Provident Financial reports Q3 EPS 22c vs. 33c last year

“In light of ongoing economic uncertainty and the persistence of elevated interest rates and the inverted yield curve in the U.S., we remain committed to exercising patience as we await a more favorable operating environment. This will enable us to gradually transition back to less restrictive operating strategies and resume growing our loan portfolio at a reasonable pace,” stated Donavon Ternes, President and CEO of the company. “During this interim period, our focus will be on prudently managing operating expenses, maintaining sound credit risk, interest risk and balance sheet management practices, while also executing our common stock repurchase program in line with the company’s business plan,” concluded Ternes.