Form 8-K
8-K — PROVIDENT FINANCIAL HOLDINGS INC
Accession: 0000939057-26-000143
Filed: 2026-07-28
Period: 2026-07-28
CIK: 0001010470
SIC: 6035 (SAVINGS INSTITUTION, FEDERALLY CHARTERED)
Item: Results of Operations and Financial Condition
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — prov8k72826.htm (Primary)
EX-99.1 (prov8k72826exh991.htm)
EX-99.2 (prov8k72826exh992.htm)
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8-K
8-K (Primary)
Filename: prov8k72826.htm · Sequence: 1
false000101047000010104702026-07-282026-07-28
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): July 28, 2026
PROVIDENT FINANCIAL HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Delaware
000-28304
33-0704889
(State or other jurisdiction
(Commission
(I.R.S. Employer
of incorporation)
File Number)
Identification No.)
3756 Central Avenue, Riverside, California
92506
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area
code: (951) 686-6060
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 (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, par value $.01 per share
PROV
NASDAQ
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. [ ]
Item 2.02 Results of Operations and Financial Condition
On July 28, 2026, Provident Financial Holdings, Inc. (“Corporation”), the holding company for Provident Savings Bank, F.S.B., distributed its financial results for the quarter and fiscal year
ended June 30, 2026. 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 April 28, 2026, the Corporation posted its Investor Presentation for the quarter ended June 30, 2026 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
(d)
Exhibits
99.1
News release of
the Corporation’s financial results for the quarter and fiscal year ended June 30, 2026.
99.2
Investor
Presentation of Provident Financial Holdings, Inc. for the quarter ended June 30, 2026.
104
Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)
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.
Date: July 28, 2026
PROVIDENT FINANCIAL HOLDINGS, INC.
/s/ Peter C. Fan
Peter C. Fan
Senior Vice President and Chief Financial Officer
(Principal Financial and Accounting Officer)
EX-99.1
EX-99.1
Filename: prov8k72826exh991.htm · Sequence: 2
Exhibit 99.1
3756 Central Avenue
NEWS RELEASE
Riverside, CA 92506
(951) 686-6060
PROVIDENT FINANCIAL HOLDINGS REPORTS
FOURTH QUARTER AND FISCAL 2026 RESULTS
Net Income of $2.18 million in the June 2026 Quarter, Up 61% from the Sequential Quarter and Up
34% from the Comparable Quarter Last Year
Net Interest Margin of 3.21% in the June 2026 Quarter, Up Eight Basis Points from the
Sequential
Quarter and Up 27 Basis Points from the Comparable Quarter Last Year
Loans Held for Investment of $1.03 Billion at June 30, 2026, Down 1% from $1.05 Billion at June
30, 2025
Total Deposits of $910.4 Million at June 30, 2026, up 2% from $888.8 million at June 30, 2025
Non-Performing Assets to Total Assets Ratio of 0.04% at June 30, 2026, Down from 0.11% at June
30, 2025
Riverside, Calif. – July 28, 2026 – Provident Financial Holdings, Inc. (“Company”), NASDAQ GS:
PROV, the holding company for Provident Savings Bank, F.S.B. (“Bank”), today announced earnings for the fourth quarter and fiscal year ended June 30, 2026.
The Company reported net income of $2.18 million, or $0.35 per diluted share (on 6.33 million
average diluted shares outstanding), for the quarter ended June 30, 2026, up 61 percent from $1.35 million, or $0.21 per diluted share (on 6.44 million average diluted shares outstanding), in the third quarter of fiscal 2026, and up 34 percent from
net income of $1.63 million, or $0.24 per diluted share (on 6.65 million average diluted shares outstanding), in the comparable period a year ago. The increase compared to the sequential quarter primarily reflected a $95,000 recovery of credit
losses, in contrast to a $326,000 provision for credit losses, and a $570,000 increase in non-interest income (mainly due to higher gains on other equity investments). The increase from the comparable quarter last year was due primarily to a $429,000
increase in net interest income and a $403,000 increase in non-interest income (mainly due to higher gains on other equity investments), partly offset by a $129,000 increase in non-interest expense (mainly salaries and employee benefits).
For the fiscal year ended June 30, 2026, net income increased $400,000, or six percent, to
$6.66 million from $6.26 million in fiscal 2025. Diluted earnings per share for the fiscal year ended June 30, 2026 was $1.03 per share, up 11 percent from $0.93 in the comparable period last year. The increase in net income was primarily
attributable to an $859,000 increase in net interest income and a $195,000 increase in non-interest income (primarily due to an increase in the loan servicing and other fees and an increase in the gain on other equity investments), partly offset by
Page 1 of 15
a $363,000 increase in the provision for income taxes (of which $251,000 was attributable to the write-off of
deferred tax assets related to the expiration of non-qualified stock options).
“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.
Return on average assets was 0.73 percent for the fourth quarter of fiscal 2026, compared to
0.45 percent in the third quarter of fiscal 2026 and 0.53 percent for the fourth quarter of fiscal 2025. Return on average stockholders’ equity for the fourth quarter of fiscal 2026 was 6.85 percent, compared to 4.21 percent for the third quarter of
fiscal 2026 and 5.01 percent for the fourth quarter of fiscal 2025.
