
| Over two years to three years | 5,073 | 4.22 | 10,000 | 5.03 | |||||||
| Over three years to four years | 10,000 | 4.51 | 5,000 | 4.22 | |||||||
| Over four years to five years | — | — | 10,000 | 4.51 | |||||||
| Over five years | — | — | — | — | |||||||
| Total borrowings(4) | $ | 213,073 | 4.59 | % | $ | 238,500 | 4.88 | % | |||
(1) Weighted-average rate paid on all instruments included in the balance of the respective line item.
(2) Includes uninsured deposits of approximately
(3) The average balance of deposit accounts was approximately
(4) The Bank had approximately
| PROVIDENT FINANCIAL HOLDINGS, INC. Financial Highlights (Unaudited - Dollars in Thousands) | ||||||||||||
| For the Quarter Ended | For the Quarter Ended | |||||||||||
| June 30, 2025 | June 30, 2024 | |||||||||||
| Balance | Rate(1) | Balance | Rate(1) | |||||||||
| SELECTED AVERAGE BALANCE SHEETS: | ||||||||||||
| Loans receivable, net | $ | 1,053,554 | 4.97 | % | $ | 1,060,173 | 4.84 | % | ||||
| Investment securities | 113,621 | 1.57 | 135,462 | 1.48 | ||||||||
| FHLB - San Francisco stock and other equity investments | 10,294 | 8.12 | 9,891 | 8.45 | ||||||||
| Interest-earning deposits | 30,742 | 4.40 | 27,826 | 5.39 | ||||||||
| Total interest-earning assets | $ | 1,208,211 | 4.67 | % | $ | 1,233,352 | 4.51 | % | ||||
| Total assets | $ | 1,238,691 | $ | 1,263,935 | ||||||||
| Deposits(2) | $ | 898,485 | 1.33 | % | $ | 898,357 | 1.27 | % | ||||
| Borrowings | 195,824 | 4.58 | 218,835 | 4.84 | ||||||||
| Total interest-bearing liabilities(2) | $ | 1,094,309 | 1.91 | % | $ | 1,117,192 | 1.97 | % | ||||
| Total stockholders’ equity | $ | 129,920 | $ | 131,141 | ||||||||
(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
| Fiscal Year Ended | Fiscal Year Ended | |||||||||||
| June 30, 2025 | June 30, 2024 | |||||||||||
| Balance | Rate(1) | Balance | Rate(1) | |||||||||
| SELECTED AVERAGE BALANCE SHEETS: | ||||||||||||
| Loans receivable, net | $ | 1,051,448 | 5.00 | % | $ | 1,069,616 | 4.69 | % | ||||
| Investment securities | 121,399 | 1.53 | 144,466 | 1.43 | ||||||||
| FHLB - San Francisco stock and other equity investments | 10,213 | 8.27 | 9,601 | 8.35 | ||||||||
| Interest-earning deposits | 28,990 | 4.69 | 30,610 | 5.38 | ||||||||
| Total interest-earning assets | $ | 1,212,050 | 4.67 | % | $ | 1,254,293 | 4.36 | % | ||||
| Total assets | $ | 1,242,402 | $ | 1,284,948 | ||||||||
| Deposits(2) | $ | 881,738 | 1.27 | % | $ | 916,050 | 1.06 | % | ||||
| Borrowings | 216,290 | 4.59 | 221,368 | 4.58 | ||||||||
| Total interest-bearing liabilities(2) | $ | 1,098,028 | 1.93 | % | $ | 1,137,418 | 1.74 | % | ||||
| Total stockholders’ equity | $ | 130,664 | $ | 130,799 | ||||||||
(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
| ASSET QUALITY: | |||||||||||||||
| As of | As of | As of | As of | As of | |||||||||||
| 06/30/25 | 03/31/25 | 12/31/24 | 09/30/24 | 06/30/24 | |||||||||||
| Loans on non-accrual status | |||||||||||||||
| Mortgage loans: | |||||||||||||||
| Single-family | $ | 948 | $ | 925 | $ | 2,530 | $ | 2,106 | $ | 2,596 | |||||
| Multi-family | 466 | 470 | — | — | — | ||||||||||
| Total | 1,414 | 1,395 | 2,530 | 2,106 | 2,596 | ||||||||||
| Accruing loans past due 90 days or more: | — | — | — | — | — | ||||||||||
| Total | — | — | — | — | — | ||||||||||
| Total non-performing loans (1) | 1,414 | 1,395 | 2,530 | 2,106 | 2,596 | ||||||||||
| Real estate owned, net | — | — | — | — | — | ||||||||||
| Total non-performing assets | $ | 1,414 | $ | 1,395 | $ | 2,530 | $ | 2,106 | $ | 2,596 | |||||
(1) The non-performing loan balances are net of individually evaluated or collectively evaluated allowances, specifically attached to the individual loans.
FAQ
What were PROV's earnings per share for Q4 fiscal 2025?
How did Provident Financial's net interest margin perform in Q4 2025?
What is PROV's current asset quality status?
How much was Provident Financial's total deposit base as of June 2025?
What factors contributed to PROV's decrease in Q4 2025 earnings?
