PROV
Provident Financial Holdings, Inc.16.10
-0.02-0.12%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
FY Q1 '26
Q&A echoes script, flags growth hurdles
Q&A largely reaffirmed prepared remarks on steady loan originations offset by prepayments, but pinpointed borrower hesitancy in multifamily and CRE due to higher rates versus a few years ago, alongside loosening multifamily underwriting to pre-COVID standards over the past year to lift pipelines. Management expects modest NIM expansion in the December quarter, mirroring recent gains amid Fed cuts and funding maturities. Lower rates shortened loan lives for the $626k credit recovery, potentially trimming the allowance further if prepays rise without growth or credit slips. Prepayments exactly match originations. Tone stayed confident on NIM tailwinds; investors will track loan growth durability.
Key Stats
Market Cap
104.71MP/E (TTM)
17.89Basic EPS (TTM)
0.90Dividend Yield
0.03%Recent Filings
8-K
Shareholders elect directors, split on pay
Provident Financial Holdings held its annual shareholder meeting on November 20, 2025, electing Debbi H. Guthrie, Kathy M. Michalak, and Matthew E. Webb to its board for three-year terms despite 39% withheld votes each. Shareholders narrowly approved executive compensation advisory (52.75% for) while overwhelmingly ratifying Deloitte & Touche as auditors (97.67% for). Significant opposition signals board scrutiny.
10-Q
Q1 FY2026 results
Provident Financial Holdings edged out a solid quarter, with net interest income climbing 4% year-over-year to $8.9 million, fueled by a 16 basis point expansion in net interest margin to 3.00% as adjustable-rate loans repriced higher while borrowing costs dipped. Yet net income slipped 12% to $1.7 million, or $0.25 diluted EPS, pressured by a steeper tax bill from expired stock option write-offs and softer non-interest income. Loans held for investment dipped 0.4% quarter-over-quarter to $1.04 billion, with single-family up slightly but multi-family down amid prepayments; deposits fell 1.6% to $875 million, offset by $213 million in stable FHLB borrowings and $472 million in untapped liquidity lines. Cash flow from operations held steady at $2.5 million. Non-GAAP metrics not disclosed in the 10-Q. Office real estate exposure lingers as a watch point amid California's vacancy woes.
8-K
Q1 net income rises sequentially
Provident Financial Holdings reported Q1 fiscal 2026 net income of $1.68 million, up 3% from the prior quarter but down 12% year-over-year, driven by a $314,000 net interest income rise to $8.93 million on a 3.00% margin—16 basis points higher than last year—yet offset by higher taxes and expenses. Loans held for investment dipped slightly to $1.04 billion, while deposits fell 2% to $874.8 million; a $626,000 credit loss recovery stemmed from shorter loan lives amid lower rates. Credit quality held firm, with non-performing assets at 0.15% of total assets. Balance sheet growth remains challenging.
10-K
FY2025 results
Provident Financial Holdings wrapped FY2025 with total assets steady at $1.25B, as single-family loans grew 5% y/y to $544M—driven by $93M in originations that outpaced $133M in repayments—while multi-family and commercial real estate balances dipped 7% to $497M amid higher prepayments. Net interest income climbed 2% to $35.5M, with the margin expanding 15bp to 2.93% as adjustable-rate loans repriced faster than deposit costs, though time deposits rose 14% to $312M. Q4 momentum showed sequential loan growth and stable deposits, but non-interest expenses jumped 8% to $30.8M on higher salaries and litigation costs, yielding a $666K credit loss recovery versus $63K last year. Liquidity remains solid with $53M in cash and $475M borrowing capacity; the board declared a $0.14/share dividend post-year-end. Yet, regional economic headwinds like wildfires and office sector stress could pressure quarterly repayments.
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