# EDGAR Filing Document

**Accession Number:** 0001010470
**File Stem:** 0000939057-23-000012
**Filing Date:** 2023-1
**Character Count:** 50827
**Document Hash:** 1d160789d3ecfd8e330bfe9a09e339a5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000939057-23-000012.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0000939057-23-000012

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 32

**CONFORMED PERIOD OF REPORT**: 20230127

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230127

**DATE AS OF CHANGE**: 20230127

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PROVIDENT FINANCIAL HOLDINGS INC
- **CENTRAL INDEX KEY:** 0001010470
- **STANDARD INDUSTRIAL CLASSIFICATION:** SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
- **IRS NUMBER:** 330704889
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-28304
- **FILM NUMBER:** 23561710

**BUSINESS ADDRESS:**
- **STREET 1:** 3756 CENTRAL AVE
- **CITY:** RIVERSIDE
- **STATE:** CA
- **ZIP:** 92506
- **BUSINESS PHONE:** 9096866060

**MAIL ADDRESS:**
- **STREET 1:** 3756 CENTRAL AVENUE
- **CITY:** RIVERSIDE
- **STATE:** CA
- **ZIP:** 92506

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM 8-K

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): **January 27, 2023**

### PROVIDENT FINANCIAL HOLDINGS, INC.
(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware**<br>| **000-28304**<br>| **33-0704889**<br>|
| (State or other jurisdiction | (Commission | (I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |

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| | |
|:---|:---|
| **3756 Central Avenue, Riverside, California** | **92506**<br>|
| (Address of principal executive offices) | (Zip Code) |

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Registrant's telephone number, including area code: **(951) 686-6060**

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| |
|:---|
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions. |
|  ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|  ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|  ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act <br> &nbsp;&nbsp;&nbsp;&nbsp; (17 CFR 240.14d-2(b)) |
|  ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act <br> &nbsp;&nbsp;&nbsp;&nbsp; (17 CFR 240.13e-4(c)) |

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Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, par value $.01 per share<br>| PROV<br>| The NASDAQ Stock Market LLC<br>|

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

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#### Item 2.02 Results of Operations and Financial Condition
On January 27, 2023, Provident Financial Holdings, Inc. ("Corporation"), the holding company for Provident Savings Bank, F.S.B., distributed its financial results for the quarter ended December 31, 2022. A copy of the news release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

#### Item 7.01 Regulation FD Disclosure.
On January 27, 2023, the Corporation posted its Investor Presentation for the quarter ended December 31, 2022 on the Corporation's website, www.myprovident.com, under Presentations in the Investor Relations section. A copy of the Investor Presentation is attached hereto as Exhibit 99.2 and is incorporated herein by reference.

#### Item 9.01 Financial Statements and Exhibits
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits

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| | |
|:---|:---|
| [99.1](prov8k12723exh991.htm) | [News release of the Corporation's financial results for the quarter ended December 31, 2022.](prov8k12723exh991.htm) |
| [99.2](prov8k12723exh992.htm) | [Investor Presentation of Provident Financial Holdings, Inc. for the quarter ended December 31, 2022.](prov8k12723exh992.htm) |
| 104 <br>| Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) |

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#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
| Date: January 27, 2023 | PROVIDENT FINANCIAL HOLDINGS, INC. |
|  | /s/ Donavon P. Ternes |
|  | Donavon P. Ternes |
|  | President, Chief Operating Officer and |
|  | Chief Financial Officer |
|  | (Principal Financial and Accounting Officer) |

---

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## Exhibit 99.1

**Exhibit 99.1**<br>

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| | |
|:---|:---|
| ![](image00002.jpg) | ![](image00003.jpg) |
| **3756 Central Avenue** | **NEWS RELEASE** |
| **Riverside, CA 92506** |  |
| (951) 686-6060 |  |

---

#### PROVIDENT FINANCIAL HOLDINGS REPORTS

#### SECOND QUARTER OF FISCAL 2023 RESULTS

#### Net Income of $2.37 Million in the December 2022 Quarter

#### Net Interest Margin Expanded 41 Basis Points in Comparison

#### to the Same Quarter Last Year

#### Loans Held for Investment Increased 11% from June 30, 2022 to $1.04 Billion

#### Total Deposits Decreased 1% from June 30, 2022 to $945.3 Million

#### Strong Asset Quality with Non-Performing Assets to Total Assets Ratio of 0.08%

#### Non-Interest Expenses Remained Well-Controlled
Riverside, Calif. – January 27, 2023 – Provident Financial Holdings, Inc. ("Company"), NASDAQ GS: PROV, the holding company for Provident Savings Bank, F.S.B. ("Bank"), today announced second quarter earnings for the fiscal year ending June 30, 2023.

For the quarter ended December 31, 2022, the Company reported net income of $2.37 million, or $0.33 per diluted share (on 7.24 million average diluted shares outstanding), up five percent from net income of $2.26 million, or $0.30 per diluted share (on 7.48 million average diluted shares outstanding), in the comparable period a year ago. The increase in earnings was primarily attributable to a $1.72 million increase in net interest income and a $101,000 decrease in non-interest expenses, partly offset by a $1.26 million change to the provision for loan losses to a $191,000 provision for loan losses this quarter in contrast to a $1.07 million recovery from the allowance for loan losses in the same quarter last year and a $412,000 decrease in non-interest income.

"We are pleased with our recent financial results and the growth of the Company. Loans held for investment are expanding, net interest income is increasing, the net interest margin is stable and operating expenses are well-controlled," said Craig G. Blunden, Chairman and Chief Executive Officer of the Company. "Credit quality remains strong and we have not seen any deterioration in the performance of our loan portfolio despite the higher interest rate and inflationary economic environment," concluded Blunden.

Return on average assets for the second quarter of fiscal 2023 was 0.75 percent, down slightly from 0.76 percent for the same period of fiscal 2022; but return on average stockholders' <br>

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equity for the second quarter of fiscal 2023 was 7.27 percent, up from 7.11 percent for the comparable period of fiscal 2022.

