Certain matters discussed in this Form 10-Q constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to the Corporation’s financial condition, liquidity, results of operations, plans, objectives, future performance or business. You should not place undue reliance on these statements as they are subject to various risks and uncertainties. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements the Corporation may make. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to the Corporation.
There are a number of important factors that could cause future results to differ materially from historical performance and those expressed or implied by these forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to:
| ● | adverse economic conditions in our local market areas or other markets where we have lending relationships; |
| ● | changes in employment levels, labor shortages, persistent inflation, recessionary pressures or slowing economic growth; |
| ● | changes in interest rate levels and volatility, and the timing and pace of such changes, including actions by the Federal Reserve, which could adversely affect our revenues and expenses, the value of assets and obligations, and the availability and cost of capital and liquidity; |
| ● | the impact of inflation and related monetary and fiscal policy responses, and their effect on consumer and business behavior; |
| ● | the effects of a federal government shutdown, debt ceiling standoff, or other fiscal policy uncertainty; |
| ● | credit risks associated with lending activities, including loan delinquencies, loan charge-offs, changes in our allowance for credit losses (“ACL”), and provision for credit losses; |
| ● | increased competitive pressures among financial services companies, including repricing and competitors’ pricing initiatives, and their impact on our market position and loan and deposit products; |
| ● | the quality and composition of our securities portfolio and the impact of adverse changes in the securities markets; |
| ● | fluctuations in deposits; |
| ● | secondary market conditions for loans and our ability to sell loans in the secondary market; |
| ● | liquidity issues, including our ability to borrow funds or raise additional capital, if necessary; |
| ● | our ability to successfully implement key growth initiatives and strategic priorities; |
| ● | the impact of bank failures or adverse developments at other banks and related negative publicity about the banking industry on investor and depositor sentiment; |
| ● | results of examinations by regulatory authorities, including the possibility that regulatory authorities may, among other things, institute a formal or informal enforcement action against us or our bank subsidiary which could require us to increase our ACL, write down assets, change our regulatory capital position or affect our ability to borrow funds or maintain or increase deposits or impose additional requirements or restrictions on us, any of which could adversely affect our liquidity and earnings; |
| ● | the ability to adapt to rapid technological changes, including advancements related to artificial intelligence, digital banking platforms, and cybersecurity; |
| ● | legislative or regulatory changes, including but not limited to changes in capital requirements, banking regulation, tax laws, or consumer protection laws; |
| ● | the use of estimates in determining the fair value of assets, which may prove inaccurate; |
| ● | vulnerabilities in information systems or third-party service providers, including disruptions, breaches, or cyberattacks; |
| ● | geopolitical developments and international conflicts, or the imposition of new or increased tariffs and trade restrictions, which could disrupt financial markets, global supply chains, commodity prices, or economic activity; |
| ● | staffing fluctuations in response to changes in product demand or corporate implementation of strategies; |
| ● | our ability to pay dividends on our common stock; |
| ● | environmental, social and governance matters; |
| ● | effects of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, domestic political unrest and other external events; |
| ● | availability of appropriate insurance products in our market areas; and |
| ● | other factors described in our Form 10-K and in this Quarterly Report on Form 10-Q and other reports filed with or furnished to the Securities and Exchange Commission (“SEC”), which are available on our website at www.myprovident.com and on the SEC’s website at www.sec.gov. |
Forward-looking statements are based upon management’s beliefs and assumptions at the time they are made. We undertake no obligation to publicly update or revise any forward-looking statements included in this document or to update the reasons why actual results could differ from those contained in such statements, whether as a result of new information, future events or otherwise, except as may be required by law. In light of these risks, uncertainties and assumptions, the forward-looking statements discussed in this document might not occur, and you should not put undue reliance on any forward-looking statements. These factors could cause our actual results for fiscal 2026 and beyond to differ materially from those expressed or implied in any forward-looking statements by, or on behalf of, us and could negatively affect the Corporation’s consolidated financial condition and consolidated results of operations as well as its stock price performance.