In the fourth quarter of fiscal 2026, net interest income increased $429,000 or five percent
to $9.31 million from $8.88 million for the same quarter last year. The increase reflected the impact of a $595,000 decrease in funding costs, reflecting lower interest expense on FHLB advances resulting from lower average borrowings and lower
borrowing rates, partly offset by a $166,000 decrease in income from interest-earning assets. The net interest margin increased 27 basis points to 3.21% from 2.94% in the same quarter last year, reflecting lower funding costs and higher loan yields,
despite lower average interest-earning assets.
Interest income on loans receivable was virtually unchanged at $13.12 million in the fourth
quarter of fiscal 2026 from $13.10 million in the same quarter last year, primarily due to a higher average loan yield, which was mainly offset by a lower average loan balance. The yield on loans receivable increased 13 basis points to 5.10 percent
from 4.97 percent in the same quarter last year. The increase in the loan yield was primarily due to the effect of adjustable rate loan repricing and a decrease in net deferred loan cost amortization to $407,000 from $463,000 in the same quarter last
year. For the last 12-month period, approximately $256.8 million of adjustable-rate loans repriced to a weighted average rate of 6.98 percent, up 59 basis points from 6.39 percent prior to repricing. The average balance of loans receivable decreased
$24.2 million, or two percent, to $1.03 billion, as loan principal payments received during the last 12 months of $176.8 million, exceeded loans originated for investment of $162.3 million.
Interest income from investment securities decreased $70,000, or 16 percent, to $376,000 in
the fourth quarter of fiscal 2026 from $446,000 for the same quarter of fiscal 2025. This decrease was attributable to a lower average balance, partly offset by a higher average yield. The average balance of investment securities totaled $93.4
million, a decrease of $20.2 million, or 18 percent, from the same quarter of fiscal 2025, reflecting the continued runoff of the held-to-maturity portfolio. The yield on investment securities increased four basis points to 1.61 percent in the
Page 2 of 15
fourth quarter of fiscal 2026 from 1.57 percent for the same quarter last year, resulting from a lower premium
amortization ($52,000 vs. $80,000).
In the fourth quarter of fiscal 2026, the Bank received $177,000 in cash dividends from the
FHLB – San Francisco stock and other equity investments, down $32,000 or 15 percent from $209,000 in the same quarter last year. The cash dividend yield was 6.80%, down 132 basis points from 8.12% in the same quarter last year, while the average
balance increased slightly to $10.4 million from $10.3 million in the same quarter last year.
Interest income from interest-earning deposits, primarily cash deposited at the FRB of San
Francisco, was $264,000 in the fourth quarter of fiscal 2026, down $78,000 or 23 percent from $342,000 in the same quarter of fiscal 2025. The decrease was due to both a lower yield and a lower average balance. The yield decreased 75 basis points to
3.65 percent from 4.40 percent in the same quarter last year, due to a lower average interest rate on FRB reserve balances following decreases in the targeted federal funds rate since the same quarter last year. The average balance decreased $2.1
million, or seven percent, to $28.6 million in the fourth quarter of fiscal 2026 from $30.7 million in the same quarter last year.
Interest expense on deposits for the fourth quarter of fiscal 2026 was $3.03 million, an
increase of $46,000 or two percent from $2.98 million for the same period last year, reflecting higher rates paid on average deposits of $892.6 million compared to $898.5 million in the same quarter last year. The average cost of deposits increased
three basis points to 1.36 percent from 1.33 percent in the same quarter last year, primarily due to a greater proportion of time deposits, including brokered certificates of deposit.
During fiscal year ended June 30, 2026, transaction account balances, or “core deposits,”
decreased $19.3 million, or three percent, to $557.1 million, while time deposits increased $40.9 million, or 13 percent, to $353.2 million, reflecting continued customer preference for higher-yielding deposit products. Brokered certificates of
deposit totaled $161.4 million at June 30, 2026, up $30.4 million, or 23 percent, from $131.0 million at June 30, 2025, while the weighted average cost of brokered certificates of deposit declined 31 basis points to 3.93 percent from 4.24 percent at
June 30, 2025, reflecting the lower interest rate environment.
Interest expense on borrowings, primarily comprised of FHLB advances, decreased $641,000, or
29 percent, to $1.59 million during the fourth quarter of fiscal 2026 from $2.24 million for the same period last year. This decrease was due to a $37.7 million, or 19 percent, decrease in average borrowings to $158.1 million from $195.8 million, as
well as a 54-basis point decrease in the average cost of borrowings to 4.04 percent from 4.58 percent, reflecting the lower interest rate environment.
At June 30, 2026, the Bank had approximately $255.9 million of remaining borrowing capacity
with the FHLB, an additional $187.5 million available through a borrowing facility with the FRB of San Francisco, and an unused unsecured federal funds borrowing facility of $50.0 million with its correspondent bank. Total available borrowing
capacity across all sources was
Page 3 of 15
approximately $493.4 million at June 30, 2026. The Bank also remained well capitalized under all applicable
regulatory capital requirements.
During the fourth quarter of fiscal 2026, the Company recorded a $95,000 recovery of credit
losses, which included an $11,000 recovery related to unfunded loan commitment reserves. This compares with a $164,000 recovery of credit losses in the same quarter last year and a $326,000 provision for credit losses in the third quarter of fiscal
2026 (the sequential quarter). The recovery of credit losses was primarily driven by a decrease in the expected life of the loan portfolio as adjustable-rate loans repriced upward during the quarter. The recovery was also supported by other favorable
factors, including strong loan quality, lower historical loss rates and improved forward-looking economic indicators. These favorable factors were partly offset by a modest increase in the loan portfolio balance.
