PART I - FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=ITEM%201%20-%20Financial%20Statements) The company presents its unaudited interim condensed consolidated financial statements and accompanying notes [Condensed Consolidated Statements of Financial Condition](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Financial%20Condition) Total assets slightly decreased to $1.26 billion, driven by lower investment securities and borrowings Condensed Consolidated Statements of Financial Condition (in thousands) | | March 31, 2025 | June 30, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$1,260,180** | **$1,272,200** | | Cash and cash equivalents | $50,915 | $51,376 | | Investment securities | $115,298 | $131,900 | | Loans held for investment, net | $1,058,980 | $1,052,979 | | **Total Liabilities** | **$1,131,305** | **$1,142,259** | | Total deposits | $901,319 | $888,348 | | Borrowings | $215,580 | $238,500 | | **Total Stockholders' Equity** | **$128,875** | **$129,941** | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Quarterly net income rose to $1.86 million, while nine-month net income fell to $4.63 million Key Operating Results (in thousands, except per share data) | Metric | Q3 2025 | Q3 2024 | Nine Months 2025 | Nine Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | $9,212 | $8,559 | $26,587 | $26,472 | | (Recovery of) Provision for Credit Losses | ($391) | $124 | ($502) | ($51) | | Non-interest Income | $907 | $848 | $2,651 | $2,474 | | Non-interest Expense | $7,856 | $7,168 | $23,173 | $21,368 | | **Net Income** | **$1,857** | **$1,495** | **$4,629** | **$5,398** | | **Diluted EPS** | **$0.28** | **$0.22** | **$0.68** | **$0.77** | [Condensed Consolidated Statements of Comprehensive Income](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) Total comprehensive income was $1.86 million for the quarter and $4.65 million for the nine-month period Comprehensive Income (in thousands) | | Quarter Ended March 31, | Nine Months Ended March 31, | | :--- | :--- | :--- | | | **2025** | **2024** | **2025** | **2024** | | Net Income | $1,857 | $1,495 | $4,629 | $5,398 | | Other comprehensive income (loss) | $1 | ($1) | $19 | $30 | | **Total Comprehensive Income** | **$1,858** | **$1,494** | **$4,648** | **$5,428** | [Condensed Consolidated Statements of Stockholders' Equity](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders%27%20Equity) Stockholders' equity decreased to $128.9 million due to dividends and stock buybacks outpacing net income - For the nine months ended March 31, 2025, stockholders' equity was impacted by **$4.6 million in net income**, offset by **$2.8 million in cash dividends** and **$3.3 million in treasury stock purchases**[18](index=18&type=chunk) - Cash dividends of **$0.42 per share** were paid in the nine months ended March 31, 2025, consistent with the same period in the prior year[19](index=19&type=chunk)[20](index=20&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=12&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used for financing outpaced cash from operations and investing, reducing cash by $461,000 Net Cash Flow Summary for Nine Months Ended March 31 (in thousands) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $6,205 | $6,441 | | Net cash provided by investing activities | $9,632 | $26,788 | | Net cash used for financing activities | ($16,298) | ($47,347) | | **Net decrease in cash and cash equivalents** | **($461)** | **($14,118)** | | Cash and cash equivalents at end of period | $50,915 | $51,731 | [Notes to Unaudited Interim Condensed Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20Unaudited%20Interim%20Condensed%20Consolidated%20Financial%20Statements) The notes detail accounting policies, credit loss allowances, and fair value measurements for key accounts - The company is currently evaluating the impact of several new Accounting Standard Updates (ASUs), including ASU 2024-03, ASU 2023-09, and ASU 2023-07[26](index=26&type=chunk)[27](index=27&type=chunk)[28](index=28&type=chunk) - At March 31, 2025, investment securities had **unrealized holding losses of $11.7 million**, primarily due to changes in interest rates, not credit quality[37](index=37&type=chunk)[39](index=39&type=chunk) - The Allowance for Credit Losses (ACL) on loans was **$6.6 million, or 0.62% of gross loans**, at March 31, 2025, down from $7.1 million at June 30, 2024[75](index=75&type=chunk)[82](index=82&type=chunk) - **Non-performing