Group 1 - The Annual Meeting of Shareholders for Provident Financial Holdings, Inc. is being conducted virtually, with a recording of the meeting in progress [1] - Donavon Ternes serves as the President and Chief Executive Officer, acting as the Chairman of the meeting [2] - Key attendees include senior officers, directors, and nominees, highlighting the leadership structure of the company [3] Group 2 - A list of shareholders entitled to vote at the meeting has been prepared, based on the record date of October 6, 2025 [4]

Core Viewpoint - Northland Power is hosting its 2025 Investor Day to provide updates on the business and its new strategy moving forward [1]. Group 1: Company Overview - Adam Beaumont, the Head of Capital Markets at Northland, is leading the presentation [1]. - The presentation is being recorded and will be available on the company's website for future reference [1]. Group 2: Financial Information - All figures presented during the event are in Canadian dollars unless stated otherwise [2].

Provident Financial (NasdaqGS:PROV) FY 2025 Annual General Meeting November 20, 2025 02:00 PM ET Company ParticipantsNone - OperatorPeter Fan - SecretaryNone - Company RepresentativeDonavon Ternes - President and CEOConference Call ParticipantsNone - AnalystNoneHello and welcome to the annual meeting of shareholders of Provident Financial Holdings. Please note that today's meeting is being recorded. During the meeting, we will have a question-and-answer session. Shareholders and proxy holders can submit que ...

Provident Financial (NasdaqGS:PROV) FY 2025 Annual General Meeting November 20, 2025 02:00 PM ET Company ParticipantsNone - OperatorPeter Fan - SecretaryNone - Company RepresentativeDonavon Ternes - President and CEOConference Call ParticipantsNone - AnalystNoneHello and welcome to the Annual Meeting of shareholders of Provident Financial Holdings. Please note that today's meeting is being recorded. During the meeting, we will have a question-and-answer session. Shareholders and proxy holders can submit que ...

Financial Data and Key Metrics Changes - The company reported a total of 6,503,511 shares of common stock outstanding, with 5,736,174 shares present at the meeting, representing 88.20% of the total votes eligible to be cast [12] - The election results showed that Debbie H. Guthrie received 3,215,117 votes (60.67%), Kathy M. MacDougall received 3,217,063 votes (60.70%), and Matthew E. Webb received 3,216,572 votes (60.69%) [13] - The advisory vote on executive compensation received 2,796,098 votes in favor (52.75%) [14] Business Line Data and Key Metrics Changes - No specific data on business lines was provided in the meeting records Market Data and Key Metrics Changes - No specific market data was discussed in the meeting records Company Strategy and Development Direction and Industry Competition - The company appointed Deloitte & Touche, LLP as independent auditors for the fiscal year ending June 30, 2026, indicating a focus on maintaining strong governance and compliance [11] Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during the meeting Other Important Information - The meeting confirmed that a quorum was present, allowing for the election of directors and other business to proceed [16] - The results of the votes will be verified and disclosed in a Form 8-K filing with the Securities and Exchange Commission [15] Q&A Session Summary - No questions were raised during the Q&A session, and the meeting proceeded without any inquiries [12]