Non-performing assets, comprised solely of non-accrual loans secured by properties located in
California, decreased $909,000, or 64 percent, to $505,000, representing 0.04 percent of total assets at June 30, 2026, compared to $1.4 million, or 0.11 percent of total assets, at June 30, 2025. At June 30, 2026, non-performing loans were comprised
of three single-family loans and one multi-family loan, compared to seven single-family loans and one multi-family loan at June 30, 2025. At both dates, the Bank had no real estate owned and no loans 90 days or more past due that were still accruing
interest. Additionally, no loan charge-offs occurred during the quarters ended June 30, 2026 and 2025.
Classified assets were $2.5 million at June 30, 2026, consisting of $792,000 of loans in the
special mention category and $1.7 million of loans in the substandard category. This compares to $5.0 million at June 30, 2025, consisting of $1.1 million of loans in the special mention category and $3.9 million of loans in the substandard category.
The allowance for credit losses on loans held for investment was $5.9 million, or 0.57 percent
of gross loans held for investment, at June 30, 2026, down from $6.4 million, or 0.62 percent of gross loans held for investment, at June 30, 2025. The decrease in the allowance for credit losses was due primarily to a shorter estimated average life
of the loan portfolio attributable to a decline in mortgage interest rates and a lower loan portfolio balance from June 30, 2025. Management believes, based on currently available information, the allowance for credit losses is sufficient to absorb
expected losses inherent in loans held for investment at June 30, 2026.
Non-interest income increased $403,000, or 46 percent, to $1.28 million in the fourth quarter
of fiscal 2026 from $880,000 in the same period last year, primarily due to an increase in other non-interest income, attributable primarily to a higher gain on other equity investments. The increase was due primarily to a conversion of VISA shares
in May 2026 resulting in a gain of $311,000. On a sequential quarter basis, non-interest income increased $570,000, or 80 percent, primarily due to a higher gain on other equity investments resulting mainly from the VISA share conversion and a
higher valuation of VISA Class C shares.
Page 4 of 15
Non-interest expense increased $129,000, or two percent, to $7.75 million in the fourth
quarter of fiscal 2026 from $7.62 million in the same quarter last year, primarily due to a $126,000 or three percent increase in salaries and employee benefits. On a sequential quarter basis, non-interest expense increased $110,000, or one percent,
primarily due to an increase in salaries and employee benefits.
The Company’s efficiency ratio, defined as non-interest expense divided by the sum of net
interest income and non-interest income, in the fourth quarter of fiscal 2026 was 73 percent, improved from 78 percent in the same quarter last year. The ratio also improved from 77 percent in the third quarter of fiscal 2026 (the sequential
quarter).
The Company’s provision for income taxes was $756,000 for the fourth quarter of fiscal 2026,
up 11 percent from $680,000 in the same quarter last year and up 36 percent from $557,000 in the third quarter of fiscal 2026 (the sequential quarter). The increase compared to the same quarter last year was due to a higher pre-tax income, partly
offset by a reduction in the effective tax rate to 25.7 percent from 29.5 percent. The increase compared to the sequential quarter similarly reflected higher pre-tax income, partly offset by a lower effective tax rate from 29.2 percent in the prior
quarter. The lower effective tax rate was due primarily to tax benefits totaling $94,000 attributable to the vesting of restricted stock in May 2026.
Consistent with the Company's continued commitment to delivering shareholder value, the
Company repurchased 89,974 shares of its common stock at an average cost of $16.97 per share during the quarter ended June 30, 2026, and paid a quarterly cash dividend of $0.14 per share. As of June 30, 2026, a total of 174,605 shares remained
available for future purchase under the Company’s current repurchase program.
The Bank currently operates 13 retail/business banking offices in Riverside County and San
Bernardino County (collectively referred to as the Inland Empire).
The Company will host a conference call for institutional investors and bank analysts on
Wednesday, July 29, 2026 at 9:00 a.m. (Pacific) to discuss its financial results. The conference call can be accessed by dialing 1-800-715-9871 and referencing Conference ID number 7361828. An audio replay of the conference call will be available
through Wednesday, August 5, 2026 by dialing 1-800-770-2030 and referencing Conference ID number 7361828.
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 various 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.
