While Provident Financial has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? This quarterly report represents an earnings surprise of 21.74%. A quarter ago, it was expected that this holding company for Provident Savings Bank would post earnings of $0.24 per share when it actually produced earnings of $0.22, delivering a surprise of -8.33%. Provident Financial, which belongs to the Zacks Financial - Savings and Loan industry, posted rev ...

Net Income of $1.95 Million in the June 2024 Quarter RIVERSIDE, Calif., July 29, 2024 (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, 2024. Return on average assets was 0.62 percent for the fourth quarter of fiscal 2024, compared to 0.47 percent in the third quarter of fiscal 2024 and 0.55 percent for the fourth quarter of fiscal ...

RIVERSIDE, Calif., July 25, 2024 (GLOBE NEWSWIRE) -- Provident Financial Holdings, Inc. ("Company"), NASDAQ GS: PROV, the holding company for Provident Savings Bank, F.S.B., today announced that the Company's Board of Directors declared a quarterly cash dividend of $0.14 per share. Shareholders of the Company's common stock at the close of business on August 15, 2024 will be entitled to receive the cash dividend. The cash dividend will be payable on September 5, 2024. Certain matters in this News Release ma ...

Core Points - Provident Financial Holdings, Inc. announced a quarterly cash dividend of $0.14 per share [1] - Shareholders of common stock as of August 15, 2024, will be eligible for the dividend [1] - The dividend payment is scheduled for September 5, 2024 [1] Summary by Category Dividend Announcement - The Board of Directors declared a cash dividend of $0.14 per share [1] - The record date for shareholders is August 15, 2024 [1] - Payment date for the dividend is set for September 5, 2024 [1]

RIVERSIDE, Calif., July 22, 2024 (GLOBE NEWSWIRE) -- Provident Financial Holdings, Inc. ("Company") (Nasdaq GS: PROV), the holding company for Provident Savings Bank, F.S.B., today announced that it will distribute a news release announcing earnings for the fourth quarter and fiscal 2024 prior to the market open on Monday, July 29, 2024. Additionally, the Company will host a conference call for institutional investors and bank analysts on Tuesday, July 30, 2024 at 9:00 a.m. (Pacific) to discuss financial re ...

Contacts: Donavon P. Ternes Tam B. Nguyen President and Chief Executive Officer Senior Vice President and Chief Financial Officer (951) 686-6060 RIVERSIDE, Calif., July 22, 2024 (GLOBE NEWSWIRE) -- Provident Financial Holdings, Inc. ("Company") (Nasdaq GS: PROV), the holding company for Provident Savings Bank, F.S.B., today announced that it will distribute a news release announcing earnings for the fourth quarter and fiscal 2024 prior to the market open on Monday, July 29, 2024. Additionally, the Company w ...

