Provident Financial Holdings, Inc. (NASDAQ:PROV) Q2 2024 Earnings Conference Call January 30, 2024 12:00 PM ET Company Participants Donavon Ternes - President and Chief Executive Officer Conference Call Participants Andrew Liesch - Piper Sandler Tim Coffey - Janney Operator Thank you for standing by. My name is Aaron, and I will be your conference operator for today. At this time, I would like to welcome everyone to the Provident Financial Holdings Second Quarter Earnings Call. All lines have been placed on ...

Financial Performance - Net income for the quarter ended September 30, 2023, was $1,762 thousand, down from $2,090 thousand in the same quarter of 2022, reflecting a decrease of about 15.7%[13]. - Basic earnings per share decreased from $0.29 in the quarter ended September 30, 2022, to $0.25 in the quarter ended September 30, 2023, a decline of approximately 13.8%[13]. - Total non-interest income for the quarter ended September 30, 2023, was $751 thousand, a decrease of 25.1% from $1,003 thousand in the same quarter of 2022[13]. - Total non-interest expense was $6,856 million, a slight decrease from $6,941 million year-over-year[13]. - Cash dividends of $0.14 per share were paid in the quarter ended September 30, 2023[16]. Asset and Liability Changes - Total assets decreased from $1,332,948 thousand as of June 30, 2023, to $1,313,115 thousand as of September 30, 2023, representing a decline of approximately 1.5%[10]. - Total liabilities decreased to $1,183,910,000 as of September 30, 2023, compared to $1,203,261,000 as of June 30, 2023, a decrease of 1.6%[10]. - Total stockholders' equity decreased from $129,687 thousand as of June 30, 2023, to $129,205 thousand as of September 30, 2023, a decline of about 0.4%[10]. - Total deposits decreased from $950,571 thousand as of June 30, 2023, to $931,131 thousand as of September 30, 2023, a decline of approximately 2.0%[10]. Interest Income and Expenses - Total interest income increased to $13,342 thousand for the quarter ended September 30, 2023, compared to $9,898 thousand for the same quarter in 2022, marking a growth of approximately 34.9%[13]. - Net interest income after provision for credit losses was $8,594 thousand for the quarter ended September 30, 2023, compared to $8,895 thousand for the same quarter in 2022, a decrease of about 3.4%[13]. Credit Loss Provisions - The provision for credit losses increased to $545 thousand for the quarter ended September 30, 2023, compared to $70 thousand for the same quarter in 2022, indicating a significant rise in credit loss provisions[13]. - The allowance for credit losses (ACL) on loans increased by $1,197,000 due to the adoption of the current expected credit loss (CECL) methodology[29]. - The ACL as a percentage of gross loans held for investment rose to 0.72% in Q3 2023 from 0.57% in Q3 2022[68]. - The provision for credit losses for Q3 2023 was $536,000, compared to $70,000 in Q3 2022, indicating a significant increase in provisions[68]. Loan Portfolio - Total loans held for investment, net, decreased from $1.077629 billion on June 30, 2023, to $1.072170 billion on September 30, 2023, a decrease of about 0.5%[48]. - The total gross loans held for investment amounted to $1.070468 billion as of September 30, 2023[49]. - Single-family mortgage loans increased slightly from $518.821 million to $521.576 million, reflecting a growth of approximately 0.5%[48]. - Multi-family mortgage loans decreased from $461.113 million to $457.351 million, a decline of about 0.6%[48]. Investment Securities - The total investment securities held to maturity amounted to $147,574,000, with an estimated fair value of $126,851,000, indicating a significant unrealized loss[37]. - The total fair value of investment securities decreased from $137.696 million to $128.941 million, a decrease of approximately 6.3%[47]. - The Corporation held investments with an unrealized loss position of $20.8 million as of September 30, 2023, compared to $18.9 million at June 30, 2023[40]. - The fair value of investment securities available for sale totaled $2.09 million as of September 30, 2023, compared to $2.155 million as of June 30, 2023[103]. Non-Performing Loans - Non-performing loans totaled $1,408,000 as of September 30, 2023, down from $1,422,000 as of June 30, 2023[70]. - The average recorded investment in non-performing loans for the quarter ended September 30, 2023, was $1.4 million, compared to $1.1 million for the same quarter in 2022[80]. - The total single-family loans with a related allowance were $1,433,000, with a net recorded investment of $1,361,000 after accounting for charge-offs[76]. - The total current period charge-offs were reported as zero across all loan categories[53]. Cash Flow and Financing Activities - Net cash provided by operating activities increased to $3,364,000, up from $2,262,000 year-over-year[21]. - Net cash used for financing activities was $(20,916,000), a significant decrease from $58,076,000 in the previous year, indicating a shift in financing strategy[21]. - The net decrease in cash and cash equivalents for the quarter was $(7,871,000), contrasting with an increase of $15,287,000 in the same quarter of the previous year[21]. Regulatory and Methodological Changes - The Corporation adopted ASC 326 on July 1, 2023, which impacted the ACL calculation methodology, transitioning to the Current Expected Credit Loss (CECL) model[68]. - The transition from LIBOR to SOFR indices for loans held for investment was completed by September 30, 2023[25]. - The qualitative portion of reserves on collectively evaluated loans is determined using management judgment, reflecting various risk factors[60].

