Provident Financial Holdings, Inc. · NASDAQ:PROV
Provident Financial — Q2 FY2021 Earnings Presentation
15 slides from Provident Financial's earnings presentation, Jan 28, 2021
Slide 1: Second Quarter of Fiscal 2021
PROVIDENTif& Provident Financial Holdings, Inc. Second Quarter of Fiscal 2021 December 31, 2020 provizen 7a Si www.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: $15.71 52-Week Range: $11.40 - $22.84 Shares Outstanding: 7,442,254 shares Market Capitalization: $116.9 million P/E (ttm): 21.82x Diluted EPS (ttm): $0.72 Annual Dividend & Yield: $0.56 3.56%) As of December 31, 2020
Slide 4: Branch footprint in Riverside County
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: Net Interest Income
cial Performa e Developments Net Interest Income (i itions) > Net Interest Income decreases approximately 7% (sequential 3100 Te quarter) 29 > Net Interest Margin decreases by 18 basis points (sequential wale * quarter) 303 382 > Non-Interest Income decreases by approximately 17% wo 4 (sequential qu
Slide 6: Financial Performance: Earnings
cial Performance Pre-Provision, Pre-Tax Earnings Pre-Tax Income (nMilions) nMlions) 340 cy cy 340 TS gas [+ $38 a $38 $30 ps oa $30 oi [4 [4 28 7 28 32 7 20 tq s20 tJ we ws ty ws tq sia tq sa tq sas tq sos] % 305) 305) 94.9) 5.0) GIFVan Garvan G3FY20 GAFY20. <GIFY21 G2FV21 Girvan G2FY20 @3FY20. GaFV
Slide 7: Financial Ratios
Financial Ratios Net Interest Margin Efficiency Ratio 4.00% Taam pom 100.00% 0 00% 300% 2031% 20 00% ok 67.95% 68.78% 7000% 1.00% 60.00% 000% 50.00% GtFY20 GaFY20 @3FY20” GMFY20 GIFY2I GaFYal cFY20 ” aary20 " aarY20 " aaFY20 " @IFYat” aFYZI Return on Average Assets Return on Average Equity 125% 100%
Slide 8: Balances and Activity
Balances and Activity Developments > Loans Held for Investment balance decreases by approximately 3% (sequential quarter) > Yield on Loans Held for Investment decreases 24 basis points from December 31, 2019 > Total Deposits balance increases by approximately 196 (sequential quarter) > Deposit costs
Slide 9: Balances and Activity: Loan Composition
Balances and Activi Loans Held for Investment Composition Loan Category Balance 25 Interest Balance as Interest (Dollars in Thousands) of 123120 Rate of 123119 __ Fate Single Farsy 3 257.864 3.83% $347,344 4.20% Muti Fatiy 498412 41696 479151 4.34% Corrrrercial Real Estate 102551 4.67% so7.e19 4.08%
Slide 10: Balances and Activity: Deposits and Borrowings
Balances and Activity Deposits and Borrowings Deposit Composition 31,200 1000 3800 3600 rion) 400 9200 0 cenone 12818 oaret20 o69020 oasORO 1211/20 rafsaction assounis aTine Deposis OBorewings Deposit Composition at 12/31/20 ‘Checking Accounts - Non Irterest-Beating ‘BChecking Accounts - Interest-Be
Slide 11: Asset Quality
Asset Quality NPA, NPA to Total Assets Ratio and ALLL to LHI Ratio Developments > Non-Performing Assets to Total Assets Ratio of 0.88960n December 31, 2020 > Provision for Loan Losses declines to $39,000 > NoREO > Early-Stage Delinquencies remain at low levels > Loans in Forbearance declined to $2.6
Slide 12: Asset Quality: Allowance for Loan Losses
Asset Qual Allowance for Loan Losses (ALLL) (in Thousands) 10,000 38,000 $6929 $6,921 36,000 34,000 $2,000 cerons 12819 s7810 98,285 98,490 cssi20 osrsa20 ” osrsar20 98.538 rersi20 Delinquent and Non-Performing Loans IDLER EAT Ta Fea Tso _Nonperiming FOE Day— _won-peromng (Oolwer MToursnay) —Loant _
Slide 13: Asset Quality: Geographic Location
Asset Quality GeographicLocation Inland Empire Southern California Other Calfomia Other states Tots Catega Balznee Peroentage Gslanoe Peroertage Galanos Percentage Galanos Peroenfage Balance Percentage Single Faily a a CC i a oe cL? Muti Famity cops 14% sigs a6 toast 0% wear 100% Commerial Real Este
Slide 14: Asset Quality: Loans Held for Investment
Asset Quali Single-Family (1°)—Loans Held for Investment Multi-Family — Loans Held for Investment Fr oe eS lecrasegin'® | cw |e | on | ow [ae | om | or | om | wor | ote ee [itm [ow or [ow | ow [om | or | ae | ae MBER ikomo| ee [tse fest | am | es | oe | oe | im fae | ox BS ele e ee pee fee |e fe | |
Slide 15: Capital Management
Capital Management Developments Stock Repurchase Plan Activity (of Shares) > Bank Capital Ratios remain strong ‘ay 00’ ltd > 3,56% cash dividend yield (approximately) > No stock repurchased in the second quarter of fiscal 2021 “2.000 30,000 20,000 10,000 GIFY20 | Gara” GaFY20 ” AF Y20 | GIFY21 ” @2F
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