loans decreased to $1.4 million** (0.13% of LHFI) at March 31, 2025, from $2.6 million (0.25% of LHFI) at June 30, 2024[262](index=262&type=chunk)[264](index=264&type=chunk) - On January 23, 2025, the Board authorized a **new stock repurchase plan for up to 334,773 shares**, with 293,132 shares remaining available for purchase[154](index=154&type=chunk)[155](index=155&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=59&type=section&id=ITEM%202%20-%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management analyzes financial results, highlighting improved quarterly income but lower nine-month earnings [Executive Summary and Operating Strategy](index=65&type=section&id=Executive%20Summary%20and%20Operating%20Strategy) The company focuses on community banking in Southern California with a strategy of moderate asset growth - The Corporation's strategy focuses on **moderate asset growth**, with an emphasis on expanding its lending portfolios while improving the deposit base[173](index=173&type=chunk) - The company identifies elevated risk in commercial real estate, with **office space loans totaling $39.9 million**, or 3.8% of the total loan portfolio[176](index=176&type=chunk) [Comparison of Financial Condition at March 31, 2025 and June 30, 2024](index=67&type=section&id=Comparison%20of%20Financial%20Condition%20at%20March%2031,%202025%20and%20June%2030,%202024) Total assets decreased 1% to $1.26 billion due to a decline in investment securities and borrowings - **Total assets decreased 1% to $1.26 billion**, primarily from a 13% decrease in investment securities, offset by a modest increase in loans[181](index=181&type=chunk)[183](index=183&type=chunk) - **Total deposits increased by $13.0 million**, driven by $50.1 million in new government deposits, which masked a decline in other deposit categories[189](index=189&type=chunk) - **Total borrowings decreased by 10%** to $215.6 million due to scheduled maturities[192](index=192&type=chunk) - **Stockholders' equity declined by $1.0 million**, as dividends and stock repurchases outpaced net income for the nine-month period[193](index=193&type=chunk) [Comparison of Operating Results for the Quarters and Nine Months ended March 31, 2025 and 2024](index=71&type=section&id=Comparison%20of%20Operating%20Results%20for%20the%20Quarters%20and%20Nine%20Months%20ended%20March%2031,%202025%20and%202024) Quarterly net income rose 24% year-over-year, while nine-month net income fell 14% on higher expenses Key Performance Metrics | Metric | Q3 2025 | Q3 2024 | Nine Months 2025 | Nine Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Net Income (in millions) | $1.9 | $1.5 | $4.6 | $5.4 | | Diluted EPS | $0.28 | $0.22 | $0.68 | $0.77 | | Return on Average Assets | 0.59% | 0.47% | 0.50% | 0.56% | | Return on Average Equity | 5.71% | 4.57% | 4.72% | 5.51% | | Efficiency Ratio | 77.64% | 76.20% | 79.26% | 73.82% | [Asset Quality](index=88&type=section&id=Asset%20Quality) Asset quality improved as non-performing assets decreased to $1.4 million, or 0.11% of total assets Non-Performing Assets (in thousands) | | At March 31, 2025 | At June 30, 2024 | | :--- | :--- | :--- | | Total non-performing loans | $1,395 | $2,596 | | Real estate owned, net | $— | $— | | **Total non-performing assets** | **$1,395** | **$2,596** | | Non-performing assets as a % of total assets | 0.11% | 0.20% | - **Total classified assets increased to $6.8 million** at March 31, 2025, from $5.8 million at June 30, 2024[265](index=265&type=chunk) - The January 2025 wildfires in Los Angeles did not have a material impact, although the bank identified **$23.7 million in potentially affected zones**[263](index=263&type=chunk) [Loan Volume Activities](index=91&type=section&id=Loan%20Volume%20Activities) Loan originations for investment increased 64% to $93.3 million in the nine-month period Loan Volume Activity (in thousands) | Activity | Nine Months Ended March 31, 2025 | Nine Months Ended March 31, 2024 | | :--- | :--- | :--- | | Total loans originated for investment | $93,277 | $56,941 | | Loan principal payments | ($91,351) | ($69,276) | | **Net increase (decrease) in LHFI** | **$6,001** | **($11,868)** | [Liquidity and Capital Resources](index=91&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a strong liquidity position and exceeds all regulatory capital requirements - **Total remaining available borrowing capacity** across all sources was approximately **$470.8 million** at