On a sequential quarter basis, the $2.37 million net income for the second quarter of fiscal 2023 reflects a 13 percent increase from $2.09 million in the first quarter of fiscal 2023. The increase was primarily attributable to a $420,000 increase in net interest income and a $143,000 decrease in non-interest expenses (mainly a decrease in professional expenses, partly offset by an increase in salaries and employee benefits expenses), partly offset by a $121,000 increase in the provision for loan losses. Diluted earnings per share for the second quarter of fiscal 2023 were $0.33 per share, up 14 percent from the $0.29 per share during the first quarter of fiscal 2023. Return on average assets was 0.75 percent for the second quarter of fiscal 2023, up from 0.69 percent in the first quarter of fiscal 2023; and return on average stockholders' equity for the second quarter of fiscal 2023 was 7.27 percent, up from 6.42 percent for the first quarter of fiscal 2023.

For the six months ended December 31, 2022, net income decreased $470,000, or 10 percent, to $4.46 million from $4.93 million in the comparable period ended December 31, 2021. Diluted earnings per share for the six months ended December 31, 2022 decreased six percent to $0.61 per share (on 7.27 million average diluted shares outstanding) from $0.65 per share (on 7.53 million average diluted shares outstanding) for the comparable six-month period last year. The decrease in earnings was primarily attributable to a $1.67 million change in the provision for loan losses to a $261,000 provision for loan losses in the first six months ended December 31, 2022 in contrast to a $1.41 million recovery from the allowance for loan losses in the comparable period last year, and a $1.17 million increase in non-interest expense (primarily attributable to the $1.20 million employee retention tax credit recorded in the first quarter of fiscal 2022 and not replicated in the current quarter) and a $478,000 decrease in non-interest income (mainly a decrease in loan prepayment fees), partly offset by a $2.80 million increase in net-interest income.

In the second quarter of fiscal 2023, net interest income increased $1.73 million, or 23 percent, to $9.39 million from $7.66 million for the same quarter last year. The increase in net interest income was primarily due to a higher net interest margin due to a shift in the composition of interest-earning assets towards higher yielding loans held for investment and an increase in the average yield on interest-earning deposits reflecting recent increases in the targeted federal funds rate, partly offset by increases in the average cost of interest-bearing liabilities. The net interest margin during the second quarter of fiscal 2023 increased 41 basis points to 3.05 percent from 2.64 percent in the same quarter last year. The average yield on interest-earning assets increased 70 basis points to 3.63 percent in the second quarter of fiscal 2023 from 2.93 percent in the same quarter last year while the average cost of interest-bearing liabilities increased by 31 basis points to 0.63 percent in the second quarter of fiscal 2023 from 0.32 percent in the same quarter last year. The average balance of interest-earning assets increased by six percent to $1.23 billion in the second quarter of fiscal 2023 from $1.16 billion in the same quarter last year. This increase was attributable to the increase in the average balance of loans held for investment, partly offset by decreases in the average balance of investment securities and interest-earning deposits.

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Interest income on loans receivable increased by $2.32 million, or 29 percent, to $10.24 million in the second quarter of fiscal 2023 from $7.92 million in the same quarter of fiscal 2022. The increase was due to a higher average balance and, to a lesser extent, a higher average loan yield. The average balance of loans receivable increased by $167.4 million, or 20 percent, to $1.02 billion in the second quarter of fiscal 2023 from $854.3 million in the same quarter last year. Total loans originated and purchased for investment in the second quarter of fiscal 2023 were $74.3 million, up 14 percent from $65.3 million in the same quarter last year. Loan principal payments received in the second quarter of fiscal 2023 were $28.0 million, down 61 percent from $72.5 million in the same quarter last year. The average yield on loans receivable increased by 30 basis points to 4.01 percent in the second quarter of fiscal 2023 from 3.71 percent in the same quarter last year. Net deferred loan cost amortization in the second quarter of fiscal 2023 decreased 67 percent to $203,000 from $622,000 in the same quarter last year, attributable primarily to fewer loan payoffs.

Interest income from investment securities increased $115,000, or 27 percent, to $548,000 in the second quarter of fiscal 2023 from $433,000 for the same quarter of fiscal 2022. This increase was attributable to a higher average yield, partly offset by a lower average balance. The average yield on investment securities increased 42 basis points to 1.25 percent in the second quarter of fiscal 2023 from 0.83 percent for the same quarter last year. The increase in the average investment securities yield was primarily attributable to a lower premium amortization during the current quarter in comparison to the same quarter last year ($203,000 vs. $443,000) attributable to a lower total principal repayment ($7.6 million vs. $15.5 million) and, to a lesser extent, the upward repricing of adjustable-rate mortgage-backed securities. The average balance of investment securities decreased by $34.5 million, or 16 percent, to $175.2 million in the second quarter of fiscal 2023 from $209.7 million in the same quarter last year.

In the second quarter of fiscal 2023, the Federal Home Loan Bank – San Francisco ("FHLB") distributed a $145,000 cash dividend to the Bank on its FHLB stock, up 18 percent from $123,000 in the same quarter last year. The average balance of FHLB – San Francisco stock in the second quarter of fiscal 2023 was $8.2 million, virtually unchanged from the same quarter of fiscal 2022 while the average yield increased by 101 basis points to 7.04 percent in the second quarter of fiscal 2023 from 6.03 percent in the same quarter last year.

Interest income from interest-earning deposits, primarily cash deposited at the Federal Reserve Bank of San Francisco, was $241,000 in the second quarter of fiscal 2023, up 589 percent from $35,000 in the same quarter of fiscal 2022. The increase was due to a higher average yield, partly offset by a lower average balance. The average yield earned on interest-earning deposits in the second quarter of fiscal 2023 was 3.89 percent, up 374 basis points from 0.15 percent in the same quarter last year. The average balance of the Company's interest-earning deposits decreased $66.8 million, or 73 percent, to $24.2 million in the second quarter of fiscal 2023 from $91.0 million in the same quarter last year primarily due to the utilization of excess funds for loan portfolio growth.

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| ![](image00002.jpg) | ![](image00003.jpg) |

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Interest expense on deposits for the second quarter of fiscal 2023 was $475,000, a 57 percent increase from $302,000 for the same period last year. The increase in interest expense on deposits was attributable to a higher weighted average cost. The average cost of deposits was 0.20 percent in the second quarter of fiscal 2023, up eight basis points from 0.12 percent in the same quarter last year. The average balance of deposits increased slightly to $962.4 million in the second quarter of fiscal 2023 from $962.1 million in the same quarter last year.

