PROVIDENT FINANCIAL HOLDINGS INC

For the period ended Jun 30, 2024. Filed Aug 30, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Aug 30, 2024

PROV$18.18-0.1%Stored close · as of Nov 9, 2026

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Contents

EX-13 · Financial Highlights

Financial Highlights

The following tables set forth information concerning the consolidated financial position and results of operations of the Corporation and its subsidiary at the dates and for the periods indicated.


· · At or For The Year Ended June 30,
(In Thousands, Except Per Share Information) · 2024 · 2023 · 2022 · 2021 · 2020
FINANCIAL CONDITION DATA: · · · · · · · · · · · · · ·
Total assets	$1,272,200	$1,332,948	$1,187,038	$1,183,596	$1,176,837
Loans held for investment, net	1,052,979	1,077,629	939,992	850,960	902,796
Cash and cash equivalents	51,376	65,849	23,414	70,270	116,034
Investment securities	131,900	156,492	188,421	226,893	123,344
Deposits	888,348	950,571	955,504	937,973	892,969
Borrowings	238,500	235,009	85,000	100,983	141,047
Stockholders’ equity	129,941	129,687	128,650	127,280	123,976
Book value per share	18.98	18.41	17.66	16.88	16.67

OPERATING DATA:
Interest income	$54,730	$45,992	$34,730	$35,201	$42,456
Interest expense	19,807	9,007	3,135	4,562	6,055
Net interest income	34,923	36,985	31,595	30,639	36,401
(Recovery of) provision for credit losses	(63)	374	(2,462)	(708)	1,119
Net interest income after (recovery of) provision for credit losses	34,986	36,611	34,057	31,347	35,282
Loan servicing and other fees	337	414	1,056	1,170	819
(Loss) gain on sale of loans, net	(66)	124	40	(103)	(132)
Deposit account fees	1,154	1,296	1,302	1,247	1,610
Card and processing fees	1,384	1,525	1,639	1,605	1,454
Other non-interest income	1,132	716	679	654	769
Operating expenses	28,540	28,270	25,915	25,733	28,900
Income before income taxes	10,387	12,416	12,858	10,187	10,902
Provision for income taxes	3,036	3,824	3,765	2,626	3,213
Net income	$7,351	$8,592	$9,093	$7,561	$7,689
Basic earnings per share	$1.06	$1.20	$1.23	$1.01	$1.03
Diluted earnings per share	$1.06	$1.19	$1.22	$1.00	$1.01
Cash dividend per share	$0.56	$0.56	$0.56	$0.56	$0.56

Financial Highlights


· · At or For The Year Ended June 30, ·
· 2024 · 2023 · 2022 · 2021 · 2020 ·
KEY OPERATING RATIOS: · · · · · · · · · ·

Performance Ratios
Return on average assets	0.57%	0.68%	0.76%	0.64%	0.69%
Return on average stockholders’ equity	5.62	6.58	7.14	6.05	6.26
Interest rate spread	2.62	2.92	2.69	2.62	3.30
Net interest margin	2.78	2.99	2.72	2.66	3.36
Average interest-earning assets to average interest- bearing liabilities	110.28	110.27	110.67	110.78	111.32
Operating expenses as a percentage of average total assets	2.22	2.23	2.17	2.18	2.59
Efficiency ratio(1)	73.44	68.85	71.37	73.08	70.62
Stockholders’ equity to total assets ratio	10.21	9.73	10.84	10.75	10.53
Dividend payout ratio	52.83	47.06	45.88	55.83	55.45

The Bank's Regulatory Capital Ratios
Tier 1 leverage capital (to adjusted average assets)	10.02%	9.59%	10.47%	10.19%	10.13%
CET1 capital (to risk-weighted assets)	19.29	18.50	19.58	18.58	17.51
Tier 1 capital (to risk-weighted assets)	19.29	18.50	19.58	18.58	17.51
Total capital (to risk-weighted assets)	20.38	19.38	20.47	19.76	18.76

Asset Quality Ratios
Non-performing loans as a percentage of loans held for investment, net	0.25%	0.12%	0.15%	1.02%	0.55%
Non-performing assets as a percentage of total assets	0.20	0.10	0.12	0.73	0.42
Allowance for credit losses as a percentage of gross loans held for investment	0.67	0.55	0.59	0.88	0.91
Net (recoveries) charge-offs to average loans receivable, net	—	—	(0.05)	—	(0.01)

(1)	Operating expenses as a percentage of net interest income and non-interest income.

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