March 31, 2025[272](index=272&type=chunk)[273](index=273&type=chunk) - The Corporation **repurchased 209,066 shares** at a weighted average cost of $15.06 per share during the first nine months of fiscal 2025[193](index=193&type=chunk)[275](index=275&type=chunk) Bank Regulatory Capital Ratios (as of March 31, 2025) | Ratio | Actual | Minimum to Be Well Capitalized | | :--- | :--- | :--- | | Tier 1 leverage capital | 9.85% | 5.00% | | CET1 capital | 19.01% | 6.50% | | Tier 1 capital | 19.01% | 8.00% | | Total capital | 20.03% | 10.00% | [Quantitative and Qualitative Disclosures about Market Risk](index=97&type=section&id=ITEM%203%20-%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company manages interest rate risk, with analysis showing a liability-sensitive position short-term - The interest rate gap analysis as of March 31, 2025, shows a **cumulative negative gap of $198.7 million** for instruments repricing within 12 months[298](index=298&type=chunk)[300](index=300&type=chunk) Net Portfolio Value (NPV) Sensitivity as of March 31, 2025 | Rate Change (bp) | NPV Change (in thousands) | Sensitivity Measure (bp) | | :--- | :--- | :--- | | +300 | ($16,485) | -106 | | +200 | ($4,949) | -28 | | +100 | $1,033 | 10 | | **Base Case** | **$149,877** | **—** | | -100 | ($1,761) | -15 | | -200 | ($14,247) | -105 | | -300 | ($15,993) | -120 | Net Interest Income (NII) Sensitivity (Next 12 Months) | Rate Change (bp) | Change in NII (as of Mar 31, 2025) | Change in NII (as of Jun 30, 2024) | | :--- | :--- | :--- | | +200 | 2.30% | -3.45% | | +100 | 1.98% | -0.51% | | -100 | -2.78% | -0.67% | | -200 | -5.68% | -1.15% | [Controls and Procedures](index=104&type=section&id=ITEM%204%20-%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective with no material changes - The CEO and Interim CFO concluded that the Corporation's **disclosure controls and procedures were effective** as of March 31, 2025[309](index=309&type=chunk) - **No material changes** were made to the internal control over financial reporting during the quarter ended March 31, 2025[310](index=310&type=chunk) PART II - OTHER INFORMATION [Legal Proceedings](index=104&type=section&id=ITEM%201%20-%20Legal%20Proceedings) The company settled two PAGA lawsuits for $231,600, which was fully expensed in the third quarter - The company settled two PAGA lawsuits from former employees for an aggregate amount of **$231,600**[312](index=312&type=chunk)[315](index=315&type=chunk)[316](index=316&type=chunk) - The **full settlement expense was recognized in the third quarter** of fiscal 2025, and the settlement is pending court approval[316](index=316&type=chunk) [Risk Factors](index=106&type=section&id=ITEM%201A%20-%20Risk%20Factors) No material changes to risk factors were reported since the last annual report on Form 10-K - **No material changes** in risk factors were reported since the last Annual Report on Form 10-K[318](index=318&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=106&type=section&id=ITEM%202%20-%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased 51,869 shares in Q3 2025 under a new stock repurchase plan - A **new stock repurchase plan for 334,773 shares** was announced on January 23, 2025, replacing a previous plan[320](index=320&type=chunk) Equity Security Purchases in Q3 2025 | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | Jan 2025 | 14,980 | $15.66 | | Feb 2025 | 17,006 | $15.93 | | Mar 2025 | 19,883 | $14.49 | | **Total** | **51,869** | **$15.30** | [Defaults Upon Senior Securities](index=106&type=section&id=ITEM%203%20-%20Defaults%20Upon%20Senior%20Securities) This section is not applicable to the company - Not applicable[321](index=321&type=chunk) [Mine Safety Disclosures](index=106&type=section&id=ITEM%204%20-%20Mine%20Safety%20Disclosures) This section is not applicable to the company - Not applicable[322](index=322&type=chunk) [Other Information](index=108&type=section&id=ITEM%205%20-%20Other%20Information) No directors or officers adopted or terminated Rule 10b5-1 trading arrangements during the quarter - **No director or officer adopted or terminated a Rule 10b5-1 trading plan** during the quarter[325](index=325&type=chunk) [Exhibits](index=108&type=section&id=ITEM%206%20-%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including certifications and XBRL data - Exhibits filed include corporate governance documents, executive employment agreements, and Sarbanes-Oxley certifications[325](index=325&type=chunk)

