Provident Financial Holdings, Inc. · NASDAQ:PROV
Provident Financial — Q1 FY2021 Earnings Presentation
15 slides from Provident Financial's earnings presentation, Oct 28, 2020
Slide 1: First Quarter of Fiscal 2021
PROVIDENTif& Provident Financial Holdings, Inc. First Quarter of Fiscal 2021 September 30, 2020 provizenTsa Sw. myprovident.com
Slide 2: Safe Harbor Statement
Safe Harbor Stateme This presentation contains statements that the Company believes are “forward-looking statements" within the meaning of the Private Securties Litigation Refarm Act of 1995, These statements relate to the Company's financial condition, liquidity, results of operations, plans, objec
Slide 3: Market Highlights
Market Highlights Provident Financial Holdings, Inc. Nasdaq GS: PROV Share Price: $11.90 52-Week Range: $11.90 - $22.99 Shares Outstanding: 7,441 ,259 shares Market Capitalization: $88.6 million P/E (ttm): 13.68x Diluted EPS (ttm): $0.87 Annual Dividend & Yield: $0.56 (4.71%) As of September 30, 202
Slide 4: Branch locations and market position
Blythe Canyon Crest, Riverside Corona Corporate Office, Riverside Downtown, Riverside Hemet La Sierra, Riverside Morena Valley Orange Crest, Riverside Rancho Mirage Redlands Sun City Temecula SBP Cot hee pe Apt ceed. eg 7012 Meso Cone, 10 HERE > Largest independent community bank > Expanding custome
Slide 5: Financial Performance
Financial Performa e Developments > Net Interest Income decreases approximately 1% (sequential quarter) > Net InterestMargin decreases by 11 basis points (sequential quarter) > Non-Interest Income increases by approximately 15% (sequential quarter) > Operating Expenses decrease by approximately 3% (
Slide 6: Pre-Provision, Pre-Tax Earnings
Pre-Provision, Pre-Tax Earnings cial Performance Pre-Tax Income (i itions) (i hitions) 340 wa waa $40 we aE 35 35 a $27, § $30 $30 m5 Es ee 925 925 32 920 920 WS 1s +a os +a 10 47 so 44 305 $7 gos +4 * & $0.5) $0.5) 1.0) 901.0) OaFVIS GIFY20 GaFY20 GaFY20 GaFY20 QiFY2I OaFVIS GIFY20 GaFY20 G3FY20 Ga
Slide 7: Financial Ratios
Financial Ratios Net Interest Margin Efficiency Ratio 100.00% 400% 7 [5 c5q, 384% «3.59%. sag 20 35% 2.95% 2.84% 90.00% {J 3.00% [7] 80.00% +7 2.00% +7 67.95% 68.78% 7000% 1.00% 77] 60.00% cox 50.00% Seve Taran Toure "aan Tame "orn Garis GIFY20 Gara GaFYZ0 GaFY20” GAFYZI Return on Average Assets Ret
Slide 8: Balances and Activity
Balances and Activity Developments > Loans Held for Investment balance decreases by approximately 2% from June 30, 2020 > Yield on Loans Held for Investment decreases 29 basis points from September 30, 2019 > Total Deposits balance increases by approximately 996 from September 30, 2019 > Deposit cos
Slide 9: Loans Held for Investment Composition
Balances and Activi Loans Held for Investment Composition Loan Category Balance 25 Interest Balance as Interest (Dollars in Thousands) of 093020 Rate of 93G0/19 Fate Single-Farsy 3 738700 390% $328,392 4.3056 Mult-Fatiy 482,900 4.19% 479.507 4.9096 Corrrrercial Real Estate 105.207 4.87% snoesz 6.00%
Slide 10: Deposits and Borrowings
Balances and Activity Deposits and Borrowings Deposit Composition (Contransaction accounts aime Deposits oBorowings] Deposit Composition at 09/30/20 Checking Aosaunts- Naw IpferestBearing ‘checking Accounts Interest- Bearing aSaungs Accourts Money Market Accounts Time Deposits 33% Category Wollersin
Slide 11: Asset Quality
Asset Quality NPA, NPA to Total Assets Ratio and ALLL to LHI Ratio Developments > Low level of Non-Performing Assets > Non-Performing Assets to Total Assets Ratio of 0.38960n September 30, 2020 > Provision for Loan Losses declines to $220,000 > NoREO > Early-Stage Delinquencies remain at low levels
Slide 12: Allowance for Loan Losses
Asset Qual Allowance for Loan Losses (ALLL) ALLL Allocation as of 09/30/20 (tn Thousands) m0%. 01% 810900 30% spi $0285 $9490 SSngieFaniy 800 |-Tyae yas wan Mutiny i3Commercial Real Estate $6000 s2Constucton other sapo0 «2Commerca Business sxConsumer $2000 . casos osKenS 12619 0s6120 "osGo720 "e800
Slide 13: Asset Quality: Geographic Location
Asset Quality GeographicLocation bland Empire Southern Calfomia' other Calfomia, Other states Total Categen Balance Peroentage Balance Percentage Galanos Percentage Galanos Percentage Galanos Percentage Single Family S 70% 27% -B131BI94sE SFOS ee TOS T8R7O0 toOe Muti Famiy eam 14% area, cores ate we
Slide 14: Asset Quality: Loans by Type and Forbearance
Asset Quali Single-Family (1)—Loans Held for Investment Multi-Family - Loans Held for Investment [am ta @ owas] nay wee] wee [tes [me] ur] er em sc pes ram [rao rece [ox [amas [rar [rer [rr [rosa farstctog trv? | stn |x | a | et | cm | cos |e | cox | eos | crs ee flee [ee |e [vee [are [vee | en | am
Slide 15: Capital Management
Capital Management > Bark Capital Ratios remain strong > 4,7196cash dividend yield (approximately) Developments > No stock repurchased in the first quarter of fiscal 2021 Bank Capital Ratios Stock Repurchase Plan Activity (fof shares) 46,758 0,000 40,000 30,000 20,000 10,000 Garis @IFY20 " GaFY20 "
Provident Financial Holdings — Q1 FY2021 Earnings Presentation on 6ix