Financial Performance - Net income for the quarter ended September 30, 2025, was $1,681 thousand, a decrease of 11.5% compared to $1,900 thousand for the same quarter in 2024[12]. - Basic earnings per share for the quarter ended September 30, 2025, was $0.26, compared to $0.28 for the same quarter in 2024, a decrease of 7.1%[12]. - The corporation reported a net income of $1,681,000 for the quarter ended September 30, 2025, compared to $1,900,000 for the same quarter in 2024, indicating a decrease of 11.6%[133]. - The corporation's diluted earnings per share for the quarter ended September 30, 2025, was $0.25, down from $0.28 in the same quarter of 2024, a decline of 10.7%[133]. - Total non-interest income decreased to $813 thousand for the quarter ended September 30, 2025, down from $899 thousand in the same quarter of 2024, a decline of 9.6%[12]. - Total non-interest expense increased to $7,634,000, up 1.48% from $7,523,000 year-over-year[12]. Assets and Liabilities - As of September 30, 2025, total assets decreased to $1,230,807 thousand from $1,245,613 thousand as of June 30, 2025, representing a decline of approximately 1.2%[10]. - Total liabilities decreased to $1,102,437 thousand as of September 30, 2025, from $1,117,068 thousand as of June 30, 2025, a reduction of approximately 1.3%[10]. - The company’s total stockholders' equity as of September 30, 2025, was $128,370 thousand, down from $128,545 thousand as of June 30, 2025, reflecting a decrease of 0.1%[10]. - Cash and cash equivalents at the end of the period were $49,407,000, a decrease from $48,193,000 year-over-year[20]. Interest Income and Expenses - Total interest income increased slightly to $14,146 thousand for the quarter ended September 30, 2025, compared to $14,075 thousand for the same quarter in 2024, reflecting a growth of 0.5%[12]. - Net interest income after recovery of credit losses rose to $9,556 thousand for the quarter ended September 30, 2025, up from $9,313 thousand in the same quarter of 2024, indicating a year-over-year increase of 2.6%[12]. - Cash paid for interest was $5,652,000, slightly up from $5,608,000 in the same quarter of 2024[20]. Credit Losses and Allowance - The allowance for credit losses (ACL) is calculated quarterly, reflecting management's estimates based on historical loss rates and current economic conditions[53]. - The total recoveries for the quarter were reported as $0, indicating no recoveries during this period[64]. - The ACL on loans as a percentage of gross loans held for investment is 0.56%, down from 0.61% in the previous year[64]. - The provision for credit losses is adjusted quarterly to maintain the ACL at appropriate levels based on historical loss experience and current conditions[62]. - The total current period gross charge-offs were reported as $1,365,000, indicating a significant increase compared to previous periods[51]. Loan Portfolio - Total loans held for investment amounted to $1,037,825,000, with single-family loans at $549,535,000, multi-family loans at $415,175,000, and commercial real estate loans at $71,010,000[38]. - Loans held for investment, net of fair value adjustments, totaled $1,041.8 million as of September 30, 2025, slightly down from $1,045.7 million on June 30, 2025[37]. - The total balance of non-owner occupied loans was $60,754,000, with 21% in Inland Empire and 48% in Southern California[43]. - The total commercial real estate portfolio amounted to $72,766,000, with 54% in Southern California and 27% in other regions[46]. Non-Performing Loans - As of September 30, 2025, the total recorded investment in non-performing loans was $1.892 million, down from $1.421 million on June 30, 2025, indicating a decrease in non-performing loans[71][73]. - The average recorded investment in non-performing loans for the quarter ended September 30, 2025, was $1.4 million, compared to $2.4 million for the same quarter in 2024, reflecting a significant reduction[75]. - Interest income recognized from non-performing loans for the quarter ended September 30, 2025, was $24,000, down from $39,000 in the same quarter of 2024[75][76]. Investment Securities - Total investment securities amounted to $105,401,000 as of September 30, 2025, with a fair value of $96,198,000, reflecting unrealized losses of $9,365,000[30]. - The total investment securities held to maturity amounted to $103,877,000, with a fair value of $94,654,000, reflecting unrealized losses of $9,365,000[30]. - The fair value of investment securities available for sale was $1,544,000 as of September 30, 2025, with $1,469,000 classified under Level 2[99]. Dividends and Shareholder Returns - Cash dividends of $0.14 per share were paid in the quarter ended September 30, 2025[15]. - The corporation's cash dividend declared on October 23, 2025, is $0.14 per share, payable on December 4, 2025[134].

Financial Data and Key Metrics Changes - In Q1 2026, the company originated $29.6 million in loans held for investment, a 1% increase from $29.4 million in the previous quarter [5] - Loan principal payments and payoffs decreased by 18% to $34.5 million from $42 million in the previous quarter [5] - Nonperforming assets increased to $1.9 million from $1.4 million in the previous quarter [6] - The allowance for credit losses to gross loans held for investment decreased to 56 basis points from 62 basis points [7] - Net interest margin increased by six basis points to 3% compared to 2.94% in the previous quarter [8] Business Line Data and Key Metrics Changes - Loans held for investment decreased by approximately $4 million, with declines in multifamily and commercial real estate loans, partially offset by an increase in single-family loans [6] - The weighted average rate of loans originated in September was 6.62%, compared to 5.2% for loans held for investment as of September 30, 2025 [9] Market Data and Key Metrics Changes - The company has approximately $107 million of loans repricing in December, expected to increase to a weighted average interest rate of 6.89% [10] - The average cost of deposits increased to 1.34%, while the cost of borrowing also increased to 4.59% [9] Company Strategy and Development Direction - The company is focusing on prudent adjustments to underwriting requirements to encourage higher loan origination volume [6] - The short-term strategy for balance sheet management is more growth-oriented than the previous fiscal year, with a disciplined loan growth approach [12] - The company aims to maintain cash dividends and has repurchased approximately 67,000 shares of common stock [13] Management's Comments on Operating Environment and Future Outlook - Management noted that real estate investors remain cautious due to market uncertainties, although there has been an increase in activity as mortgage interest rates decline [5] - The company expects modest or moderate net interest margin expansion in the upcoming quarters [20] - Management is optimistic about the potential for refinance activity due to declining mortgage interest rates [16] Other Important Information - Operating expenses remained unchanged at $7.6 million, representing a normalized run rate [12] - The company distributed $921,000 in cash dividends and repurchased approximately $1.1 million worth of common stock in the first quarter [14] Q&A Session Summary Question: Challenges in loan growth trajectory for 2026 - Management acknowledged hesitancy among borrowers in multifamily and commercial real estate due to higher mortgage rates, but noted that declining rates could present more opportunities [16] Question: Expectation for margin expansion - Management indicated that it is reasonable to expect margin expansion similar to the previous quarter, citing a growth in net interest margin from 2.74% to 3% over the past year [20] Question: Impact of lower interest rates on loan portfolio - Management explained that lower interest rates could lead to increased refinance activity, shortening the average life of the loan portfolio and potentially impacting credit loss provisions [22][24]