Transaction account balances or "core deposits" decreased $32.7 million, or four percent, to $801.7 million at December 31, 2022 from $834.4 million at June 30, 2022 and time deposits increased $22.5 million, or 19 percent, to $143.6 million at December 31, 2022 from $121.1 million at June 30, 2022. The increase in time deposits was primarily due to a $31.2 million increase in brokered certificates of deposit with a weighted average cost of 2.90 percent (including broker fees).

Interest expense on borrowings, consisting of FHLB – San Francisco advances, for the second quarter of fiscal 2023 increased $765,000, or 140 percent, to $1.31 million from $546,000 for the same period last year. The increase in interest expense on borrowings was primarily the result of a higher average balance and, to a lesser extent, a higher average cost. The average balance of borrowings increased by $64.7 million, or 73 percent, to $153.7 million in the second quarter of fiscal 2023 from $89.0 million in the same quarter last year and the average cost of borrowings increased by 95 basis points to 3.38 percent in the second quarter of fiscal 2023 from 2.43 percent in the same quarter last year.

During the second quarter of fiscal 2023, the Company recorded a provision for loan losses of $191,000, as compared to the $1.07 million recovery from the allowance for loan losses recorded during the same period last year and the $70,000 provision for loan losses recorded in the first quarter of fiscal 2023 (sequential quarter). The provision for loan losses primarily reflects an increase in loans held for investment in the second quarter of fiscal 2023 while the overall loan credit quality remains very strong.

Non-performing assets, comprised solely of non-performing loans with underlying collateral located in California, decreased $467,000 or 33 percent to $956,000, or 0.08 percent of total assets, at December 31, 2022, compared to $1.4 million, or 0.12 percent of total assets, at June 30, 2022. The non-performing loans at December 31, 2022 are comprised of five single-family loans, while the non-performing loans at June 30, 2022 were comprised of seven single-family loans. At both December 31, 2022 and June 30, 2022, there was no real estate owned. Net loan recoveries for the quarter ended December 31, 2022 were $1,000, as compared to $262,000 for the quarter ended December 31, 2021 and $4,000 for the quarter ended September 30, 2022 (sequential quarter).

Classified assets were $2.0 million at December 31, 2022 which consist of $514,000 of loans in the special mention category and $1.5 million of loans in the substandard category. Classified assets at June 30, 2022 were $1.6 million, consisting of $224,000 of loans in the special mention category and $1.4 million of loans in the substandard category.

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The allowance for loan losses was $5.8 million, or 0.56 percent of gross loans held for investment, at December 31, 2022, up from the $5.6 million but down from 0.59 percent of gross loans held for investment at June 30, 2022. Management believes that, based on currently available information, the allowance for loan losses is sufficient to absorb potential losses inherent in loans held for investment at December 31, 2022 under the incurred loss methodology.

Non-interest income decreased by $412,000, or 30 percent, to $956,000 in the second quarter of fiscal 2023 from $1.37 million in the same period last year, primarily due to a $329,000 decrease in loan servicing and other fees, attributable primarily to lower loan prepayment fees. On a sequential quarter basis, non-interest income decreased $47,000 or five percent.

Non-interest expenses decreased by $101,000 or one percent to $6.80 million in the second quarter of fiscal 2023 from $6.90 million for the same quarter last year. The decrease in the non-interest expenses in the second quarter of fiscal 2023 was primarily due to lower salaries and employee benefits expenses and lower equipment expenses. On a sequential quarter basis, non-interest expenses decreased by $143,000 or two percent to $6.80 million in the second quarter of fiscal 2023 from $6.94 million in the first quarter of fiscal 2023, primarily due to a decrease in professional expenses (mainly a decrease in legal costs), partly offset by an increase in salaries and employee benefits expenses.

The Company's efficiency ratio, defined as non-interest expense divided by the sum of net interest income and non-interest income, in the second quarter of fiscal 2023 was 65.74 percent, improving from 76.39 percent in the same quarter last year and 69.63 percent in the first quarter of fiscal 2023 (sequential quarter). The improvement in the efficiency ratio is due to both lower non-interest expenses and higher total revenues during the current quarter, compared to the comparable quarter last year and the sequential quarter.

The Company's provision for income taxes was $981,000 for the second quarter of fiscal 2023, up five percent from $935,000 in the same quarter last year primarily due to an increase in income before income taxes. The effective tax rate in the second quarter of fiscal 2023 was 29.3 percent as compared to 29.2 percent in the same quarter last year.

The Company repurchased 103,290 shares of its common stock with an average cost of $14.26 per share during the quarter ended December 31, 2022 pursuant to its April 2022 stock repurchase plan. As of December 31, 2022, a total of 211,345 shares or 58 percent of the shares authorized for repurchase under the plan remain available to purchase until the plan expires on April 28, 2023.

The Bank currently operates 13 retail/business banking offices in Riverside County and San Bernardino County (Inland Empire).

The Company will host a conference call for institutional investors and bank analysts on Monday, January 30, 2023 at 9:00 a.m. (Pacific) to discuss its financial results. The conference call can be accessed by dialing 1-877-336-4436 and referencing access code number 2633623. An

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audio replay of the conference call will be available through Monday, February 6, 2023 by dialing 1-866-207-1041 and referencing access code number 2446007.

For more financial information about the Company please visit the website at www.myprovident.com and click on the "Investor Relations" section.