Page 5 of 15
There are a number of important factors that could cause actual results to differ materially from those express or
implied by these forward-looking statements and from historical performance. Factors that could cause actual results to differ materially include, but are not limited to: adverse economic conditions in the Company’s local market areas or other
markets in which it has lending relationships; changes in employment levels, labor shortages, persistent inflation, recessionary pressures, or slowing economic growth; changes in interest rate levels and volatility, and the timing and pace of such
changes, including actions by the Board of Governors of the Federal Reserve System (the “Federal Reserve”), which could adversely affect the Company’s revenues and expenses, the value of its assets and obligations, and the availability and cost of
capital and liquidity; the impact of inflation and related monetary and fiscal policy responses, and their effect on consumer and business behavior; the effects of a federal government shutdown, debt ceiling standoff, or other fiscal policy
uncertainty; credit risks associated with lending activities, including loan delinquencies, charge-offs, changes in the allowance for credit losses (“ACL”), and the provision for credit losses; increased competitive pressures, including repricing and
competitors’ pricing initiatives, and their impact on the Company’s market position and loan and deposit products; the quality and composition of the Company’s securities portfolio and the impact of adverse changes in the securities markets;
fluctuations in deposits; secondary market conditions for loans and the Company’s ability to sell loans in the secondary market; liquidity risks, including the Company’s ability to borrow funds or raise additional capital, if necessary; the Company’s
ability to successfully implement key growth initiatives and strategic priorities; the impact of bank failures or adverse developments at other banks and related negative publicity about the banking industry on investor and depositor sentiment;
results of examinations by regulatory authorities, including the possibility that a regulatory authority may, among other things, institute a formal or informal enforcement action against the Company or its bank subsidiary that could require the
Company to increase its ACL, write down assets, alter its regulatory capital position, affect its ability to borrow funds or maintain or increase deposits, or impose additional requirements or restrictions, any of which could adversely affect its
liquidity and earnings; the Company’s ability to adapt to rapid technological changes, including advancements related to artificial intelligence, digital banking platforms, and cybersecurity; legislative or regulatory changes, including but not
limited to changes in capital requirements, banking regulation, tax laws, or consumer protection laws; the use of estimates in determining the fair value of assets, which may prove inaccurate; vulnerabilities in information systems or third-party
service providers, including disruptions, breaches, or cyberattacks; geopolitical developments and international conflicts, including but not limited to tensions or instability in Eastern Europe, the Middle East, South America and Asia, or the
imposition of new or increased tariffs or trade restrictions, which could disrupt financial markets, global supply chains, commodity prices, or economic activity; staffing fluctuations in response to changes in product demand or corporate
implementation strategies; the Company’s ability to pay dividends on its common stock; environmental, social and governance matters; effects of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health
crises, acts of war or terrorism, domestic political unrest, and other external events; and other factors described in the Company’s latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other reports filed with or furnished to the
Securities and Exchange Commission (“SEC”), which are available on the Company’s 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 2027 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.
Contacts:
Donavon P. Ternes
Peter C. Fan
President and
Chief Executive Officer
Senior Vice President and
Chief Financial Officer
Page 6 of 15
PROVIDENT FINANCIAL HOLDINGS, INC.
Condensed Consolidated Statements of Financial Condition
(Unaudited –In Thousands, Except Share and Per Share Information)
June 30,
March 31,
December 31,
September 30,
June 30,
2026
2026
2025
2025
2025
Assets
Cash and cash equivalents
$
49,210
$
57,126
$
54,370
$
49,407
$
53,090
Investment securities - held to maturity, at cost with no
allowance for credit losses
89,251
93,997
98,899
103,877
109,399
Investment securities - available for sale, at fair value
1,272
1,346
1,404
1,544
1,607
Loans held for investment, net of allowance for credit losses of
$5,850, $5,934, $5,634, $5,780 and $6,424, respectively;
includes $978, $997, $1,006, $1,010 and $1,018 of loans held
at fair value, respectively
1,032,682
1,029,644
1,037,655
1,041,776
1,045,745
Accrued interest receivable
4,285
4,196
4,106
4,180
4,215
FHLB - San Francisco stock and other equity investments,
includes $1,041, $622, $721, $702 and $730 of other equity
investments at fair value, respectively
10,609
10,190
10,289
10,270
10,298
Premises and equipment, net
9,231
9,551
9,836
8,992
9,324
Prepaid expenses and other assets
11,621
11,574
11,333
10,761
11,935
Total assets
$
1,208,161
$
1,217,624
$
1,227,892
$
1,230,807
$
1,245,613
Liabilities and Stockholders’ Equity
Liabilities:
Noninterest-bearing deposits
$
86,859
$
84,628
$
75,316
$
79,007
$
83,566
Interest-bearing deposits
823,524
808,257
797,118
795,832
805,206
Total deposits
910,383
892,885
872,434
874,839
888,772
Borrowings
157,046
184,053
213,060
213,066
213,073
Accounts payable, accrued interest and other liabilities
14,512
14,113
14,907
14,532
15,223
Total liabilities
1,081,941
1,091,051
1,100,401
1,102,437
1,117,068
Stockholders’ equity:
Preferred stock, $.01 par value (2,000,000 shares authorized;
none issued and outstanding)
—
—
—
—
—
Common stock, $.01 par value; (40,000,000 shares authorized;
18,229,615, 18,229,615, 18,229,615, 18,229,615 and
18,229,615 shares issued respectively; 6,264,035, 6,323,219,
6,414,751, 6,511,011 and 6,577,718 shares outstanding,
respectively)
183
183
183
183
183
Additional paid-in capital
99,782
99,553
99,434
99,306
99,149
Retained earnings
215,466
214,156
213,693
213,163
212,403
Treasury stock at cost (11,965,580, 11,906,396, 11,814,864,
11,718,604, and 11,651,897 shares, respectively)
(189,224)
(187,333)
(185,836)
(184,300)
(183,207)
Accumulated other comprehensive income, net of tax
13
14
17
18
17
Total stockholders’ equity
126,220
126,573
127,491
128,370
128,545
Total liabilities and stockholders’ equity
$
1,208,161
$
1,217,624
$
1,227,892
$
1,230,807
$
1,245,613
Page 7 of 15
PROVIDENT FINANCIAL HOLDINGS, INC.