Financial Performance - Net income increased approximately 3%[19] - Pre-Provision, Pre-Tax Income decreased approximately 2%[19] - Net Interest Margin increased six basis points to 300%[19] - Net Interest Income decreased approximately 1%[19] - Non-Interest Income decreased approximately 8%[19] Balance Sheet & Loan Portfolio - Loans Held for Investment balance remained virtually unchanged while the yield increased four basis points at September 30, 2025[46] - Total Deposits balance decreased approximately 2% and the cost decreased two basis points at September 30, 2025[46] - Total Borrowings balance remained virtually unchanged while the cost decreased four basis points at September 30, 2025[46] - As of September 30, 2025, Single-Family loans accounted for 53%, Multi-Family loans 40%, and Commercial Real Estate loans 7% of the loan portfolio[49] Capital Management - Provident Bank purchased approximately 67000 shares of common stock in the first quarter of fiscal 2026[95]

Financial Performance - Net income for the first quarter of fiscal 2026 was $1.68 million, up 3% from the previous quarter but down 12% from the same quarter last year[2]. - Net interest income increased by $314,000, or 4%, to $8.93 million compared to the same quarter last year[6]. - Non-interest income decreased by 10% to $813,000, primarily due to a decline in other non-interest income[21]. - Net income for the quarter was $1,681,000, a decline from $1,900,000 year-over-year, which is a decrease of 11.6%[39]. - Basic earnings per share decreased to $0.26 from $0.28 in the same quarter last year, a decline of 7.1%[41]. - The efficiency ratio improved to 78.35% from 79.06% year-over-year, indicating better cost management[41]. Interest and Loans - Net interest margin increased to 3.00%, up six basis points from the previous quarter and up 16 basis points from the same quarter last year[1]. - Interest income on loans receivable increased by 1% to $13.13 million, with an average loan yield rising to 5.05%[7]. - Total loans originated for investment increased to $29,640,000, compared to $28,949,000 in the same quarter of 2024, a growth of 2.4%[41]. - The net interest margin improved to 3.00% from 2.84% year-over-year, reflecting enhanced interest income generation[41]. - Total loans originated for investment reached $29.640 million in the quarter ended September 30, 2025, up from $28.949 million in the same quarter last year, representing an increase of 2.39%[43]. Assets and Deposits - Total assets as of September 30, 2025, were $1,230,807,000, a decrease from $1,245,613,000 as of June 30, 2025[35]. - Total deposits decreased by 2% to $874.8 million compared to the previous quarter[1]. - Total deposits as of September 30, 2025, were $874,839,000, down from $888,772,000 as of June 30, 2025, reflecting a decrease of approximately 1.05%[35]. - Total investment securities held to maturity decreased to $103.877 million as of September 30, 2025, from $124.268 million a year earlier[45]. - The company reported total deposits of $884.9 million, slightly up from $880.6 million in the previous year, with an interest rate of 1.34%[52]. Non-Performing Assets - Non-performing assets to total assets ratio rose to 0.15%, up from 0.11% in the previous quarter[1]. - Non-performing loans to loans held for investment increased to 0.18% as of September 30, 2025, compared to 0.14% as of June 30, 2025[45]. - Non-performing loans totaled $1.9 million as of September 30, 2025, an increase from $2.1 million a year earlier[54]. Equity and Stock Repurchase - Total stockholders' equity as of September 30, 2025, was $128,370,000, a slight decrease from $128,545,000 as of June 30, 2025[35]. - The Company repurchased 66,707 shares of its common stock at an average cost of $15.75 per share during the quarter ended September 30, 2025[26]. - As of September 30, 2025, a total of 150,321 shares remained available for future purchase under the Company's current repurchase program[26]. Tax and Expenses - The provision for income taxes was $1.05 million, up 34% from the same quarter last year, with an effective tax rate of 38.5%[25]. - Non-interest expense increased by 1% to $7.63 million, driven by higher salaries and employee benefits[23]. - The allowance for credit losses was $5,780,000 as of September 30, 2025, indicating a slight decrease from $6,424,000 as of June 30, 2025[35]. Conference Call and Future Outlook - The Company will host a conference call for institutional investors and bank analysts on October 29, 2025, to discuss its financial results[27]. - An audio replay of the conference call will be available until November 5, 2025[28].

Core Viewpoint - Provident Financial reported quarterly earnings of $0.25 per share, missing the Zacks Consensus Estimate of $0.29 per share, representing a -13.79% earnings surprise [1] - The company has struggled to meet earnings expectations, surpassing consensus EPS estimates only once in the last four quarters [2] Financial Performance - Revenues for the quarter ended September 2025 were $9.74 million, missing the Zacks Consensus Estimate by 5.41%, compared to $9.52 million in the same quarter last year [2] - The current consensus EPS estimate for the upcoming quarter is $0.32 on revenues of $10.55 million, and for the current fiscal year, it is $1.19 on revenues of $41.9 million [7] Stock Performance - Provident Financial shares have declined approximately 1.3% year-to-date, while the S&P 500 has gained 16.9% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [6] Industry Outlook - The Financial - Savings and Loan industry is currently in the top 36% of Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5]