Provident Financial net income falls 28% to $1.57 million
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Key points
- Provident Financial Holdings (NASDAQ:PROV) reported fiscal first-quarter 2027 net income of $1.57 million, down 28% sequentially and 6% year over year.
- Net interest income rose 9% year over year to $9.77 million, while net interest margin increased to 3.32% from 3%.
- The company recorded a $777,000 provision for credit losses, while deposits declined 1% to $897.7 million and classified assets increased to $4.1 million.
Provident Financial Holdings (NASDAQ:PROV) reported fiscal first-quarter 2027 net income of $1.57 million, down 28% sequentially and 6% year over year.
Diluted earnings per share were $0.25, compared with $0.35 in the preceding quarter and $0.25 in the same quarter last year.
Net interest income increased 9% year over year to $9.77 million, while net interest margin rose to 3.32% from 3%.
The company recorded a $777,000 provision for credit losses, replacing credit-loss recoveries reported in both comparison quarters.
At September 30, 2026, loans held for investment totaled $1.04 billion, deposits declined 1% to $897.7 million, and classified assets increased to $4.1 million from $2.5 million.
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