Financial Data and Key Metrics Changes - The company originated $27.9 million in loans held for investment, a 23% decrease from $36.4 million in the prior sequential quarter [5] - Loan principal payments and payoffs were $23 million, down 33% from $34.3 million in the previous quarter [5] - Non-performing assets decreased to $1.4 million from $2.5 million, indicating improved asset quality [6] - The allowance for credit losses to gross loans held for investment decreased from 66 basis points to 62 basis points [9] - Net interest margin increased by 11 basis points to 3.02% compared to 2.91% in the previous quarter [9] Business Line Data and Key Metrics Changes - Loans held for investment increased by approximately $5.4 million compared to the previous quarter, driven by an increase in single-family loans [6] - There were declines in multifamily, commercial real estate, construction, and commercial business loans [6] - The company has seen more consumer demand for single-family adjustable-rate mortgage products due to higher fixed-rate mortgage interest rates [6] Market Data and Key Metrics Changes - Economic uncertainty has increased due to current fiscal policy, impacting real estate investor activity [6] - The company noted a shift in consumer demand towards adjustable-rate mortgage products as fixed rates rise [6] Company Strategy and Development Direction - The company aims for disciplined growth of the loan portfolio, recognizing the shift to looser monetary policy [13] - The strategy includes maintaining cash dividends and utilizing stock buyback programs as a capital management tool [14] - The company is focused on improving operating efficiencies to lower operating expenses [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for net interest margin expansion in the upcoming quarter, albeit at a slower pace than the current quarter [11] - The company is monitoring commercial real estate loans, particularly those secured by office buildings, and remains confident in their performance [7] - Management acknowledged the challenges posed by higher mortgage rates and economic uncertainty but indicated a commitment to growth [6][13] Other Important Information - The company repurchased approximately 52,000 shares of common stock in the March quarter [14] - For the fiscal year to date, the company has distributed approximately $2.8 million in cash dividends and repurchased approximately $3.1 million worth of common stock [14] Q&A Session Summary Question: Inquiry about CD growth in the quarter - Management indicated that the growth was due to a remix of the liability profile and the opening of a government deposit desk, allowing for liquidity to pay down Federal Home Loan Bank advances [17] Question: Were new CDs at a better rate than wholesale market? - Management noted that the rates were similar to wholesale, and the strategy was adjusted due to lower short-term rates [18] Question: Thoughts on prepayment activity over the next twelve months? - Management stated that prepayment activity is difficult to predict, with lower prepayments observed in the March quarter due to mortgage rate volatility [28] Question: Capital allocation and potential buyback adjustments? - Management emphasized the importance of maintaining capital during uncertainty but indicated that if stock prices decline, they would consider repurchasing more shares [32][34] Question: Changes in loan competition behavior? - Management noted no significant changes in competition but acknowledged aggressive pricing in the multifamily loan market [35][36]

Financial Data and Key Metrics Changes - The company originated $27.9 million in loans held for investment, a 23% decrease from $36.4 million in the prior sequential quarter [6] - Loan principal payments and payoffs were $23 million, down 33% from $34.3 million in the previous quarter [6] - Non-performing assets decreased to $1.4 million from $2.5 million in the prior quarter [8] - The allowance for credit losses to gross loans held for investment decreased from 66 basis points to 62 basis points [10] - Net interest margin increased by 11 basis points to 3.02% compared to 2.91% in the previous quarter [10] Business Line Data and Key Metrics Changes - Loans held for investment increased by approximately $5.4 million compared to the previous quarter, with an increase in single-family loans [7] - There were declines in multifamily, commercial real estate, construction, and