Safe-Harbor Statement

*This press release contains statements that the Company believes are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to the Company's financial condition, liquidity, results of operations, plans, objectives, future performance or business. You should not place undue reliance on these statements, as they are subject to risks and uncertainties. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements the Company may make. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to the Company. There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors which could cause actual results to differ materially from the results anticipated or implied by our forward-looking statements include, but are not limited to potential adverse impacts to economic conditions in our local market areas, other markets where the Company has lending relationships, or other aspects of the Company's business operations or financial markets, including, without limitation, as a result of employment levels, labor shortages and the effects of inflation, a potential recession or slowed economic growth caused by increasing political instability from acts of war including Russia's invasion of Ukraine, as well as increasing oil prices and supply chain disruptions, and any governmental or societal responses to new COVID-19 variants; increased competitive pressures; changes in the interest rate environment; changes in general economic conditions, including the effects of inflation, and conditions within the securities markets; legislative and regulatory changes, including as a result of the COVID-19 pandemic; and other factors described in the Company's latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission ("SEC") - which are available on our website at www.myprovident.com and on the SEC's website at www.sec.gov. We do not undertake and specifically disclaim any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements whether as a result of new information, future events or otherwise. These risks could cause our actual results for fiscal 2023 and beyond to differ materially from those expressed in any forward-looking statements by, or on behalf of us and could negatively affect our operating and stock price performance.*

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|:---|:---|:---|
| <br> Contacts: | Craig G. Blunden | Donavon P. Ternes |
|  | Chairman and | President, Chief Operating Officer, |
|  | Chief Executive Officer | and Chief Financial Officer |

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#### <br>

#### PROVIDENT FINANCIAL HOLDINGS, INC.

#### Condensed Consolidated Statements of Financial Condition
(Unaudited –In Thousands, Except Share Information)

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **December 31,**<br>**2022** | **September 30,**<br>**2022** | **June 30,**<br>**2022** | **March 31,**<br>**2022** | **December 31,**<br>**2021** |
| **Assets** |  |  |  |  |  |
| &nbsp;&nbsp; Cash and cash equivalents | $24840 | $38701 | $23414 | $60121 | $85680 |
| &nbsp;&nbsp; Investment securities – held to maturity, at cost | 168232 | 176162 | 185745 | 195579 | 205065 |
| &nbsp;&nbsp; Investment securities - available for sale, at fair value | 2377 | 2517 | 2676 | 2944 | 3118 |
| &nbsp;&nbsp; Loans held for investment, net of allowance for loan losses of <br> &nbsp;&nbsp;&nbsp;&nbsp;$5,830; $5,638; $5,564; $5,969 and $6,608, respectively; <br> &nbsp;&nbsp;&nbsp;&nbsp;includes $1,345; $1,350; $1,396; $1,470 and $1,555 at fair <br> &nbsp;&nbsp;&nbsp;&nbsp;value, respectively | 1040337 | 993942 | 939992 | 893563 | 852006 |
| &nbsp;&nbsp; Accrued interest receivable | 3343 | 3054 | 2966 | 2850 | 2862 |
| &nbsp;&nbsp; FHLB – San Francisco stock | 8239 | 8239 | 8239 | 8155 | 8155 |
| &nbsp;&nbsp; Premises and equipment, net | 8911 | 8707 | 8826 | 8957 | 8942 |
| &nbsp;&nbsp; Prepaid expenses and other assets | 14763 | 14593 | 15180 | 15665 | 16577 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total assets | $1271042 | $1245915 | $1187038 | $1187834 | $1182405 |
| **Liabilities and Stockholders' Equity** |  |  |  |  |  |
| Liabilities: |  |  |  |  |  |
| &nbsp;&nbsp; Non interest-bearing deposits | $108891 | $123314 | $125089 | $117097 | $112022 |
| &nbsp;&nbsp; Interest-bearing deposits | 836411 | 862010 | 830415 | 846403 | 844326 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total deposits | 945302 | 985324 | 955504 | 963500 | 956348 |
| &nbsp;&nbsp; Borrowings | 180000 | 115000 | 85000 | 80000 | 80000 |
| &nbsp;&nbsp; Accounts payable, accrued interest and other liabilities | 16499 | 16402 | 17884 | 16717 | 18123 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total liabilities | 1141801 | 1116726 | 1058388 | 1060217 | 1054471 |
| Stockholders' equity: |  |  |  |  |  |
| &nbsp;&nbsp; Preferred stock, $.01 par value (2,000,000 shares authorized; <br> &nbsp;&nbsp;&nbsp;&nbsp;none issued and outstanding) |  |  |  |  |  |
| &nbsp;&nbsp; Common stock, $.01 par value; (40,000,000 shares <br> &nbsp;&nbsp;&nbsp;&nbsp;authorized; 18,229,615; 18,229,615; 18,229,615; 18,229,615 <br> &nbsp;&nbsp;&nbsp;&nbsp;and 18,229,615 shares issued respectively; 7,132,270; <br> &nbsp;&nbsp;&nbsp;&nbsp;7,235,560; 7,285,184; 7,320,672 and 7,389,943 shares <br> &nbsp;&nbsp;&nbsp;&nbsp;outstanding, respectively) | 183 | 183 | 183 | 183 | 183 |
| &nbsp;&nbsp; Additional paid-in capital | 98732 | 98559 | 98826 | 98617 | 98404 |
| &nbsp;&nbsp; Retained earnings | 205117 | 203750 | 202680 | 201237 | 200569 |
| &nbsp;&nbsp; Treasury stock at cost (11,097,345; 10,994,055; 10,944,431; <br> &nbsp;&nbsp;&nbsp;&nbsp;10,908,943 and 10,839,672 shares, respectively) | (174758) | (173286) | (173041) | (172459) | (171280) |
| &nbsp;&nbsp; Accumulated other comprehensive income, net of tax | (33) | (17) | 2 | 39 | 58 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total stockholders' equity | 129241 | 129189 | 128650 | 127617 | 127934 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total liabilities and stockholders' equity | $1271042 | $1245915 | $1187038 | $1187834 | $1182405 |