Condensed Consolidated Statements of Operations
(Unaudited - In Thousands, Except Per Share Information)
For the Quarter Ended
Fiscal Year Ended
June 30,
June 30,
2026
2025
2026
2025
Interest income:
Loans receivable, net
$
13,116
$
13,102
$
52,024
$
52,543
Investment securities
376
446
1,612
1,858
FHLB - San Francisco stock and other equity investments
177
209
1,090
845
Interest-earning deposits
264
342
1,163
1,378
Total interest income
13,933
14,099
55,889
56,624
Interest expense:
Checking and money market deposits
46
40
207
190
Savings deposits
249
144
836
500
Time deposits
2,733
2,798
10,778
10,536
Borrowings
1,594
2,235
7,740
9,929
Total interest expense
4,622
5,217
19,561
21,155
Net interest income
9,311
8,882
36,328
35,469
Recovery of credit losses
(95)
(164)
(553)
(666)
Net interest income, after recovery of credit losses
9,406
9,046
36,881
36,135
Non-interest income:
Loan servicing and other fees
136
120
583
419
Deposit account fees
258
256
1,067
1,112
Card and processing fees
335
354
1,203
1,265
Other
554
150
873
735
Total non-interest income
1,283
880
3,726
3,531
Non-interest expense:
Salaries and employee benefits
4,897
4,771
19,263
19,006
Premises and occupancy
878
886
3,560
3,634
Equipment
428
403
1,757
1,542
Professional
370
355
1,551
1,579
Sales and marketing
227
173
712
714
Deposit insurance premiums and regulatory assessments
162
172
661
740
Other
787
860
3,467
3,578
Total non-interest expense
7,749
7,620
30,971
30,793
Income before income taxes
2,940
2,306
9,636
8,873
Provision for income taxes
756
680
2,981
2,618
Net income
$
2,184
$
1,626
$
6,655
$
6,255
Basic earnings per share
$
0.35
$
0.25
$
1.04
$
0.93
Diluted earnings per share
$
0.35
$
0.24
$
1.03
$
0.93
Cash dividends per share
$
0.14
$
0.14
$
0.56
$
0.56
Page 8 of 15
PROVIDENT FINANCIAL HOLDINGS, INC.
Condensed Consolidated Statements of Operations – Sequential Quarters
(Unaudited – In Thousands, Except Per Share Information)
For the Quarter Ended
June 30,
March 31,
December 31,
September 30,
June 30,
2026
2026
2025
2025
2025
Interest income:
Loans receivable, net
$
13,116
$
12,705
$
13,072
$
13,131
$
13,102
Investment securities
376
395
411
430
446
FHLB - San Francisco stock and other equity investments
177
488
214
211
209
Interest-earning deposits
264
272
253
374
342
Total interest income
13,933
13,860
13,950
14,146
14,099
Interest expense:
Checking and money market deposits
46
54
56
51
40
Savings deposits
249
219
197
171
144
Time deposits
2,733
2,609
2,672
2,764
2,798
Borrowings
1,594
1,815
2,101
2,230
2,235
Total interest expense
4,622
4,697
5,026
5,216
5,217
Net interest income
9,311
9,163
8,924
8,930
8,882
(Recovery of) provision for credit losses
(95)
326
(158)
(626)
(164)
Net interest income, after (recovery of) provision for credit losses
9,406
8,837
9,082
9,556
9,046
Non-interest income:
Loan servicing and other fees
136
125
176
146
120
Deposit account fees
258
271
273
265
256
Card and processing fees
335
280
286
302
354
Other
554
37
182
100
150
Total non-interest income
1,283
713
917
813
880
Non-interest expense:
Salaries and employee benefits
4,897
4,813
4,783
4,770
4,771
Premises and occupancy
878
884
851
947
886
Equipment
428
444
479
406
403
Professional
370
325
442
414
355
Sales and marketing
227
179
158
148
173
Deposit insurance premiums and regulatory assessments
162
157
177
165
172
Other
787
837
1,059
784
860
Total non-interest expense
7,749
7,639
7,949
7,634
7,620
Income before income taxes
2,940
1,911
2,050
2,735
2,306
Provision for income taxes
756
557
614
1,054
680
Net income
$
2,184
$
1,354
$
1,436
$
1,681
$
1,626
Basic earnings per share
$
0.35
$
0.21
$
0.22
$
0.26
$
0.25
Diluted earnings per share
$
0.35
$
0.21
$
0.22
$
0.25
$
0.24
Cash dividends per share
$
0.14
$
0.14
$
0.14
$
0.14
$
0.14
Page 9 of 15
PROVIDENT FINANCIAL HOLDINGS, INC.