commercial business loans [7] - The company has seen more consumer demand for single-family adjustable-rate mortgage products due to higher fixed-rate mortgage interest rates [7] Market Data and Key Metrics Changes - Economic uncertainty has increased due to current fiscal policy, impacting real estate investor activity [7] - The company noted that the current credit quality remains strong, with only $199,000 of early-stage delinquencies reported [9] Company Strategy and Development Direction - The company aims for disciplined growth of the loan portfolio, recognizing a shift to looser monetary policy [14] - The strategy includes maintaining cash dividends and utilizing stock buyback programs as a responsible capital management tool [16] - The company is focused on improving operating efficiencies to lower operating expenses [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for net interest margin expansion in the upcoming quarter, albeit at a slower pace than the current quarter [12] - The company is monitoring the impact of mortgage rate volatility on prepayment activity, which has historically affected their loan portfolio [31] - Management indicated that they are prepared to adjust their lending strategy based on market conditions and competitive pricing [43] Other Important Information - The company repurchased approximately 52,000 shares of common stock in the March quarter [16] - For the fiscal year to date, the company has distributed approximately $2.8 million in cash dividends and repurchased approximately $3.1 million worth of common stock [16] Q&A Session Summary Question: Inquiry about CD growth in the quarter - Management explained that they remixed the liability profile and opened their government deposit desk, accumulating government deposits which provided liquidity to pay down Federal Home Loan Bank advances [19] Question: Were the new CDs at a better rate than wholesale market? - Management noted that the rates were similar to wholesale, and the strategy change was due to a decrease in short-term rates [20] Question: Thoughts on prepayment activity over the next twelve months? - Management indicated that prepayment activity is difficult to predict, but lower mortgage rates tend to increase activity [31] Question: Capital allocation and potential buyback adjustments? - Management stated that while having more capital is preferable during uncertainty, they have already set their capital plans for the fiscal year [37] Question: Changes in loan competition behavior? - Management noted that they have not seen significant changes in competition, although some aggressive pricing in multifamily loans has been observed [39]

Financial Performance - Net income for the third quarter of fiscal 2025 was $1.86 million, up 113% from the previous quarter and up 24% from the same quarter last year[1][2][6]. - Net income for the quarter was $1,857 million, compared to $1,495 million for the same quarter last year, reflecting a year-over-year increase of 24.2%[42]. - Basic earnings per share rose to $0.28 for the quarter, up from $0.22 in the prior year, marking a 27.3% increase[42]. - Basic earnings per share increased to $0.28 for the quarter ended March 31, 2025, compared to $0.13 for the previous quarter[48]. Interest Income and Margin - Net interest margin increased to 3.02%, up 11 basis points from the previous quarter and 28 basis points from the same quarter last year[1][8]. - The average yield on interest-earning assets rose to 4.73%, an increase of 32 basis points from the same quarter last year[1][8]. - The net interest margin improved to 3.02% for the quarter, up from 2.74% in the same quarter of 2024, indicating enhanced profitability on interest-earning assets[46]. - The net interest margin improved to 3.02% for the quarter ended March 31, 2025, compared to 2.91% in the previous quarter[48]. Loans and Investments - Loans held for investment totaled $1.06 billion, a 1% increase from June 30, 2024[1][10]. - Total loans originated for investment were $27.9 million, a 53% increase from the same quarter last year[1][10]. - Loans originated for investment totaled $27,885 million for the quarter, significantly higher than $18,233 million in the same quarter of 2024, representing a 53.3% increase[46]. - Total loans held for investment amounted to $1.055 billion as of March 31, 2025, compared to $1.063 billion as of March 31, 2024, reflecting a slight decrease[52]. Deposits - Total deposits reached $901.3 million, up 2% from June 30, 2024[1][15]. - Total deposits increased to $901,319,000 as of March 31, 2025, from $867,515,000 as of December 31, 2024[40]. - Total deposits decreased to $901.319 million as of March 31, 2025, from $908.122 million as of March 31, 2024, indicating a decline of approximately 0.9%[53]. Non-Performing Assets - Non-performing assets decreased to $1.4 million, representing 0.11% of total assets, down from 0.20% at June 30, 2024[1][20]. - Non-performing loans to loans held for investment decreased to 0.13% as of March 31, 2025, down from 0.24% in the previous quarter[50]. - The total non-performing loans as of March 31, 2025, were $1.4 million, a decrease from $2.5 million as of March 31, 2024[61]. Expenses and Efficiency - Non-interest expense increased by $688,000, or 10 percent, to $7.86 million in Q3 fiscal 2025 from $7.17 million in the same quarter last year[26]. - The efficiency ratio for Q3 fiscal 2025 was 77.64 percent, up from 76.20 percent year-over-year but improved from 81.15 percent sequentially[27][28]. - The efficiency ratio improved to 77.64% for the quarter, compared to 79.26% in the same quarter of the previous year, indicating better cost management[46]. - The total non-interest expense increased to $7,856 million for the quarter, compared to $7,168 million in the same quarter last year, reflecting a rise of 9.6%[42]. Taxation - Provision for income taxes was $797,000 in Q3 fiscal 2025, a 29 percent increase from $620,000 in the same quarter last year and up 126 percent from $352,000 in Q2 fiscal 2025[29]. - The effective tax rate in Q3 fiscal 2025 was 30.0 percent, compared to 29.3 percent in the same quarter last year and 28.8 percent in Q2 fiscal 2025[29]. Shareholder Returns - The Company repurchased 51,869 shares at an average cost of $15.30 per share during the quarter ended March 31, 2025[30]. - Cash dividends per share remained stable at $0.14 for both the current and prior year quarter, indicating consistent shareholder returns[42]. Assets and Equity - Total assets as of March 31, 2025, were $1,260,180,000, compared to $1,254,966,000 as of December 31, 2024[40]. - Total stockholders' equity was $128,875,000 as of March 31, 2025, compared to $128,630,000 as of December 31, 2024[40]. - The book value per share increased to $19.37 as of March 31, 2025, from $19.18 as of December 31, 2024[48]. - The total stockholders' equity was $130.1 million as of March 31, 2025, slightly down from $130.9 million a year earlier[57].

Core Insights - Provident Financial reported revenue of $10.12 million for the quarter ended March 2025, reflecting a year-over-year increase of 7.5% and a surprise of +2.42% over the Zacks Consensus Estimate of $9.88 million [1] - The company's EPS for the quarter was $0.28, up from $0.22 in the same quarter last year, resulting in an EPS surprise of +16.67% compared to the consensus estimate of $0.24 [1] Financial Performance Metrics - Net Interest Margin stood at 3%, aligning with the average estimate based on two analysts [4] - The Efficiency Ratio was reported at 77.6%, which is higher than the average estimate of 75.9% from two analysts [4] - Total Non-Interest Income was $0.91 million, slightly below the average estimate of $0.94 million from two analysts [4] - Net Interest Income reached $9.21 million, exceeding the average estimate of $8.95 million from two analysts [4] Stock Performance - Shares of Provident Financial have returned +1.4% over the past month, contrasting with a -4.3% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Core Viewpoint - Provident Financial reported quarterly earnings of $0.28 per share, exceeding the Zacks Consensus Estimate of $0.24 per share, and showing an increase from $0.22 per share a year ago, indicating a 16.67% earnings surprise [1][2] Financial Performance - The company posted revenues of $10.12 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 2.42%, compared to $9.41 million in the same quarter last year [2] - Over the last four quarters, Provident Financial has exceeded consensus EPS estimates three times and topped revenue estimates twice [2] Stock Performance - Provident Financial shares have declined approximately 7.9% since the beginning of the year, while the S&P 500 has decreased by 6.1% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.29 on revenues of $10.23 million, and for the current fiscal year, it is $0.90 on revenues of $39.04 million [7] - The outlook for the Financial - Savings and Loan industry is positive, ranking in the top 28% of over 250 Zacks industries, suggesting potential for outperformance [8]

