Provident Financial Q1 net income down 16% to $1.76M; EPS $0.25 vs $0.29 YoY

PROVIDENT FINANCIAL HOLDINGS INC

2024-Q1 EPS reported $0.25

Net income $1.76M ($0.25 diluted EPS) vs $2.09M ($0.29) a year ago, down 16% YoY.
Net interest margin unchanged at 2.88%; net interest income up 2% to $9.14M.
Loans held for investment $1.07B (-1% sequential); total deposits $931.1M (-2% sequential).
Provision for credit losses increased to $545K from $70K YoY after CECL adoption.
Board authorized new stock repurchase plan for 350,353 shares, expiring September 2024.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

PROVIDENT FINANCIAL HOLDINGS INC reported first quarter of the fiscal year ending June 30, 2024 results: revenue $9.14 million, net income $1.76 million, EPS $0.25 per diluted share.

Period: first quarter of the fiscal year ending June 30, 2024
Revenue: $9.14 million
Net income: $1.76 million
EPS: $0.25 per diluted share
Result: reported results

Exact text from the filing

5.40 percent, compared to 5.52 percent for the fourth quarter of fiscal 2023. In the first quarter of fiscal 2024, net interest income increased $174,000, or two percent, to $9.14 million from $8.97 million for the same quarter last year. The increase in net interest income was primarily due to a higher average balance of interest-earning assets, partly offset by

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Source: SEC EDGAR

accession 0000939057-23-000308

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