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Provident Financial (PROV) Company Profile

Updated Dec 2, 2019
Provident Financial has the following business profile:
Company's Full Name:Provident Financial Holdings, Inc.
Short Name:Provident Financial
Trading Ticker Symbol:PROV
Primary Exchange:NASDAQ
Headquarter City/Country:California, CA
Primary Industry Sector:Finance
Seconday Sub-sector:Savings Institutions
Main Business Areas: Finance, Savings Institutions, Financial Services, Savings & Cooperative Banks
Dividend Payments:Dividend History

Market and Trading Information for Provident Financial

The following details were available for trading and market data about the stock of Provident Financial as of writing:
Current Share Price:$21.97
Previous Year's Closing Price:$15.5
Percentage Price Change (YTD):41.74%
Market Cap:$165.4 million
52-week Price Range:$14.67 - $22.43
Dividend Per Share:$0.56
EPS (TTM):0.67
Price-Earnings (Trailing):32.74
Price-Earnings (Forward):14.45

Company Profile and Business Description for Provident Financial

Provident Financial Holdings, Inc., incorporated on January 10, 1996, is the holding company of Provident Savings Bank, F.S.B. (the Bank). The Bank is a federally chartered stock savings bank. The Company operates through two segments: Provident Bank and Provident Bank Mortgage (PBM). The Bank's operations primarily consist of accepting deposits from customers within the communities surrounding the Bank's full service offices and investing those funds in single-family loans, multi-family loans, commercial real estate loans, construction loans, commercial business loans, consumer loans and other mortgage loans. PBM operations primarily consist of the origination, purchase and sale of mortgage loans secured by single-family residences. The Bank is a financial services company committed to serving consumers and small to mid-sized businesses in the Inland Empire region of Southern California.

The Bank offers business checking accounts, other business banking services and services loans for others. As of June 30 2016, the Bank operated 14 retail/business banking offices in Riverside County and San Bernardino County (commonly known as the Inland Empire). As of June 30 2016, PBM operated two wholesale loan production offices: one in Pleasanton and one in Rancho Cucamonga, California, and 14 retail loan production offices in Carlsbad, City of Industry, Elk Grove, Escondido, Glendora, Livermore, Rancho Cucamonga, Riverside, Roseville, Santa Barbara and Westlake Village, California.

Lending Activities

The Bank's lending activity consists of the origination of first mortgage loans secured by single-family residential properties to be held for sale and to be held for investment. As of June 30, 2016, the Bank's net loans held for investment were $840.0 million. The Bank's predominant lending activity is the origination by PBM of loans secured by first mortgages on owner-occupied, single-family (one to four units) residences in the communities where the Bank has established full service branches and loan production offices. As of June 30, 2016, total single-family loans held for investment were $324.5 million. As of June 30, 2016, home equity loans amounted to $9.9 million.

As of June 30, 2016, multi-family mortgage loans were $415.6 million and commercial real estate loans were $99.5 million. The Bank originates short-term construction loans and construction/permanent loans. As of June 30, 2016, the Bank had $14.7 million of construction loans. As of June 30, 2016, commercial business loans were $0.64 million. As of June 30, 2016, the Bank's consumer loans were $0.2 million.

Investment Activities

The Bank invests in various types of liquid assets, including the United States Treasury obligations, securities of various federal agencies and government sponsored enterprises and of state and municipal governments, deposits at the Federal Home Loan Bank (FHLB), certificates of deposit of federally insured institutions, certain bankers' acceptances, mortgage-backed securities and federal funds. As of June 30, 2016, the Bank's investment securities portfolio amounted to $51.5 million. The Bank's investment securities portfolio is classified as held to maturity and available for sale.

Sources of Funds

Deposits, the proceeds from loan sales and loan repayments are the primary sources of the Bank's funds for lending and other investment purposes. Deposits are attracted from within the Bank's market area by offering a selection of deposit instruments, including checking, savings, money market and time deposits. The Bank generally offers time deposits for terms not exceeding seven years. As of June 30, 2016, the Bank's total deposits were $926.4 million.

3756 Central Ave

Peer / Competitor Companies of Savings Institutions Sector

Along with Provident Financial Holdings, Inc., the following other peer (competitor) companies also exist within the same Savings Institutions - Finance sector whose company profile and dividend history is as follows:

▶ 1st Constitution Bancorp NJ (FCCY): 1st Constitution Bancorp operates as the bank holding company for 1st Constitution Bank that provides commercial and retail banking services in the central and northeastern New Jersey areas. The compa....See Detailed Company Profile  and Dividend History.

▶ Access National (ANCX): Access National Corporation, incorporated on May 12, 2003, is a bank holding company. The Company operates through its subsidiary, Access National Bank (the Bank). The Bank provides credit, deposit, mortgage ....See Detailed Company Profile  and Dividend History.