Financial Performance - The company reported a net income of $1.86 million for the quarter ended March 31, 2025, representing a 113% increase from the previous quarter and a 24% increase from the same quarter last year [1][5][2] - Diluted earnings per share for the quarter were $0.28, up 115% from $0.13 in the previous quarter [5] - The net interest margin improved to 3.02%, an increase of 11 basis points from the previous quarter and 28 basis points from the same quarter last year [1][7] Income and Expenses - Net interest income increased by $653,000, or 8%, to $9.21 million compared to the same quarter last year, primarily due to a higher net interest margin [7][2] - Non-interest income rose by $59,000, or 7%, to $907,000, driven by increases in loan servicing and other fees [23][24] - Non-interest expense increased by $688,000, or 10%, to $7.86 million, mainly due to higher salaries and employee benefits [25] Asset Quality - The non-performing assets to total assets ratio decreased to 0.11% from 0.20% at the end of June 2024, indicating improved asset quality [1][19] - The company recorded a recovery of credit losses totaling $391,000, contrasting with a provision for credit losses in the same quarter last year [18][6] Loans and Deposits - Loans held for investment amounted to $1.06 billion, a 1% increase from June 30, 2024 [1] - Total deposits reached $901.3 million, up 2% from June 30, 2024 [1][13] - The average balance of interest-earning assets decreased by 2% to $1.22 billion compared to the same quarter last year [8] Capital Management - The company remains active in its stock repurchase plan, having repurchased 51,869 shares at an average cost of $15.30 per share during the quarter [28] - The efficiency ratio for the quarter was 77.64%, slightly up from 76.20% in the same quarter last year but improved from 81.15% in the previous quarter [26] Tax and Regulatory - The provision for income taxes was $797,000, up 29% from the same quarter last year, reflecting an increase in pre-tax income [27] - The effective tax rate for the quarter was 30.0%, compared to 29.3% in the same quarter last year [27]

Core Viewpoint - Provident Financial Holdings, Inc. will announce its earnings for the third quarter of fiscal 2025 on April 28, 2025, before the market opens, and will hold a conference call for discussion on April 29, 2025 [1] Earnings Announcement - The earnings announcement for the third quarter of fiscal 2025 is scheduled for April 28, 2025, prior to market opening [1] - The conference call for institutional investors and bank analysts will take place on April 29, 2025, at 9:00 a.m. Pacific Time [1] Conference Call Details - Access to the conference call can be obtained by dialing 1-800-715-9871 and referencing Conference ID number 7361828 [1] - An audio replay of the conference call will be available until May 6, 2025, by dialing 1-800-770-2030 and using the same Conference ID number [1]

Core Points - Provident Financial Holdings, Inc. has donated over $931,000 to local non-profits since the inception of its Community Partnership Program in 2006, with more than $39,000 donated in 2024 alone [1][2][4] - The Community Partnership Program allows non-profit organizations to receive annual donations by linking their unique ID number to their members who are customers of Provident Bank, incentivizing organizations to increase member participation [3][4] Company Overview - Provident Bank is the largest independent community bank headquartered in Riverside County, California, with approximately $1.3 billion in total assets and has been serving customers since 1956 [4]

Core Points - Provident Financial Holdings, Inc. has donated over $931,000 to local non-profits since the inception of its Community Partnership Program in 2006, with more than $39,000 donated in 2024 alone [1][2][3] - The Community Partnership Program allows non-profit organizations to receive annual donations by linking their unique ID number to their members who are customers of Provident Bank, incentivizing organizations to increase member participation [3] - Provident Bank, with approximately $1.3 billion in total assets, is the largest independent community bank in Riverside County, California, serving customers since 1956 [4]