Financial Highlights
(Unaudited - Dollars in Thousands, Except Share and Per
Share Information)
As of and For the
Quarter Ended
Fiscal Year Ended
June 30,
June 30,
2026
2025
2026
2025
SELECTED FINANCIAL RATIOS:
Return on average assets
0.73
%
0.53
%
0.55
%
0.50
%
Return on average stockholders' equity
6.85
%
5.01
%
5.17
%
4.79
%
Stockholders’ equity to total assets
10.45
%
10.32
%
10.45
%
10.32
%
Net interest spread
3.04
%
2.76
%
2.91
%
2.74
%
Net interest margin
3.21
%
2.94
%
3.09
%
2.93
%
Efficiency ratio
73.15
%
78.06
%
77.32
%
78.96
%
Average interest-earning assets to average interest-
bearing liabilities
110.59
%
110.41
%
110.61
%
110.38
%
SELECTED FINANCIAL DATA:
Basic earnings per share
$
0.35
$
0.25
$
1.04
$
0.93
Diluted earnings per share
$
0.35
$
0.24
$
1.03
$
0.93
Book value per share
$
20.15
$
19.54
$
20.15
$
19.54
Shares used for basic EPS computation
6,264,665
6,604,758
6,415,560
6,716,086
Shares used for diluted EPS computation
6,333,590
6,653,214
6,482,884
6,760,962
Total shares issued and outstanding
6,264,035
6,577,718
6,264,035
6,577,718
LOANS ORIGINATED FOR INVESTMENT:
Mortgage loans:
Single-family
$
37,180
$
18,303
$
115,547
$
92,498
Multi-family
9,186
9,343
41,428
25,115
Commercial real estate
—
1,017
5,334
3,777
Construction
—
725
—
725
Commercial business loans
—
—
—
550
Total loans originated for investment
$
46,366
$
29,388
$
162,309
$
122,665
Page 10 of 15
PROVIDENT FINANCIAL HOLDINGS, INC.
Financial Highlights
(Unaudited - Dollars in Thousands, Except Share and Per
Share Information)
As of and For the
Quarter
Quarter
Quarter
Quarter
Quarter
Ended
Ended
Ended
Ended
Ended
06/30/26
03/31/26
12/31/25
09/30/25
06/30/25
SELECTED FINANCIAL
RATIOS:
Return on average assets
0.73
%
0.45
%
0.47
%
0.55
%
0.53
%
Return on average stockholders'
equity
6.85
%
4.21
%
4.44
%
5.17
%
5.01
%
Stockholders’ equity to total assets
10.45
%
10.40
%
10.38
%
10.43
%
10.32
%
Net interest spread
3.04
%
2.93
%
2.86
%
2.83
%
2.76
%
Net interest margin
3.21
%
3.13
%
3.03
%
3.00
%
2.94
%
Efficiency ratio
73.15
%
77.35
%
80.77
%
78.35
%
78.06
%
Average interest-earning assets to
average interest-bearing liabilities
110.59
%
110.59
%
110.66
%
110.60
%
110.41
%
SELECTED FINANCIAL
DATA:
Basic earnings per share
$
0.35
$
0.21
$
0.22
$
0.26
$
0.25
Diluted earnings per share
$
0.35
$
0.21
$
0.22
$
0.25
$
0.24
Book value per share
$
20.15
$
20.02
$
19.87
$
19.72
$
19.54
Average shares used for basic EPS
6,264,665
6,367,057
6,462,230
6,565,592
6,604,758
Average shares used for diluted
EPS
6,333,590
6,442,894
6,527,569
6,624,787
6,653,214
Total shares issued and outstanding
6,264,035
6,323,219
6,414,751
6,511,011
6,577,718
LOANS ORIGINATED FOR
INVESTMENT:
Mortgage loans:
Single-family
$
37,180
$
28,828
$
30,415
$
19,124
$
18,303
Multi-family
9,186
13,813
9,925
8,504
9,343
Commercial real estate
—
1,540
1,782
2,012
1,017
Construction
—
—
—
—
725
Total loans originated for
investment
$
46,366
$
44,181
$
42,122
$
29,640
$
29,388
Page 11 of 15
PROVIDENT FINANCIAL HOLDINGS, INC.
