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PROV-News
PROV-Events
Provident Financial Authorizes Repurchase of Up to 5% of Shares
Provident Financial Holdings announced that the company's Board of Directors authorized the repurchase of up to 5% of the company's common stock, approximately 305,477 shares. This stock repurchase plan will commence after the January 2026 stock repurchase plan has been fulfilled and/or expires. There are approximately 21,674 shares remaining for purchase in the January 2026 plan. The company will purchase the shares from time to time in the open market or through privately negotiated transactions over a one-year period depending on market conditions, the capital requirements of the company, and available cash that can be allocated to the stock repurchase plan, among other considerations.
Company's Net Interest Margin Expands for Fourth Consecutive Quarter
"Our fourth quarter results reflect sustained momentum in our business. The net interest margin expanded for the fourth consecutive quarter, credit quality remained excellent, and operating expenses were tightly managed. Together with our share repurchases, these results underscore our continued commitment to delivering shareholder value," said Donavon P. Ternes, President and Chief Executive Officer. "We are well positioned to further strengthen our fundamentals in fiscal 2027, supported by our disciplined credit culture, strong capital position, and a more favorable interest rate environment," he added.
Company Authorizes Buyback of Up to 5% Shares
Reports Q3 net interest margin 3.13% vs. 3.02% a year ago. Book value per share was $20.02 vs. $19.37 a year ago. Common equity tier 1 capital ratio was 19.01% vs. 18.67% a year ago. "During Q3, our net interest margin continued to expand, credit quality remained excellent, and operating expenses were well managed. Our Board of Directors authorized a new stock repurchase program for up to five percent of the Company's outstanding shares, underscoring our strong capital position and confidence in our long-term outlook. We continued to execute with discipline, maintaining strong underwriting standards and prudent pricing, and we remain well positioned to deliver continued value to our shareholders," said Donavon P. Ternes, CEO.
Q2 Net Interest Margin Rises to 3.03%, Book Value at $19.87
Reports Q2 net interest margin 3.03%, up three basis points from the sequential quarter and up 12 basis points from the comparable quarter last year. Book value per share was $19.87 from $19.18 at previous quarter end. Common equity tier 1 capital ratio was 18.67% vs. 18.19% last quarter. "Our financial results for the December quarter were steady," said CEO Donavon Ternes. "Even in a highly competitive environment for loans and deposits, we continued to execute with discipline, maintaining strong underwriting standards and prudent pricing. Credit quality remains excellent, our net interest margin expanded, and operating expenses were well controlled. We continue to create value for our shareholders through share repurchases and a consistent quarterly cash dividend. Looking ahead, we are encouraged by a stable economic environment and believe that a normalizing yield curve positions us well for future performance," concluded Ternes.
Provident Financial Authorizes 5% Stock Buyback
Provident Financial "announced that the Company's Board of Directors authorized the repurchase of up to five percent of the Company's common stock, approximately 318,875 shares. Beginning on January 23, 2026, the Company will purchase the shares from time to time in the open market or through privately negotiated transactions over a one-year period depending on market conditions, the capital requirements of the Company, and available cash that can be allocated to the stock repurchase program, among other considerations. Additionally, the January 2025 stock repurchase program is canceled effective January 23, 2026. There were 16,825 remaining shares eligible for repurchase in the January 2025 stock repurchase program that will no longer be repurchased."
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