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#### <br>

#### PROVIDENT FINANCIAL HOLDINGS, INC.

#### Condensed Consolidated Statements of Operations
(Unaudited - In Thousands, Except Earnings Per Share)

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|:---|:---|:---|:---|:---|
|  | **Quarter Ended** | **Quarter Ended** | **Six Months Ended** | **Six Months Ended** |
|  | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
|  | **2022** | **2021** | **2022** | **2021** |
| Interest income: |  |  |  |  |
| &nbsp;&nbsp; Loans receivable, net | $10237 | $7920 | $19337 | $16095 |
| &nbsp;&nbsp; Investment securities | 548 | 433 | 1084 | 851 |
| &nbsp;&nbsp; FHLB – San Francisco stock | 145 | 123 | 268 | 245 |
| &nbsp;&nbsp; Interest-earning deposits | 241 | 35 | 380 | 66 |
| &nbsp;&nbsp; Total interest income | 11171 | 8511 | 21069 | 17257 |
| Interest expense: |  |  |  |  |
| &nbsp;&nbsp; Checking and money market deposits | 61 | 58 | 121 | 115 |
| &nbsp;&nbsp; Savings deposits | 44 | 45 | 88 | 86 |
| &nbsp;&nbsp; Time deposits | 370 | 199 | 583 | 414 |
| &nbsp;&nbsp; Borrowings | 1311 | 546 | 1927 | 1091 |
| &nbsp;&nbsp; Total interest expense | 1786 | 848 | 2719 | 1706 |
| Net interest income | 9385 | 7663 | 18350 | 15551 |
| Provision (recovery) for loan losses | 191 | (1067) | 261 | (1406) |
| Net interest income, after provision (recovery) for loan losses | 9194 | 8730 | 18089 | 16957 |
| Non-interest income: |  |  |  |  |
| &nbsp;&nbsp; Loan servicing and other fees | 115 | 444 | 223 | 630 |
| &nbsp;&nbsp; Deposit account fees | 327 | 325 | 670 | 637 |
| &nbsp;&nbsp; Card and processing fees | 367 | 399 | 748 | 804 |
| &nbsp;&nbsp; Other | 147 | 200 | 318 | 366 |
| &nbsp;&nbsp; Total non-interest income | 956 | 1368 | 1959 | 2437 |
| Non-interest expense: |  |  |  |  |
| &nbsp;&nbsp; Salaries and employee benefits | 4384 | 4455 | 8523 | 7575 |
| &nbsp;&nbsp; Premises and occupancy | 796 | 758 | 1657 | 1663 |
| &nbsp;&nbsp; Equipment | 258 | 314 | 569 | 602 |
| &nbsp;&nbsp; Professional expenses | 310 | 348 | 902 | 809 |
| &nbsp;&nbsp; Sales and marketing expenses | 175 | 149 | 322 | 291 |
| &nbsp;&nbsp; Deposit insurance premiums and regulatory assessments | 139 | 136 | 274 | 273 |
| &nbsp;&nbsp; Other | 736 | 739 | 1492 | 1354 |
| &nbsp;&nbsp; Total non-interest expense | 6798 | 6899 | 13739 | 12567 |
| Income before income taxes | 3352 | 3199 | 6309 | 6827 |
| Provision for income taxes | 981 | 935 | 1848 | 1896 |
| &nbsp;&nbsp; Net income | $2371 | $2264 | $4461 | $4931 |
| **Basic earnings per share** | $0.33 | $0.30 | $0.62 | $0.66 |
| **Diluted earnings per share** | $0.33 | $0.30 | $0.61 | $0.65 |
| **Cash dividends per share** | $0.14 | $0.14 | $0.28 | $0.28 |

---

Page 8 of 15<br>

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|:---|:---|
| ![](image00002.jpg) | ![](image00003.jpg) |

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#### PROVIDENT FINANCIAL HOLDINGS, INC.

#### Condensed Consolidated Statements of Operations – Sequential Quarters
(Unaudited – In Thousands, Except Share Information)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
|  | **December 31,**<br>**2022** | **September 30,**<br>**2022** | **June 30,**<br>**2022** | **March 31,**<br>**2022** | **December 31,**<br>**2021** |
| Interest income: |  |  |  |  |  |
| &nbsp;&nbsp; Loans receivable, net | $10237 | $9100 | $8485 | $7581 | $7920 |
| &nbsp;&nbsp; Investment securities | 548 | 536 | 540 | 515 | 433 |
| &nbsp;&nbsp; FHLB – San Francisco stock | 145 | 123 | 121 | 123 | 123 |
| &nbsp;&nbsp; Interest-earning deposits | 241 | 139 | 69 | 39 | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total interest income | 11171 | 9898 | 9215 | 8258 | 8511 |
| Interest expense: |  |  |  |  |  |
| &nbsp;&nbsp; Checking and money market deposits | 61 | 60 | 51 | 54 | 58 |
| &nbsp;&nbsp; Savings deposits | 44 | 44 | 44 | 42 | 45 |
| &nbsp;&nbsp; Time deposits | 370 | 213 | 160 | 178 | 199 |
| &nbsp;&nbsp; Borrowings | 1311 | 616 | 454 | 446 | 546 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total interest expense | 1786 | 933 | 709 | 720 | 848 |
| Net interest income | 9385 | 8965 | 8506 | 7538 | 7663 |
| Provision (recovery) for loan losses | 191 | 70 | (411) | (645) | (1067) |
|  Net interest income, after provision (recovery) for loan losses | 9194 | 8895 | 8917 | 8183 | 8730 |
| Non-interest income: |  |  |  |  |  |
| &nbsp;&nbsp; Loan servicing and other fees | 115 | 108 | 189 | 237 | 444 |
| &nbsp;&nbsp; Deposit account fees | 327 | 343 | 336 | 329 | 325 |
| &nbsp;&nbsp; Card and processing fees | 367 | 381 | 457 | 378 | 399 |
| &nbsp;&nbsp; Other | 147 | 171 | 183 | 170 | 200 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total non-interest income | 956 | 1003 | 1165 | 1114 | 1368 |
| Non-interest expense: |  |  |  |  |  |
| &nbsp;&nbsp; Salaries and employee benefits | 4384 | 4139 | 4055 | 4203 | 4455 |
| &nbsp;&nbsp; Premises and occupancy | 796 | 861 | 690 | 836 | 758 |
| &nbsp;&nbsp; Equipment | 258 | 311 | 350 | 330 | 314 |
| &nbsp;&nbsp; Professional expenses | 310 | 592 | 311 | 299 | 348 |
| &nbsp;&nbsp; Sales and marketing expenses | 175 | 147 | 165 | 186 | 149 |
| &nbsp;&nbsp; Deposit insurance premiums and regulatory assessments | 139 | 135 | 134 | 136 | 136 |
| &nbsp;&nbsp; Other | 736 | 756 | 744 | 909 | 739 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total non-interest expense | 6798 | 6941 | 6449 | 6899 | 6899 |
| Income before income taxes | 3352 | 2957 | 3633 | 2398 | 3199 |
| Provision for income taxes | 981 | 867 | 1170 | 699 | 935 |
| Net income | $2371 | $2090 | $2463 | $1699 | $2264 |
| **Basic earnings per share** | $0.33 | $0.29 | $0.34 | $0.23 | $0.30 |
| **Diluted earnings per share** | $0.33 | $0.29 | $0.34 | $0.23 | $0.30 |
| **Cash dividends per share** | $0.14 | $0.14 | $0.14 | $0.14 | $0.14 |