Financial Highlights
(Unaudited - Dollars in Thousands)
As of
As of
As of
As of
As of
06/30/26
03/31/26
12/31/25
09/30/25
06/30/25
ASSET QUALITY RATIOS AND DELINQUENT
LOANS:
Recourse reserve for loans sold
$
17
$
23
$
23
$
23
$
23
Allowance for credit losses on loans held for
investment
$
5,850
$
5,934
$
5,634
$
5,780
$
6,424
Non-performing loans to loans held for investment,
net
0.05
%
0.09
%
0.10
%
0.18
%
0.14
%
Non-performing assets to total assets
0.04
%
0.08
%
0.08
%
0.15
%
0.11
%
Allowance for credit losses on loans to gross loans
held for investment
0.57
%
0.58
%
0.55
%
0.56
%
0.62
%
Net loan charge-offs (recoveries) to average loans
receivable (annualized)
—
%
—
%
—
%
—
%
—
%
Non-performing loans
$
505
$
978
$
990
$
1,888
$
1,414
Loans 30 to 89 days delinquent
$
1
$
1
$
1
$
—
$
2
Quarter
Quarter
Quarter
Quarter
Quarter
Ended
Ended
Ended
Ended
Ended
06/30/26
03/31/26
12/31/25
09/30/25
06/30/25
(Recovery) recourse provision for loans sold
$
(6)
$
—
$
—
$
—
$
—
(Recovery of) provision for credit losses
$
(95)
$
326
$
(158)
$
(626)
$
(164)
Net loan charge-offs (recoveries)
$
—
$
—
$
—
$
—
$
—
As of
As of
As of
As of
As of
06/30/26
03/31/26
12/31/25
09/30/25
06/30/25
REGULATORY CAPITAL RATIOS (BANK):
Tier 1 leverage ratio
10.30
%
9.98
%
9.79
%
9.55
%
10.11
%
Common equity tier 1 capital ratio
19.41
%
19.01
%
18.67
%
18.19
%
19.50
%
Tier 1 risk-based capital ratio
19.41
%
19.01
%
18.67
%
18.19
%
19.50
%
Total risk-based capital ratio
20.34
%
19.96
%
19.56
%
19.09
%
20.51
%
As of June 30,
2026
2025
Balance
Rate(1)
Balance
Rate(1)
INVESTMENT SECURITIES:
Held to maturity (at cost):
U.S. SBA securities
$
152
4.10
%
$
325
4.85
%
U.S. government sponsored enterprise MBS
85,003
1.61
104,549
1.60
U.S. government sponsored enterprise CMO
4,096
2.75
4,525
2.72
Total investment securities held to maturity
$
89,251
1.67
%
$
109,399
1.66
%
Available for sale (at fair value):
U.S. government agency MBS
$
859
5.30
%
$
1,082
4.90
%
U.S. government sponsored enterprise MBS
350
5.99
446
6.66
Private issue CMO
63
5.12
79
5.78
Total investment securities available for sale
$
1,272
5.48
%
$
1,607
5.43
%
Total investment securities
$
90,523
1.72
%
$
111,006
1.71
%
(1)
Weighted-average yield earned on all instruments included in the balance of the respective line item.
Page 12 of 15
PROVIDENT FINANCIAL HOLDINGS, INC.
Financial Highlights
(Unaudited - Dollars in Thousands)
As of June 30,
2026
2025
Balance
Rate(1)
Balance
Rate(1)
LOANS HELD FOR INVESTMENT:
Mortgage loans:
Single-family (1 to 4 units)
$
565,930
4.75
%
$
544,425
4.69
%
Multi-family (5 or more units)
395,882
5.88
423,417
5.52
Commercial real estate
66,731
6.64
72,766
6.59
Construction
—
—
402
9.17
Other
—
—
89
5.25
Commercial business loans
—
—
1,267
9.59
Consumer loans
58
16.75
57
17.50
Total loans held for investment, gross
1,028,601
5.31
%
1,042,423
5.16
%
Advance payments of escrows
129
293
Deferred loan costs, net
9,802
9,453
Allowance for credit losses on loans
(5,850)
(6,424)
Total loans held for investment, net
$
1,032,682
$
1,045,745
Purchased loans serviced by others included above
$
1,529
5.72
%
$
1,673
5.72
%
(1)
Weighted-average yield earned on all instruments included in the balance of the respective line item.
As of June 30,
2026
2025
Balance
Rate(1)
Balance
Rate(1)
DEPOSITS:
Checking accounts – noninterest-bearing
$
86,859
—
%
$
83,566
—
%
Checking accounts – interest-bearing
226,695
0.04
240,597
0.04
Savings accounts
223,136
0.50
230,610
0.28
Money market accounts
20,450
0.48
21,703
0.32
Time deposits
353,243
3.32
312,296
3.56
Total deposits(2)(3)
$
910,383
1.43
%
$
888,772
1.34
%
Brokered CDs included in time deposits above
$
161,381
3.93
%
$
130,970
4.24
%
BORROWINGS:
Overnight
$
—
—
%
$
20,000
4.64
%
Three months or less
25,000
4.45
5,000
5.33
Over three to six months
15,000
4.03
54,000
5.03
Over six months to one year
72,000
3.76
84,000
4.39
Over one year to two years
35,046
4.03
35,000
4.35
Over two years to three years
10,000
4.51
5,073
4.22
Over three years to four years
—
—
10,000
4.51
Over four years to five years
—
—
—
—
Over five years
—
—
—
—
Total borrowings(4)
$
157,046
4.00
%
$
213,073
4.59
%
(1)
Weighted-average rate paid on all instruments included in the balance of the respective line item.
(2)
Includes uninsured deposits of approximately $178.6 million (of which, $61.2 million are collateralized) and $158.7
million (of which, $54.0 million are collateralized) at June 30, 2026 and 2025, respectively.
(3)
The average balance of deposit accounts was approximately $40 thousand and $37 thousand at June 30, 2026 and 2025,
respectively.
(4)
The Bank had approximately $255.9 million and
$282.3 million of remaining borrowing capacity at the FHLB – San Francisco, approximately $187.5 million and $142.5 million of borrowing capacity at the FRB of San Francisco and $50.0 million and $50.0 million of borrowing capacity with
its correspondent bank at June 30, 2026 and 2025, respectively.
Page 13 of 15
PROVIDENT FINANCIAL HOLDINGS, INC.
