Provident Financial Holdings ( (PROV) ) has released its Q3 earnings. Here is a breakdown of the information Provident Financial Holdings presented to its investors.
Provident Financial Holdings, Inc., a holding company for Provident Savings Bank, operates primarily in the banking sector, offering a range of financial services including loans, deposits, and investment products in Riverside and San Bernardino counties.
In its third-quarter fiscal 2025 earnings report, Provident Financial Holdings announced a net income of $1.86 million, marking a significant 113% increase from the previous quarter and a 24% rise compared to the same period last year. The company also reported improvements in its net interest margin and a reduction in non-performing assets.
Key financial highlights include a net interest margin of 3.02%, up from 2.74% a year ago, and loans held for investment reaching $1.06 billion. The company’s total deposits grew to $901.3 million, while non-performing assets decreased significantly to 0.11% of total assets. Provident also reported a recovery of credit losses amounting to $391,000, contributing to the improved financial performance.
Despite a 14% decrease in net income over the nine months ending March 31, 2025, compared to the previous year, the company maintained a stable dividend payout and continued its stock repurchase plan. The increase in non-interest expenses, primarily due to higher salaries and litigation costs, was offset by gains in net interest income and credit loss recoveries.
Looking ahead, Provident Financial Holdings remains optimistic about its financial health, with management highlighting ongoing improvements in the operating environment, steady growth in loan and deposit balances, and strong credit quality as key factors supporting future performance.