Provident Financial Holdings, Inc. · NASDAQ:PROV
Provident Financial — Q3 FY2024 Earnings Presentation
15 slides from Provident Financial's earnings presentation, Apr 29, 2024
Slide 1: Third Quarter of Fiscal 2024
PROVIDENT fh Provident Financial Holdings, Inc. Third Quarter of Fiscal 2024 March 31, 2024 provizenTsa Sw. myprovident.com
Slide 2: Safe Harbor Statement
Safe Harbor Statemen This presentation contains statements that the Company believes are “forward-looking statements" within the meaning of the Private Securties Litigation Reform Act of 1995. These statements relate to the Company's financial condition, liquidity, results of operations, plans, obje
Slide 3: Market Highlights
Market Highlights Provident Financial Holdings, Inc. Nasdaq GS: PROV Share Price: $13.38 52-Week Range: $10.16 - $15.40 Shares Outstanding: 6,896,297 shares Market Capitalization: $92.3 million P/E (ttm): 12.99x Diluted EPS (ttm): $1.03 Annual Dividend & Yield: $0.56 (4.19%) As of March 31, 2024 PRO
Slide 4: Branch Locations and Market Position
Blythe Canyon Crest, Riverside Corona Corporate Office, Riverside Downtown, Riverside Hemet La Sierra, Riverside Morena Valley Orangecrest, Riverside Rancho Mirage Redlands Sun City Temecula SBP Cot hee pe Apt ceed. eg 7012 Meso Cone, 10 HERE > Largest independent community bank > Expanding customer
Slide 5: Financial Performance
Financial Performance Developments Net Interest Income » Net Income decreased approximately 30% (sequential & Lape hicd quarter) 04 504 23 saa » Pre-Provision, Pre-Tax Income decreased approximately 3% 4 bcd (sequential quarter) $20, bd > Net InterestMargin decreased four basis points to 2.74% LI (s
Slide 6: Financial Performance
cial Performa e Pre-Provision, Pre-Tax Income Pre-Tax Income (tions) (tions) 40 950 85 3s ws to 2a 330 si $30 [7 534 3, ae $28 $3.0 ast [4 GH $30 $25 320 77 $24 ast vot so be wot ws [4 $ & oarvas aarv23 GaF23” GHFY24 GaFY24” oaFY24 carves " aarv2s "Garza" ciFY24” aarva4 " aarv24 Quarterly Net Income
Slide 7: Financial Ratios
Financial Ratios Net Interest Margin Efficiency Ratio 400% 20.00% oe Tet% — 7820% 350% PB 305% 300% 285% 287% ree aya 7500% 3.00% TT] 69.32% cB 7000% 280% Levan 559% 2.00% 7] 65.00% 7] 1.50% 77] 000% + 1.00% 7] s500% + 0.50% 7 00% 50.00% carves" GaFY23 "GAPE" GIFY2A” GaFY4 ” GOFY24 carves GGrYES GAF
Slide 8: Balances and Activity
Balances and Activity Developments Loan to Investment Mix > Loans Held for Investment balance decreased 1400 approximately 196 and the yield increased 10 basis points at March 31, 2024 (sequential querter) > Total Deposits balance decreased less than 196 and the $1,000 cost increased eight basis poi
Slide 9: Balances and Activity
Balances and Activi Loans Held for Investment Composition Loan Composition as of 03/31/24 Other hernia Simones ae! GFeeose imsec! constuction Oe oltarstn Thousand) qossizd "Rate ofoaoizo Rate oe Commercial Business ‘SingleF amil $817,089 4.30% $512,892 4.02% ea oraoranly sngler amily. Commercial Rea
Slide 10: Balances and Activity
Balances and Activity Deposit Composition Deposits and Borrowings 1,200 1,000 3800 3600 400 $200 0 1278122. 09981228 09023 OSRORS 121/23 OSreI/24 Transaction Assounis Tine Deposts GBonewings: Deposit Composition at 03/31/24 10% Category (Dollars in Thousands) ALcsistiz02i Rate ALOGS1/2003 Rate Check
Slide 11: Asset Quality
Asset Quality Developments NPA, NPA to Total Assets Ratio and ACL to LHI Ratio 2400 120% > Non-Performing Assets to Total Assets Ratio increased to 92,200 0.1796 at March 31, 2024 from 0.13% at December 31, $2,000 1.00% 2023 (sequential quarter) 1 300 p00 090% > $124,000 Provision for Credit Losses
Slide 12: Asset Quality
Asset Qual Allowance for Credit Losses (ACL) ACL Allocation as of 03/31/24 (in Thousands) BD 1% mo%, 0% 10900 1% 20% 25% s7679 $8000 Ze Ee sSige Fen cit Fay $5690 99001 95.948 nn sso mercial Real Estate jConstcton ther $4,000 OCommercial Business: Consumer $2000 20% Tate oam123 8603 “ose 126123 eaKt
Slide 13: Asset Quality
Asset Quality GeographicLocation ind Empire _ _Southern California" __ other California Other tater Total Caeaon Basnce Pecenimne Balance Pacentage Bianca Prcentaye fiance Percenime Baance Percert=ne! Single Family Sims 28% S17ass4 SAK SHORSIZ KS 2] Om SITES TOON Muti Faity Cn a a od ow estan 100% C
Slide 14: Asset Quality
Asset Quali Single-Family (1*) Loans Held for Investment Multi-Family — Loans Held for Investment Tarmac Groen] mae [roar] Rie] wae |pons fei aelmmRa] wa.si] S96 [ete] Gevdame @ Nowam | muse [vam [este [ere [ota [mee [wees [wees | wae [eer ot tetteai iv" ex fam [er | ses [sm | om | am | max | cas |
Slide 15: Capital Management
Capital Management Developments Stock Repurchase Plan Activity (ot Shares) > Strong Capital Ratios 125,000 > 4.19% cash dividend yield (approximately) > Purchased approximately 50,000 shares of common stock in the third quarter of fiscal 2024 G2FY23 ” GGFY23” GAFY23 ” GIFY24” G2FY24 ” GaFY24 Bank Ca
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