---

Page 9 of 15

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| ![](image00002.jpg) | ![](image00003.jpg) |

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#### <br>

#### PROVIDENT FINANCIAL HOLDINGS, INC.

#### Financial Highlights
(Unaudited - Dollars in Thousands, Except Share Information)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of and For the** | **As of and For the** | **As of and For the** | **As of and For the** |
|  | **Quarter Ended** | **Quarter Ended** | **Six Months Ended** | **Six Months Ended** |
|  | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
|  | **2022** | **2021** | **2022** | **2021** |
| **SELECTED FINANCIAL RATIOS:** |  |  |  |  |
| Return on average assets | 0.75% | 0.76% | 0.72% | 0.82% |
| Return on average stockholders' equity | 7.27% | 7.11% | 6.85% | 7.75% |
| Stockholders' equity to total assets | 10.17% | 10.82% | 10.17% | 10.82% |
| Net interest spread | 3.00% | 2.61% | 3.01% | 2.65% |
| Net interest margin | 3.05% | 2.64% | 3.05% | 2.67% |
| Efficiency ratio | 65.74% | 76.39% | 67.65% | 69.86% |
|  Average interest-earning assets to average interest-<br> &nbsp;&nbsp;&nbsp;&nbsp;bearing liabilities | 110.14% | 110.65% | 110.34% | 110.70% |
| **SELECTED FINANCIAL DATA:** |  |  |  |  |
| Basic earnings per share | $0.33 | $0.30 | $0.62 | $0.66 |
| Diluted earnings per share | $0.33 | $0.30 | $0.61 | $0.65 |
| Book value per share | $18.12 | $17.31 | $18.12 | $17.31 |
| Shares used for basic EPS computation | 7184652 | 7435218 | 7229015 | 7482544 |
| Shares used for diluted EPS computation | 7236451 | 7482812 | 7273470 | 7529067 |
| Total shares issued and outstanding | 7132270 | 7389943 | 7132270 | 7389943 |
|  **LOANS ORIGINATED AND PURCHASED** <br> **&nbsp;&nbsp;&nbsp;&nbsp;FOR INVESTMENT:** |  |  |  |  |
| Mortgage Loans: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Single-family | $57079 | $45720 | $114128 | $80140 |
| &nbsp;&nbsp;&nbsp;&nbsp; Multi-family | 8663 | 14920 | 32859 | 40238 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial real estate | 7025 | 3005 | 10350 | 4205 |
| &nbsp;&nbsp;&nbsp;&nbsp; Construction | 1388 | 1684 | 1388 | 1684 |
| Commercial business loans | 190 |  | 190 |  |
| &nbsp;&nbsp; Total loans originated and purchased for <br> &nbsp;&nbsp;&nbsp;&nbsp;investment | $74345 | $65329 | $158915 | $126267 |

---

Page 10 of 15

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| | |
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| ![](image00002.jpg) | ![](image00003.jpg) |

---

#### PROVIDENT FINANCIAL HOLDINGS, INC.

#### Financial Highlights
(Unaudited - Dollars in Thousands, Except Share Information)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **As of and For the** | **As of and For the** | **As of and For the** | **As of and For the** | **As of and For the** |
|  | **Quarter**<br>**Ended**<br>**12/31/22** | **Quarter**<br>**Ended**<br>**09/30/22** | **Quarter**<br>**Ended**<br>**06/30/22** | **Quarter**<br>**Ended**<br>**03/31/22** | **Quarter**<br>**Ended**<br>**12/31/21** |
|  **SELECTED FINANCIAL** <br> **&nbsp;&nbsp;&nbsp;&nbsp;RATIOS:** |  |  |  |  |  |
| Return on average assets | 0.75% | 0.69% | 0.83% | 0.57% | 0.76% |
|  Return on average stockholders' <br> &nbsp;&nbsp;&nbsp;&nbsp;equity | 7.27% | 6.42% | 7.72% | 5.33% | 7.11% |
| Stockholders' equity to total assets | 10.17% | 10.37% | 10.84% | 10.74% | 10.82% |
| Net interest spread | 3.00% | 3.01% | 2.91% | 2.58% | 2.61% |
| Net interest margin | 3.05% | 3.05% | 2.93% | 2.61% | 2.64% |
| Efficiency ratio | 65.74% | 69.63% | 66.68% | 79.74% | 76.39% |
|  Average interest-earning assets to <br> &nbsp;&nbsp;&nbsp;&nbsp;average interest-bearing liabilities | 110.14% | 110.56% | 110.51% | 110.79% | 110.65% |
| **SELECTED FINANCIAL** <br> **DATA:** |  |  |  |  |  |
| Basic earnings per share | $0.33 | $0.29 | $0.34 | $0.23 | $0.30 |
| Diluted earnings per share | $0.33 | $0.29 | $0.34 | $0.23 | $0.30 |
| Book value per share | $18.12 | $17.85 | $17.66 | $17.43 | $17.31 |
| Average shares used for basic EPS | 7184652 | 7273377 | 7291046 | 7357989 | 7435218 |
|  Average shares used for diluted <br> &nbsp;&nbsp;&nbsp;&nbsp;EPS | 7236451 | 7310490 | 7323138 | 7412516 | 7482812 |
| Total shares issued and outstanding | 7132270 | 7235560 | 7285184 | 7320672 | 7389943 |
| **LOANS ORIGINATED AND** <br> **PURCHASED FOR** <br> **INVESTMENT:** |  |  |  |  |  |
| Mortgage loans: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Single-family | $57079 | $57049 | $62908 | $54978 | $45720 |
| &nbsp;&nbsp;&nbsp;&nbsp; Multi-family | 8663 | 24196 | 16013 | 31487 | 14920 |
| &nbsp;&nbsp;&nbsp;&nbsp; Commercial real estate | 7025 | 3325 | 6971 | 7011 | 3005 |
| &nbsp;&nbsp;&nbsp;&nbsp; Construction | 1388 |  |  | 544 | 1684 |
| Commercial business loans | 190 |  |  |  |  |
| &nbsp;&nbsp; Total loans originated and <br> purchased for investment | $74345 | $84570 | $85892 | $94020 | $65329 |

