Business
Provident Financial Holdings Reports Third Quarter of Fiscal 2026 Results
Net Income of $1.35 million in the March 2026 Quarter, Down 6% from the Sequential Quarter and Down 27% from the Comparable Quarter Last Year Net Interest
About this update from Provident Financial Holdings, Inc.
[{"type":"text","content":"Net Income of $1.35 million in the March 2026 Quarter, Down 6% from the Sequential Quarter and Down 27% from the Comparable Quarter Last Year Net Interest Margin of 3.13% in the March 2026 Quarter, Up 10 Basis Points from the Sequential Quarter and Up 11 Basis Points from the Comparable Quarter Last Year Loans Held for Investment of $1.03 Billion at March 31, 2026, Down 2% from $1.05 Billion at June 30, 2025 Total Deposits of $892.9 Million at March 31, 2026, up from $888.8 million at June 30, 2025 Non-Performing Assets to Total Assets Ratio of 0.08% at March 31, 2026, Down from 0.11% at June 30, 2025 RIVERSIDE, Calif., April 28, 2026 (GLOBE NEWSWIRE) -- Provident Financial Holdings, Inc. (“Company”), NASDAQ GS: PROV, the holding company for Provident Savings Bank, F.S.B. (“Bank”), today announced earnings for the third quarter of the fiscal year ending June 30, 2026. The Company reported net income of $1.35 million, or $0.21 per diluted share (on 6.45 million average diluted shares outstanding), for the quarter ended March 31, 2026, down six percent from $1.44 million, or $0.22 per diluted share (based on 6.53 million average diluted shares outstanding), in the second quarter of fiscal 2026, and down 27 percent from net income of $1.86 million, or $0.28 per diluted share (based on 6.73 million average diluted shares outstanding), in the comparable period a year ago. The decrease from the sequential quarter primarily reflected a $326,000 provision for credit losses, in contrast to a $158,000 recovery of credit losses, and a $204,000 decrease in non-interest income (mainly due to lower unrealized gains on other equity investments and loan prepayment fees), partially offset by a $310,000 decrease in non-interest expense (mainly due to a non-recurring $214,000 pre-litigation voluntary mediation settlement expense related to an employment matter, recorded in the second quarter of fiscal 2026) and a $239,000 increase in net interest income (mainly due to a $274,000 special cash dividend received from the Federal Home Loan Bank (“FHLB”) – San Francisco). The decrease from the comparable quarter last year was due primarily to a $326,000 provision for credit losses in contrast to a $391,000 recovery of credit losses and a $194,000 decrease in non-interest income, partly offset by a $217,000 decrease in non-interest expense. For the nine...