Provident Financial reports Q1 EPS 25c vs. 28c last year

“I am pleased with our results for the first quarter of fiscal 2026,” stated Donavon Ternes, President and Chief Executive Officer of the Company. “Strong credit quality and a shortened expected average life of our loan portfolio, resulting from lower mortgage interest rates, contributed to a significant recovery from the allowance for credit losses. In addition, our net interest margin resumed its upward trajectory, and our operating expenses remained well controlled. We continue to actively repurchase shares under our stock buyback program and have maintained a consistent quarterly cash dividend for many years. As we look forward, we anticipate improving fundamentals as the yield curve becomes more favorable and general economic conditions remain stable, though we recognize that balance sheet growth may remain a challenge,” concluded Ternes.