---

Page 11 of 15

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|:---|:---|
| ![](image00002.jpg) | ![](image00003.jpg) |

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#### <br>

#### PROVIDENT FINANCIAL HOLDINGS, INC.

#### Financial Highlights
(Unaudited - Dollars in Thousands)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **As of**<br>**12/31/22** | **As of**<br>**09/30/22** | **As of**<br>**06/30/22** | **As of**<br>**03/31/22** | **As of**<br>**12/31/21** |
|  **ASSET QUALITY RATIOS AND DELINQUENT** <br> **LOANS:** |  |  |  |  |  |
| Recourse reserve for loans sold | $160 | $160 | $160 | $160 | $160 |
| Allowance for loan losses | $5830 | $5638 | $5564 | $5969 | $6608 |
|  Non-performing loans to loans held for investment, <br> &nbsp;&nbsp;&nbsp;&nbsp;net | 0.09% | 0.10% | 0.15% | 0.22% | 0.33% |
| Non-performing assets to total assets | 0.08% | 0.08% | 0.12% | 0.17% | 0.24% |
|  Allowance for loan losses to gross loans held for <br> &nbsp;&nbsp;&nbsp;&nbsp;investment | 0.56% | 0.57% | 0.59% | 0.66% | 0.77% |
|  Net loan charge-offs (recoveries) to average loans <br> &nbsp;&nbsp;&nbsp;&nbsp;receivable (annualized) | —% | —% | —% | —% | (0.12)% |
| Non-performing loans | $956 | $964 | $1423 | $1996 | $2802 |
| Loans 30 to 89 days delinquent | $4 | $1 | $3 | $2 | $3 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Quarter**<br>**Ended**<br>**12/31/22** | **Quarter**<br>**Ended**<br>**09/30/22** | **Quarter**<br>**Ended**<br>**06/30/22** | **Quarter**<br>**Ended**<br>**03/31/22** | **Quarter**<br>**Ended**<br>**12/31/21** |
|  Recourse provision (recovery) for loans <br> &nbsp;&nbsp;&nbsp;&nbsp;sold | $— | $— | $— | $— | $(40) |
| Provision (recovery) for loan losses | $191 | $70 | $(411) | $(645) | $(1067) |
| Net loan charge-offs (recoveries) | $(1) | $(4) | $(6) | $(6) | $(262) |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **As of**<br>**12/31/2022** | **As of**<br>**09/30/2022** | **As of**<br>**06/30/2022** | **As of**<br>**03/31/2022** | **As of**<br>**12/31/2021** |
| **REGULATORY CAPITAL RATIOS (BANK):** |  |  |  |  |  |
| Tier 1 leverage ratio | 9.55% | 9.74% | 10.47% | 10.27% | 10.02% |
| Common equity tier 1 capital ratio | 17.87% | 17.67% | 19.58% | 19.32% | 19.69% |
| Tier 1 risk-based capital ratio | 17.87% | 17.67% | 19.58% | 19.32% | 19.69% |
| Total risk-based capital ratio | 18.74% | 18.54% | 20.47% | 20.29% | 20.79% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** |
|  | **2022** | **2022** | **2021** | **2021** |
|  | **Balance** | **Rate<sup>(1)</sup>** | **Balance** | **Rate<sup>(1)</sup>** |
| **INVESTMENT SECURITIES:** |  |  |  |  |
| **Held to maturity (at cost):** |  |  |  |  |
| Certificates of deposit | $— | —% | $600 | 0.28% |
| U.S. SBA securities | 713 | 3.60 | 1237 | 0.60 |
| U.S. government sponsored enterprise MBS | 163612 | 1.40 | 203228 | 1.26 |
| U.S. government sponsored enterprise CMO | 3907 | 2.20 |  |  |
| &nbsp;&nbsp; Total investment securities held to maturity | $168232 | 1.43% | $205065 | 1.25% |
| **Available for sale (at fair value):** |  |  |  |  |
| U.S. government agency MBS | $1533 | 2.48% | $1965 | 1.88% |
| U.S. government sponsored enterprise MBS | 742 | 3.55 | 1007 | 2.29 |
| Private issue CMO | 102 | 3.02 | 146 | 2.53 |
| &nbsp;&nbsp; Total investment securities available for sale | $2377 | 2.84% | $3118 | 2.04% |
| &nbsp;&nbsp; Total investment securities | $170609 | 1.45% | $208183 | 1.26% |

---

<sup>(1)</sup> The interest rate described in the rate column is the weighted-average interest rate or yield of all instruments, which are included in the balance of the respective line item.

#### <br>

#### Page 12 of 15 <br>

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#### <br>

#### PROVIDENT FINANCIAL HOLDINGS, INC.

#### Financial Highlights
(Unaudited - Dollars in Thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** |
|  | **2022** | **2022** | **2021** | **2021** |
|  | **Balance** | **Rate<sup>(1)</sup>** | **Balance** | **Rate<sup>(1)</sup>** |
| **LOANS HELD FOR INVESTMENT:** |  |  |  |  |
| Single-family (1 to 4 units) | $479730 | 3.82% | $290245 | 3.17% |
| Multi-family (5 or more units) | 465350 | 4.33 | 466467 | 4.04 |
| Commercial real estate | 88200 | 5.08 | 91236 | 4.84 |
| Construction | 2388 | 4.69 | 3501 | 5.35 |
| Other mortgage | 112 | 5.25 | 134 | 5.25 |
| Commercial business | 1358 | 9.21 | 362 | 5.58 |
| Consumer | 75 | 17.13 | 78 | 15.00 |
| &nbsp;&nbsp; Total loans held for investment | 1037213 | 4.17% | 852023 | 3.84% |
| Advance payments of escrows | 176 |  | 124 |  |
| Deferred loan costs, net | 8778 |  | 6467 |  |
| Allowance for loan losses | (5830) |  | (6608) |  |
| &nbsp;&nbsp; Total loans held for investment, net | $1040337 |  | $852006 |  |
| Purchased loans serviced by others included above | $10876 | 3.86% | $11773 | 3.51% |

---

<br> ![](image10.jpg)

