Provident Financial Holdings, Inc. · NASDAQ:PROV
Provident Financial — Q1 FY2024 Earnings Presentation
15 slides from Provident Financial's earnings presentation, Oct 25, 2023
Slide 1: First Quarter of Fiscal 2024
PROVIDENT fh Provident Financial Holdings, Inc. First Quarter of Fiscal 2024 September 30, 2023 provizenTsa Sw. myprovident.com
Slide 2: Safe Harbor Statement
Safe Harbor Stateme This presentation release contains statements that the Company believes ate “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, plan
Slide 3: Market Highlights
Market Highlights Provident Financial Holdings, Inc. Nasdaq GS: PROV Share Price: $13.09 52-Week Range: $11.61 - $15.18 Shares Outstanding: 7,007,058 shares Market Capitalization: $91.7 million PIE (ttm): 11.28x Diluted EPS (ttm): $1.16 Annual Dividend & Yield: $0.56 (4.28%) As of September 30, 2023
Slide 4: Branch network in Riverside County
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 Performa e Developments Net Interest Income > Net Income decreased approximately 3% (sequential quarter) woe > Net InterestMargin unchanged at 2.88% (sequential quarter) sao a > Net Interest Income decreased approximately 1% (sequential $9.0 = quarter) > Non-Interest Income decreased appro
Slide 6: Financial Performance: Pre-Tax Income, Net Income and EPS
cial Performa e Pre-Provision, Pre-Tax Income Pre-Tax Income tions) (i itions) 40 as 950 ws +R $30 $30 i wot + BE $34 953 $25 TT 25: $28 $30 vot 925 ast s20 so + so ws +4 $ $- QaFY22 GIFY2S § G2FV23 GSFY23 QAFY23 GIFY24 QAFY22" GIFV23 G2FV23” GaFY23 | QaFY23 "GIF Y24 Quarterly Net Income Diluted Ear
Slide 7: Financial Ratios
Financial Ratios Net Interest Margin Efficiency Ratio 4.00% 80.00% 7837% 380% 2.93% 3.05% 3.05% 3.00% 2.88% 2.88% 75.00% 2.00% 6969% £9:32% 70.00% 2.50% [7] 86.69% pase 85.74% 2.00% TT 65.00% 1.50% 77] 60.00% 1.00% FT 550% 0.50% FT 00% so00% + eave GiFY23 GoFYE3 GaFYZS GaFY23 GIFY24 GaFv22" GIFY23 G
Slide 8: Balances and Activity
Balances and Activity Developments > Loans Held for Investment balance decreased approximately 196 (Sequential quarter) > Yield on Loans Held for Investment increased 14 basis points from June 30, 2023 > Total Deposits balance decreased by approximately 296 (sequential quarter) > Deposit costs incre
Slide 9: Balances and Activity: Loans Held for Investment Composition
Balances and Activi Loans Held for Investment Composition Loan Category Balance as Interest Balaneeas Interest ollars in Thousands) of 093023 Rate of 09/3022 Rate Single-Family 3 521876 424% § 420.875 386% Muti-Famiy 457361 4.88% 4eg081 48% Commercial Real Estate 27.054 5.06% 29320 4.80% constructio
Slide 10: Balances and Activity: Deposits and Borrowings
Balances and Activity Deposits and Borrowings Deposit Composition Category Wollersin Thousands) AtONs02009 Rate AtO9GORNZ2 Rate Checking Accourts-Non terestfesrng $§ 105944 -% 9 125018 -% eicetmimeren inert 280743 004% 398861 004% Savings Accounis 215118 009% 395075 005% pearsesiiacons 31722 036% 42
Slide 11: Asset Quality
Asset Quality Developments NPA, NPA to Total Assets Ratio and ACL to LHI Ratio > Non-Performing Assets to Total Assets Ratio unchanged a Ta at 0.10% from June 30, 2023 ‘ si 00 080% > CECL implementation on July 1, 2023 resulting in $1.2 g sao mmllion increase in the Allowance for Credit Losses § sta
Slide 12: Asset Quality: Allowance for Credit Losses
Asset Qual Allowance for Credit Losses (ACL) ACL Allocation as of 09/30/23 (in Thousands) 10,000 7679 [esinge Family] 38,000 lamuit-Famity $5,564 95638 95,600 $6001 $5,946 la commercial Real Estate| 36,000 laConstruction lmother la Commercial Business sme |aConsumer 32,000 osron2 08022 128122 oae123
Slide 13: Asset Quality: Geographic Location
Asset Quality GeographicLocation Southam California” Hand Enpire ther California Ciher states Total extagen Basnce Feroantaye Galanos Percentage Basnce feromntaye Gdance Parcentage Bases Perentage: Single-Family Stam 20% «STEMS SINS HSGESR 37K SUB COwS IETS 100 Mut Famity e113 meres 0% RTBIS 28 ow a
Slide 14: Asset Quality: Loans Held for Investment
Asset Qualit Single-Family (1*) Loans Held for Investment Multi-Family —Loans Held for Investment faa tancr @Travaayt See [ee fon See RSENS RT oem ee] [emusme tmemee reves ere leaner sien [esa [ear [ee [orem [ean [rere beanies | ‘ws [cer [om | er |as |'an [ex | | ve [ar | peommace [er |r [or | ae |
Slide 15: Capital Management
Capital Management Developments > Strong Capital Ratios > $7.0 million cash dividend from the Bank to the Company > 4.28% cash dividend yield (approximately) > Purchased approximately 36,000 shares of common stock in the first quarter of fiscal 2024 Bank Capital Ratios (Hot Shares) 125,000 100,000 7
Provident Financial Holdings — Q1 FY2024 Earnings Presentation on 6ix