▶ ASB Bancorp (ASBB): ASB Bancorp, Inc., incorporated on May 12, 2011, is the holding company for Asheville Savings Bank (the Bank). The Companys principal business activity is the ownership of the outstanding shares ....See Detailed Company Profile  and Dividend History.

▶ Astoria Financial (AF): Astoria Financial Corporation, incorporated on June 14, 1993, is a unitary savings and loan holding company. The Companys principal business is the operation of its subsidiary, Astoria Bank. Astoria Banks ....See Detailed Company Profile  and Dividend History.

▶ Atlantic Coast Financial (ACFC): Atlantic Coast Financial Corporation, incorporated on June 22, 2007, is a thrift holding company. The Company, through its subsidiary, Atlantic Coast Bank (the Bank), a federally chartered and insured stock ....See Detailed Company Profile  and Dividend History.

▶ Bancorp 34 (BCTF): Bancorp 34, Inc. operates as the holding company for Bank 34 that offers various banking services to individuals and businesses in the United States. It accepts various deposit products, such as savin....See Detailed Company Profile  and Dividend History.

▶ Bank Mutual (BKMU): Bank Mutual Corporation, incorporated on April 28, 2003, is a savings and loan holding company. The Company owns Bank Mutual (the Bank), a federally-chartered savings bank. The Bank is engaged ....See Detailed Company Profile  and Dividend History.

▶ BankFinancial (BFIN): BankFinancial Corporation, incorporated on September 23, 2004, is the bank holding company for BankFinancial, National Association (the Bank). The Bank is a full-service, community-oriented national bank principally engaged in the ....See Detailed Company Profile  and Dividend History.

▶ BankUnited (BKU): BankUnited, Inc. operates as the bank holding company for BankUnited, National Association that provides a range of banking services to small and medium sized businesses, and individual and corporate ....See Detailed Company Profile  and Dividend History.

▶ BCB Bancorp NJ (BCBP): BCB Bancorp, Inc. operates as the holding company for BCB Community Bank, a state chartered commercial bank that provides banking products and services to businesses and individuals in the United Stat....See Detailed Company Profile  and Dividend History.

▶ Beneficial Bancorp (BNCL): Beneficial Bancorp, Inc., together with its subsidiaries, provides consumer and commercial banking services to individuals, businesses, and nonprofit organizations in Philadelphia and Southern New Jer....See Detailed Company Profile  and Dividend History.

▶ BofI Holding (BOFI): BofI Holding, Inc. (BofI), incorporated on July 6, 1999, is the holding company for BofI Federal Bank (the Bank). The Bank is a diversified financial services company. The Bank provides ....See Detailed Company Profile  and Dividend History.

▶ BofI Holding (BOFIL): BofI Holding, Inc. (BofI), incorporated on July 6, 1999, is the holding company for BofI Federal Bank (the Bank). The Bank is a diversified financial services company. The Bank provides ....See Detailed Company Profile  and Dividend History.

▶ Broadway Financial (BYFC): Broadway Financial Corporation, incorporated on October 25, 1995, is a savings and loan holding company. The Company is engaged in the savings and loan business through its subsidiary, Broadway Federal ....See Detailed Company Profile  and Dividend History.

▶ Brookline Bancorp (BRKL): Brookline Bancorp, Inc., incorporated on April 11, 2002, operates as a multi-bank holding company for Brookline Bank and its subsidiaries; Bank Rhode Island (BankRI) and its subsidiaries; First Ipswich Bank ....See Detailed Company Profile  and Dividend History.

▶ Capitol Federal Financial (CFFN): Capitol Federal Financial, Inc., incorporated on April 28, 2010, is the savings and loan holding company. The Company provides a range of retail banking services, through its subsidiary, Capitol Federal ....See Detailed Company Profile  and Dividend History.

▶ Carver Bancorp (CARV): Carver Bancorp, Inc. operates as a holding company for Carver Federal Savings Bank, a federally chartered savings bank that provides consumer and commercial banking services for consumers, businesses,....See Detailed Company Profile  and Dividend History.

▶ Central Federal (CFBK): Central Federal Corporation operates as the bank holding company for CFBank that provides various financial services in the United States. The company accepts savings, retail and business checking, an....See Detailed Company Profile  and Dividend History.

▶ Charter Financial (CHFN): Charter Financial Corporation, incorporated on February 16, 1993, is a savings and loan holding company for CharterBank (the Bank). The Bank is a federally-chartered savings bank. The Banks principal business ....See Detailed Company Profile  and Dividend History.

▶ Citizens Community Bancorp (CZWI): Citizens Community Bancorp, Inc., incorporated on June 27, 2006, is a bank holding company of Citizens Community Federal N.A. (the Bank). The Company is engaged in consumer, commercial and agricultural ....See Detailed Company Profile  and Dividend History.

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