 <sup>(1)</sup> The interest rate described in the rate column is the weighted-average interest rate or yield of all instruments, which are included in the balance of the respective line item.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** |
|  | **2022** | **2022** | **2021** | **2021** |
|  | **Balance** | **Rate<sup>(1)</sup>** | **Balance** | **Rate<sup>(1)</sup>** |
| **DEPOSITS:** |  |  |  |  |
| Checking accounts – non interest-bearing | $108891 | —% | $112022 | —% |
| Checking accounts – interest-bearing | 331132 | 0.04 | 349747 | 0.04 |
| Savings accounts | 321909 | 0.05 | 324058 | 0.05 |
| Money market accounts | 39807 | 0.20 | 38838 | 0.16 |
| Time deposits | 143563 | 1.18 | 131683 | 0.60 |
| &nbsp;&nbsp; Total deposits | $945302 | 0.22% | $956348 | 0.12% |
| **BORROWINGS:** |  |  |  |  |
| Overnight | $— | —% | $— | —% |
| Three months or less | 95000 | 4.52 |  |  |
| Over three to six months | 10000 | 2.25 |  |  |
| Over six months to one year | 35000 | 3.74 | 20000 | 1.75 |
| Over one year to two years | 20000 | 2.50 | 20000 | 2.00 |
| Over two years to three years | 20000 | 2.70 | 20000 | 2.50 |
| Over three years to four years |  |  | 20000 | 2.70 |
| &nbsp;&nbsp; Total borrowings | $180000 | 3.82% | $80000 | 2.24% |

---

<br> ![](image10.jpg)

<sup>(1)</sup> The interest rate described in the rate column is the weighted-average interest rate or cost of all instruments, which are included in the balance of the respective line item.

Page 13 of 15

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| | |
|:---|:---|
| ![](image00002.jpg) | ![](image00003.jpg) |

---

#### PROVIDENT FINANCIAL HOLDINGS, INC.

#### Financial Highlights
(Unaudited - Dollars in Thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
|  | **December 31, 2022** | **December 31, 2022** | **December 31, 2021** | **December 31, 2021** |
|  | **Balance** | **Rate<sup>(1)</sup>** | **Balance** | **Rate<sup>(1)</sup>** |
| **SELECTED AVERAGE BALANCE SHEETS:** |  |  |  |  |
| Loans receivable, net | $1021631 | 4.01% | $854270 | 3.71% |
| Investment securities | 175199 | 1.25 | 209686 | 0.83 |
| FHLB – San Francisco stock | 8239 | 7.04 | 8155 | 6.03 |
| Interest-earning deposits | 24231 | 3.89 | 90990 | 0.15 |
| Total interest-earning assets | $1229300 | 3.63% | $1163101 | 2.93% |
| Total assets | $1263577 |  | $1196804 |  |
| Deposits | $962409 | 0.20% | $962116 | 0.12% |
| Borrowings | 153696 | 3.38 | 89022 | 2.43 |
| Total interest-bearing liabilities | $1116105 | 0.63% | $1051138 | 0.32% |
| Total stockholders' equity | $130453 |  | $127397 |  |

---

<br> ![](image10.jpg)

<sup>(1)</sup> The interest rate described in the rate column is the weighted-average interest rate or yield/cost of all instruments, which are included in the balance of the respective line item.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** |
|  | **December 31, 2022** | **December 31, 2022** | **December 31, 2021** | **December 31, 2021** |
|  | **Balance** | **Rate<sup>(1)</sup>** | **Balance** | **Rate<sup>(1)</sup>** |
| **SELECTED AVERAGE BALANCE SHEETS:** |  |  |  |  |
| Loans receivable, net | $991120 | 3.90% | $853505 | 3.77% |
| Investment securities | 179775 | 1.21 | 214797 | 0.79 |
| FHLB – San Francisco stock | 8239 | 6.51 | 8155 | 6.01 |
| Interest-earning deposits | 23923 | 3.11 | 86598 | 0.15 |
| Total interest-earning assets | $1203057 | 3.50% | $1163055 | 2.97% |
| Total assets | $1237169 |  | $1195781 |  |
| Deposits | $962338 | 0.16% | $957216 | 0.13% |
| Borrowings | 127935 | 2.99 | 93382 | 2.32 |
| Total interest-bearing liabilities | $1090273 | 0.49% | $1050598 | 0.32% |
| Total stockholders' equity | $130309 |  | $127278 |  |

---

![](image10.jpg)

<sup>(1)</sup> The interest rate described in the rate column is the weighted-average interest rate or yield/cost of all instruments, which are included in the balance of the respective line item.

Page 14 of 15

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| | |
|:---|:---|
| ![](image00002.jpg) | ![](image00003.jpg) |

---

#### <br>

#### PROVIDENT FINANCIAL HOLDINGS, INC.

#### Financial Highlights
(Unaudited - Dollars in Thousands)

#### ASSET QUALITY:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **As of**<br>**12/31/22** | **As of**<br>**09/30/22** | **As of**<br>**06/30/22** | **As of**<br>**03/31/22** | **As of**<br>**12/31/21** |
| Loans on non-accrual status (excluding restructured <br> loans): |  |  |  |  |  |
| &nbsp;&nbsp; Mortgage loans: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Single-family | $242 | $243 | $701 | $716 | $745 |
| &nbsp;&nbsp;&nbsp;&nbsp; Multi-family |  |  |  | 306 | 1077 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | 242 | 243 | 701 | 1022 | 1822 |
| Accruing loans past due 90 days or more: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Total |  |  |  |  |  |
| Restructured loans on non-accrual status: |  |  |  |  |  |
| &nbsp;&nbsp; Mortgage loans: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Single-family | 714 | 721 | 722 | 974 | 980 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total | 714 | 721 | 722 | 974 | 980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total non-performing loans <sup>(1)</sup> | 956 | 964 | 1423 | 1996 | 2802 |
| Real estate owned, net |  |  |  |  |  |
| Total non-performing assets | $956 | $964 | $1423 | $1996 | $2802 |

---

<br> ![](image10.jpg)

<sup>(1)</sup> The non-performing loans balances are net of individually evaluated or collectively evaluated allowances, specifically attached to the individual loans.

Page 15 of 15

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## Exhibit 99.2

**Exhibit 99.2**<br>

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