Provident Financial Holdings, Inc. · NASDAQ:PROV
Provident Financial — Q2 FY2024 Earnings Presentation
15 slides from Provident Financial's earnings presentation, Jan 29, 2024
Slide 1: Provident Financial Holdings, Inc. Second Quarter of Fiscal 2024
PROVIDENT fh Provident Financial Holdings, Inc. Second Quarter of Fiscal 2024 December 31, 2023 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: $12.61 52-Week Range: $10.16 - $14.98 Shares Outstanding: 6,946 348 shares Market Capitalization: $87.6 million PIE (ttm): 10.97x Diluted EPS (ttm): $1.15 Annual Dividend & Yield: $0.56 (4.44%) As of December 31, 2023
Slide 4: Branch footprint 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
cial Performa e Developments Net Interest Income > Net Income increased approximately 22% (sequential quarter) ne > Net InterestMargin decreased 10 basis points to 2.78% sao ee goog (Sequential quarter) wot $38 > Net Interest Income decreased approximately 4% (sequential quarter) on. > Non-Interest
Slide 6: Financial Performance
cial Performance Pre-Provision, Pre-Tax Income Pre-Tax Income ition) ¢titions) s40 950 $35 $35 ws $30 2a 330 0 $3.0 77] bad $3.3 923 $30 28 #30 2s Le [4 s $3.0 5 vo +4 os 4 vo ty so fe so te wos +4 * & curves" caFvas " caFva3 | caFvz3 " ciFv24 ” aarv24 carves GaFv23 Gar Y23 GuFYa4 GaFY24 Quarterly N
Slide 7: Financial Ratios
Financial Ratios Net Interest Margin Efficiency Ratio 4.00% 80.00% 76.11% aso 7837% 305% 305% 3.00% 2.88% += 2.88% a 7am 75.00% 3.00% TT] (69.63% 69.32% Lt 70.00% ae 65.74% 85.69% 2.00% TT 65.00% 1.50% 7] 60.00% 1.00% 77] 550% 0.50% 7 00% so00% + GIVES GaFY23 GaY23 GAFYES GIFYo4 @2FY24 GtFv23 GaFv23
Slide 8: Balances and Activity
Balances and Activity Loan to Investment Mix Developments > Loans Held for Investment balance virtually unchanged (sequential quarter) > Yield on Loans Held for Investment increased 13 b. points from September 30, 2023 > Total Deposits balance decreased by approximately 2% (sequential quarter) > Dep
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 120123 Rate of 12/3122 Rate Single-Family 3 521.044 452% © § 478,730 382% Muti-Famiy 458.502 5.00% 495.260 4.33% Commercial Real Estate 28,640 6.20% 28,200 5.08% con
Slide 10: Balances and Activity: Deposits and Borrowings
Balances and Activity Deposits and Borrowings Deposit Composition 1200 Saoemanmana ee ee e190 Cheskg Accours-Non ierertBeamrg 9 eam «m5 RTT Serica eee Zest oom si.ts2 008s sc00 savings Ascounts ZenTe 018% i909. O06 2 ie ccans oer os% 39807 020% Beans) Time Deposits 254300 3.76% 143.503 1.10% : Totat
Slide 11: Asset Quality
Asset Quality Developments > Non-Performing Assets to Total Assets Ratio increased to 0.13% from 0.10% at September 30, 2023 > $720,000 Recovery of Credit Losses in the quarter ended December 31, 2023 » NoREO. > Early-Stage Delinquencies remain at very low levels (Recovery of ) Provision for Credit
Slide 12: Asset Quality
Asset Qual Allowance for Credit Losses (ACL) (in Thousands) 10,000 s7879 8,000 $5638 $5,830 36,000 34,000 $2,000 osrs0r2 36001 95,948 Terin2 nsm12s A608 O9°8023 97,000 Pore) Delinquent and Non-Performing Loans Fee Fogo ETAL ACL Allocation as of 12/31/23 1% 0%, 2 0% 0% 11% 59% eSgTeF amy ‘eMut-Family
Slide 13: Asset Quality: Geographic Location
Asset Quality GeographicLocation Inland Empire Southem Caiforia' __cther Calfornia Cher states Total Cstegon Bince Percentage Bane Perstaye Gslnce Paces Baance Reromizne Galnce peroetane Single-Family Ce) uti amily coat 13% 2eroa tn 2 ow aeea02 400% Commercial RealEstate 16250 17% wea 5A me 2 ow sse
Slide 14: Asset Quality
Asset Qualit Single-Family (1*) Loans Held for Investment Multi-Family —Loans Held for Investment ica tam pina] emer | we [eran] wre] sro] pean pecomiena eacane] [eters _[ emer [ova [esata ocos [ees Jnwes [Po aos [rar Leoragtnr | ast [sat eel ew [as ee [ese fae ase) moms few ca [ewan [aw [on [ew [a0
Slide 15: Capital Management
Capital Management Developments Stock Repurchase Plan Activity (# ofshares) > Strong Capital Ratios t500 > 4.4496 cash dividend yield (aoproximately) 4105280 5. s07 > Purchased approximately 63,000 shares of common ‘90,000 stock in the second quarter of fiscal 2024 75000 50,000 25000 ” “qirv23 G2FY2
Provident Financial Holdings — Q2 FY2024 Earnings Presentation on 6ix