Provident Financial Holdings, Inc. (NASDAQ:PROV) Q1 2024 Earnings Conference Call October 26, 2023 12:00 PM ET Company Participants Craig Blunden – Chairman and Chief Executive Officer Donavon Ternes – President, Chief Operating and Chief Financial Officer Conference Call Participants Tim Coffey – Janney Andrew Liesch – Piper Sandler Operator Ladies and gentlemen, thank you for standing by, and welcome to the Provident Financial Holdings First Quarter Earnings Call. At this time, all participants are in a l ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 000-28304 | PROVIDENT FINANCIAL HOLDINGS, INC. | | --- | (Exact name of registrant as specified in its charter) | Delaware | | 33-0704889 | | --- | --- | -- ...

Provident Financial Holdings Inc. (NASDAQ:PROV) Q4 2023 Earnings Conference Call July 25, 2023 12:00 PM ET Company Participants Craig Blunden - Chairman & CEO Donavon Ternes - President, COO & CFO Conference Call Participants Andrew Liesch - Piper Sandler Operator Ladies and gentlemen, good afternoon. Thank you for standing by, and welcome to the Provident Financial Holdings Fourth Quarter Earnings Conference Call. [Operator Instructions] As a reminder, today's conference is being recorded. At this time, I' ...

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 March 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 spe ...

Provident Financial Holdings Inc. (NASDAQ:PROV) Q3 2023 Results Conference Call April 27, 2023 12:00 PM ET Company Participants Craig Blunden - Chairman & CEO Donavon Ternes - President, COO, CFO & Corporate Secretary Conference Call Participants Tim Coffey - Janney Operator Ladies and gentlemen, thank you for standing by. Welcome to the Provident Financial Holdings Third Quarter Earnings Call. [Operator Instructions] As a reminder, today's conference is being recorded. I would now like to turn the conferen ...

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, 2022 [ ]TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to _________________ PROVIDENT FINANCIAL HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delawar ...

Provident Financial Holdings, Inc. (NASDAQ:PROV) Q2 2023 Earnings Conference Call January 30, 2023 12:00 PM ET Company Participants Craig Blunden - Chairman & CEO Conference Call Participants Operator Ladies and gentlemen, thank you for standing by. Welcome to the Provident Financial Holdings Second Quarter Earnings Conference Call. At this time, all participants are in listen-only mode. Later, we will conduct a question-and-answer session and instructions will be given at that time. [Operator Instructions] ...

Table of Contents For the quarterly period ended September 30, 2022 [ ]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 specified in its charter) Delaware 33-0704889 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) (State or other jurisdiction of incorporation o ...