Provident Financial Holdings, Inc. · NASDAQ:PROV
Provident Financial — Q4 FY2023 Earnings Presentation
15 slides from Provident Financial's earnings presentation, Jul 26, 2023
Slide 1: Fourth Quarter of Fiscal 2023
PROVIDENT fh Provident Financial Holdings, Inc. Fourth Quarter of Fiscal 2023 June 30, 2023 Www.myprovident.com
Slide 2: Safe Harbor Statement
Safe Harbor Stateme This presentation release contains statements that the Company believes are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to the Company's financial condition, liquidity, results of operations, pla
Slide 3: Market Highlights
Market Highlights Provident Financial Holdings, Inc. Nasdaq GS: PROV Share Price: $12.15 52-Week Range: $11.61 - $15.18 Shares Outstanding: 7,043,170 shares Market Capitalization: $89.8 million P/E (ttm): 10.71x Diluted EPS (ttm): $1.19 Annual Dividend & Yield: $0.56 (4.39%) As of June 30, 2023 prow
Slide 4: Blythe
Blythe Canyon Crest, Riverside Corona, Corporate Office, Riverside Downtown, Riverside Hemet La Sierra, Riverside Moreno Valley Orangecrest, Riverside Rancho Mirage Redlands Sun City Temecula _ eo i. SBP Cot hee pe Apt ceed. eg 7012 Meso Cone, 10 HERE > Largest independent community bank Expanding c
Slide 5: Financial Performance
Financial Performa e Developments Net Interest Income ‘ In ions > Net Income decreased approximately 22% (sequential Pee quarter) 4 84 > Net Interest Margin decreased 12 basis points to 2.88% seo 320 (Sequential quarter) 385 > Net Interest Income decreased approximately 2% (sequential eae quarter) 3
Slide 6: Financial Performance
Financial Performance Pre-Provision, Pre-Tax Income Pre-Tax Income (tn tiions) (i iions) s4o $50 so2 35 $38 ss 20 28 ea ae soo 4 gag $30 $28 ae $3.0 sis 324) s20 $1.5 TT $20 77] sia to sia +4 sos + s s asry22 " asFv22 ” atry2a ” azry23 | Garza" asFY22 asry22 " asry22 ” airvz3 ” a2rvz3 " aaFyz3 ” aaF
Slide 7: Financial Ratios
Financial Ratios Net Interest Margin Efficiency Ratio 4.00% 25.00% ra70% 50% 2.93% 3.05% 3.05% 3.00% 2.88% ‘Sn.00% Soe. 261% 75.00% +] 2.50% TT] 70.00% 4] 2.00% 7] 65.00% tT] 1.50% 77] 60.00% 7] 1.00% 7] | wae Lt s5.00% o.00% 50.00% carver asFv22” GiFv23” a2FY23” aaFY23 ” asFY23 carva2 " aarv22” arF
Slide 8: Balances and Activity
Balances and Activity Developments > Loans Held for Investment balance remained virtually unchanged (sequential quarter) > Yield on Loans Held for Investment increased 13 basis points from March 31, 2023 > Total Deposits balance decreased by approximately 3% (sequential quarter) > Deposit costs incr
Slide 9: Balances and Activity
Balances and Activi Loans Held for Investment Composition Loan Composition as of 06/30/23 eas Seen ca tere cise! ih [eevee ‘of06n023 Rate of 06700722 Rate om Single-Family $518,821 412% § 378,234 3.34% Conetrucian Commerce Bunees, Mut-Famiy 401119 470% 404878 4.08% Commercial RealEstate consumer [aS
Slide 10: Balances and Activity
Balances and Activity Deposits and Borrowings Deposit Composition Category Dotlarsin Thousands) AtO602023 fate _Atoeaorz022 Rate Checking Accounts-Non nterestearng $ 102008 -% $ 125059 -% fers rer sete Py 302872 008% 5,788 004% Savings Acoounis 290204 005% 333581 005% Pere years S551 02% 99887 017%
Slide 11: Asset Quality
Asset Quality Developments > Non-Performing Assets to Total Assets Ratio increased slightly to 0.10% from 0.07% at March 31, 2023 > $56,000 Recovery from the Allowance for Loan Losses > No REO > Early-Stage Delinquencies remain at very low levels (Recovery ) Provision for Loan Losses (in Thousands)
Slide 12: Asset Quality
Asset Qualit Allowance for Loan Losses (ALLL) ALLLAllocation as of 06/30/23 (n Thousands) ox? 200% $8,000 30%. 0% $5,969 $5,564 $5,635 $5,830 $6,001 $5,946 [@ Single-Family $6,000 anutitamty J2commercia Real Estate Jaconsnucton 000 nother JB.Commercia Business ImConsumer 2,000 oas1/22 "06022 09022 1
Slide 13: Asset Quality
Asset Quality Geographic Location landEnpie —__souern Catone ‘ner sates Since en Babee Pens Sroeromy 8 NSO am tTAaR Smo Sie on ara eer2 te ames ee Conmecifeslesue 18ae neha - om sess a hue ae om 1508008 Ofer - om ‘8 stom - om 80% a Te ee (Other than Inland Empire. Geographic Location 06/30/23 (0 the
Slide 14: Asset Quality
Asset Quali Single-Family (1°) —Loans Held for Investment Multi-Family ~ Loans Held for Investment Sa ES ee ee Se SS SE Sa SSS SSS TS fee roo) ra ae | rn fona firme | mr fame |e [nme foam | fromsnecmrens | toe [aur fmf kot Jer | aan Por for | oat | oar —— ve rae, om m7 7 a om a oa mr 7 = ae a Commer
Slide 15: Capital Management
Capital Management Developments Stock Repurchase Plan Activity veo) Ron; fot Shares) > Strong Capital Ratios see > 4.39% cash dividend yield (approximately) 103,200 99.307 > Purchased approximately 51,000 shares of common 190,000 stock in the fourth quarter of fiscal 2023 75,000 50,000 25,000 7 Q3FY
Provident Financial Holdings — Q4 FY2023 Earnings Presentation on 6ix