| Over a month ago | ||||
Reports Book value per… Reports Book value per share $18.12. Reports CET1 capital ratio 17.87%. "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 Blunden, Chairman and CEO 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. | ||||
| Over a quarter ago | ||||
The net interest margin… The net interest margin during the first quarter of fiscal 2023 increased 34 basis points to 3.05% from 2.71% in the same quarter last year. | ||||
Reports Q2 book value per… Reports Q2 book value per share $ 17.66, compared to $16.88 last year. "I am pleased with our financial results for the June 2022 quarter and encouraged that our fundamentals continue to improve. For example, the net interest margin expanded by 32 basis points from the prior sequential quarter, we achieved a second consecutive quarter of compelling loan portfolio growth, and operating expenses are well-controlled," said Craig G. Blunden, Chairman and CEO. "And while much has recently been written about a potential economic downturn, I am confident that our credit quality and strong capital position provides a robust financial foundation to weather the challenges that may arise." | ||||
Provident Financial… Provident Financial announced that the Company's Board of Directors authorized the repurchase of up to 5% of the Company's common stock, approximately 364,259 shares. The Company will purchase the shares from time to time in the open market or through privately negotiated transactions over a one-year period. The April 2022 stock repurchase plan will become effective on April 28, 2022 and will continue for a period of one year or until completed, whichever occurs first. | ||||
"I am pleased with… "I am pleased with our financial results this quarter and would like to highlight the robust loan portfolio growth, well-controlled operating expenses, and pristine credit quality. Each of these fundamentals will work to the Company's benefit as we progress through 2022," said Craig G. Blunden, Chairman and CEO. "And let's not forget that the Company is well positioned to respond to future opportunities or challenges that may arise from current and future economic conditions as a result of our strong financial foundation," said Blunden. | ||||