Financial Highlights
(Unaudited - Dollars in Thousands)
For the Quarter Ended
For the Quarter Ended
June 30, 2026
June 30, 2025
Balance
Rate(1)
Balance
Rate(1)
SELECTED AVERAGE BALANCE SHEETS:
Loans receivable, net
$
1,029,391
5.10
%
$
1,053,554
4.97
%
Investment securities
93,411
1.61
113,621
1.57
FHLB - San Francisco stock and other equity
investments
10,414
6.80
10,294
8.12
Interest-earning deposits
28,621
3.65
30,742
4.40
Total interest-earning assets
$
1,161,837
4.80
%
$
1,208,211
4.67
%
Total assets
$
1,192,487
$
1,238,691
Deposits(2)
$
892,557
1.36
%
$
898,485
1.33
%
Borrowings
158,061
4.04
195,824
4.58
Total interest-bearing liabilities(2)
$
1,050,618
1.76
%
$
1,094,309
1.91
%
Total stockholders’ equity
$
127,580
$
129,920
(1)
Weighted-average yield earned or rate paid on all instruments included in the balance of the respective line item.
(2)
Includes the average balance of noninterest-bearing checking accounts of $83.5 million and $87.5 million and the average
balance of uninsured deposits of $169.0 million and $125.8 million during the quarters ended June 30, 2026 and 2025, respectively.
Fiscal Year Ended
Fiscal Year Ended
June 30, 2026
June 30, 2025
Balance
Rate(1)
Balance
Rate(1)
SELECTED AVERAGE BALANCE SHEETS:
Loans receivable, net
$
1,036,180
5.02
%
$
1,051,448
5.00
%
Investment securities
100,966
1.60
121,399
1.53
FHLB - San Francisco stock and other equity investments
10,302
10.58
10,213
8.27
Interest-earning deposits
29,284
3.92
28,990
4.69
Total interest-earning assets
$
1,176,732
4.75
%
$
1,212,050
4.67
%
Total assets
$
1,207,432
$
1,242,402
Deposits(2)
$
883,831
1.34
%
$
881,738
1.27
%
Borrowings
180,041
4.30
216,290
4.59
Total interest-bearing liabilities(2)
$
1,063,872
1.84
%
$
1,098,028
1.93
%
Total stockholders’ equity
$
128,848
$
130,664
(1)
Weighted-average yield earned or rate paid on all instruments included in the balance of the respective line item.
(2)
Includes the average balance of noninterest-bearing checking accounts of $80.7 million and $88.2 million and the average
balance of uninsured deposits of $166.8 million and $127.1 million during the full fiscal year ended June 30, 2026 and 2025, respectively.
Page 14 of 15
ASSET QUALITY:
As of
As of
As of
As of
As of
06/30/26
03/31/26
12/31/25
09/30/25
06/30/25
Loans on non-accrual status
Mortgage loans:
Single-family
$
50
$
520
$
529
$
568
$
948
Multi-family
455
458
461
1,320
466
Total
505
978
990
1,888
1,414
Accruing loans past due 90 days or more:
—
—
—
—
—
Total
—
—
—
—
—
Total non-performing loans (1)
505
978
990
1,888
1,414
Real estate owned, net
—
—
—
—
—
Total non-performing assets
$
505
$
978
$
990
$
1,888
$
1,414
(1)
The non-performing loan balances are net of individually evaluated or collectively evaluated allowances, specifically
attached to the individual loans.
Page 15 of 15
EX-99.2
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Exhibit 99.2
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v3.26.1
Document and Entity Information
Jul. 28, 2026
Cover [Abstract]
Document Type
8-K
Amendment Flag
false
Document Period End Date
Jul. 28, 2026
Entity File Number
000-28304
Entity Registrant Name
PROVIDENT FINANCIAL HOLDINGS, INC.
Entity Central Index Key
0001010470
Entity Incorporation, State or Country Code
DE
Entity Tax Identification Number
33-0704889
Entity Address, Address Line One
3756 Central Avenue
Entity Address, City or Town
Riverside
Entity Address, State or Province
CA
Entity Address, Postal Zip Code
92506
City Area Code
951
Local Phone Number
686-6060
Title of 12(b) Security
Common Stock, par value $.01 per share
Trading Symbol
PROV
Security Exchange Name
NASDAQ
Entity Emerging Growth Company
false
Written Communications
false
Soliciting Material
false
Pre-commencement Tender Offer
false
Pre-commencement Issuer Tender Offer
false
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Area code of city
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No definition available.
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- Definition
Cover page.
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No definition available.
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- Definition
For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
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No definition available.
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dei_DocumentPeriodEndDate
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X
- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
No definition available.
+ Details
Name:
dei_DocumentType
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X
- Definition
Address Line 1 such as Attn, Building Name, Street Name
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No definition available.
+ Details
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- Definition
Name of the City or Town
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No definition available.
+ Details
Name:
dei_EntityAddressCityOrTown
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Balance Type:
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- Definition
Code for the postal or zip code
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No definition available.
+ Details
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- Definition
Name of the state or province.
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No definition available.
+ Details
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dei_EntityAddressStateOrProvince
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X
- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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X
- Definition
Indicate if registrant meets the emerging growth company criteria.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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X
- Definition
Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
No definition available.
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X
- Definition
Two-character EDGAR code representing the state or country of incorporation.
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No definition available.
+ Details
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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- Definition
The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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- Definition
Local phone number for entity.
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No definition available.
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
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- Definition
Title of a 12(b) registered security.
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
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- Definition
Name of the Exchange on which a security is registered.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
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- Definition
Trading symbol of an instrument as listed on an exchange.
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No definition available.
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
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