Financial Performance - Net income for the quarter ended March 31, 2024, was $1,495 thousand, down 35.6% from $2,323 thousand in the same quarter of 2023[13]. - Basic earnings per share for the quarter ended March 31, 2024, was $0.22, down from $0.33 in the same quarter of 2023, a decrease of 33.3%[13]. - Net income for the nine months ended March 31, 2024, was $5,398 million, compared to $6,784 million for the same period in 2023, reflecting a decrease of approximately 20.5%[24]. - Total comprehensive income for the quarter ended March 31, 2024, was $1,494 million, down from $2,331 million in the same quarter of 2023[15]. - Total non-interest income for the nine months ended March 31, 2024, was $2,474 million, a decrease of 16% from $2,940 million in the same period of 2023[13]. Asset and Liability Management - Total assets decreased from $1,332,948 thousand as of June 30, 2023, to $1,290,047 thousand as of March 31, 2024, representing a decline of approximately 3.2%[10]. - Total deposits decreased from $950,571 thousand as of June 30, 2023, to $908,122 thousand as of March 31, 2024, a decrease of 4.5%[10]. - Cash and cash equivalents decreased from $65,849 thousand as of June 30, 2023, to $51,731 thousand as of March 31, 2024, a decline of 21.4%[10]. - The corporation's total stockholders' equity slightly decreased from $129,687,000 as of June 30, 2023, to $129,506,000 as of March 31, 2024, reflecting a decrease of about 0.14%[10]. - The total loans held for investment, net of fair value adjustments, was $1,065.8 million as of March 31, 2024, a decrease from $1,077.6 million as of June 30, 2023[56]. Income and Expense Analysis - Total interest income increased to $13,807 thousand for the quarter ended March 31, 2024, compared to $12,008 thousand for the same quarter in 2023, reflecting a growth of 14.9%[13]. - Total non-interest income decreased to $848 thousand for the quarter ended March 31, 2024, from $981 thousand in the same quarter of 2023, a decline of 13.5%[13]. - Total non-interest expense increased to $7,168 thousand for the quarter ended March 31, 2024, compared to $6,924 thousand for the same quarter in 2023, an increase of 3.5%[13]. - Total interest expense for the quarter ended March 31, 2024, was $5,248 million, an increase of 101% from $2,607 million in the same quarter of 2023[13]. - The provision for credit losses for the quarter was $108,000, compared to a recovery of $35,000 in the same quarter of the previous year[84]. Credit Losses and Allowance Management - The allowance for credit losses (ACL) on loans increased to $7,108,000 as of March 31, 2024, up from $6,001,000 in the previous year[84]. - The ACL on loans as a percentage of gross loans held for investment rose to 0.67% for the quarter ended March 31, 2024, compared to 0.56% for the same period in 2023[84]. - The Corporation recognized a one-time increase of $1.2 million to its Allowance for Credit Losses (ACL) upon implementing CECL on July 1, 2023[71]. - The provision for credit losses included a recovery of $136,000 for single-family loans, while multi-family loans experienced a charge of $41,000[88]. - The total allowance for credit losses (ACL) at the end of the period increased to $7,108,000 from $7,000,000 at the beginning of the period, reflecting a provision for credit losses of $108,000[88]. Investment Securities and Fair Value - Total investment securities as of March 31, 2024, were valued at $137.924 million, with an unrealized loss of $15.8 million, compared to an unrealized loss of $18.9 million as of June 30, 2023[46]. - The fair value of loans held for investment at fair value is $1,054,000 as of March 31, 2024, reflecting management's estimates of specific credit risk attributes[124]. - The total fair value measurement using significant other unobservable inputs for the quarter ended March 31, 2023, was $1,458,000[125]. - The fair value of investment securities available for sale increased from $2,155,000 on June 30, 2023, to $1,935,000 on March 31, 2024[123]. - The total gains or losses included in earnings for Level 3 assets for the quarter ended March 31, 2024, show a loss of $28,000[124]. Dividends and Stock Repurchase - The company paid cash dividends of $0.14 per share in the quarter ended March 31, 2024[17]. - The Corporation's stock repurchase plan authorized the purchase of up to 350,353 shares as of September 28, 2023, with 237,592 shares remaining available for purchase as of March 31, 2024[155]. - During the quarter ended March 31, 2024, the Corporation repurchased 50,051 shares at a weighted average cost of $13.99 per share[155]. - A quarterly cash dividend of $0.14 per share was declared on April 25, 2024, payable on June 6, 2024[156]. - The average cost per share for stock repurchases over the nine months ended March 31, 2024, was $13.06[155].

Provident Financial Holdings, Inc (NASDAQ:PROV) Q3 2024 Results Conference Call April 30, 2024 12:00 PM ET Company Participants Donavon Ternes - President & CEO Conference Call Participants Andrew Liesch - Piper Sandler Timothy Coffey - Janney Operator Thank you for standing by. My name is Kathleen, and I will be your conference operator today. At this time, I would like to welcome everyone to the Provident Financial Holdings Third Quarter for Year 2024 Earnings Call. [Operator Instructions] I would now li ...

Exhibit 99.1 3756 Central Avenue NEWS RELEASE Riverside, CA 92506 (951) 686-6060 PROVIDENT FINANCIAL HOLDINGS REPORTS THIRD QUARTER FISCAL YEAR 2024 RESULTS Net Income of $1.49 Million in the March 2024 Quarter Net Interest Margin of 2.74% in the March 2024 Quarter Loans Held for Investment of $1.07 Billion at March 31, 2024, Down 1% from June 30, 2023 Total Deposits of $908.1 Million at March 31, 2024, Down 5% from June 30, 2023 Non-Performing Assets to Total Assets Ratio of 0.17% at March 31, 2024 Non-Int ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) [ ✓ ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023 [ ]TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to _________________ Commission File Number 000-28304 PROVIDENT FINANCIAL HOLDINGS, INC. (Exact name of registrant as ...