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, Inc. (NASDAQ: PROV) reported a net income of $1.70 million for the third quarter of fiscal 2022, up 9% year-over-year, driven by a $445,000 recovery from loan losses. Total deposits increased 3% to $963.5 million, while loans held for investment rose 5% to $893.6 million. The return on average assets was 0.57%, and the return on equity reached 5.33%. Notably, non-interest expenses were well-controlled at $6.90 million. However, the net income decreased 25% sequentially due to declines in loan servicing fees and net interest income.
Provident Financial Holdings, Inc. (Nasdaq GS: PROV) announced it will release its earnings for Q3 2022 on April 26, 2022, before market open. The release will be followed by a conference call on April 27, 2022, at 9:00 a.m. (Pacific), aimed at institutional investors and bank analysts to discuss financial results. Interested participants can access the call by dialing 1-844-867-6169 with the code 6034711. An audio replay will be available until May 4, 2022, at 1-866-207-1041 using access code 9455626.
Provident Financial Holdings, Inc. (PROV) reported a net income of $2.26 million for the quarter ending December 31, 2021, marking a 93% increase year-over-year. The increase was attributed to improved provisions for loan losses and a 40% rise in non-interest income. Total deposits rose 2% to $956.3 million. However, net income decreased 15% from the previous quarter, primarily due to increased non-interest expenses. The company maintains a strong financial foundation, highlighted by a return on average assets of 0.76% and a return on average equity of 7.11%.
Provident Financial Holdings, NASDAQ: PROV, announced a quarterly cash dividend of $0.14 per share, with a record date of February 15, 2022, and a payment date of March 8, 2022. Shareholders will benefit from this cash distribution. The company emphasized its commitment to shareholders while noting potential risks related to market conditions, interest rates, and regulatory changes that could affect future performance. The announcement reflects the company's ongoing financial health and dedication to shareholder returns.
Provident Financial Holdings, Inc. (Nasdaq GS: PROV) will announce its Q2 fiscal 2022 earnings on January 26, 2022, before market open. A conference call for institutional investors will follow on January 27, 2022, at 9:00 a.m. (Pacific) to discuss financial results. Details for accessing the call include a dial-in number of 1-877-226-8189 with access code 5331748. An audio replay will be available from January 27 to February 3, 2022, using the number 1-866-207-1041 and access code 9244107.
Provident Financial Holdings, Inc. (NASDAQ GS: PROV) announced a quarterly cash dividend of $0.14 per share, declared by its Board of Directors. Shareholders on record as of November 18, 2021 will receive the dividend, payable on December 9, 2021. This decision reflects the company's ongoing commitment to returning value to its shareholders.
Provident Financial Holdings, Inc. (NASDAQ: PROV) reported a net income of $2.67 million for the first quarter of fiscal 2022, marking an 80% increase from $1.49 million in the same quarter last year. Loans held for investment rose 1% to $859 million, while total deposits increased 2% to $956.7 million. The company experienced improved asset quality with a recovery from the allowance for loan losses amounting to $339,000. However, net interest income declined by 3% to $7.89 million, and diluted earnings per share decreased by 20% from the previous quarter.
Provident Financial Holdings, Inc. (Nasdaq GS: PROV) will announce its earnings for Q1 fiscal 2022 on October 26, 2021, before market open. A conference call for investors and analysts is scheduled for October 27, 2021, at 9:00 a.m. Pacific Time to discuss these financial results. Interested parties can join the call by dialing 1-877-226-8163 with access code 4589704. An audio replay will be available until November 3, 2021. The announcement indicates ongoing communication with stakeholders and highlights a structured approach to financial reporting.
Provident Financial Holdings (NASDAQ: PROV) reported a net income of $3.34 million for the quarter ended June 30, 2021, significantly up from $1.58 million year-over-year. Earnings per diluted share rose to $0.44, a 111% increase. Total deposits increased by 5% to $938 million, while loans held for investment rose by 1% to $851 million. The company experienced an improved asset quality with a recovery from loan loss provisions amounting to $767,000. However, net interest income decreased by 11%, reflecting lower margins in a challenging interest rate environment.
Provident Financial Holdings, the parent company of Provident Savings Bank, has donated over $750,000 to local non-profits through its Community Partnership Program since 2006. In 2020, the bank contributed more than $49,000 to various organizations in Riverside and San Bernardino Counties. This initiative allows participating non-profits to link their ID number to bank customers, enhancing their donation potential. With approximately $1.2 billion in assets, Provident Bank remains the largest independent community bank in Riverside County.
FAQ
What is the current stock price of Provident Financial Hldgs (PROV)?
What is the market cap of Provident Financial Hldgs (PROV)?
What is Provident Financial Holdings Inc.?
When was Provident Financial Holdings Inc. founded?
What types of services does Provident Financial Holdings Inc. offer?
Where does Provident Financial Holdings Inc. operate?
What is Provident Financial Holdings Inc.'s approach to banking?
What is the company's primary business segment?
Does Provident Financial Holdings Inc. service loans for other entities?
What are some recent achievements of Provident Financial Holdings Inc.?
What is the company's philosophy?
How does Provident Financial Holdings Inc. adapt to customer needs?
