Provident Financial Q2 FY2024 net income $2.14M ($0.31/diluted), down 10% YoY; NIM 2.78%

PROVIDENT FINANCIAL HOLDINGS INC

2024-Q2 EPS reported $0.56

Net income $2.14M ($0.31/diluted) down 10% from $2.37M ($0.33) YoY.
Net interest margin 2.78% (down 27 bps from 3.05% YoY); net interest income $8.77M down 7%.
Loans held for investment $1.08B essentially flat; total deposits $912M down 4% from June 30, 2023.
Non-performing assets/total assets ratio 0.13%; allowance for credit losses $7.0M (0.65% of loans) under CECL.
Recovery of credit losses $720K in quarter vs. $191K provision YoY; sequential net income up 22% from Q1 FY2024.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PROVIDENT FINANCIAL HOLDINGS INC reported the second quarter of the fiscal year ending June 30, 2024 results: net income $2.14 million, EPS $0.31 per diluted share.

Period: the second quarter of the fiscal year ending June 30, 2024
Net income: $2.14 million
EPS: $0.31 per diluted share
Result: reported results

Exact text from the filing

On January 29, 2024, Provident Financial Holdings, Inc. ( “ Corporation ” ), the holding company for Provident Savings Bank, F.S.B., distributed its financial results for the quarter ended December 31, 2023. A copy of the news release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

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Source: SEC EDGAR

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