Welcome to our dedicated page for Provident Financial Hldgs news (Ticker: PROV), a resource for investors and traders seeking the latest updates and insights on Provident Financial Hldgs stock.
Provident Financial Holdings Inc. (PROV), chartered in 1956, operates as the largest independent community bank in Riverside County, California. Originally founded as Provident Federal Savings and Loan Association, the bank has always prioritized its customers, adapting to their changing needs and expectations over the years.
Provident Bank is committed to local decision-making, believing that communities are better served when financial products and services are tailored by people who understand the local markets. This philosophy is ingrained in their corporate values, which emphasize understanding the unique financial needs of customers and delivering reliable products and services to foster long-term client relationships.
The company's primary business segment is community and mortgage banking. It provides a wide range of banking services to consumers and small to mid-sized businesses in the Inland Empire region of Southern California. Key activities include attracting deposits, offering business checking accounts, and originating and purchasing various types of loans, such as single-family, multi-family, commercial real estate, construction, and consumer loans. Additionally, Provident Bank services loans for other entities.
Recent achievements and current projects reflect Provident Bank's dedication to maintaining high asset quality and supporting the financial health of its community. The bank continues to innovate, ensuring its offerings meet the evolving needs of its customers.
Provident Financial Holdings (PROV) reported net income of $1.90 million ($0.28 per diluted share) for Q1 FY2025, up 8% from $1.76 million year-over-year but down 3% sequentially. The net interest margin was 2.84%, up 10 basis points from the previous quarter. Total loans held for investment remained stable at $1.05 billion, while deposits decreased 3% to $863.9 million. The company benefited from a $697,000 recovery of credit losses and improved credit quality with non-performing assets ratio decreasing to 0.17%. The increase in earnings was partially offset by higher non-interest expenses and a decrease in net interest income.
Provident Financial Holdings (NASDAQ: PROV) has announced a quarterly cash dividend of $0.14 per share. The dividend will be paid on December 5, 2024, to shareholders of record as of the close of business on November 14, 2024. The company, which operates as the holding company for Provident Savings Bank, F.S.B., made this announcement through its Board of Directors.
Provident Financial Holdings, Inc. (Nasdaq GS: PROV), the holding company for Provident Savings Bank, F.S.B., has announced plans for its first quarter fiscal 2025 earnings release and conference call. The company will:
1. Distribute a news release announcing earnings prior to market open on Monday, October 28, 2024.
2. Host a conference call for institutional investors and bank analysts on Tuesday, October 29, 2024, at 9:00 a.m. (Pacific).
The conference call can be accessed by dialing 1-800-715-9871 and referencing Conference ID number 3610756. An audio replay will be available through Tuesday, November 5, 2024, by dialing 1-800-770-2030 with the same Conference ID.
Provident Financial Holdings (NASDAQ: PROV) has announced an extension of its September 28, 2023 Stock Repurchase Plan. The company's Board of Directors has authorized the extension for one year or until completion, whichever comes first. Currently, 99,968 shares are available for purchase under the Plan.
The plans to acquire these shares through open market purchases or privately negotiated transactions. The timing and volume of purchases will depend on various factors, including market conditions, capital requirements, and available cash allocated to the stock repurchase program.
Provident Financial Holdings (NASDAQ: PROV) reported net income of $1.95 million, or $0.28 per diluted share, for Q4 2024, up 8% from $1.81 million a year ago. The increase was primarily due to lower non-interest expenses and higher non-interest income, partially offset by decreased net interest income. For fiscal year 2024, net income decreased 14% to $7.35 million. Key metrics include:
- Net interest margin: 2.74% in Q4 2024
- Loans held for investment: $1.05 billion at June 30, 2024, down 2% YoY
- Total deposits: $888.3 million at June 30, 2024, down 7% YoY
- Non-performing assets to total assets ratio: 0.20% at June 30, 2024
The company remains committed to prudent expense management, strong risk practices, and maintaining a sound balance sheet while continuing cash dividends and stock repurchases.
Provident Financial Holdings (NASDAQ: PROV) has announced a quarterly cash dividend of $0.14 per share. The dividend will be payable on September 5, 2024 to shareholders of record as of the close of business on August 15, 2024. This announcement demonstrates the company's commitment to returning value to shareholders and maintaining a consistent dividend policy.
Provident Financial Holdings is the holding company for Provident Savings Bank, F.S.B. The declaration of this dividend reflects the company's financial stability and confidence in its future prospects. Investors may view this as a positive sign of the company's ability to generate steady cash flow and maintain shareholder returns.
Provident Financial Holdings (Nasdaq GS: PROV), the holding company for Provident Savings Bank, F.S.B., has announced its plans for the upcoming earnings release and conference call. The company will:
- Distribute a news release announcing earnings for the fourth quarter and fiscal 2024 before the market opens on Monday, July 29, 2024
- Host a conference call for institutional investors and bank analysts on Tuesday, July 30, 2024, at 9:00 a.m. (Pacific)
The conference call can be accessed by dialing 1-800-715-9871 and using Conference ID number 7361828. An audio replay will be available until Tuesday, August 6, 2024, by dialing 1-800-770-2030 with the same Conference ID.
Provident Bank's Community Partnership Program has donated over $892,000 to local non-profit organizations since 2006. In 2023 alone, over $49,000 was donated to various groups in Riverside and San Bernardino Counties, emphasizing the importance of giving back to the community. The Program allows non-profits linked to Provident Bank to receive annual donations by connecting their members' accounts, empowering customers to contribute to charitable campaigns. With approximately $1.3 billion in assets, Provident Bank remains committed to supporting local organizations and improving the quality of life in the communities it serves.
Provident Financial Holdings, Inc., reported a net income of $1.49 million in the March 2024 quarter, with loans held for investment of $1.07 billion and total deposits of $908.1 million. The nonperforming assets to total assets ratio was 0.17% at March 31, 2024. The company also announced a net interest margin of 2.74% in the March 2024 quarter, but a 5% decrease in total deposits compared to June 30, 2023.
Despite challenges in the operating environment due to elevated interest rates and yield curve inversion, Provident Financial Holdings, Inc. is committed to prudently managing operating expenses, maintaining sound credit and interest risk, and executing a common stock repurchase program aligned with its business plan. The Company recorded a 30% decrease in net income from the second quarter of fiscal 2024 to the third quarter of fiscal 2024
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